...SUPPLY AND DEMAND WHAT IS THIS CHAPTER ALL ABOUT? This chapter introduces market behavior and the intricacies of the market mechanism. It is helpful to continue to answer the basic questions of WHAT, HOW, and FOR WHOM and to briefly outline how the market system answers them. The chapter focuses on the allocative and distributive functions of the price system. The section on disequilibrium pricing -- price ceilings and floors -- provides an opportunity to illustrate the upside and downside of interference with market pricing mechanisms. The opening illustration of a kidney sale on eBay demonstrates the power and potential problems of markets. This introduction sets the general direction of this chapter, which is to look at how the market system answers the following questions: 1. What determines the price of a good or a service? 2. How does the price of a product affect its production and consumption? 3. Why do prices and production levels often change? NEW TO THIS EDITION • New headline on campus drinking • New headline on demand shifts for natural gas • One new question for discussion • One new problem LECTURE LAUNCHERS Where should you start? Supply and Demand analysis is the foundation of much of the analysis the student will perform during the semester. Therefore, it is important that students get a good start with this material. 1. Begin your discussion by identifying...
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...1 Overview of How to Write an Essay Writing essays is a major element of your education at the university level. Effective writing gives you the ability to express your ideas, theories, arguments, and projects clearly. The skills you acquire at the university level through writing essays will be aimed at practical business applications that you will be able to use in the workplace. The following information provides a succinct overview of the elements you need to know to begin writing an essay. It will help you on your writing journey. Types of Essays Narrative A narrative essay is a story told by a narrator. Generally, a narrative discusses the personal experience of the author (the first person point of view), but it can also be written about things that happen to others (third person point of view). A narrative typically involves characters, a setting, specific and vivid details, and a series of events that can include current incidents, flashbacks, or dialogue. Cause and Effect A cause and effect essay explores why events, actions, or conditions occur (cause) and examines the results of those events, actions, or conditions (effect). For example, a cause could be purchasing a new expensive home. The effect might be fewer family vacations, more time spent on upkeep, or less time with family because of extra work hours to pay for the home. Comparison and Contrast A comparison and contrast essay shows the relationship between two or more elements. The items can be compared...
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...1 Overview of How to Write an Essay Writing essays is a major element of your education at the university level. Effective writing gives you the ability to express your ideas, theories, arguments, and projects clearly. The skills you acquire at the university level through writing essays will be aimed at practical business applications that you will be able to use in the workplace. The following information provides a succinct overview of the elements you need to know to begin writing an essay. It will help you on your writing journey. Types of Essays Narrative A narrative essay is a story told by a narrator. Generally, a narrative discusses the personal experience of the author (the first person point of view), but it can also be written about things that happen to others (third person point of view). A narrative typically involves characters, a setting, specific and vivid details, and a series of events that can include current incidents, flashbacks, or dialogue. Cause and Effect A cause and effect essay explores why events, actions, or conditions occur (cause) and examines the results of those events, actions, or conditions (effect). For example, a cause could be purchasing a new expensive home. The effect might be fewer family vacations, more time spent on upkeep, or less time with family because of extra work hours to pay for the home. Comparison and Contrast A comparison and contrast essay shows the relationship between two or more elements. The items can be compared...
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...analyzing the situation at hand, which is what research is all about. 2. To help students differentiate between research‐based problem solving and “going by gut‐feeling”, the latter of which might sometimes help to solve problems in the short term, but might lead to systemic long‐term adverse consequences. 3. To create an appreciation in students that research is useful for solving problems in ALL areas of business. 4. To help students develop an appreciation of the role of the manager in facilitating the researcher or the consultant’s work. 5. To stress the importance of skill development in research, as opposed to mere gathering of knowledge about research. 6. To emphasize that research and knowledge about research enhance managerial effectiveness. 7. To sensitize students to ethical conduct in business research. Discussion Questions 1. Why should a manager know about research when the job entails managing people, products, events, environments and the like? The manager, while managing people, products, events, and environments, will invariably face problems, big and small, and will have to seek ways to find long lasting, effective solutions. This can be achieved only through knowledge of research even if consultants are engaged to solve problems. 2. For what specific purpose is Basic research important? © 2009 John Wiley & Sons Ltd. www.wileyeurope.com/college/sekaran 3 Basic research is important for generating and building upon the existing ...
