Economics Assessment - 5807 Words

Economics Assessments 1.1.1 Scarcity, Choice, Opportunity Costs, and Comparative Advantage – Using examples, explain how scarcity, choice, opportunity costs affect decisions that households, businesses, and governments make in the market place and explain how comparative advantage creates gains from trade. 1. Willie loves ice cream. He has found a store that sells ice cream cones at a bargain price of $0.50 each. He has just eaten two of these cones but has not decided to buy a third one. Which of the following statements best explains the economic principle at work in Willie’s decision not to buy a third cone? A. Consumers weigh the additional costs and benefits before choosing to buy more goods. B. Consumers†¦show more content†¦Tasha applies for a job as an engineer. D. The city of Upland builds a new nursing home. Answer: B 3. Recently, the hourly wage that parents are willing to pay babysitters increased dramatically. Higher pay will most likely cause which of the following changes in how babysitters divide their out-of-school time between babysitting and other activities? Time Spent Time Spent Babysitting on Other Activities A. No change Decrease B. Increase Decrease C. Decrease No change D. Increase Increase Answer: B 1.2.1 Business structures-Compare and contrast the functions and constraints facing economic institutions including small and large businesses, labor unions, banks, and households. 1. Which is the first step a labor union takes when negotiating contracts with employers? A. Engage in collective bargaining B. Start a plant lockout C. Demand binding arbitration D. Call for a strike Answer: A 2. If one of a firm’s fixed costs rises, A. its profit-maximizing output level will increase. B. its profit-maximizing output level will decrease. C. its profit-maximizing output level will not change. D. it would likely increase its price. Answer: C 3. What is one way to lower the cost of production? A. Hire additional workers B. Create new technologies C. Use more resources D. Cut more resourcesShow MoreRelatedEconomic Assessment : Gdp Size And Growth946 Words   |  4 PagesEconomic Assessment GDP Size and Growth Ireland’s GDP has increased from $218.5 billion in 2010 to $245.9 billion in 2014. Per Capita GDP has also increased over the last five years, from $46,425 to $49,360 (Ireland GDP | 1960-2015, 2015). Despite overall growth, both GDP and per capita GDP experienced low growth from 2011-2013, and even negative growth in 2012. This is explained by the tight fiscal policy maintained by Ireland’s government during this time. In addition to GDP growth, an interestingRead MoreEconomics Assessment Task : The Chinese Economy1836 Words   |  8 PagesHSC Economics Assessment Task One The Chinese economy is one of the biggest economies in the world. It is also the fastest growing economy in the world, with a current growth rate of 7.8%. The Chinese economy has multiple strategies to help promote the economic growth. One of which being, China investing heavily into education. Another strategy is attracting Foreign Direct Investors. Finally, one last strategy is China and their memberships in free trade agreements. Through these strategies ChinaRead MoreA High Level Assessment Of The Global Economic Outlook1109 Words   |  5 PagesA high-level assessment of the Global Economic Outlook will be provided in this section along with a Regional and a Country-specific Outlook. This macroeconomic view of environmental conditions will serve as the foundational element and will set the guiding principles to conduct in-depth industry and company-wide analyses. Global Economic Outlook According to the World Economic Forum’s Global Challenge Initiative, there is a generalized slowdown in emerging market economies, a lowering of commodityRead MoreEntrepreneurship Assessment Strategies For Economic Development1615 Words   |  7 PagesEntrepreneurship assessment strategies for Economic Development: Developing an implementation case for Kingdom of Saudi 1.Introduction Entrepreneurship is an extremely important aspect of the modern economy. Entrepreneurship entails improving business and the development of areas that are good for a business, people and the overall economy of a country (Galindo, Mà ©ndez-Picazo, 2013). Since the need for entrepreneurship has been widely discussed and proven through research (Isenberg, 2010; KhanRead MoreEconomics Assessment : Poverty And Inequity Case Study1342 Words   |  6 Pages11 economics assessment – poverty and inequity case study The causes of inequality and poverty The ways and means of promoting economic and human development (strategies/polices that have been used to achieve change) How successful have these policies been? per capita income is national income/population.So the 1st and foremost reason is over population. The national income of India is progressing at a slow rate.This is because of 1.Defect in planning 2.Non development of industrial sectorRead