1. Opportunity cost is basically anytime you have to make a choice and you place value upon
your choice without much thought. When you make one choice over another it is because the
one you chose holds more value than the choice you did not choose. In oth
1. What are the functions of money?
There are four primary functions of money, medium of exchange,unit of account,
store of value and standard of deferred payment. Medium of exchange is something
that is normally accepted by sellers in exchange for any go
Industrial Revolution is the change from the use of hand methods of
manufacturing to machine methods. This change, which began in England
revolution because it brought vast changes in the way peo
April 13, 2010
National Unemployment Rate
My hypothesis is on the national unemployment rate and how
does it cause the downsizing in companies and loss of jobs.
has been affected by many economical changes ove
Textile Industry1730 - 1760
A. What is industrial Revolution
B. How did the industrial Revolution affect the textile industry?
C. How did the industrial Revolution bring change to Britain?
II.Textile inventions during the Britain in
The Textile industry in Britain was defined as a widespread
textile industry in Britain was an industry primarily used
for manufacturing of clothing as well as textile machinery.
Assignment # 5a.
1. What are the characteristics for the purely competitive firm? Explain each one of them and why they are
In a purely competitive firm the follow characteristics applies
1. There are many buyer
March 3, 2016
1. What are the functions of money? (10)
Money is a medium of exchange. Meaning, Money is acceptable to a wide
variety of parties as a form of payment for goods and services.
Money is a unit of account. It is a way of measu
1. What is the difference between explicit and implicit costs? Which of the costs is most
closely associated with opportunity costs and why? Give three examples of each type of
costs that you have incurred over the past 30
1. What are the goals of monetary policy? Explain each one and how it works (20)
Money policies represent the different actions taken by the Fed to manage the economys interest
rate and money supply. They set up monetary po
1. What are the characteristics for the purely competitive firm? Explain each one
of them and why they are important.
The term pure competition can be described as a market that has wide range of
different competitors that are selling the exact same produ
What is the difference between discretionary fiscal policy and automatic fiscal
policy? Is it discretionary or not? Explain.
Discretionary Fiscal policy is used when there is a problem within inflation or
unemployment in which they set up a policy obje
Why are you seeking this particular degree?
Pursuing a masters degree has always been one of my long lifetime goals, I strongly feel that
obtaining my Masters degree is an immense responsibility that I owe to myself as well as a
devotion I have to my fami
Management Information Systems are utilized by businesses and firms worldwide.
Management Information Systems (MIS) have other subsets, such as Decision Support Systems
and Executive Information Systems. Management Information Systems get
The demand curve shows the relationship between the price of a product and the quantity of the
product demanded. Anytime there is an increase or decrease within the price, there is moment
along the demand curve.
Pursuing a masters degree has always been one of my long lifetime goals; I strongly feel
that obtaining my masters degree is an immense responsibility that I owe to myself as well as
my family. With that being said I consider obtaining a masters degree as
Personality Profile Questionnaire
Compare and contrast fiscal policy and monetary policy in terms of their flexibility, speed, and their effectiveness in both
recessions and times of inflation. Then, explain the difference between the discount rate, federal funds rate, the prime rate
In the year 1994, the North American Free Trade Agreement (NAFTA) was put into
effect in turn, it created one of the worlds largest free trade zones while paving the
way for strong economic growth and rising prosperity for Canada, the United States,
Fiscal policy should be flexible while still trying to maintain discipline. Fiscal policy
is often viewed as less efficient than monetary policy in terms of guiding the economy
because in the majority of other countries, it takes a very long time to get a
Availability of close substitutes
Passage of time
luxuries versus necessities
Definition of the market
The share of the good in the consumers budget
Availability of close substitutes
Consumers react to change in the price of a product dependi
Management Information systems are utilized by businesses and firms worldwide.
Management Information Systems (MIS) have other subsets, such as Decision support Systems
and Executive Information Systems. Management Information Systems get t
Economics: Final Exam
1. Compare and contrast fiscal policy and monetary policy in terms of their flexibility, speed, and their effectiveness in
both recessions and times of inflation. Then, explain the difference between the discount ra