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...their ideas/thoughts for better formulation. Some often say, “I didn’t think of that” or “That’s a different slant.” 2. Promotes greater student-faculty and student-student interaction. Students assist each other in understanding material/content. This may even help students broaden their perspectives on issues or problems. Professors have an opportunity to move from group to group, listen and if appropriate add comments. For some students this is the only personalization with a professor that ever occurs. Professors may answer questions that might never be asked without the closer interaction. Problems or misunderstandings can quickly and quietly be handled. 3. Increases student retention and limits anxiety. Students are not overloaded with information. Students actually get time to think about, to talk about, and process information. Improves interaction and “talk” (Vygotskian Constructivism) and provides opportunities for students to think about and process the information. Time for “talking” and/or “writing” is needed to help students make sense of what they hear before attempting to “take in” even more information. 4. Permits opportunities to connect the content to real life. Students are often hesitant to speak up and offer opinions, especially in very large classes. Students can provide real life examples of the content being...
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...Instructor’s Manual to accompany Economics Sixteenth Edition Campbell R. McConnell University of Nebraska Stanley L. Brue Pacific Lutheran University Prepared by Randy Grant Linfield College Instructor’s Manual to accompany ECONOMICS Campbell R. McConnell and Stanley L. Brue Published by McGraw-Hill, an imprint of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright 2005 by The McGraw-Hill Companies, Inc. All rights reserved. The contents, or parts thereof, may be reproduced in print form solely for classroom use with ECONOMICS provided such reproductions bear copyright notice, but may not be reproduced in any other form or for any other purpose without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. 1 2 3 4 5 6 7 8 9 0 Text printer code/Cover printer code 0 9 8 7 6 5 4 ISBN 0-07-288477-0 www.mhhe.com The Nature and Method of Economics CHAPTER ONE THE NATURE AND METHOD OF ECONOMICS CHAPTER OVERVIEW This chapter begins with a discussion of the meaning and importance of economics. In this first chapter, however, we will not plunge into problems and issues; instead we consider some important preliminaries. We first look at the economic perspective—how economists think about problems. Next, we state some of the benefits of studying economics. Then, we examine the specific...
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... Dear Educator, Thank you for your interest in the change, growth and empowerment of Native Youth Education. This curriculum was developed specifically for educators in the state of Maine’s public high schools who wish to use this guide as a tool to improve Native Youth Education. NEG (Native Education Guide) provides lesson ideas and examples that support current lesson structures as well as implementing a culturally appropriate material for the Native Student. While many Native Education curriculums exist, NEG is designed to adapt to the block scheduling of the Public High School in Maine. This curriculum recognizes the appropriate education material needed for its intended audience, which focuses on the tribes of Maine whose youth attend Public High School. NEG aims to provide its learners with a set of educational experiences that encourages empowerment and positive Native identity through community education. Native Education is the study of the human, tribal, environmental, historical and social experience of the Natives of Maine. Native Education is very complex with a lot of variables such as time, space, place and the students; NEG therefore focuses on a number of messages: - Community Building - Seventh Generation Sustainability, Economics and Ecology - School Education Policies and Institutions (Boarding Schools to Current Education Models) - Colonization and the “White Expansion” - Cultural Appropriation - Native Ritual, Ceremonies, Practices...
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...determine whether a more recent Course Description PDF is available. The College Board The College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of more than 5,900 of the world’s leading educational institutions and is dedicated to promoting excellence and equity in education. Each year, the College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success — including the SAT® and the Advanced Placement Program®. The organization also serves the education community through research and advocacy on behalf of students, educators, and schools. For further information, visit www.collegeboard.org. AP Equity and Access Policy The College Board strongly encourages educators to make equitable access a guiding principle for their AP programs by giving all willing and academically prepared students the opportunity to participate in AP. We encourage the elimination of barriers that restrict access to AP for students from ethnic, racial, and socioeconomic groups that have been traditionally underserved. Schools should make every effort to ensure their AP classes reflect the diversity of their student population. The College Board also believes that all students should have access to academically...
