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Consider the following hypothetical story: Last spring, there was an outbreak of a nasty disease known as cyclosporiasis, which was eventually traced to Guatemalan raspberries. Together with some other incidents, this led to a demand for tougher controls on imported produce. A few weeks ago, the minister of trade and industry asked for legislation that would allow him to ban food imports from countries that do not follow adequate sanitary standards in agriculture. Intellectual opponents of globalization optimistically noted a double standard: We're willing to seize shipments of foreign berries to protect yuppie consumers (the sort of people who eat raspberries out of season) from inadequate foreign sanitary standards, but why aren't we willing to protect S.A. workers from inadequate foreign labor standards in China? Do you support the minister of trade and industry's request or do you agree to the double standard argument by the intellectual opponents of globalization?
How does economic theory contribute to managerial decisions
Statistical technique used to estimate economic variable Some statistical techniques are used to estimate economic variables of interest to a manager. In a number of cases, sta
Q. What is Data mining? Data mining: Data mining is the process of extracting patterns from data. Data mining is seen as an increasingly important tool by modern business to
The production function of the personal computers for DISK Company is given by Q = 10 KL where Q is the number of computers produced per day, K s the hours of machine time,
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
show how scarcity and opportunity cost are useful in decisionmaking
what are functions of management
A toy manufacturer makes output according to the production function: where n is the number of workers employed by the firm, O is a technological parameter and g the worker
The owner of a patent has a contract with a cooperation that gives it right to use the patent. The cooperation will pay the patent owner $2500 yearly for the next 5 years, $3000 fo
Income elasticity of demand The income elasticity of demand measures the degree of responsiveness of the quantity demanded of a product to changes in income. Its co-efficient
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