MoreEconomics and Risk Assessment637 Words   |  3 Pagesmostly traded in this index. This category of products is historically less affected by grim or good economic prospects (Costa, 2011). The 20% Personal and Household index of the DJ Stoxx 600 Super Sector is also an investment possibility because it is capable of withstanding shocks in the share market (Costa, 2011). Companies included in this index are consumer staples capable of withstanding economic downturns. The two sectors: Personal and Household goods and Food and Beverage are also good investmentRead MoreAn Assessment of the Economic Way of Thinking819 Words   |  4 PagesAN ASSESSMENT OF THE ECONOMIC WAY OF THINKING Salah Benkhalaf (Student ID # 30100872) July 23, 2013 BSM407: Business Economics Dr. William Middleton The main goal of economics is to reconcile the unlimited wants of an individual or society and the scarce resources that they have to satisfy these wants and needs.   Whenever resources—categorized into three major groups namely land, labor, and capital—are not efficiently used, economists see this as a problem and they try toRead MoreIb Economics Internal Assessment757 Words   |  4 PagesThe article discusses the effects of a severe flood in the areas of Thailand to the rice production. The rice production falls to 22 from 23 million metric tons. Supply is quantity of goods and services that producers are willing and able to produce at a given price and time period. The decrease in supply of rice in Thailand is shown by the following graph: MARKET OF RICE IN THAILAND The graph above shows that the effect of flood in Thailand decreasedRead MoreLos Angeles County Economic Assessment1691 Words   |  7 PagesLos Angeles County Economic Assessment The modern day society evolves at a rapid pace and these evolutions and quick developments do not tardy to generate a negative impact upon the health of the individuals. More women working outside the home and an increased emphasis on career materializes in a decreased attention to home cooked meals and their replacement with fast food items, which are cost effective, but highly unhealthy. More time spent in front of the computer and the television set translatesRead MoreEssay on Economics Assessment of Brazil2287 Words   |  10 PagesFirstly, Brazil has experienced strong period of economic growth in the past decade, exemplified by the average growth rate of 4.4 per-cent in the five years leading up to 2010 which is much stronger than the average growth rate of 2.2 per-cent in the 1990s. This stronger growth rate as a percentage of GDP is shown in the graph below using data produced by the Brazilian governments Instituto de Pesquisa Econà ´mica Aplicada, (Institute of Applied Ec onomic Research). Secondly, Brazil has also

The Differences Between The Arab People Of Arabia And...

Culture in Syria With the United States being involved in Iraq and Afghanistan, we as soldiers learn a completely new type of culture. We also know that in each of the two countries that their way of living is different from each other even though their religion is same. This is true throughout the world and that is what makes it hard for one to understand why there cannot be more cohesion between countries. The same true of Syria. The way they live day to day and worship is different from either of the other two countries, despite that they are an Islamic country. The Syrian people are different in the approach to people, economy, government, and cultural life. Ethnic and Linguistic The people of Syria draw their influence from several origins over a long period. The Greeks and Romans ethnic influence was negligible. The people of Arabia and Mesopotamia left their influence on what we see today. Even though the Turks, Greeks, and Romans influenced the political and economic structures of Syria, they could not change in the dominant Arab character of the Syrian people. Ninety percent of the population speaks the official language, which is Arabic. There three other languages that are spoken in the country and they include Kurdish, Armenian, and Circassian. Some ancient languages are still present today in the country. They include Maalua, Aramaic, and Syriac, also English and French are used, but that is from speaking with tourists. Religion ReligionShow MoreRelatedThe Origins Of Christianity By Najr ï ¿ ½Ã¯ ¿ ½ N1598 Words   |  7 Pagesspread after the time Jesus Christ, preached to Christianity in Arab lands, residents of tents, Yemen and NajrÄ n. Differently, the history of Church introduces other versions of that arrival, one of them offered by Eusebius (1998), who lived in the first half of the 4th century AD, states that Pantaenus, one of school of the faith in Alexandria men was sent to India (meaning South Arabia) and when he went there, Pantaenus found people of that country believing in Christ and they show him the GospelRead MoreEssay on Comparison of Judaism and Islam1508 Words   |  7 Pagesfound in the basin of Mesopotamia, in the â€Å"Fertile Crescent† of the Tigris and Euphrates rivers. There, in the ancient civilization of Sumeria, the descent of the Patriarchs of the Bible can be traced to an historical basis: â€Å"Abraham was probably born in the Sumerian City of Ur four thousand years ago a scholar invented a label for the descendents of Shem; he called them Semites.