Part II. Definitions/Matching. Please match terms under column A with their definitions in
column B
Solution
Macroeconomics: The branch of economics concerned with the overall performance of the
economy
Inputs: Commodities or services, such as land, labor, or capital that are used by firms in their
production process.
Opportunity cost: Measurement of cost based on the value of the next-best forgone alternative.
Efficiency: Using the economy’s resources as effectively as possible to satisfy people’s needs
and desires.
Positive economics: describes the facts and behavior of an economy.
Fallacy of composition: Assuming that what is true for part of a system is also true for the whole
system.
Scarcity: Commodities and resources that we value are limited in supply.
Outputs: Goods and services that results from the production process.
Laissez-faire: A market economy in which the government has almost no role.
Economic goods: Goods that we value are limited in supply.
Normative economics: Involves value judgements and ethical perspective about an economy.
Free goods: Commodities and resources that is available without limit.
Microeconomics: Branch of economics concerned with the behavior of individual entities such
as markets, firms, and households..
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Economy Revolution of Economy Sectors of the Economy Global Economy Underground Economy Socialism and Communism Factor of Production Function of Economy Characteristics of Economy
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Economy Revolution of Economy Sectors of the Economy Global Economy Underground Economy Socialism and Communism Factor of Production Function of Economy Characteristics of Economy
This PPT includes the basic concepts of economics. its meaning, scope and nature of economics, types of economic systems and basic problems of an economy.
Learn Free Flow Of Market Economy
A market economy is the free flow of products and services based on supply and demand in the market.
Adam Smith famously coined the concept of the "invisible hand." The invisible hand is the power to allocate resources to production based on supply and demand automatically. Under a market economy, we answer the following questions:
Wajid khan asks What do you produce? We need to have the goods that are in the highest demand. How should it be made? Companies can maximize their profits by improving the quality of their products. Improving quality allows companies to charge higher prices.
Who should you produce for? Businesses must have customers willing to pay for their goods and services. Environmental sustainability is only sometimes included in these conversations. Read how economic power and investment are helping create a more sustainable planet.
What Is A Market Economy?
A market economy is an open economy that allows the free flow of goods and services between producers and consumers based on supply and demand. Wajid khan Mp discusses In a market economy, economic decisions are regulated by the market itself, which constantly finds ways to restore equilibrium.
What do you mean? As industry prices rise due to increased consumer demand, the labor required to produce more output increases proportionately. In this way, producers supply products that meet consumer demand. On the other hand, competitiveness keeps prices at a moderate level, which increases consumption in the long run—an economic system based on supply and demand. The quantity of product produced is determined by supply and demand.
Type Of Economy
There are four types of economies: a traditional economy, a command economy, a market economy, and a mixed economy. A market economy is a system in which economic decisions are made based on supply and demand in the market. The market determines what goods and services are produced, how much is created, and the price of the goods.
In a free market economy, resources are owned by individuals, and individuals rather than governments determine the allocation of resources. No political economy in the world has been recognized as a 100% free market.
Market Theory
A market economy uses the forces of supply and demand to determine the price and quantity of goods and services needed in the market. Entrepreneurs produce products or provide services that they sell to other consumers. Buyers and sellers must agree on terms of trade based on consumer preferences for the price of goods and services.
Profit determines the allocation of resources to various business and production processes the entrepreneur wants to make by producing a product or service that is more valuable than others for the customer. Successful entrepreneurs are given income that can be reinvested in their future businesses.
Modern Market Economy
Most modern world economies are between a pure market economy and a thoroughly planne
Part 2 of 3Suppose the value of technology adoption to a given use.pdfakagencies2014
Part 2 of 3
Suppose the value of technology adoption to a given user is log(n) where n is the total number of
users who have already adopted the technology.
Suppose the cost of technology adoption per user is c. Assume there are N users in the market.
Assume c > 0.
What is socially optimal level of adoption? What would be social value at that level? [2]
Solution
One of the most persistent themes in the social sciences, history, and the humanities is the impact
of technology and technological change on all aspects of social life. Major changes in human life
have been associated with major technological changes, such as the.
