This document defines the ten principles of microeconomics and discusses how markets work. It explains that the ten principles are: people face tradeoffs, costs are what you give up to get something, people think at the margin, people respond to incentives, trade benefits all, markets are central to economic activity, governments can improve markets, standards of living depend on productivity, too much money printing causes inflation, and societies face short-run tradeoffs between inflation and unemployment. It then discusses how supply and demand curves work, defining equilibrium, and how price controls, taxes, and elasticity impact supply, demand, and equilibrium prices.
Ten Principles of Economics and Concept of Demand and Supply by Prof. K K Kri...BIMTECH Greater Noida
Ten Principles of Economics and Concept of Demand and Supply by Prof. K K Krishnan, Area Head – Insurance and Business Management (PGDM-IBM), BIMTECH, Greater Noida
Ten Principles of Economics and Concept of Demand and Supply by Prof. K K Kri...BIMTECH Greater Noida
Ten Principles of Economics and Concept of Demand and Supply by Prof. K K Krishnan, Area Head – Insurance and Business Management (PGDM-IBM), BIMTECH, Greater Noida
The link between income and demand is explored when we cover income elasticity of demand. The most important distinction to make in this section is between normal and inferior products. Please also be clear on the difference between a normal necessity and a normal luxury. The coefficient of income elasticity is important for businesses because it helps them to forecast, other factors remaining the same, how demand for their goods and services will be affected by changes in the real incomes of consumers as an economy moves through the various stages of a business cycle. Producers of inferior goods tend to do well when an economy is in recession or when real wages are falling!
The link between income and demand is explored when we cover income elasticity of demand. The most important distinction to make in this section is between normal and inferior products. Please also be clear on the difference between a normal necessity and a normal luxury. The coefficient of income elasticity is important for businesses because it helps them to forecast, other factors remaining the same, how demand for their goods and services will be affected by changes in the real incomes of consumers as an economy moves through the various stages of a business cycle. Producers of inferior goods tend to do well when an economy is in recession or when real wages are falling!
Information Systems for Decision-MakingAssignment 1 The CEO’s.docxjaggernaoma
Information Systems for Decision-Making
Assignment 1: The CEO’s Challenge
Due Week 3 and worth 150 points
You’ve just left an all-hands meeting at your company*. The CEO was very upset at the rise of shadow IT
projects – a major indicator that the company’s internal information system has failed to meet its needs.
Because the current information system is inadequate, inefficient, and outdated, the CEO is inviting
everyone in the organization to propose a new operational, decision support, or enterprise information
system to replace it. The executives have allocated $5 million to fund the most promising idea.
This is your chance to make a difference in the company (not to mention your own career). Write your
proposal as a memo that the entire C-suite will review. Include at least these points, in your own words, to
be persuasive:
1. Identify the main functions of your proposed information system and why they are important to the
business.
2. Describe what types of data your information system will hold and how data quality will be
ensured.
3. Explain how the old information system handles the functions you mentioned, the problems that
occur, and why your information system will handle things better.
4. Offer evidence of feasibility: Show that similar information systems have been built successfully
and that they save more money than they cost.
The executives are busy, so keep your memo to 1-4 pages and avoid any extraneous content.
*You may use a current or former employer, but do not disclose anything confidential. Or, you can pick
another organization if you are familiar with their internal (not customer-facing) information systems. You
can disguise the organization and populate it with famous names. Made-up companies are problematic
because of the amount of detail and realism they require.
Supply and Demand
How are scarce resources and products allocated within an economy?
· Who or what determines at what price consumers will be willing and able to pay for a product?
· Who or what determines at what price producers and suppliers will be willing and able to supply a product?
Markets. Markets bring together the consumers and producers and suppliers of goods and services, and it is in markets where the exchange process occurs. For brevity sake, producers will be used to represent suppliers too.
· Because the exchange process involves a market where consumers and producers come together to make the exchange, there is ultimately an agreed-upon price and quantity between the two parties.
· In order to more fully understand how this exchange process takes place and how the consumer and producer determine price and quantity, we are going to discuss specifically first the DEMAND process, and then the SUPPLY process.
