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1. Two partners who owns IT Business Solutions, a company supplying specialist software, operate out of an office in Fourways, Johannesburg but have discovered a vacant office building close to Sandton City. One of the partners favours moving to the new location because she believes the additional business gained by moving will exceed the higher rent plus the cost of making the move. The other partner disagree. She argues: " We have already paid for office stationary, business cards and signage that cannot be moved or sold. We have spent so much on our current office that we can't afford to waste this money by moving now." The partners ask you for your advice. Which partner is correct? How would you explain your reasons to them?
Developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems.
Kenya is a state that is a part of the African Nation. Talk about the exchange rates and their money supply. Also write about whether or not Kenya has a promising future.
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
Assume the Fed decides to buy $1 billion in Treasury bonds from the public. Suppose that the reserve requirement is 10%. What takes place to the interest rate and money supply?
How do the concepts of accounting profit and economic profit differ? Why is economic profit smaller than accounting profit? What are the three basic sources of the economic profit? Classify each of following according to those sources:
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Assume you're in charge of the toll bridge that essentially cost free. The demand for bridge crossings Q is given by P = 60 - 2Q. Draw a demand curve for bridge crossings
Briefly list and elaborate on the factors that will be affecting the demand for the following products in the next several years. Do you think these factors will cause the demand to increase or decrease?
Select an organization you work for or are familiar with. Could the organization you have chosen lower prices to increase revenue?
Describe how the market for Alaskan king crab will be affected if, at the same time that medical reports confirm that suspected health benefits from consumption of Alaskan king crab meat, wages are increased for trawler men
Mention two economic choices you had to make with in last week. Alfred Marshall said in 1890s, "economics is the study of man in ordinary business of life." You must examine one or two of these choices in terms of alternatives you gave up.
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