Fundamental Economic Concepts

  • Fundamentals Concept of Planning

    FUNDAMENTALS CONCEPT OF PLANNING A plan may be classified according to time horizon/duration as follows 1. LONG-TERM OR PERSPECTIVE PLAN- extends from 10 to 20 or even 25 years. Educational planning has to be based on a concept of the future. The planners should envision the kind of society; the kind of political, intellectual and social leadership. 2. MEDIUM-TERM PLAN-usually 4-5years, is prepared against the backdrop of a long-term perspective plan. It has proven operationally to be most

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  • Fundamentals of Managerial Economic Theory

    Fundamentals of Managerial Economic Theory Managerial economics is the science of directing scarce resources to manage cost effectively. It consists of three branches: competitive markets, market power, and imperfect markets. A market consists of buyers and sellers that communicate with each other for voluntary exchange. Whether a market is local or global, the same managerial economics apply. Managerial economics applies to Businesses (such as decisions in relation to customers including

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  • Fundamental Economic Concepts

    Fundamental Economic Concepts • • • • • • • • • Demand, Supply, and Equilibrium Total, Average, and Marginal Analysis Finding the Optimum Point Present Value, Discounting & Net Present Value Risk and Expected Value Probability Distributions Standard Deviation & Coefficient of Variation Normal Distributions and the Standard Unit Relationship Between Risk & Return Slide 1 Demand Curves PRICE/Q $5 • A demand curve shows the greatest quantity of a good demanded at each price the consumers

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  • Economics Concepts

    AP MICROECONOMICS CH 20 QUIZ NAME___________________ _____1. Economic costs can be best defined as a. any contractual obligations that results in a flow of money expenditures to resource suppliers b. any contractual obligation to labor or material suppliers c. payments a firm must make, or income it must pay to resource suppliers to attract those resources from alternative uses, including opportunity costs d. all costs exclusive of payments to fixed factors of production

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  • Economic Concepts

    ------------------------------------------------- Top of Form  Powered by JRank Bottom of Form Reference for Business Encyclopedia of Business, 2nd ed. Reference for Business » Encyclopedia of Business, 2nd ed. » Man-Mix » Managerial Economics MANAGERIAL ECONOMICS Ads by Google 1 year diploma courses - Info on Courses, Scholarships & Admissions from IDP Experts. -india.idp.com/18001022233  SWOT Analysis Tool - Get a free 30 day trial of Mindjet the leading Mindmapping Tool! -www.Mindjet

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  • Economics

    (domestic income at factor cost) per number of persons in employment The wage share is a (rough) indicator for the distribution of income between capital and labour. In the short term it moves countercyclically to the business cycle. Ans 3 In economics, the marginal utility of a good or service is the gain (or loss) from an increase (or decrease) in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that the first unit of consumption

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  • Fundamental Concepts of the Field of Industrial/Organizational Psychology

    Fundamental Concepts of the Field of Industrial/Organizational PsychologyFundamental Concepts of the Field of Industrial/Organizational Psychology Rosa Parker Psychology 435 Industrial/organizational Psychology October 12, 2010 Andrea Caballero, Ph.D Fundamental Concepts of the Field of Industrial/Organizational Psychology The field of Industrial/OrganizationalPsychology has been rapidly growing after it was originally used during World War I and has become an imperative part of any large

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  • Fundamentals

    Fundamentals Macroeconomics is the study of the economy as a whole as opposed to microeconomics, which is the study of the economy within smaller sectors. It is a wide and varying subject. In order to grasp the subject there are some fundamentals that one needs to be familiar with. They are the gross domestic product (GDP), real gross domestic product (GDP), nominal gross domestic product (GDP), unemployment rate, inflation rate, and interest rate. These are the basics and interact with each other

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  • Fundamentals of Macroeconomics

    Fundamentals of Macroeconomics paper ECO/372 Fundamentals of Macroeconomics paper The following is a breakdown of some of the important concepts of Macro Economics. This will describe in detail what Gross domestic product, Real GDP, Nominal GDP, Unemployment rate, inflation rate, and interest rates affect the economy. These are all concepts of the National Income as well. One of the most important objectives of the government is to increase the level of the rate of economic growth which is

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  • China’s House Price: Affected by Economic Fundamentals or Real Estate Policy?

