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Question 1
Business Economics is a useful toolbox for understanding the business environment and making better decisions. Consider you are the managing director of a manufacturing company based in UK; describe the different aspects of the business that you should be looking at from an economics perspective in order to run the company efficiently. Consider both the microeconomics and macroeconomics perspectives.
Question 2
Focus on one microeconomics aspect and a macroeconomic one from those you have described in Question 1 and explain using economics theory how you would improve the running of your company. Use real world examples to back your answer (you may use examples from the press, books, journals, etc).
Question 3
Let's consider that your company is looking at expanding internationally by opening a new manufacturing facility in a non-EU country. Choose the country where you would be locating the new branch justifying your answer based on a macroeconomic analysis; you should review at least the following aspects:
a) Macroeconomic conditions of the country. b) Current economic policy (fiscal and monetary).
Flora's Flowers operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue.
Could you reduce the cost of producing 1,800 pots per day by adding a pottery machine to your production process and reducing the amount of labor. Explain why or why not.
Illustrate what determines whether or not economic efficiency is achieved. What determines whether or not economic efficiency is achieved.
Ronnie operates a lawn-care service. On each day, the cost of mowing the first lawn is $10, the cost of mowing the second Lawn is $12, and the cost of mowing the third lawn is $15.
The effectiveness of different kinds of incentive systems: moral, material, and coercive.
Should the objective of the firm be shareholder wealth-maximization. Illustrate what are the limitations of the wealth-maximization model of the firm. What are the alternative models of the firm.
If a person can either fish or chop coconuts for subsistence, what does production look like.
Explain why do you think maximising sustainable yield is often suggested as the appropriate goal of fishery.
What is difference between contraction and expansionary monetary policy. What are pros and cons of using expansionary and contraction monetary policy tools under following scenarios.
Find out the total revenue and marginal revenue functions for men and women.
Illustrate what marketplace structure is more beneficial for Wonks to operate in also will this be the same marketplace structure which will benefit consumers.
The City library in Amritsar has several private study rooms which are freely available to clients.
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