† (Chaim Potok, p.23) The story of Abraham and Sarah is the basis of the real distinction between the religions ofRead More The Historical Geography of Mesopotamia Essay2201 Words   |  9 PagesThe Historical Geography of Mesopotamia Mesopotamia is a historical region in southwest Asia where the worlds earliest civilization developed. The name comes from a Greek word meaning between rivers, referring to the land between the Tigris and Euphrates rivers, north or northwest of the bottleneck at Baghdad. It is known as Al-Jazirah, or The Island, to the Arabs (3). South of this lies Babylonia. However, in the broader sense, the name Mesopotamia has come to be used for the area boundedRead MoreThe Origins Of The West East Essay2165 Words   |  9 PagesMesopotamia, the region located between Euphrates and Tigris Rivers (presently called lraq), is mostly termed as the cradle of civilization because it is known to be the principle place where compound urban centers developed. Nevertheless, the account of â€Å"Mesopotamia is inseparably tied to the larger region which constitutes the contemporary nations of Iran, Egypt, Jordan, Syria, Turkey, the Gulf Skates, Lebanon, and Israel† (Hunt 23). The greater Mesopotami a is often termed as Near East or simplyRead MoreReasons For The Country Of Iraq1505 Words   |  7 Pagesremains democratical until the people there could put aside their religious beliefs, political beliefs and ethnic differences for their countries stability. If Iraq could eventually resolve its inner issues with its government and military our government could potentially have a stronghold for any potential future operations we may have in the Middle East. Iraq’s location is in the Middle East and its region borders Iran, Saudi Arabia, Jordon, Syria, Kuwait and TurkeyRead MoreReasons For The Country Of Iraq3302 Words   |  14 Pagesremains democratically ran until people there could put aside their religious beliefs, political beliefs and ethnic differences for their countries stability. If Iraq could eventually resolve its inner issues with civilians, government and military our government could potentially have a stronghold for any potential future operations we may have in the Middle East. Iraq’s location is in the Middle East and its region borders Iran, Saudi Arabia, Jordon, Syria, Kuwait and TurkeyRead MoreSlavery And The Slave Trade2968 Words   |  12 Pagesstone. There was slavery in the bible days between the Hebrews and Israelites. Some do not know besides the Atlantic slave trade there was also the Eastern Slave trade. There was also slavery in European, Asian and Middle Eastern cultures. But the most populated and documented is the slavery of Africans. When learning about the two different slave trades there are common occurrences such as trading for slaves and major differences such as treatment of people forced to work for someone else without payRead MoreCompare and Contrast for the History of the World in Six Glasses.2316 Words   |  10 Pagesdrinks, especially when having such a large impact on the economy as these drinks did; they needed to be able to prosper in even the worst economic stages. Though the similarities seem to show us how the drinks work to impact our economy, it’s the differences that make the drinks unique. Some drinks maybe used as a form of currency, and others may be used as an economic signature. Drinks such as beer were used as a limited form of currency while drinks like coffee and coke were used as a country’s signatureRead MoreThe Birth of Civilization18947 Words   |  76 Pagestools. The earliest period— the Paleolithic Age (from the Greek, â€Å"old stone†)—dates from the earliest use of stone tools some 1 million years ago to about 10,000 B.C.E. During this immensely long period, people were hunters, fishers, and gatherers, but not producers, of food. Paleolithic people learned to make increasingly sophisticated tools and to control fire, and they acquired language. Evidence of religious faith and practice, as well as of magic, goes as far back as archaeology can takeRead MoreEssay about Religious Challenges to Constructing a Democratic Iraq3427 Words   |  14 Pages Abstract Islam has been Iraqs dominant religion for centuries. The religion plays an important part in every aspect of Iraqs society, to include its government. A democracy gives freedom to a nations people, embracing the many characteristics of Christianity. It can be argued that Islam is, and will continue to be a cornerstone of any government in Iraq. Likewise, Christianity will be a cornerstone of many democratic countries. The challenge is to

Free Trade agreement free essay sample

