Review Sheet Exam 2
I) Chapter 20: International Finance
Nominal exchange rate: Define and Interpret
- the rate at which you can exchange one currency for another
What changes the nominal exchange rate?
Know what can shift the demand and supply for a curr
The Market s for Factors of Production
Land, Labor, Capital
Inputs used to produce goods and services.
Why are labor markets different from product
Sellers of labor care abo
Firms in Competitive Firm
Characteristics of Competitive Markets
Many buyers and sellers
Low barriers to entry/exit
No market power
Market vs. Firm Demand Curve
Market demand curve
Firm demand curve
THE COSTS OF PRODUCTION
Business, enterprise, company are used
interchangeably with Firm.
sole proprietorships, partnerships and corporations
national or multinational
Public company vs. Private company
What is the goal of business?
Can you name these companies from their
Can you hear me now?
All the taste, no caffeine.
Sniffling, sneezing, coughing, aching.
Get the $6 burger
Wimpy, wimpy, wimpy
Any others you can think of?
Governments use taxes to raise revenues for
Roads, schools and national defense
The manner in which the burden of a tax is
shared among participants in a market (buyers
Taxes on sellers
Questions to Consider
What determines how much market power a firm
How many bookstores are on or near your
campus? If there were more, how would the price
of new and used books be affected?
What is OPEC? Why would OPEC h
Public Goods and Common Resources
Cannot be consumed by another
Candy bar, car, cell phone
One persons consumption does
not exclude others
Parks, flood control, beaches
Characteristics of Goods
The Origin and Diversity of Our
Evolution Through Adaptation
Evolution- changes in the genetic makeup of a
population over generations
Genes- the basic physical units of heredity that
specify the biological traits and cha
Earnings and Discrimination
Determinants of Equilibrium Wages
Ability, effort and chance
Cost of living
Barriers to entry
Chapter 3: Ethnographic
Research: Its History, Methods,
History of Ethnography
Ethnography: First hand observation of a
culture, where the anthropologist studies &
lives with people for a long period of time.
Ethnology: The study & analysis
Minimum Wage Advocacy Essay
Minimum wage has been a controversial issue for the many decades. On one side, the
workers are constantly pushing for an increase in the minimum wage in order to provide for their
families. On the oth
THE PROFIT-MAXIMIZING RULE DOES NOT GUARANTEE ANY
PROFITS, BUT IF A PRODUCER IS HAVING LOSSES WHEN
SHOULD IT SHUT DOWN?
IF A COMPANY STOPS PRODUCING TEMPORARILY, WILL IT
STILL HAVE ANY COSTS?
Banana Republic is an American clothing store that has a lot of retail stores around the
country. They have a very distinct style for both men and women. I prefer Banana Republic over
other clothing stores becaus
Essay 3 Walmart
There are many retail stores in todays society. However, some retail stores are very
successful while others are struggling to stay open. The stores layout and marketing strategies
will impact the success of a re
Welcome to Corporate Financial Accounting (Acct
Carol Flowers, Professor of Accounting at Orange Coast College, over 20 years of
Fundamentals of financial accounting relating to corporations. Application