Paid-in capital from treasury stock would appear on a balance sheet .pdfakagencies2014
Paid-in capital from treasury stock would appear on a balance sheet under the category A) capital
stock. B) treasury stock. C) additional paid-in capital. D) contra to owners\' equity.
Solution
C) additional paid-in capital
actually i am also giving the c option but it is due to typing mistake
my explanation is
Paid in capital (Paid-in capital or Contributed capital) refers to capital contributed to a
corporation by investors through purchase of stock from the corporation (primary market) (not
through purchase of stock in the open market from other stockholders (secondary market)). It
includes share capital (i.e. capital stock) as well (as additional paid-in capital.).
More Related Content
Similar to Part II. DefinitionsMatching. Please match terms under column A wit.pdf
This PPT includes the basic concepts of economics. its meaning, scope and nature of economics, types of economic systems and basic problems of an economy.
Learn Free Flow Of Market Economy
A market economy is the free flow of products and services based on supply and demand in the market.
Adam Smith famously coined the concept of the "invisible hand." The invisible hand is the power to allocate resources to production based on supply and demand automatically. Under a market economy, we answer the following questions:
Wajid khan asks What do you produce? We need to have the goods that are in the highest demand. How should it be made? Companies can maximize their profits by improving the quality of their products. Improving quality allows companies to charge higher prices.
Who should you produce for? Businesses must have customers willing to pay for their goods and services. Environmental sustainability is only sometimes included in these conversations. Read how economic power and investment are helping create a more sustainable planet.
What Is A Market Economy?
A market economy is an open economy that allows the free flow of goods and services between producers and consumers based on supply and demand. Wajid khan Mp discusses In a market economy, economic decisions are regulated by the market itself, which constantly finds ways to restore equilibrium.
What do you mean? As industry prices rise due to increased consumer demand, the labor required to produce more output increases proportionately. In this way, producers supply products that meet consumer demand. On the other hand, competitiveness keeps prices at a moderate level, which increases consumption in the long run—an economic system based on supply and demand. The quantity of product produced is determined by supply and demand.
Type Of Economy
There are four types of economies: a traditional economy, a command economy, a market economy, and a mixed economy. A market economy is a system in which economic decisions are made based on supply and demand in the market. The market determines what goods and services are produced, how much is created, and the price of the goods.
In a free market economy, resources are owned by individuals, and individuals rather than governments determine the allocation of resources. No political economy in the world has been recognized as a 100% free market.
Market Theory
A market economy uses the forces of supply and demand to determine the price and quantity of goods and services needed in the market. Entrepreneurs produce products or provide services that they sell to other consumers. Buyers and sellers must agree on terms of trade based on consumer preferences for the price of goods and services.
Profit determines the allocation of resources to various business and production processes the entrepreneur wants to make by producing a product or service that is more valuable than others for the customer. Successful entrepreneurs are given income that can be reinvested in their future businesses.
Modern Market Economy
Most modern world economies are between a pure market economy and a thoroughly planne
Part 2 of 3Suppose the value of technology adoption to a given use.pdfakagencies2014
Part 2 of 3
Suppose the value of technology adoption to a given user is log(n) where n is the total number of
users who have already adopted the technology.
Suppose the cost of technology adoption per user is c. Assume there are N users in the market.
Assume c > 0.
What is socially optimal level of adoption? What would be social value at that level? [2]
Solution
One of the most persistent themes in the social sciences, history, and the humanities is the impact
of technology and technological change on all aspects of social life. Major changes in human life
have been associated with major technological changes, such as the.
Paid-in capital from treasury stock would appear on a balance sheet .pdfakagencies2014
Paid-in capital from treasury stock would appear on a balance sheet under the category A) capital
stock. B) treasury stock. C) additional paid-in capital. D) contra to owners\' equity.
Solution
C) additional paid-in capital
actually i am also giving the c option but it is due to typing mistake
my explanation is
Paid in capital (Paid-in capital or Contributed capital) refers to capital contributed to a
corporation by investors through purchase of stock from the corporation (primary market) (not
through purchase of stock in the open market from other stockholders (secondary market)). It
includes share capital (i.e. capital stock) as well (as additional paid-in capital.).