There are many advantages and isadvantages of the Free Trade Agreement between Canada and America, yet Canada is not getting much of a good deal, only in certain ways are Canadians at an advantage. Some advantages are: an increase in production, and better U. S-Canada relations. Some of the disadvantages are: diminished population growth, loss of Jobs, diminished sovereignty, and workers facing concessions on wages, working conditions, and living standards. To begin, an advantage to the FTA is an increase of production. Canadian businesses would increase production to keep up with American producers, so as not to be bought out. With more investment in Canadian businesses due to elimination of tariffs, Canadian industry will grow and expand, increasing production and efficiency (Bain Pg. 376). Another reason why the Free Trade Agreement is an advantage to Canada is that it helps relations between Canada and the U. S, because the two nations have not always seen eye to eye, they now have something to connect them. We will write a custom essay sample on Free Trade agreement or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The FTA helps the two countries get on each others good side due to help from one another in business and trade. To sum it up, there are not very many reasons why the Free Trade Agreement is an advantage, but there are some. There are many reasons why the FTA is a disadvantage. Firstly, the population of Canada isnt increasing like it should; because of the FTA our workers are going to America to get Jobs because America can offer more money to their workers because they have the money to do it, whereas Canadian businesses are lowering wages to make more money to try to keep up with the American production. Canadian workers follow the raw materials to America The land of opportunity to get more money. Everyone leaves to America making our population not increase because if they stay here, the workers may not earn good oney, so they cannot spend it, so goods do not get produced. The result: a downward economic spiral(Finn Pg. 10). Another reason the FTA is a disadvantage is increased unemployment. Many American companies that have branch plants operating in Canada will become redundant and be shut down. These branch plants were established in Canada to provide shelter behind the tariff wall. Tariffs were not added to selling price of their products because they were behind the tariff wall. Under the FTA, there are no tariffs, so the branch becomes unnecessary, and the customers can be supplied equally well if not better and cheaply from one plant in he U. S. The closing of these branch plants results in many Canadian Jobs disappearing (Conklin Pg. 28). Also, many businesses that are owned completely by America, where there is a bigger market and more opportunity for growth, and there are no taxes to sell products to Canada from the U. S under the FTA. The moving and shutting down of these factories and plants creates more unemployment and less Job opportunities (Bowker Pg. 32). Many Canadians considering starting a business in Canada may be lured to America to start their business, because with the removal of ariffs, these companies can supply Canadian customers Just as easily from America while being nearer the larger American markets with the advantage of lower operating costs. This idea of starting businesses in the U. S instead of Canada, takes away Jobs from Canadian workers before even giving them a chance. Another reason for the FTA to be a disadvantage is Canada as a nation losing its sovereignty and independence. Ownership and control of Canadian industry and resources will gravitate towards the United-States under the Free Trade Agreement. Decision making for these industries will be transferred to the boardrooms in America. Economic powers movement is usually followed by political power, so it is probable that Canada could face the eventual loss of political independence. Lastly, an example of the disadvantages of the FTA is Canadian workers facing concessions on wages, working conditions, and living standards (Conklin Pg. 30). Canadas extensive social benefit programs like, health care system, unemployment insurance benefits, and family allowance, which do not exist on the same scale in the U. S, are vulnerable to attack as unfair subsidies to be reduced or eliminated. Which in turn would ncrease the cost of living for Canadians affected by the changes. Money would be needed to help pay for businesses without help, which could lower workers wages and have many workers losing their Jobs. The Americans are basically trying to assimilate the Canadians and take away their distinction and independence. So in summation, the FTA is not very advantageous because of Job loss, minimal population growth, disappearing sovereignty and worker concessions. Therefore, the disadvantages of the Free Trade Agreement outweigh those of the advantages, so Canada is not getting a very good deal.

