Business Ethics and Legal Issues Student’s Name: Institutional Affiliation: Abstract Antitrust laws are the legislations by state governments aimed regulating the way in which trade and commerce is carried out. This is possible through the prevention of illegitimate price-fixing and monopolies and facilitating fair completion. The net effect that is felt by the consumer is the production of high quality goods and services at prices that are affordable to all. Additionally, the public welfare and
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Pareto was born of an exiled noble Genoese[->0] family in 1848 in Paris, the centre of the popular revolutions of that year. His father, Raffaele Pareto (1812–1882), was an Italian civil engineer and Ligurian marchese who had left Italy much like Mazzini and other Italian nationalists.[3] His mother, Marie Metenier, was a French woman. Enthusiastic about the 1848 German revolution[->1], his parents named him Fritz Wilfried, which became Vilfredo Federico upon his family's move back to Italy in 1858
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........................................................................... 3 STRUCTURE OF THE SYLLABUS ..................................................................................................... 3 UNIT 1: MICROECONOMICS MODULE 1: METHODOLOGY: DEMAND AND SUPPLY ......................................................... 4 MODULE 2: MARKET STRUCTURE, MARKET FAILURE AND INTERVENTION……...12 MODULE 3: DISTRIBUTION THEORY .............................................................
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DEFINITIONS [ECONOMICS] Microeconomics 1. Introduction to Economics Scarcity Situation where limited resources available unable to satisfy unlimited human wants Opportunity Cost (OC) Cost of any activity measured in terms of next best alternative forgone Production Possibility Curve (PPC) Shows all different maximum attainable combinations of goods & services produced when all available resources are used efficiently at given state of technology Law of Increasing Opportunity
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Using Supply and Demand 5 A f t e r r e a d i n g t h i s c h a p t e r, y o u s h o u l d b e a b l e t o : Show the effect of a shift in demand and supply on equilibrium price and quantity. Explain real-world events using supply and demand. Demonstrate the effect of a price ceiling and a price floor on a market. Explain the effect of taxes, tariffs, and quotas on equilibrium price and quantity. State the limitations of demand and supply analysis. State six roles of government. It is by invisible
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Economics | Scarcity and Choice 2. Economics is the study of choice under conditions of a.|demand| b.|supply| c.|scarcity| d.|opportunity| e.|abundance| ANS: C PTS: 1 DIF: 1 NAT: Financial theories, analysis, reporting, and markets LOC: Scarcity, tradeoffs, and opportunity cost TOP: Economics | Scarcity and Choice 3. The study of economics would be superfluous if _____ did not exist. a.|demand| b.|capital| c.|corporations| d.|profit| e.|scarcity| ANS: E PTS: 1 DIF: 2 NAT:
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capital wane as growing demand increases marginal price pressures. That there’s always a black swan event, an unexpected, hard-to-predict impact that resets the game such as the internet, the collapse of the Soviet Union or the global financial crisis. Despite ever-present gloom, reasonable optimism prevails. Research identifies four preconditions of consistent macro growth: sound macroeconomic policies; political institutions committed to transparency, fairness, and the rule of law; openness to trade
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Microeconomics Chapter 1 What is economics? Economic questions exist because everyone wants more than it can possibly get. We can't satisfy all our wants, this is called scarcity. General shortage of everything is scarcity. Because of scarcity we must make choices. These choices depend on the incentives we are faced with. Incentives are rewards that we would reap or a penalty we would face if we made a certain choice. Definition of economics- the social science that studies the choices that
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Competitive Strategies and Government Policies Habib Hogue ECO/365 October 9, 2014 Ronald Merchant Competitive Strategies and Government Policies According to U.S. Consumer Electronics Sales and Forecasts 2010-2015, the industry report by the Consumer Electronics Association (CEA), revenues in the consumer electronics industry is projected to increase by 2 percent in 2014. Such growth translates to $211.3 billion of revenue—the highest recorded total revenue for the industry (Consumer Electronics
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MANAGERIAL ECONOMICS ASSIGNMENT Table of Contents Assignment Question no: 1 3 Assignment Question no: 2 5 Assignment Question no: 3 7 Assignment Question no: 4 9 Assignment Question no: 5 11 Assignment Question no: 6 13 Assignment Question no: 7 16 Assignment Question no: 8 19 Reference 22 Assignment Question no: 1 a) Explain the concept behind the production possibilities frontier. The production possibilities frontier (PPF) or "production possibilities curve”
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