Pangbourne Whitchurch has preferred stock outstanding. The stock pay.pdfakagencies2014
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $12 per
share, and sells for $75. What is the percentage cost of the preferred stock? (Enter your answer
as a whole percent.)
Cost of preferred stock %
Solution
Cost of Preferred Stock = D / P
D = Dividend per share
P = Market/isssue Price per share
Kp (Cost of preferred Stock ) = 12 / 75 = 16%.
Perfect and imperfect multicollinearitya) Define perfect multicol.pdfakagencies2014
Perfect and imperfect multicollinearity:
a) Define perfect multicollinearity either mathematically or explain it intuitively.
b) Explain how imperfect multicollinearity differs from perfect multicollinearity (you may, but
don
Solution
Multicollinearity is a high degree of correlation (linear dependency) among several independent
variables. It commonly occurs when a large number of independent variables are incorporated in
a regression model. It is because some of them may measure the same concepts or phenomena.
Only existence of multicollinearity is not a violation of the OLS assumption. However, a perfect
multicollinearity violates the assumption that X matrix is full ranked, making OLS impossible.
When a model is not full ranked, that is, the inverse of X cannot be defined, there can be an
infinite number of least squares solutions.
Symptoms of mulitcollinearity may be observed in situations: (1) small changes in the data
produce wide swings in the parameter estimates; (2) coefficients may have very high standard
errors and low significance levels even though they are jointly significant and the 2 R for the
regression is quite high; (3) coefficients may have the.
Pepsi uses advertising to create the impression that Pepsi is superi.pdfakagencies2014
Pepsi uses advertising to create the impression that Pepsi is superior to any other soft drink.
Pepsi is attempting to:
A) sell less Pepsi so they can raise the price of Pepsi.
B) differentiate Pepsi from other types of soft drinks.
C) convince consumers that Pepsi is identical to other soft drinks.
D) lower the marginal cost of producing for Pepsi.
Solution
B) differentiate Pepsi from other types of soft drinks..
People with an external locus of control are a.more achievement o.pdfakagencies2014
People with an external locus of control are:
a.more achievement oriented.
b.better able to handle complex information and problem solving.
c.more independent.
d.easier to lead.
Solution
d) are easier to lead.
People with an external locus of control usually attribute their success or failure with outside
influences. Thus, they are easier to lead as they rely more on outside resources..
People with O-negative blood are universal donors. That is, any pati.pdfakagencies2014
People with O-negative blood are universal donors. That is, any patient can recieve tansfusion of
O-negative blood. Only 7.2% of the American population have O-negative blood. If 10 people
appear at random to give blood, what is the probablity that at least 1 of them is universal donor?
Solution
10C0 * .072^ 0 * .928^10 = 0.473674235 This is the probability that NONE of
them are the universal donor. It turns out, the event we are interested in, is just the compliment.
Then 1 - 0.473674235 = 0.526325765 Hence, 53% probability..
People enter a building at an average rate of 7 people per 15 minute.pdfakagencies2014
People enter a building at an average rate of 7 people per 15 minutes. (Their arrivals follow the
Poisson distribution) Suppose someone just arrived. What is the chance that at least 3 minutes
will elapse before the next person shows up?
Solution
c=7/15
let x = no. of persons per minute
P(x>3)=1- P(x<30
so it is 1-(P(1)+P(2)+P(3))
P(x=1)=(7/15*e^-(7/15))/1
P(x=2)=((7/15)^2*e^-(7/15))/2
P(x=3)=((7/15)^3*e^-(7/15))/6
answer is 1-0.29-0.068-0.0106=0.6314.
Pages 6 and 27 are on the same (double) sheet of a newspaper. What a.pdfakagencies2014
Pages 6 and 27 are on the same (double) sheet of a newspaper. What are the page numbers on the
opposite side of the sheet? How many pages are there..
in the newspaper altogether?
Solution
The third sheet bears 6 and 27.The backside of the sheet contains 5 and 28.
The second sheet has 3 , 4 pages and 29 ,30 pages.
The first sheet takes 1,2 and 31,32.
The number of pages : 32..
pCan you get a mixed number for a answer pSolution .pdfakagencies2014
Can you get a mixed number for a answer ?
