The importance of an economic model

Assignment Help Operation Management
Reference no: EM13994636

The importance of an economic model is that it allows us to:

build an accurate mathematical model of the economy.

build a complex and accurate model of the economy.

focus on the effects of only one change at a time.

avoid opportunity costs.

Reference no: EM13994636

Questions Cloud

Online trading services by developing : EBay Incorporation is one of the leading and extremely close to be the top best place for buyers and sellers to meet and be able to exchange practically anything. eBay Inc. provides online trading services by developing eBay Marketplace, an Intern..
Underlies the interaction of individual choices : Which of the following principles underlies the interaction of individual choices?
What role does the isp play in cloud computing : What role does the ISP play in cloud computing other than just being the service provider?
Find the voltage drop across each resistor : Find the voltage drop across each resistor. Find the power dissipated by each bulb and the total power dissipated by the circuit.
The importance of an economic model : The importance of an economic model is that it allows us to:
Comparative advantage in the production of one good : An economy is said to have a comparative advantage in the production of one good if it:
Write a one-page report of evolution of computers : Write a one-page report of evolution of computers. MS word document of 1 page, 1 inch border, single line space, font: size 11, black, Times New Roman
First prove the statement for the base case : Let G = (V, E) be a graph in which V = {a1, a2, · · · , an} is the set of its nodes and E ={(ai, aj )|1 ≤ i, j ≤ n}, is the set of its edges. Let di be the degree of each node ai. By induction, provethat the sum of all degrees in the graph is an even..
Against the government protecting domestic producers : Argue for and against the government protecting domestic producers through the use of antidumping duties. Identify at least two advantages and two disadvantages.

Reviews

Write a Review

Operation Management Questions & Answers

  What is the probability of processing bills within 4 hours

With the new system, what is the probability of processing the bills within 4 hours?

  What would you recommend to your purchasing team

What would you recommend to your purchasing team - provide analysis and rationale for your decision

  Illustrate what is maximum number of applications per hour

Illustrate what is maximum number of applications per hour which can be handled by present configuration method of process.

  Execution phase of the project life cycle

For this assignment, consider and discuss the degree to which the likelihood and impact of specific risks is anticipated to change during the Execution phase of the project life cycle

  Assembly of a model airplane has a learning curve

Assembly of a model airplane has a learning curve of 80 percent. The estimated time to assemble a second identical model airplane is 40 hours. Determine approximately how much time will be required for:

  Jobe smith has decided to build is manufacturing business

Jobe Smith has decided to build is manufacturing business (lawn mowers in the U.S.) around te production concept. If his approac is taken, what will be Mr. Smith's primary areas of concentration

  Howard electronics a small manufacture of electronic

howard electronics a small manufacture of electronic research equipment has approximately 6600 items in its inventory

  Relationship of hr department to rest of the organization

Explain the relationship of the human resources department to the rest of the organization, especially the "line" departments or patient care functions.

  Process of time management instead of scope management

Why do you think defining activities is a process of time management instead of scope management? How might activity resource estimating affect estimated activity duration?

  Substantial deficiencies in infrastructural resources

Companies often overlook the substantial deficiencies in infrastructural resources when they begin doing business in developing countries and often encounter significant challenges, which include:labor, transportation, role of technology, supplier..

  Discuss the shift of MNEs from exploitive posture

Discuss the shift of MNE’s from exploitive posture to a more transformative posture in the developing world. Why has this shift occurred? Reference the Nike case study as an example. How has it changed?

  Global corporate citizenship efforts of the original company

Satisfactorily analyzed two (2) global corporate citizenship efforts of the original company you selected, and satisfactorily assessed the extent to which these efforts are effective in accomplishing the company's goals.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd