“A set of economic conditions should be available to ensure the success of any business.”

Explain the above statement, based on your study of the interrelations between different markets

The table below shows the possible production combinations of beer and sausage for Heapland

a(1). Suppose current productionis at point D. What is the opportunity cost of producing 10 more barrels of bourbon?Provide a clear explanation in the box below.

d(2). Suppose that the citizens of Heapland have yet to discover the joys of bourbon, so they only produce computers, point H. What happens to the opportunity cost of producing more and more bourbon? Why? Provide a clear explanation in the box below.

c(2). Which is the “best” production point? Why is that point “best”? If you do not think there is a “best” point, why? Provide a clear explanation in the box below.

“Some economies suffer from structural economic imbalances and weak economic performance. This is reflected in different forms of leakages, the most important ones are the outflow of spending reflected in the high level of imports and the use of savings in unproductive activities.”

1. Explain clearly why structural economic imbalances and weak economic performance can cause the above mentioned leakages.

2. What are the economic rules and steps that the country should follow in order to correct such structural imbalances?

1. How can you explain using the economic tools the shocking drop of the world oil prices?

2. What are your expectations concerning the effect of the drop in oil prices on the following:

• Oil exporting countries.
• Oil importing countries.
• The relative importance of non-oil substitutes.
• The environmental damage (degradation).

Post-Keynesian economists contend that the contemporary neoclassical synthesis is not only seriously flawed but also incompatible with Keynes's Ideas. Discuss. On what points do the new Keynesians disagree with the post-Keynesians?

a) The marginalists found that the classical theory of value was inadequate to explain the forces determining prices. Value does not come from the past but value comes from the future. Factors of production are not price-determining but price-determined. Discuss ( 30 marks)

b) The study of an economy is complex and difficult. How did Marshall address this problem? How did he reconcile the positions of the classical and marginal Wily schools?

What are the main barriers to trade, and what are some of the modern trends in reducing/expanding trade barriers? What is a regional market, and why are these developing? Why is understanding these issues important for developing an appropriate international strategy?

• What makes someone a successful entrepreneur? What characteristics are needed? In recent years who have been some of the most influential and profitable entrepreneurs?

With this being the overarching backdrop for our discussion in this module, you should also be looking to touch on the following:

• Do you think people take the time to consider implicit and explicit costs when starting a business?
• Do you believe produces take the time to actually calculate AVC, AFC and ATC? Or are these concepts just for textbooks and college professors?
• Do successful entrepreneurs look to enter markets that lean towards perfect competition? Why or why not?

What are the key issues discussed by Hernando de Soto, particularly related to why capitalism and free markets tend to work in the United States, but not in many other parts of the world. What would Hernando de Soto say should be done to improve the economic progress of less developed countries.

Common impacts of Covid 19 in Egypt, Niger,Lesotho, Mauritius, Tanzania

According to your book, the vast numbers of new immigrants, and the way many of them created distinctive communities, provoked fear and resentment among some native-born Americans. Because of this Old stock Americans encouraged or demand assimilation in countless ways. Can you expand and explain how was assimilation forced on the new immigrants?

The producer of a downloadable antivirus software program spends exactly ​$2 comma 650 comma 000 producing the first copy and incurring various costs required to make the software​ "user-friendly." The firm can produce and distribute additional copies at a​ per-unit cost of ​$1.00. If the company sold as many copies as consumers wished to purchase at a price of ​$1.00 per​ copy, it would sell 425 comma 000 copies. If the company maximizes its economic profits in the​ short-run, it sells 225 comma 000 copies at a price of ​$40. ​Finally, the company earns zero economic profits when it sells 275 comma 000 copies.

What are the​ firm's economic profits​ (or losses) if it sells 425 comma 000 copies of the antivirus software program at a ​$1.00 price per​ copy? ​$ -2,650,000 .

What are the maximum economic profits that the firm can earn in the short​ run? ​$ 6,125,000 . What is marginal revenue when the firm maximizes its​ short-run economic​ profits? ​$ 1.00 .

In the long​ run, after entry of competing​ firms, to the nearest​ dollar, and including the correct​ sign, what amount of economic profits will this firm​ earn? ​$ 0 0.

Discuss the effects of globalisation on markets and governments over the 20th century.

PRIVATE HOME OWNERSHIP IN CHINA

Private home ownership is increasing in China. For years the urban Chinese relied on overcrowded housing rented from the state and often waited a long time to have their own apartment. Now, with the increase in the market economy, the government is encouraging city-dwellers to buy their own homes by giving cheap loans and tax-relief. Home buying will help China’s economy. New home-owners need to spend money on furniture, appliances and decorating. GDP grew by 8% in 1999, of which the housing industry contributed about a fifth.

The housing changes will affect social and political issues as well as the economy. In the old system people had to live close to their work, and it was difficult to change jobs because no other housing was available. Single people had no hope of being allocated an apartment. Now anyone with money can buy a home and choose where they wish to live.

a) Explain what is meant by the market economy.

b) Explain the meaning of complements and substitutes, giving an example of each from the passage.                                                                                             

c) Identify four factors that might influence a worker’s choice of occupation.

d) How far do you think the change in the provision of housing is likely to affect a worker’s choice of occupation?                                                                       

e) Discuss whether the change in the provision of housing is likely to benefit everybody.