Nobody downloaded yet

Econ2010 - Assignment Example

Comments (0) Cite this document
Summary
e) “The marvel is that in a case like that of the scarcity of one raw material, without an order being issued, without more than perhaps a handful of people knowing the course, tens of thousands of people. . . .are made to use the material or its products more sparingly; i.e…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.3% of users find it useful
Econ2010
Read TextPreview

Extract of sample "Econ2010"

Download file to see previous pages Opportunity cost results from high commodity prices that make the purchasers unable to get their preferred commodities rather, they opt for other commodities.
Speculation can be described as a means by which an individual makes decisions without having concrete evidence. An example of a speculation is that an individual buying the shares or shares of a company believes that he is making an investment. He might make a profit or a loss from the shares he buys from the company.
When the price ceiling is at Pc, the market equilibrium is not reached, and the producers or suppliers accrue losses from the current prevailing prices. The impact of the lost gains of commerce is that producers or suppliers are discouraged from transporting their product into the market resulting to shortage of the products in the souk.
An economic distortion is a situation when suppliers are allowed to charge their prices in the market because the government has stopped allocating its financial resources. The difference is that the landlords will not particularly benefit because the government will be controlling the prices that they are charging to tenants (Kahn, 123).
Loss of price floor policy will mean that individuals will have possession of various goods that may positively or negatively affect the state. An example is that teenagers in the society will have access to alcoholic beverages.
Exporting a commodity refers to the process where a product is being transported out of the country. It is advantageous to export a product under a price floor policy because it relives exporters from paying taxes.
Protectionism is a law that is placed to protect its citizen’s welfare in trade matters and jobs from foreigners and international trade by the government. An example is that the law gives a country’s citizen a higher opportunity of getting a job within the country than a foreigner (Kahn, 11).
The cost of protectionism is expensive to the countries applying the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Econ2010 Assignment Example | Topics and Well Written Essays - 250 words”, n.d.)
Econ2010 Assignment Example | Topics and Well Written Essays - 250 words. Retrieved from https://studentshare.org/miscellaneous/1604887-econ2010
(Econ2010 Assignment Example | Topics and Well Written Essays - 250 Words)
Econ2010 Assignment Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/miscellaneous/1604887-econ2010.
“Econ2010 Assignment Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/miscellaneous/1604887-econ2010.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Econ2010

What can the human resource management department contribute to the development of successful leadership within an organization

...?What can the human resource management department contribute to the development of successful leadership within an organization? Introduction Peoplecomprise various organizations’ most crucial and vital element defining their success or failure. The accomplishment of organizational goals largely depends on the availability and utilization of resources: men, money, machines, materials, methods and markets, the interaction and interrelation are determined by human resources. If the latter is available and capable, all other ingredients can be of great use to the organization. It is through people that diverse resources can be harnessed and developed; otherwise, these would be neglected and lost. Man odes or undoes what exists. Man creates... can the...
4 Pages(1000 words)Assignment

Professional Team Sports

...profits. Sensational players will mean a more entertaining game and many winnings, which all translate to profits from increased spectators attending matches and the income from winning championships (Rodney, 2004:88). Clubs invest on basis of increasing the total earnings to levels higher than the costs. If y represents the profits in a given season, then the objective is: Max y = max (R-C) Where R is the season’s total revenue and C is the total cost for the season. A club increases its marginal profitability if the revenue generated by acquisition of one talent is equal to the cost associated with acquiring of the talent as indicated below. Figure 3: effect of marginal costs on profits Retrieved...
8 Pages(2000 words)Essay

The Influence of the Professional Sports Leagues

...in the season. According to the illustration below, a club would increase its profitability if the cost of talent acquisition were equal to revenue generated in the season. Retrieved from http://spot.colorado.edu/~kaplan/econ2010/tests/exam2_files/image002.jpg It is evident from the graph that high marginal revenue creates an opportunity for the club to increase its profit margin, which would in turn influence its quest for new talents. Sports clubs prefer hiring best talents in the market since it leads the club to profit maximization. Budgetary allocation of various clubs dictates the expenditure of the clubs (Dobson & Goddard, 2011:118). By equating total revenue to total expenditures, the clubs are to establish...
8 Pages(2000 words)Research Paper