Solution
For a probability problem you should not get a mixed or improper fraction.
Remember the probability of something is always a fraction that is less than 1 but greater than 0
Example: Probability when tossing a heads on a coin is 1/2.
Paytons indoor soccer team consists of 10 girls, but only 5 can be.pdfakagencies2014
Payton\'s indoor soccer team consists of 10 girls, but only 5 can be on the field at any given time
(four fielders and a goalie). How many starting lineups are possible if Payton or Jordyn must
play goalie?
Solution
total starting lineups = 2! * (9!)^4 =.
Payroll subjectHoyico Company has five employees, each of whom ea.pdfakagencies2014
Payroll subject:
Hoyico Company has five employees, each of whom earn $1,600 per month and are paid on the
last day of each month. All five have been employed continuously at this amount since January
1. On June 1, the following accounts and ballances exist in the General Ledger:
FICA-Social Security taxes payable; $992 (both Employee and Employer match)
FICA-Medicare taxes payable $232 (both Employee and Employer match)
Employee Federal Income tax payable; $1,050 (liability for May only)
Federal Unemployment taxes payable; $66 (liability for April and May)
State Unemployment taxes payable; $440 (liability for April and May)
*During June and July the company had the following payroll transactions:
June 25: Issued check payable to America Bank, a federal depository bank authorized to accept
employer\'s payments of FICA taxes and employee income tax withholdings. The $2,274 check
is in payment of the May FICA and employee income taxes (think about the required journal
entry, with all the extra info provided).
June 30: Recorded the Journal entry for the June salaries payable. Record the cash payment of
the June payroll (the company issued checks payable to each employee in payment of the June
payroll.
The payroll register shows the following summary totals for the June pay period:
SALARIES:
Office Salaries: $3,800
Shop Salaries: $4,200
Gross Pay $8,000
FICA taxes: $496 Social security
$116 Medicare
Federal Income taxes: $1,050
Net Pay: $6,338
June 30: Recorded the employer\'s payroll taxes resulting from the June payroll. The company
has a merit rating that reduces its state unemployment tax rate to 4.0% of the first $7,000 paid to
each employee. The Federal rate is 0.6%.
July 15: Issued check payable to America Bank in payment of the June FICA and employee
incoem taxes.
July 15: Issued check payable to State Tax Commision for the April, May and June state
unemployment taxes. Mailed the check and the second-quarter tax return to the State
Commisions.
July 31: Issued check payable to America Bank in payment of the employer\'s FUTA taxes for
the first quarter of the year.
Mailed Form 941 to the IRS, reporting the FICA taxes and the employee\'s income taxes and
employees\' federal income tax withholdings for the second quarter. (NOT SURE if journal entry
is needed to record this Forms, and/or required to transfer any funds with this report?).
REQUIRED: Prepare journal entries to record the transactions and events for both June and July.
Please make sure to post your calculations and comments on how to get there since it\'s really
important for me to understand this concepts. I really appreciate your help.
Solution
Accounting Entries
Date
Account Details and Explanation
Debit
Credit
June 25
FICA- Social Security Tax Payable
992
FICA- Medicare Tax Payable
232
Employee Federal Income Tax Payable
1050
Cash
2,274
To record the payment of FICA taxes for May and Employee federal income tax for May.
June 30
Office Salaries
3800
Shop Salaries
4200
FICA- Soc.
Paul Sablic is the supervisor of the purchasing department for Pine .pdfakagencies2014
Paul Sablic is the supervisor of the purchasing department for Pine Village Community Medical
Center ( CMC). ( See the Values and Beliefs Statement in Figure 1.8.) Paul had an opening in his
department. The human resources de-partment first used an internal recruiting method through
which current employees were asked to identify potential candidates from their social and
professional networks. 1 In addition, HR posted the position in several professional pub-lications
and in area newspapers and message boards. The goal was to attract and hire the better person
available.