Quantity demanded is a function of, or depends upon, price. There are certain variables which affect or change demand from one level to a lower or higher level. Price of related goods, population, preferences, expectations, taxes.
Running Header ECONOMICS PAPER 1Ngai Lam Oscar Wong.docxagnesdcarey33086
Running Header: ECONOMICS PAPER
1
Ngai Lam Oscar Wong
Eco 102
Professor William Albanos
2/14/2013
Question 1)
A)Positive Vs Normative Economic Analysis Statements
Economics as an academic discipline quite commonly uses idea from media analysts, business consultants as well as advisers on government policy. It is therefore very imperative for an individual to understand instances when economists make objective, evidence-based statements concerning the world works as well as when they are making value judgments on policies issues (Beggs). In this case, economist usually uses positive and normative economic in analysis statements. Positive economic statement can be defined as objective, descriptive and factual statement that can be tested amended or rejected by referring to the available evidence and that deal with objective explanation and the testing and rejection of theories. On the other hand, negative economic statement can be referred to as statements that are subjective, prescriptive and value-based statements rather than objective statements. Positive economic statement is therefore objective and fact based, while normative economic statement is subjective and value based. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. Normative economic statements are opinion based, so they cannot be proved or disproved.
In summaries, a positive statement is a statement about what is and that contains no indication of approval or disapproval. It is the study of the causal relationships that exist in the economy. Positive economics deals with objective explanation and the testing and rejection of theories. It just states what the relationship is. There are no value judgments involved. The statement “if taxes on tobacco is doubled, there will be substantial reduction in tobacco consumption” is a positive economic statement. It just states what the situation is. “If government subsidy to basic education is reduced, there will be higher drop-outs among children of poor families”, is another positive economic statement.
On the other hand, a normative statement expresses a judgment about whether a situation is desirable or undesirable. Value judgments play an integral part in the ranking of possible objectives and the choices to be made among them. "The world would be a better place if the moon were made of green cheese" is a normative statement because it expresses a judgment about what ought to be ,buy most statements are not easily categorized as purely positive or purely normative. For example: Unemployment is more harmful than inflation. Notice that there is no way of disproving this statement. If you disagree with it, you have no sure way of convincing someone who believes the statement that he is wrong. Normative statements are subjective statements rather than objective statements – i.e. they carry value judgments. For example, price of second hand cars are falling. How.
Diversity on Wall Street: Where are the women decision makers?Stacey Troup
a case study on the failure of Wall Street to vastly recognize women as viable solutions to portfolio management and other high-profile positions that are predominantly held by men.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
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@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. 1
Ten Principles of Microeconomics and How Markets Work
Stacey Troup
Principles of Microeconomics/ECO-365
July 18, 2016
Ashok Padhi
2. 2
Ten Principles of Microeconomics and How Markets Work
This Week 1 paper will first define the Ten Principles of Economics and then will discuss
how society manages its resources and benefits from economic interdependence, why the
demand curve slopes downward and the supply curve slopes upward, where the point of
equilibrium is and what it defines and finally, the impact of price controls, taxes and elasticity on
the changes in supply, demand and equilibrium prices.
The Ten Principles of Economics
We learn from this week’s reading that there are Ten Principles which include: “1)
People face tradeoffs; 2) the cost of something is the price you are willing to pay to obtain it; 3)
rational people think at the margin; 4) people respond to incentives; 5) trade is beneficial to
everyone; 6) markets are considered a valuable central place for economic activity; 7)
governments can, and sometimes do, improve market outcomes; 8) the standard of living of any
country is dependent on its ability to provide goods and services; 9) prices rise when
governments print too much money; and 10) society faces a short-run trade-off between inflation
and unemployment” (Mankiw, 2015)
How Society Manages its Resources
Economics is the study of how society manages its resources. Economists examine the
basics of the economy, inclusive of mitigating factors such as income, unemployment, and
average costs, to determine if an economy is efficient. An efficient economy is one in which
society reaps the greatest reward from its resources (Mankiw, 2015).
Demand Curve, Supply Curve & Equilibrium
The demand curve is a measurement which showcases the demand for an item based on the cost.
