This paper is to be submitted to Mr. Booker as an assignment. It essentially focuses on two questions: a) How does the free market deal with the fundamental question of micro-economics? b) What problems are posed by merit, demerit and public goods? Fundamental question of micro-economics So, first, what is economics? According to Paul A. Samuelson, economics is “the study of how societies use scarce […]

When we look back 20 or 30 years ago in Ireland, the impression it give us is difficult to get rid of poverty. Indeed, the image of “European beggar” has described the situation of Ireland in 20years ago vividly. Ireland was originally a British colony, and has Declare Independence in 1949. Traditionally, Ireland is an Agriculture-oriented and animal husbandry-oriented country with a limited resource, relatively […]

By 7000 BCE there was farming, which required permanent settlement. ————————————————- By 4500 BCE, people archaeologists call Ubaidians were living in towns near where the Tigris and Euphrates rivers emptied into the Persian Gulf. EKONOMIKS –( http://earlyworldhistory. blogspot. com/2012/01/sumer. html poltics) (http://www. sjsu. edu/faculty/watkins/sumer. htm-poltics) This was Mesopotamia (Greek for “between two rivers”). It was around 4000 BCE that a people called Sumerians moved into Mesopotamia. By […]

The economy has been something really important to society because of how much it’s affected our daily lives. Not to mention The Great Depression, which was something huge that happened in history. Most presidents had tried to fix the economy in whatever way but they couldn’t fix everything. A lot of Americans faced hardships due to a bad economy at different points in history. It […]

Mall Sullivan University Operations Strategy April 26, 2014 Abstract: Shoulders hospital has been the best service provider for treating hernias and been in demand since a long time. However, due to the limited capacity of 89 beds the hospital is not able to meet the market demand which is causing it to lose its market share and success. The main constraints mentioned in this case […]

How does a government budget deficit affect the economy? Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits during those time periods? A government’s budget deficit occurs when the amount of money going out exceeds the amount of money coming in and is defined as a shortfall of revenues under payment. For […]

One of the most important aspects of GM’s transformation is the motivating of its employees who have been through a very rough period of uncertainty, constant changes of management, major cutbacks and the press all over the world criticizing the bailout and forecasting further downsizing. The goal is to retain the best talent because those people are the ones who are going to leave first […]

Minimum point of the average variable cost is a. At the same level of output as the minimum average total cost b. At a smaller level of output than the minimum average total cost c. At a larger level of output than the minimum average total cost d. At the same level of output as the average fixed costs e. Same as minimum marginal cost […]

To fight against all this short comings that are caused by product line extension, Quelch and Kenny (1994) gives some checklist or guidelines for improving product line extension strategies. They involve allocating adequate resources to the most popular products, improving on the cost accounting, proper coordination of all the marketing efforts, generating and fostering a good environment in which product-line deletions are fully supported, a […]

One of the most significant decisions to be taken in business is how to enter a new overseas market because of commitments to be made; commitment in terms of dollars to be invested, personnel for managing the international organization, and determination to stay in the market long enough to realize a return on these investments, therefore selecting the most appropriate market entry mode is vital. […]