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...Working Group 2 A. The Current Situation of Formal Education in the Philippines B. Technical/Vocational Education and Training in Laguna Advisor Yutaka Otsuka, Professor Members of Working Group 2-A Masamichi Toyooka Yoshiko Ogura Mia Kim Yumi Kondo Tsunetaka Tsuchiya ** Members of Working Group 2-B Patrícia Moutinho Brito Riai Yamashita *Group Leader **Sub Group Leader Gabriele Castaldi Koichi Motomura* 27 A. The Current Situation of Formal Education in the Philippines 0. Introduction Compared with other countries, the literacy rate in the Philippines is quite high . Moreover enrolment rate is 99. 9% in primary level and 77. 8% in secondary level, which is higher than Singapore and the highest in ASEAN countries (Figure 0-1). However while statistics on educational attainment may be high, the economic situation in the Philippines is still not so good. The Philippines has succeeded in expanding its education in quantit ative terms, but now they have to think about “Quality of education”. Figure 0-1 Literacy rate and enrolment ration in ASEAN countries Adult literacy rate (% age 15 and above) 1998 91. 8 90. 7 86. 4 95. 0 94. 8 92. 9 85. 7 84. 1 37. 4 46. 1 Youth literacy rate (% age 15-24) 1998 99. 7 99. 3 97. 1 98. 8 98. 4 96. 7 97. 3 90. 5 56. 9 67. 5 85. 1 Age grope enrolment rations (adjusted) Primary age group Secondary age grope (% of relevant age group) (% of relevant age grope) 1997 99. 4 87. 6 99. 9 88. 0 99. 9 99. 9 99. 2 99. 3 99. 9 73...
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...BSBHRM506A Manage recruitment, selection and induction processes Assessment 3 9/1/2014 ACC140130 Mitch Mueller TABLE OF CONTENTS INDUCTION AND ORIENTATION TASK 1 INDUCTION GUIDE………………………………………………………………………………………….….........................4 MENTORING SYSTEM…………………………………………………………………………………………..........…………...5 TASK 2 STUDENT ORIENTATION SURVEY....................................................................................................7 * INTRODUCTION * ORIENTATION GOOD PRACTICE PRINCIPLES * CURRENT ORIENTATION PRACTICES * CONCERNS WITH CURRENT ORIENTATION PRACTICES * IMPROVING ORIENTATION AND TRANSITION THROUGH COORDINATION TASK 3 PROBATIONARY PLAN...................................................................................................................11 TASK 4 ORIENTATION SURVEY...........……………………………………………………………………...........……….………….12 INDUCTION POLICY AND PROCEDURE..........................................................................................15 HR INDUCTION & ORIENTATION INDUCTION New staff induction guide Before Arrival | Supervisor Responsibility | HR Responsibility | | Prepares for new starter arrival using pre-arrival checklist.Schedules meetings and activities for new starters first week | Completes recruitment and selection processSends employment Offer Letter to preferred candidate | | New staff | Supervisor | HR | Starting Essentials | Begins to orient themselves to BS Training including the use of the...
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...CHAPTER PART 2 2 Forecasting Demand and Supply FORECASTING DEMAND AND SUPPLY LEARNING OBJECTIVES • • • • • • Understand and select information required to forecast HRP Identify members of the HR planning team Understand the four steps in the HRP process Apply techniques to forecast HR demand and supply Describe various methods for assessing labour planning (quantitative and qualitative) Discuss key challenges in forecasting HR demand and supply 26 Part 2 | Forecasting Demand and Supply ■ PROFILE The Great Pyramid of Giza The Great Pyramid of Giza has fascinated the world for centuries and is revered as one of the greatest mysteries of time. When it was first built it was 145 metres tall, making it the tallest structure on the earth for over 4,300 years. Egyptologists argue that even with all of the human and computer advancements achieved to date, it would be near impossible to replicate the production of these pyramids. The HR planning scale of the project would be among the biggest challenges to face. Archaeologists have their own methods for determining how many workers (mostly slaves) were employed at Giza, but a majority agree that the Great Pyramid was built by approximately 4,000 primary labourers—quarry workers, haulers, and masons. These primary labourers would have been supported by 16,000 to 20,000 secondary workers—ramp builders, tool-makers, mortar mixers, and those providing back-up services such as supplying food, clothing, and fuel. These estimates suggest...