    Price: Affected by Economic Fundamentals or Real Estate Policy? © Higher Education Press and Springer-Verlag 2010 Abstract Many theory and empirical literature conclude that house price can reflect economic fundamentals in the long-term. However, by using China’s panel data of 35 main cities stretching from 1998 to 2007, we find that there is no stable relationship between house price and economic fundamentals. House price has deviated upward from the economic fundamentals since government started

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  • Economic Tool and Concepts

    Economic Tool and Concepts HCS/552 Jayme Carrico 2013 Economic Tool and Concepts The health care industry has been experience for many century the shortage of nurses. It is perceive by the health care industry the shortage of nursing supply than the demand across the country. The demand for nurses in every health care organization growth in a daily basic as the technology advance. The consumers are always demanding for more personalize and quality of health care services at the time

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  • Economic Concepts Unit 1 Ip

    Unit 1 Individual Project Economic Concepts Lamar Dolby ECON220-1204B-04 Faime Moussavi October 7, 2012 Abstract Michelle and James are two people faced with opportunity cost decisions. They both can produce chickens and potatoes or one or the other. They both live in isolated regions but share the same resources. When faced with opportunity costs one has to decide what they have to give up in order to gain something they want. In the scenario Michelle can grow 200 potatoes per year or

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  • Fundamentals of Macroeconomics

    Fundamentals of Macroeconomics ECO/372 Principles of Macroeconomics Fundamentals of Macroeconomics Macroeconomics is a type of economics focused on performance and structure of the economy as opposed to individual markets. That focus macroeconomics includes evaluating growth. Clear understanding of macroeconomics starts with the interpretation of basic concepts and definitions. Definitions such as gross domestic product (GDP), differentiation between nominal and real GDP as well as rates

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  • Economic Concepts

    Economic Tools and Concepts Rakia Rountree HCS/552 October 28, 2013 Chester Brown Economic Tools and Concepts Trillions of dollars are spent on health care related issues in the United States each year which is more than any other industrialized nation; the majority of the expense is related to treating and managing chronic diseases such as various types of cancers. The impact of the declining economy can be attributed to the significant rise in health care cost which has affected work productivity

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  • Health Economic Tools and Concept

    Health Economic Tools and Concept Chinenye Nwokey HCS/522 December 2 2013 Amy Shoales Economic Tools and Concept The United States is presently confronting a nursing shortage which is likely to get worse in the future. The shortage is compelled by amount of reasons linked to the employment and maintenance of nurses. Less young females going into nursing schools as professional prospects in other areas have stretched. Countless eligible candidates are denied admission due to a scarcity of

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  • Finance Fundamentals

    As dictated in fundamental Macroeconomic theory, there are four main components that are involved in calculating a nation’s GDP: personal consumption, business investment, net exports and government spending. The formula, therefore, Y= C+I+E+G, provides a mathematical framework that shows the relationship of Government spending as it relates to growth in GDP. Unfortunately, the financial atmosphere and economic trends in the last 5 years has suggested that government

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  • Economic Tools and Concepts

    Economic Tools and Concepts Wesley Hill HCS/522 Health Care Economics University of Phoenix Introduction Current health care issues in the United States use economic tools and concepts to understand and explain how to improve quality and minimize cost. Although there are many issues facing health care, one area of focus is a nursing shortage in health care facilities. Three economic tools that will be focused on in this essay are choice and opportunity cost, supply and demand, and marginal

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  • Economic Tools Concept

    Economic Tools and Concepts There are numerous economic tools and concepts that relate to the health care field. When discussing the current nursing shortage, and the nursing shortage that will continue through the future, scarcity, supply, and demand are just a few of the important concepts to address. According to Explorehealthcareers.org (2012), “The United States has a serious shortage of practicing nurses” and “demand for frontline workers is expected to increase 50% over the next five years

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  • Fundamentals of Macroeconomic

    Fundamentals of Macroeconomic Macroeconomics illustrates a wider picture of economies. Macroeconomics studies how human economies work on a large scale. Business produces products and services for consumers to purchase. After that governments adds concepts for instance, taxes and inflation to these services and goods then they move through a market. Macroeconomics is the study of this as a whole. In other words, it is the study of the economy, but from a wider point of view. Macroeconomics is really

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  • Economic Tools and Concepts

    Economic Tools and Concepts Dana Lawson HCS/552 December 16, 2013 Professor Amy Shoales Economic Tools and Concepts The U.S. health system is set to enter into a new era with the full realization of the individual mandate as part of the Affordable Care Act in 2014. About 34 million people will enter the health care system in early 2014, some with complex medical conditions that require the attention of primary care and specialty physicians (DeNavas-Walt, Proctor, & Smith, 2013). Despite

