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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:
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.
Most firms find arbitration and mediation clauses to be superior to litigation, which tends to be more costly and take longer. Of course, the potential litigant faces the same issue, so most people think carefully before suing. Which one do you feel ..
What are the outputs of your work unit if you are a manager at a fast-food restaurant? What are the activities required to produce those outputs? What are the inputs?
ken is the vice president of global supply chain for happy-health a multi-national company that manufactures healthcare
Montegut Manufacturing produces a product for which the annual demand is 10,000 units. Production averages 100 units per day, while demand is 40 units per day. Holding costs are $2.00 per unit per year, and setup cost is $200.00. (c) How many order c..
Features Of Lean Product Development And Reasons For Failure To Adopt Activity Based Costing System
Explain the three elements of every negotiation. Why is Win/Win used more than Win/Lose in life. When is the efficiency of a negotiation determined? Give an example of in the world today of a good and a bad negotiator
What are four safeguards that the ERISA legislation specified to address the many obstacles employees faced with pension plan funding?
What particular elements of each organization's culture, processes, and management systems and styles work well to support innovation
Past history says that tomorrow's demand for lettuce averages 230 boxes with a standard deviation of 33 boxes. How many boxes of lettuce should the supermarket purchase tomorrow?
Samantha is well built and proud of it. She and her sales manager, Carl, are good friends. He dares her to pose topless on one of their top of the line boats, saying that he will keep the photographs private and that they will inspire his efforts to ..
If you believe that urine testing in some form might be acceptable, write down the outlines of sound testing program. Who should be tested? Employees? Job applicants? Should there be random testing? Should people in all job categories be tested?
Discuss the critical factors that you should consider when deciding whether to single source or multiple source. What factors might a buyer or buying team consider when evaluating the worthiness of potential suppliers?
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