Alternatively, the supply curve is a unit of measure which highlights the shifts in a demand based
3. 3
on costs. Often, the supply curve is referenced regarding its elasticity comparative to the
demand (relative to cost).
The demand curve shifts downward as the costs rise and the supply curve shifts upward.
This represents a greater demand for the item sold at a higher price. However, when supply and
demand intersect at cohesive levels, this is known as the equilibrium (Heakal, N.D.). To expand,
this means that the levels required by the buyers and the levels supplied by the manufacturers (or
suppliers) are level. This equilibrium results in an always in stock, level pricing scale.
Price Controls, Taxes & Elasticity in Pricing
Price controls, also known as price restrictions set forth by the government. Price floors
consist of price ceilings and price floors. Price ceilings are the maximum price at which a good
or service can be sold. Alternatively, price floors are the lowest point (or minimum price) a good
or service can be sold (Vancouver Community College Learning Centre, 2013).
Price ceilings are only effective when they in effect below the equilibrium price. When
the ceiling is in force, the quantity demanded is greater than the amount supplied. A price floor
is only useful when they are set above the equilibrium price as they result in a demand being less
than the quantity supplied, creating an overstock or surplus of the item (Vancouver Community
College Learning Centre, 2013).
Taxes have an effect on the supply (and demand) curve. When a supply is perfectly
inelastic (vertical), changes in price have no effect on quantity supplied or demanded. A
perfectly horizontal curve will reduce the demand for a particular item to the point of near
extinction.
A demonstration of this can be illustrated viewing tourists from the United Kingdom to a
large metropolis. Here in New York, visitors purchase extra suitcases and visit our designer
clearance stores such as Century 21 where they buy mass quantities of items to take back with
4. 4
them. This bulk shopping trip is incentivized through the tax base here is lower than it is in the
U.K. Additionally, the exchange rate for their pound to our dollar (pre Brexit) is superior so
their value for every dollar spent is lower. These incentives drive the consumer to buy more,
even though items may be at a higher price than similar items lacking the designer distinction.
Conclusion
While several factors affect the supply and demand curves, consumers ultimately make
their decisions for purchases based on tastes and reputation of the quality of goods.
Manufacturers plan for big sales but cannot always count on the moods of the market.
Consider the Apple Watch. A recent report showed that large quantities of this device went
unsold despite research and speculation.
In the end, the better the price and lower the tax, the more likely an item is to sell.
Market conditions such as income of the buyer, taxes and price of the item ultimately drive
consumer spending. Market floors and ceilings are put in place to safeguard price controls from
the government on certain items as well.
5. 5
References
Heakal, R. (N.D.). Economic Basics: Supply & Demand. Retrieved from Investopedia:
http://www.investopedia.com/university/economics/economics3.asp?
ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
Mankiw, N. G. (2015). Principles of Microeconomics. Stamford, CT: Cengage Learning.
Retrieved from
https://phoenix.vitalsource.com/#/books/9781305892811/cfi/6/10!/4/44@0:0.00
N.A. (N.D.). What is Economic Equilibrium. Retrieved from Investopedia:
http://www.investopedia.com/terms/e/economic-equilibrium.asp
Vancouver Community College Learning Centre. (2013). Microeconomics: Price Controls &
Taxes. Retrieved from Vancouver Community College:
http://library.vcc.ca/learningcentre/pdf/vcclc/Econ-06-PriceControlsandTaxes.pdf
6. 5
References
Heakal, R. (N.D.). Economic Basics: Supply & Demand. Retrieved from Investopedia:
http://www.investopedia.com/university/economics/economics3.asp?
ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
Mankiw, N. G. (2015). Principles of Microeconomics. Stamford, CT: Cengage Learning.
Retrieved from
https://phoenix.vitalsource.com/#/books/9781305892811/cfi/6/10!/4/44@0:0.00
N.A. (N.D.). What is Economic Equilibrium. Retrieved from Investopedia:
http://www.investopedia.com/terms/e/economic-equilibrium.asp
Vancouver Community College Learning Centre. (2013). Microeconomics: Price Controls &
Taxes. Retrieved from Vancouver Community College:
http://library.vcc.ca/learningcentre/pdf/vcclc/Econ-06-PriceControlsandTaxes.pdf