If a market is characterized by a positive externality that is not the result of a technology spillover,

1. If Google company is not active in China, summarize why the company would not be in the Chinese market.

One of the specific problems socialist economies had was keeping up with capitalist countries technologically.

a. Can you think of any reason inherent in centrally planned economy that would make innovation difficult?

b. Can you think of any reason inherent in a capitalist economy that would foster innovation?

c. Joseph Schumprter, a famous Harvard economist of 1930s, predicted that as firms in capitalist societies grew in size, they would innovate less. Can you suggest what his argument might have been? d. Schumpeter’s prediction did not come true.

Modern capitalist economies have had enormous innovations, can you provide explanations as to why?

DIPLOMA Assignment
January-June LR 112 - Labour Relations
© BOU 2020 Page 2 of 3
SECTION A [25 MARKS]
Answer ALL questions in this section
Read the following and answer the questions that follow
REDUNDANCY
Redundancy is when an employee is no longer required to work, through no fault of their own.
Redundancies occur when employees are dismissed because their job no longer exists. Usually
this happens when the employer no longer requires that job to be done by anyone and hence that
job becomes redundant. Redundancy is caused by a mix of factors such as decline in level of
economic activity in the organization, technological changes, cost reduction initiatives,
downsizing, merging with another company, economic recession, and business relocation among
other many factors. The right to be collectively consulted applies when an employer proposes to
make 20 or more employees redundant at one establishment over a period of 90 days or less.
Employers should also consult individual employees. Case law has shown that dismissals have
been found to be unfair where a union has been consulted but not the individual. In the UK,
employees who are selected for redundancy must be given a notice period before their
employment ends. The statutory notice periods are:
 At least one week's notice if the employee has been employed between one month and
two years
 One weeks notice for each year of employment between two years and 12 years
 12 weeks notice for someone who has been employed for 12 or more years.
Fortunately, employers have a free hand in setting the selection criteria they want to use. As long
as the criteria are measurable and applied fairly, then a tribunal is unlikely to interfere. TEBOGO
INTERNATIONAL Botswana, a mining giant, for some of these reasons, is deciding to lay
redundant some of its employees. The company however is not aware of important factors for its
redundancy selection process.
Required:
Advise, with practical justifications, the most important factors that Tebogo International Pty Ltd
has to consider to ensure its redundancy selection criteria are objective and fair.

If the demand curve is Q(p) = 15 -p and the marginal cost is constant at 3, what is the profit maximizing monopoly price and output? What is the price elasticity at the monopoly price and output?

Compare the characteristics of personality theory below: a. Freudian theory b. Neo-Freudian Theory c. Theory Traits Illustrate how each theory is applied to understanding consumer behavior?

A person deposits​ $1,000 in an account every year for four years​ (Years 1 through​ 4), and withdraws half of the balance of the account at the end of Year 4. They put nothing in the account for two years​ (Years 5 and​ 6), then deposit​ $1,500 in the account every year for four more years​ (Years 7 through​ 10). They withdraw the entire balance of the account at the end of Year 10. The account earns​ 6% interest per year for the entire 10 years.

a. Choose the correct cash flow diagram from the​ person's point of view.

b. How much is withdrawn at the end of Year​ 4?

c. How much is withdrawn at the end of Year​ 10?

Consider a perfectly competitive local market for retail gasoline fuel in Ontario for which the demand side comprises 30,000 vehicles. Each gasoline firm in the market has an annual long-run total cost function of

{ ??(?) = ? + 0.62? + (?^2 / 125,000,000) ?? ? > 0

??(?) = 0 ?? ? = 0

where ? is fixed cost and ? is firm-level output in litres of gasoline retailed per year. Each firm owns a single facility (i.e. gas station), hires a manager and retains insurance, which are the only fixed factors of production. A gas station (land, building, siteworks and equipment) is a $2,000,000 capital investment that is financed by shareholders whom are able to earn an annual rate of return of 6.5% on investments elsewhere. A manager’s salary and benefits are $60,000 per year and the cost of insurance is $10,000 per year. The annual demand for gasoline in the market is given by ?(?) = 100,000,000 − 50,000,000? where ? is the price per litre. Let ? = ?? denote industry level output where ? is the number of firms operating in the market

The budget line is given by M = P1Y1 + P2Y2. Explain what each of the variables represents. Explain how the budget line constrains an individual’s choices. What is the economic question that an individual consumer must answer when it comes to making choices on what to purchase? Rephrase that question in terms of utility and budget constraints

*Describe the social and the culture roles that malls play in your community?

*Beside purchasing goods,why else do you think people visit malls?

*do you think malls become communities primary culture?

Indifference curves allow us to show how an individual consumer is willing to trade off one good for another without changing their overall level of satisfaction or well-being. There are three assumptions that are made about consumers that are central to the consumer choice theory. Explain what each of the assumption means in terms of consumer choice. For each one, provide an example of the assumption not holding in the real world

Using Concentric zone model, describe Jacksonville city in Florida.

Thank you.

A key reason that the systems paradigm works well is …

Select one:

a. Although we often prescribe boundaries to describe systems, there really are no boundaries; so we can add structure as needed to provide missing elements for the systems model

b. Systems are usually non-linear, which describes most behavior better than linear models

c. Systems models acknowledge there may be delays, which can affect the overall system behavior

d. Systems describe patterns of behavior rather than individual events

e. All of these are reasons the systems paradigm works

Bounded rationality refers to which idea below?

Select one:

a. People operating with perfect information will make perfect decisions for the good of the whole

b. Adam Smith’s concept of the “invisible hand” that says individuals acting in their own interest will move society effectively for society’s own economic benefit

c. Herman Daly’s concept of the “invisible foot” that says individuals acting rationally in the short-term will produce overall results that nobody wants

d. By satisficing we do enough to make the system sustainable

e. None of these

The principle of systems thinking illustrated best by the “Tragedy of the Commons" is self-organization.

Select one:

True

False

Escalation is a function of reinforcing loops. People at a party talking louder to overcome the rising volume of the crowd is an example of escalation.

Select one:

True

False

Increasing the capacity of intermediary stocks (buffers) to stabilize the system is one way to modify a system to produce more of a desired outcome.

Select one:

True

False

The murmuration video in the Weeks 4-5 lecture illustrates that the behavior of large systems emerges from the behavior of its subsystems.

Select one:

True

False

Banks often charge their customer's hidden or semi-hidden fees, such as late charges or over-draft fees. This is an example of which kind of systems trap?

Select one:

a. Competitive exclusion

b. Addiction

c. Rule beating

d. None of the above

e. All of the above, but primarily competitive exclusion

If you consider the emerging coronavirus epidemic in China, and the potential for global pandemic, which of these clichés best captures the systems nature of the problem?

Select one:

a. "A stitch in time saves nine."

b. "The rich get rich, and the poor get poorer."

c. "Don't put all your eggs in one basket."

d. "A spoonful of sugar makes the medicine go down."

e. None of the above