Maximisation - Study guides, Revision notes & Summaries

state - self-governing political entity with sovereignty and characteristics that include territrory, population, organization and recognition. Universally, it is the highest political organization. Failed State - A state characterized by social, political, and economic failure. Common Characteristics of a Failed State - a central government too weak or ineffective to control its territory, non-provision of public services, widespread corruption and criminality, refugees and involuntary mov...

What is "Y" determined by? correct answers Labour, Y=f(L) What is the slope and intercept in this equation, Y = aL + B correct answers Slope = aL(rise/run) Intercept = B How do we find the x and y intercepts? correct answers By setting x/y = 0, to get the other How do we find P axis intercept with a demand function? correct answers Make it an inverse demand function. How do we find equilibrium price? correct answers Set Qd=Qs What is the objective of firms? correct answer...

Final Exam - NUR2063 / NUR2063 (Latest MAY 2023) : Essentials of Pathophysiology - Rasmussen Economics - Lecture notes 16 Economics (University of Nairobi) lOMoAR cPSD| ECONOMICS PART 1 CPA SECTION 2 CCP SECTION 2 CIFA SECTION 2 CS SECTION 2 STUDY TEXT GENERAL OBJECTIVES Page 2 ECONOMICS lOMoAR cPSD| This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply the fundamental principles of economics in decision making 4...

FIN2603 Exam Study Notes. Latest Document. The Financial goal of a firm. 1. Introduction. • Firms exist because they satisfy a need by providing a product or service. • Firms do not only meet the need for consumers but also the needs of other firms. • The emphasis on customers needs and on providing a quality product/service to meet the needs of customers is normally stated in the firms mission statement. • Mission statement - describes the fundamental purpose that sets a firm ap...

AQA GCSE BUSINESS PAPER 1 EXAM QUESTIONS AND CORRECT ANSWERS 1. Disadvantages of a sole trader - ANSWER -long hours, unlimited liability, hard to raise money, risky, lack of continuity 2. Partnership - ANSWER -2-20 partners who usually have equal share of profits 3. Advantages of partnership - ANSWER -more ideas, greater range of skills, shared workload, more money to start the business 4. Disadvantages of partnership - ANSWER -unlimited liability, disagreements, shared profits, le...

1.1.1 - The Economic Problem The basic economic problem Scarcity - unlimited wants and finite resources, so choices have to be made. Resources have to be used and distributed optimally. Scarcity refers to the shortage of resources in relation to the quantity of human wants. Scarcity Example For example, if you only have £1 and you go to a shop, you can buy either the chocolate bar or the packet of crisps. The scarcity of the resource (the money) means a choice has to be made bet...

Hi guys I'm a previous IB student that received a level 7 in the HL Economics course and 44 points overall. This doc has a summary of all of my class notes for this part of the new 2020 Economics syllabus in the hl market failure topic.

MNG2601 Assignment 3 Semester 2 2023 . 100% CORRECT questions, answers, workings and explanations.Question 1 Answer saved Marked out of 1.00 Flag question Question text According to John Kotter, activities of managers include _____. a. dealing with uncertainties, controlling and problem-solving b. staffing and aligning and motivating people c. coping with complexity and setting directives d. coping with change, planning and budgeting Clear my choice Question 2 Answer saved Marked out of 1.00 Fla...

7.5 Assignments 7.5.1 First semester assignments SEMESTER 1 ASSIGNMENT 01/2018 CLOSING DATE: 02 March 2018 UNIQUE NUMBER: WEIGHT: 40% of semester mark TL501: Learning units 1 – 4 Prescribed Book: Chapters 1 – 4 This assignment contributes 40% towards your semester mark. Please ensure that this assignment reaches the University before the due date. Answer all the questions on a mark-reading sheet or on myUnisa. IMPORTANT! The first ten multiple choice questions of thi...

A summary of Term 1 Microeconomics UCL 21/22 taught by Martin Cripps - economics of the household. Topics include: strategic form games, extensive form games, extensive game equilibria, monopolies, oligopolies, profit maximisation & adverse selection, moral hazard, contracts and economic mechanisms. Final mark: 75%