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  • Economic Tools and Concepts Paper

    Economic tools and concepts paper Nadine Ranger HCS/552 November 29, 2010 James Hamilton Economic Tools and Concepts Paper One of the most prominent topics in the society today is health care reform and government plays a large role in regulating managed health care systems. A vast difference between movement along and shift in the demand curve for the different health care systems. For instance, the government funds Medicaid and Medicare to provide services to the indigent and disabled

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  • Environmental Fundamentals

    Environmental Fundamentals University of Phoenix ENV/100-Principles of Environmental Science Environmental Fundamentals An analysis of the fundamental principles concerning environmental science provides and understanding of the study and also the importance of human behaviors having effects on the natural environment. Principles of science and technology assist with determining how environmental problems occur and also assist with generating solutions to minimize problems from arising. The

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  • The Fundamentals of Managerial Economics

    Chapter 01 The Fundamentals of Managerial Economics   Multiple Choice Questions   1. | The higher the interest rate:    A.  | the greater the present value of a future amount. | B.  | the smaller the present value of a future amount. | C.  | the greater the level of inflation. | D.  | None of the statements associated with this question are correct. | |   2. | If the interest rate is 10 percent and cash flows are $1,000 at the end of year one and $2,000 at the end of year two

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  • Economics

    life" Milton Friedman - "is the science of how a particular society solves its economic problems." Lionel Robbins - "the science which studies human behavior as a relationship between ends and scarce means which have alternative uses." David Simon - Economics is a social science that attempts to use the scarce resources to attain a maximum fulfillment of mans' unlimited wants. Scarcity: All economic questions arise from a single and inescapable fact: you can't always get what

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  • Fundamental Concept of Information System

    LECTURE 1 Fundamental Concepts of Information Systems Learning Objectives     Understand the concept of a system and how it relates to information systems Explain major components of an information system Present major types of information systems in the business world Explain how a firm can use IT to gain competitive advantages What is a system?  A system     Is a set of interrelated components With a clearly defined boundary Working together to achieve a

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  • Fundamental Economic 372 Week 2

    Fundamental of economics ECO372 week 2 Student’s Name Institutional attachment The purpose for this paper is to analyze the some of the macroeconomic scenarios that we always see or her in the business community. Firstly, we will look how the purchasing of groceries can have effect on the economy. Next, the paper will study how massive employ layoffs can cause ripple in the economy then lastly to examine the impact of decrease taxes. All these concepts will underline the fundamental importance

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  • Fundamentals of Micro Economics

    Fundamentals of Macroeconomics Paper Dana Galasso ECO 372 University of Phoenix Professor Kirk The economy of our country is split into three different categories. These three categories are household, business, and government. Each of these three categories are separate, but yet connected. These categories are not only interconnected amongst themselves, but they also help connect the United States economy to the rest of the world economies. There is a constant among

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  • Fundamentals

    Fundamentals of Macroeconomics Zachary Evans University of Phoenix ECO/372 Write a 700- to 1,400-word paper summarizing the results. Consider the following examples of economic activities:• Purchasing of groceries• Massive layoff of employees• Decrease in taxes Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity. Relate at least one current event to the activities. Fundamentals of

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  • Implications of Health Economic Concepts

    Implications of Health Economics Concepts for health Care Marcus Bright Strayer University Health Economics HSA 510 Dr. Jeff Kaluyu October 27, 2014 Abstract Income Inequality and Rising Health-Care Costs in the United States shows that health costs are the biggest driver of income inequality. This reason has made health care economics to go through multiple renovations leading from money which is the substance of health care economics and that has become vital to economists, policymakers

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  • Economic Concepts

    on the economic concepts of opportunity costs, absolute and comparative advantages as well as the purpose of trades. The paper takes a scenario and using the data, analyzes the opportunity costs each person achieves as well as who has the absolute and comparative advantages between both products of corn and pigs. Also, using research from the book and the internet, I was able to tie in these concepts to international businesses and nations alike, determine the important of these concepts in the economy

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  • Video Compression: an Examination of the Concepts, Standards, Benefits, and Economics

    Compression: An Examination of the Concepts, Standards, Benefits, and Economics ITEC620 April 14, 2008 To accommodate the increased demand for digital video content, compression technology must be used. This paper examines the most commonly used compression formats, the MPEG-1, MPEG-2 and MPEG-4 video compression formats, their relative benefits and differences, the delivery methods available for digital video content and the economics of video content delivery.