Write an Analysis of the cover of Tsotsi Essay Example

Write an Analysis of the cover of Tsotsi Essay Write an Analysis of the cover of Tootsie My initial interpretation of the cover of Tootsie was that it was at a time of the day when the sun isnt fully prominent perhaps at Dawn, or it could possibly be at dusk, as the bright orange sun is Just peeking over the tops of the buildings. Also there is the powerful blue sky at the very top of the cover which could show either times of day as it could be forming or leaving. I thought that if it was dawn the male presence on the cover could have Just started or even Just finished work, as its quite common o work shifts like that, this would also explain how he looks tired however, this could also link into the possibility that hes running away. I also noticed that the background was quite poor, and looked poverty stricken like a shanty town, this insinuates that perhaps its based in a third world country such as Africa. We will write a custom essay sample on Write an Analysis of the cover of Tsotsi specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Write an Analysis of the cover of Tsotsi specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Write an Analysis of the cover of Tsotsi specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This links in to the fact that the biggest presence on the cover is a young looking male, as countries such as Africa are stereotypically male dominant cultures, it is showing that perhaps the film is sticking to the stereotypes almost as if to make sure that the audience understand the film. The boy on the cover looks as though he doesnt quite fit in with the back scene, his clothes look expensive and possibly even branded. A leather Jacket and Chuck Taylor converse all-stars arent exactly what youd expect to see in Africa. Also there is the fact that he has what looks like a bracelet on his right wrist, this insinuates that perhaps the boy has money, how he got it we are still unsure of. However, it may not be a bracelet and in fact could be a lone handcuff which shows us that he could be into crime. It would also explain the fact that hes wearing expensive looking clothes and looks so out of place with his surroundings. On the bottom of the cover, only very small is a train, it looks as though it is Just simply passing by. Like a normal train does, but considering it is in a poverty stricken area it could have some other meaning. This could link into the thought maybe the film contains an element of crime, as the train could be used as a method of escape. Allowing him to leave it all behind and start a-new. As this is typical of people from or backgrounds and poor cities, they escape to get away and try and make a fresh start with the facilities and possibilities for a better life. At first I thought that the child in the boys arms could be a sibling due to the fact the boy looked so young and that maybe the story was about the boys adventure to find his mother and reunite not Just himself but his younger sibling. However, after taking a closer look to such things like his background and the possibility of crime. I thought that perhaps the child was his own. That because of crime hed committed an act which left him with a child he didnt necessarily want or need and he was Just left with it due to either promiscuous relations or even committing an act such as rape, or that maybe the childs mother died and the child was left with its biological father. The boy seems to be holding the child close and tight like hes protecting it which insinuates that they have some form of a relationship and bond together so that he doesnt want the baby to get hurt. This then insinuates that the story could be about the struggles of being single and male parent in a third world country. I looked at the comments that have most to me was the one written by the guardian the popular newspaper stated Visceral, intense and powerful by the fact that it was the guardian who commented on this film it already shows us it must have high status as this particular newspaper has very high standards and doesnt Just promote anything. Also the comment makes us wonder if perhaps the story is about something bad which has happened and theyre trying to make up for their mistakes. Looking over the cover you also notice he awards it won and been nominated for. All of which are quite prestigious awards. Insinuating that it must have been quite a popular film especially to have actually won an Academy Award, and to be nominated for not one but two Betas and a Golden Globe. This shows how much of an effect the movie must have had on people. Also you notice the Production brand, Momentum. This is quite a popular brand which means that this film wouldve had a big budget and of course a wider audience which would explain the amazing nominations and award wins. Lastly, I noticed the GE certificate it had been awarded. 15. This certificate is usually given to films that cannot be seen by a younger audience due to the fact that the topics shown were a little too delicate for them so by giving the film this certificate it almost assures you that there will be some delicate issues included in the film as well as some adult themes. Possibly Sex, Drugs, Violence or strong language. This could show the possibility that the child is actually his. Also could show the audience that he is in quite a poor area and has to steal and kill to survive.