Average Cost Curves

...The Long and the Short of Average Cost Curves The Acme Lawn Mower Company has solidified the design of its revolutionary new mower. The revolutionary all wheel drive mower has been well accepted by the marketplace and they are in a position to sell all they can manufacture. They are ramping up production levels and will soon approach full capacity. In the short run, they are concerned about the quantity they can build that will maximise profits from their existing capital. They are also making decisions on how to best utilise their labour force and management team. In the long run, they are planning for future expansion and making a determination whether to expand the existing facilities or build a second plant. These critical business... Long and the ...
4 Pages(1000 words)Case Study

A Raisin in the Sun by Lorraine Hansberry

...A Raisin in the Sun Affiliation Appendix "A Raisin in the Sun," Act I (Questions Where and when does the play take place 2. Before there is any dialogue, the author goes to great lengths to describe the furnishings in the Younger's home. Why does she do this and what does it say about the family's life 3. Describe, in your own words, the Younger's home. 4. Why does Walter give his son more money than he needs for school How does this leave Walter, in terms of money he himself needs in order to get to work What does this indicate about Walter's personality 5. Walter, Bennie, and Mama each want to use the $10,000 for different purposes. What are those purposes, and what do they tell you about who these people are 6. Ruth doesn't have... Raisin in the...
4 Pages(1000 words)Book Report/Review

Article Critique

...Kids Growing Up Scared By J. Adler J. Adler’s article Kids Growing Up Scared is a frank commentary on the manner in which childhood has been erodedby modern man. In today’s society adults have adapted to changes that have influenced the manner in which they raise children. These changes are characterized by guiding principles which are “sexual, economic and political” in nature. (Adler) With these three tenets as guiding principles for raising children today, children have as much responsibility for their own welfare as adults do. This shared responsibility brings the child out of the safe confines of childhood and brings him sharply into an adult world with the result that innocence is lost at an early age. It is difficult to argue... Growing Up...
2 Pages(500 words)Essay

Econ2010-4

...ECONOMICS ASSIGNMENT 4 _______________________________ Define what is meant by “NEGATIVE EXTERNALITY” and “EXTERNAL BENEFIT”.Negative externality occurs when the party making the decision will not have to fully account for the decision outcome. In case of the negative externality, the society suffers the cost which is usually higher than the cost paid by the consumer for example air pollution while external benefit is the benefit which is excluded in the market price since the demand price does not include it. An example of external benefit is education where the society benefit by having educated people in it (Bercovitz and Will, p.63). 2. Look at the graph below: a) Is there an externality situation in the antibiotics market... ASSIGNMENT...
1 Pages(250 words)Assignment

ASSESSMENT 2

...or less independently and makes actions without the direct influence of the other firm’s actions. Monopolistic market structures are also characterized by increased advertisement costs as firms agitate to increase the presence in the market by promoting their products. Competition in this market structure is thus non-price competition that is supported by vibrant advertisements and promotion in order to attract more clients and consumers (Blackstone and Larry 13). Monopolistic market structure has a fairly elastic demand curve due to the existence of close substitutes, which limits the monopoly power that one firm may gain. Adopted from http://spot.colorado.edu/~kaplan/econ2010/section11/section11-main.html In the...
10 Pages(2500 words)Essay

Coca-Cola SCM

...Coca-Cola SCM Affiliation Coca-Cola SCM Supply Chain Management Function What is supply chain management? Supply chain management is the running of a system of businesses that are linked. The businesses are linked by one major aim; the eventual availing of a service or product to the customers. Supply chains characterise the current trend in competition among businesses as they compete, not as a single business, but inside supply chains. Supply chain management avails the chance to seize the collaboration of the integration of businesses. Hence, it provides a novel means of running the linkage among the supply chain management business partners. It is a functional system that comprises the running of the source materials’ movement... SCM Affiliation...
4 Pages(1000 words)Case Study

Sigmund Freud

...Sigmund Freud Psychology of the April 20, Sigmund Freud Foundations: Freud- Summary Sigmund Freud happened to be a personality that had a profound influence on 20th and 21st century. He lived in Vienna and migrated to England to escape Nazis. Many people disliked him and considered him to be a sexual renegade or an aberration to the Christian way of life. Freud suggested so many things like penis envy that were not rational. However he also gave the theory of unconscious motivations and unconscious dynamics that had a pervasive and profound influence on humanity. Freud suggested three cognitive systems of human personality that are ego, id and superego. Id works on pleasure principle, ego works on reality principle and superego represents... Freud...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Econ2010 for FREE!

Contact Us