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  • Fundamentals of Macroeconomics

    Fundamentals of Macroeconomics Xxxxxx xxxxxxxxx ECO-372 March 16, 2015 Fundamentals of Macroeconomics Astrophysicists will tell you that energy cannot be destroyed, only changed. While in the process of researching the fundamentals of macroeconomics and how all the different sectors work with, for, and even against each other at times, I decided to focus on the concept of circular flow. Like energy, value can only be changed or repurposed, but it never actually disappears. A circular flow

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  • Economic Tools and Concepts

    Economic Tools and Concepts Economic Tools and Concepts The core of economics is known as the law of demand. Every time you pull out your pocketbook to purchase something, the law of demand is at work. The better you understand the law of demand, the better you will understand why you pay different prices for different goods. Demand is the relationship between the quantities of a good or service consumers will purchase and the price charged for that good. The law of demand states that the quantity

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  • Fundamentals of Macroeconomics

    Fundamentals of Macroeconomics Lucas Gonzalez Course/Number March 23, 2015 Dr. Yi Fundamentals of Macroeconomics Each of the economic activities that will be discussed in this assignment has its way to effect government, households and businesses. Each activates will have my personal example so the paper may seem more past tense phrases. Now, this is just some of the activities but the economic has much more than just mentions in this article unfortunately I will not be covering

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  • Fundamentals of Macroeconomics

    Fundamentals of Macroeconomics Ian Mullins ECO/372 June 21 2015 Faculty Name Fundamentals of Macroeconomics The study of macroeconomics is an academic discipline that examines the interactions of individuals on a large scale. Society as we know it is a constantly evolving collection of trends and behaviors that can be quantified into numerical results. The following paper discusses several macroeconomic scenarios that we commonly see in society. First, the simply act of

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  • The Key Concepts in Economics

    Assignment 1: The Key Concepts in Economics Markisha Dill William Creamer Principle Of Economics May 31, 2015 Before sitting down to complete this assignment, I thought thoroughly about economics as a whole. My interest was whether economics was considered an exact since, i.e. Mathematics. Economics has been described as a science, numerous times. So in my search to find out whether economics was a science, I looked at an online dictionary to see how these words were defined. First I looked

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  • The Key Concepts in Economics

    Assignment: The Key Concepts in Economics Curing Chronic Homelessness ECO100 The topic I chose is about homelessness and the cure that is sweeping the nation. There are multiple types of homeless, some are short termed, often uncounted as they are able quickly recover from the reason which left them homeless in the first place. Some are considered chronically homeless, which can mean a couple things; the first is that the homeless person has gone without a steady home at least four times out

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  • Implications of Health Economic Concepts for Healthcare

    Assignment 1: Implications of Health Economic Concepts for Healthcare Select at least five (5) economic concepts covered in the first four weeks’ readings, and discuss the primary manner in which these concepts impact the world of health care economics. Some examples of selected concepts are health demand and supply, elasticity, resources, health measures, and costs. Write a four to six (4-6) page paper in which you: 1. Assess the value of healthcare professionals and decision makers

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  • Explain the Fundamental Differences in Political, Social, and Economic Ideas Which Separated the American Colonies and Great Britain After 1763.

    Assignment 2: Explain the fundamental differences in political, social, and economic ideas which separated the American colonies and Great Britain after 1763. In the years following 1763 the American Colonists were looking for separation from Great Britain due to political, social, and economic differences. Politically the American Colonists wanted freedom to govern their colonies without influence from Great Britain. Socially the American Colonists sought to build a set of ideals based upon

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  • Fundamentals

    Macroeconomics Fundamentals of Macroeconomics Paper Lisa Goodman ECO/372 8/20/2015 Laurie Klosk-Gazzale Fundamentals of Macroeconomics Paper Massive layoff of employees is huge problem skyrocketing the unemployment rate because companies are globalization which increase their profits and save the consumer money by giving jobs international instead of locally where minimum wage is higher. Calabresi (2015) “In an unhealthy economy, a single lost job becomes infectious, combining with

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  • Key Concepts in Economics Week 8

    The Key Concepts in Economics “Unemployment & Our Economy” Zarina Gilchrist Professor Denalane, Economics 100 November 20, 2015 Upon doing my research, I viewed several different articles about our economy and the effects in the United States. The articles I read in USA Today & Buzzle, discusses several different areas of our economy and lack of growth such as our Fiscal Crisis, Unemployment, Outsourcing, Reduction In the Output, Reduction in Tax Revenue, Rise in Government Expenditure

