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Basic Economic Concepts Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works. Because you have a good understanding of basic economics, he has asked you to explain several concepts that are essential to an understanding of how the economy works. Your son has asked you to explain the following concepts and ideas: Absolute and comparative advantage: Explain how these concepts describe the benefits and costs of international trade. "Invisible hand": What is it and how does it affect the decision-making process in our economic system? Circular flow diagram: Include the government sector in your explanation, a description of the roles that each participant plays in the economy, and how the different sectors interact in the markets. The Production Possibilities model: Provide an example and include a summary of what the model is illustrating and the economic implications for the economy. Microeconomics and macroeconomics: Explain the differences between the two and why economics is divided into these two subdivisions.
Do you think that rent controls should be implemented? Analyze the pros and cons of rent controls by considering the political, social and economic aspects of the matter.
Assume that you are about to deposit $1,000 in a passbook savings account that pays an annual interest of 4 percent.
ABC Corporation sells large industrial machines which have an inventory value of Php 1.5 million every. The Corporation expects to order 500 machines during the next calendar year.
Compare and contrast the essential differences between SLT and SLII. Are the differences significant. Why or why not
What is the current status of the housing stock in the county. To do this you will create a one-variable summary using StatTools and analyze the age of the recently sold homes, their average price sold, the number of bedrooms, bathrooms and number ..
sources must be cited in apa format. your response should be a minimum of one 1 single-spaced page to a maximum of two
1 how are projects programs and project portfolios related? provide an example of each to highlight similarities and
It has been stated that IT provides a competitive edge to organizations. Can you think of a company that uses IT strategically? Perform some research on such a company and discuss its case in this thread. Make sure to use this week's material in y..
What are the types of staffing experiences an organization will likely have if it does not engage in Human Ressource and staffing planning?
Discuss possible components to an expatriate career package which would make this move more attractive. Explain principles of non male efficiency, beneficence, autonomy also justice. Use examples for each.
A call center company has decided to close a call center in the US and move the operations to Honduras. The reason is that workers in Honduras will work in a call center atmosphere for less salary than a US college graduate. What steps would you take..
Assuming that the teams work independently, what is the probability that the task will not be completed in time?
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