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...Bsbhrm506A Manage Recruitment, Selection and Induction Processes BSBHRM506A Manage recruitment, selection and induction processes Assessment 3 9/1/2014 ACC140130 Mitch Mueller TABLE OF CONTENTS INDUCTION AND ORIENTATION TASK 1 INDUCTION GUIDE………………………………………………………………………………………….….........................4 MENTORING SYSTEM…………………………………………………………………………………………..........…………...5 TASK 2 STUDENT ORIENTATION SURVEY....................................................................................................7 * INTRODUCTION * ORIENTATION GOOD PRACTICE PRINCIPLES * CURRENT ORIENTATION PRACTICES * CONCERNS WITH CURRENT ORIENTATION PRACTICES * IMPROVING ORIENTATION AND TRANSITION THROUGH COORDINATION TASK 3 PROBATIONARY PLAN...................................................................................................................11 TASK 4 ORIENTATION SURVEY...........……………………………………………………………………...........……….………….12 INDUCTION POLICY AND PROCEDURE..........................................................................................15 HR INDUCTION & ORIENTATION INDUCTION New staff induction guide Before Arrival | Supervisor Responsibility | HR Responsibility | | Prepares for new starter arrival using pre-arrival checklist.Schedules meetings and activities for new starters first week | Completes recruitment and selection processSends employment Offer Letter to preferred candidate | | New staff | Supervisor | HR | Starting Essentials | Begins...
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...1 Chapter One Chapter Outline Purchasing and Supply Management Supply Management Terminology Supply and Logistics The Size of the Organization’s Spend and Financial Signifi cance Supply Contribution The Operational versus Strategic Contribution of Supply The Direct and Indirect Contribution of Supply The Nature of the Organization Supply Qualifications and Associations Challenges Ahead Supply Chain Management Measurement Risk Management Sustainability Growth and Infl uence Effective Contribution to Organizational Success The Organization of This Text Conclusion Questions for Review and Discussion References Cases 1–1 Qmont Mining 1–2 Erica Carson 1–3 Southeastern University Purchasing and Supply Management 2 Purchasing and Supply Management Key Questions for the Supply Decision Maker Should we • Rethink how supply can contribute more effectively to organizational goals and strategies? • Try to find out what the organization’s total spend with suppliers really is? • Indentify opportunities for meaningful involvement in major corporate activities? How can we • Align our supply strategy with the organization’s strategy? • Get others to recognize the profit-leverage effect of purchasing/supply management? • Show how supply can affect our firm’s competitive position? Every organization needs suppliers. No organization can exist without suppliers. Therefore, the organization’s approach to suppliers, its acquisition processes and policies, and its relationships with...
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...Payable Accounts Receivable Accumulated Depreciation—Buildings Accumulated Depreciation—Equipment Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bonds Payable Buildings Cash Common Stock Copyrights Cost of Goods Sold Debt Investments Depreciation Expense Discount on Bonds Payable Dividend Revenue Dividends Dividends Payable Equipment Freight-Out Gain on Disposal of Plant Assets Goodwill Income Summary Income Tax Expense Income Taxes Payable Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Classification A Current Liability Current Asset Plant Asset—Contra Plant Asset—Contra Operating Expense Current Asset—Contra Operating Expense Financial Statement Balance Sheet Balance Sheet Balance Sheet Balance Sheet Income Statement Balance Sheet Income Statement Income Statement Balance Sheet Balance Sheet Normal Balance Credit Debit Credit Credit Debit Credit Debit Debit Credit Debit Debit Credit Debit Debit Debit Debit Debit Credit Debit Credit Debit Debit Credit Debit (1) Debit Credit Debit Debit Credit Debit Credit Debit B Operating Expense Long-Term Liability Plant Asset C Current Asset Stockholders' Equity Intangible Asset Cost of Goods Sold Balance Sheet Balance Sheet Balance Sheet Income Statement Balance Sheet Income Statement Balance Sheet Income Statement Retained Earnings Statement Balance Sheet Balance Sheet D Current Asset/Long-Term Investment Operating Expense Long-Term...
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...Process Management: Principles and Practice for Strategic Impact Second Edition Nigel Slack Stuart Chambers Robert Johnston Alan Betts ISBN: 978-0-273-71852-9 Pearson Education Limited 2009 Contents Part 1: Teaching Guide ........................................................................................................................................ 7 Chapter 1: Operations and processes.................................................................................................................... 8 Chapter 2: Operations strategy ........................................................................................................................... 12 Chapter 3: Supply network design...................................................................................................................... 19 Chapter 4: Process design 1 – positioning.......................................................................................................... 22 Chapter 5: Process design 2 – analysis ............................................................................................................... 26 Chapter 6: Product and service design processes ............................................................................................... 31 Chapter 7: Supply chain management ................................................................................................................ 34 Chapter 8: Capacity management..................
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