HR prescreened all applicants ( more than 140 persons applied for the position) and reduced the
list to eight. Sablic and the HR personal had previously conducted a job and task analysis, and
identified the specific types of SKAs found in employees who perform successfully in that
position. Sample tests were administered in which applicants were asked to perform real job- like
activities. A series of work sample tests were developed and given to those employees currently
holding the position. The results affirmed that the tests measured the factors im-portant to the
position. Each of the final applicants was also given a broad personality inventory that included
integrity questions designed to weed out applicants likely to lie, steal, cheat, or defraud the
medical center. 2 Each applicant for the vacant position received written guidelines explaining
CMC
Solution
Hello Pal,
First of all a very nice as well as intersting question from your side.
So now straight to the question, as asked above with all the information available from your side
and from mine, it is very much true and practical to do so that to sooner than later. Fuller is a
potential candidate for this post. But, there must be something that Paul considered before
rejecting Fuller and taking the other, Helen Hoczyk, on board for this job.
To reinforce his claims, Fuller described several technological adaptive aids he used in his work
and contended that he had done well on the work sample tests. He also showed Holbrook papers
that documented the long hours he had put in at his previous job. He also shared several
recommendation letters in which former employers spoke highly of his abilities. Holbrook
listened patiently, making notes as Fuller talked. She was startled by Fuller.
Patients arrive at the emergency room of Costa Valley Hosipital at a.pdfakagencies2014
Patients arrive at the emergency room of Costa Valley Hosipital at an average of 5 per day. The
demand for emergency room treatment at Costa Valley follows a Poisson distribution.
(a) Using a Poisson appendix, compute the probability of exactly 0,1,2,3,4 and 5 arrivals per day.
(b) What is the sum of these probabilities, and why is the number less than 1?
Please show work. Thank you..
Solution
Mean value for the poisson\'s distribution = 5
So, the probability for various numbers is as follows:
P(X= 0) = 50e-5 / 0! = e-5 = 0.0067
P(X = 1) = 51e-5/ 1! = 5e-5 = 0.0336
P(X = 2) = 52e-5/2! = 25e-5/2 = 0.0842
P(X = 3) = 53e-5/3! = 125e-5/6 = 0.1403
P(X=4) = 54e-5/4! = 625e-5/24 = 0.1754
P(X=5) = 55e-5/5! = 3125e-5/120 =0.1754
Sum of al these probabilities = 0.6157 which is less than one because X can take even more
values like 6,7,8,9, etc. and so on each having a significant probability value.
Hope this helps. Please Rate it ASAP. Thanks..
Partner Bonuses, Statement of Partners EquityThe following addit.pdfakagencies2014
Partner Bonuses, Statement of Partners\' Equity
The following additional partner transactions took place during the year:
1. In early January, Randy Campbell is admitted to the partnership by contributing $75,000 cash
for a 20% interest.
2. Net income of $150,000 was earned in 2014. In addition, Dennis Overton received a salary
allowance of $40,000 for the year. The three partners agree to an income-sharing ratio equal to
their capital balances after admitting Campbell.
3. The partners\' withdrawals are equal to half of the increase in their capital balances from salary
allowance and income.
Solution
solution:-
Capital ratio:-180000:120000:75000 i.e :12:8:5ParticularDennisBenRandyOpening
Capital$180,000$120,000$75,000+Salary$40,00000+income sharing (150,000-
40,000)$52800$35200$22000-Drawings$46400$17600$11000Closing
capital$226,400$137600$86000.
Part of an Excel Summary Output relating X (independent Variable) an.pdfakagencies2014
Part of an Excel Summary Output relating X (independent Variable) and Y (dependent variable)
is shown below. Fill in all the blanks marked with %u201C?%u201D.
Summary Output
Regression Statistics
Multiple R
0.1347
R Square
?
Adjusted R Square
?
Standard Error
3.3838
Observations
?
ANOVA
df
SS
MS
F
Significance F
Regression
?
2.7500
?
?
0.632246859
Residual
?
?
11.45
Total
14
?
Coefficients
Standard Error
t Stat
P-value
Intercept
8.6
2.2197
?
0.0019
x
0.25
0.5101
?
0.6322
Summary Output
Regression Statistics
Multiple R
0.1347
R Square
?
Adjusted R Square
?
Standard Error
3.3838
Observations
?
ANOVA
df
SS
MS
F
Significance F
Regression
?
2.7500
?
?
0.632246859
Residual
?
?
11.45
Total
14
?
