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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.
What can be gained from limiting the mass customization of your product or service?
Explain why your business is located where it is. Discuss issues pertinent to its location - Requesting that the company should be a local company in oman
To increase the capacity of a process, Little’s Law tells us that we need to increase the average work-in-process inventory.
1 what is the connection between planning and controlling a business? do not define. what is the connection?2 what
Using the Six Sigma Approach (DMAIC), provide an example situation that utilizes the five-step plan, and determine three to four (3-4) challenges you may encounter using this approach. Provide specific examples to support your rationale.
Consider the operation plan and production process of a product from its idea stage to the final stage.
Research the topic of mobile computing and its business implications. Write a brief synthesis and summary of the two articles. How are the topics of the two articles related? What information was relevant and why?
A manufacturing plant makes parts of a machine with a productivity of 10 parts/hour. A quality inspector then inspects and tests the parts. The quality inspector can inspect 5 parts an hour. Show how you can optimize the schedule. Assume 5 day work w..
From your research, select five (5) of the 14 points and describe in detail how each point selected provides a benefit to a company that implements his system.
In considering your classmates' postings, discuss why these factors are important in shaping the SEO efforts.
Describe the differences between condominium, cooperative, and time-share ownership of property and discuss which form of ownership you would find preferable as an owner/investor;
Can increased sales be linked directly also / or indirectly to appraisal system. Elucidate how about some of other performance effects. Elucidate how would you change system.
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