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  • Fundamental Concepts of the Field of Industrial/Organizational Psychology

    Fundamental Concepts of the Field of Industrial/Organizational Psychology Rosa Parker Psychology 435 Industrial/organizational Psychology October 12, 2010 Andrea Caballero, Ph.D Fundamental Concepts of the Field of Industrial/Organizational Psychology The field of Industrial/Organizational Psychology has been rapidly growing after it was originally used during World War I and has become an imperative part of any large organization here in the United States as well as around the

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  • (a) with the Help of Figure, Explain Three Economics Concepts That Are Represented in the Production Possibilities Frontier.

    Question 1 (a) With the help of figure, explain three economics concepts that are represented in the production possibilities frontier. (b) The following events occur in the market for Malaysian Airline System (MAS). I. The crash of MAS flight MH17 in Ukraine. II. The wage rate paid to MAS captain and cabin workers decreases. III. The price of Air Asia tickets increase. IV. People expect the price of MAS economic class tickets to fall next school holidays. With the help

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  • The Key Concepts in Economics

    Assignment: The Key Concepts in Economics Jennifer McDonald Professor Camille Castorina ECO 100 - Principles of Economics February 28th 2016 The Key Concepts in Economics The economic article that I analyzed is “Unemployment rate falls to 5.1 percent, but Americans are not finding pay increases,” from The Washington Post, written by Chico Harlan and Ylan Q. Mui. The key points of this article discuss a possible slight increase in interest rates, the decrease in the unemployment rate, non-management

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  • Managerial Economics - Explain Concept of Training Evaluation

    Need Answer Sheet of this Question paper, contact aravind.banakar@gmail.com www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 MANAGERIAL ECONOMICS Section – A (Marks – 25) Attempt all questions 1. How is Price Elasticity measured? 2. State and explain the ‘Law of variable proportions’ 3. Define ‘Production Function’. Explain with diagram, the three stages of the Law of Variable Proportions. 4. Define production function. State and explain the ‘Law of Diminishing

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  • Managerial Economics - What Is Segmentation Explain Product Segmentation and Market Segmentation Concept.

    Need Answer Sheet of this Question paper, contact aravind.banakar@gmail.com www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 MANAGERIAL ECONOMICS Section – A (Marks – 25) Attempt all questions 1. How is Price Elasticity measured? 2. State and explain the ‘Law of variable proportions’ 3. Define ‘Production Function’. Explain with diagram, the three stages of the Law of Variable Proportions. 4. Define production function. State and explain the ‘Law of Diminishing

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  • Fundamentals of Macroeconomics

    Part 1 Fundamentals of Macroeconomics Macroeconomics puts a focus on how decisions made both on an individual level and by corporations and government has Macroeconomics is known as the study of behavior in relation to the aggregate economy and studies economy-wide issues such as changes in unemployment, income levels and many various other factors (Investopedia, 2012). This paper will define many of the terms used when it comes to dealing with macroeconomics and cover a few examples of economics

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  • Economic Concepts

    Economic Concepts and Current Events The Federal Reserve, fiscal policy and comparative advantage are all macroeconomic theories and/or concepts that play a large role in our current economy. The Federal Reserve has a large impact on the banking system and how they create money to have a positive output where the fiscal policy takes a slower rate to get started (Amadeo, 2011) but once executed can be extremely productive. As long as the US has an absolute advantage in some industries and can produce

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  • Fundamental Concepts of Industrial and Organizational Psychology

    Fundamental Concepts of Industrial and Organizational Psychology The “American Psychological Association” (2012) website explains industrial and organizational (I/O) psychology as a general practice specialty of professional psychology that focuses on scientifically based solutions toward human difficulties in work and other organizational settings. I/O psychology provides solutions by way of development and application of scientific principles to the workplace (Spector, 2008). This discipline

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  • Fundamental of Marketing

    Marketing I (Fundamentals) Week 2 Marketing Orientation Marketing Management Ø The analysis , Planning , Implementation and Control activities of management with regards to marketing. Marketing Management Philosophies 1. Production Concept Focus on production and distribution efficiencies Consumers will favour products that are available and affordable 2. Product concept Focus on product improvement Consumers favour better products 3. Selling concept Focus on more selling and promotion Consumers

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