Coefficients
Standard Error
t Stat
P-value
Intercept
8.6
2.2197
?
0.0019
x
0.25
0.5101
?
0.6322
Solution
r square=r multiple*2=0.1347^2=0.018144
r adjusted squre=MSREGRESSIOM/MSTOTAL=(2.75/(151.6/14))=0.2539
OBSERVATIONS=DFTOTAL+1=14+1=15
DF of regression=1
df of RESIDUAL=14-1=13
SS residual=MS residual*df=13*11.45=148.85
SS total= SS RESIDUAL+ SS regression=151.6
MS regression= SS REGRESSION/DF=2.75
F=MS regression/MS residual=0.24017
T stat=coefficient/standard error
t stat intercept=8.6/2.2197=3.874397
t stat x=0.25/0.5101=0.49009998.
PART I The shape of the distribution of sample means is always tha.pdfakagencies2014
PART I
The shape of the distribution of sample means is always that of an approximately normal
distribution. T-F, Why or why not?
Solution
False: The shape of the distribution of sample means can´t be approximated by a
normal distribution wnen the sample size is small and the distribution of the population is not
similar to a normal distribution.
Part AWhat is the ratio of the intensities of an earthquake P wave.pdfakagencies2014
Part A
What is the ratio of the intensities of an earthquake P wave passing through the Earth and
detected at two points 13km and 42km from the source?
Express your answer using two significant figures.
Part B
What is the ratio of the amplitudes?
Express your answer using two significant figures.
Solution
we know that, intensity I = P/A = P/4?r2
from this equation if power (P) is same then
intensity of two sound waves ratio can be write as
I1/I2 =r22/r12 .................... (1)
A)
I27/I13 = (13 km)2/(42 k)2
= 0.0958
B)
intesity (I) is proportional to square of the amplitude ,
i.e. , I ? A2
I1/I2 = (A1/A2)2
(A1/A2) = (I1/I2)1/2
therefore ,
A45 /A13 = (I45/I13)1/2
= (0.0958)1/2
= 0.31.
PART B Record the journal entry to show the effect of the accrual t.pdfakagencies2014
PART B: Record the journal entry to show the effect of the accrual that should have been made
as of March 31, 2013. Journal Entry Worksheet Record the cash collection for season ticket sales
made in advance. Event General Journal DebitCredit Enter debits before credits done clear entry
record entry
Solution
Part A Event Particulars Debit $ Credit $ Cash 178,860 Unearned revenue
178,860 (To record advance received) 1 Unearned revenue 29,810
Revenue account 29,810 (To record entry to recognise revenue) Part B Payroll
tax expense XXX FICA Taxes payable XXX State unemployment taxes payable XXX
Federal unemployment taxes payable XXX.
pAdjusted Rsup2  supdoes not necessarily increase a.pdfakagencies2014
Adjusted R2 does not necessarily increase as additional regressors are introduced into the
model.
True/False?
Solution
True. Because the adjusted R2 has a built-in penalty for the number of regressors, it can go down
when irrelevant variables are added to the model..
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
Normal Labour/ Stages of Labour/ Mechanism of Labour
Part II. DefinitionsMatching. Please match terms under column A wit.pdf
1. Part II. Definitions/Matching. Please match terms under column A with their definitions in
column B
Solution
Macroeconomics: The branch of economics concerned with the overall performance of the
economy
Inputs: Commodities or services, such as land, labor, or capital that are used by firms in their
production process.
Opportunity cost: Measurement of cost based on the value of the next-best forgone alternative.
Efficiency: Using the economy’s resources as effectively as possible to satisfy people’s needs
and desires.
Positive economics: describes the facts and behavior of an economy.
Fallacy of composition: Assuming that what is true for part of a system is also true for the whole
system.
Scarcity: Commodities and resources that we value are limited in supply.
Outputs: Goods and services that results from the production process.
Laissez-faire: A market economy in which the government has almost no role.
Economic goods: Goods that we value are limited in supply.
Normative economics: Involves value judgements and ethical perspective about an economy.
Free goods: Commodities and resources that is available without limit.
Microeconomics: Branch of economics concerned with the behavior of individual entities such
as markets, firms, and households.
