Premium Essay

Eco Test Paper

In: Other Topics

Submitted By tanu2014
Words 935
Pages 4
Section – I

1 Citrus Speculation and Forecasting, Inc, has been hired by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below. What are your predictions? For each part, sketch a graph showing the appropriate demand and supply analysis.

a) A major freeze destroys a large number of the orange trees in Florida. b) The American Medical Association announces that drinking orange juice can reduce the risk of heart attack. (Marks 10)

2) During a year of operation, a firm collects Rs. 2,00,000 in revenue and spends Rs. 90,000 on raw materials, labor expense, utilities, and rent. The owners of the firm have provided Rs. 4,00,000 of their own money to the firm instead of investing the money and earning a 10 percent annual rate of return. a) The explicit costs of the firm are $ __________. The implicit costs are $ __________. Total economic cost is $ __________. b) The firm earns economic profit of $ __________. c) The firm’s accounting profit is $ ______________. (Marks 5)

Section – II (2 marks each)

1) Which of the following is/are the outcomes of sinking of a vessel transporting crude oil to a country that is completely dependent on imports for oil? a) A fall in the quantity supplied of crude oil in the country. b) A rise in the prices of crude oil. c) Shifting of supply curve towards right. d) Both (a) and (b) above. e) All of (a), (b) and (c) above.

2) Which of the following is a movement along the supply schedule? a) A fall in the output of rice because of a rise in the prices of pesticides and fertilizers. b) An increase in supply of air travel because of the liberalization of the aviation...

Similar Documents

Premium Essay

Eco 410 Test Bank

...A++PAPER;http://www.homeworkproviders.com/shop/eco-410-test-bank/ ECO 410 TEST BANK ECO 410 Test Bank, All Possible Questions With Answers ECO 410 Week 2 Quiz 1: Chapters 1 and 2 ECO 410 Week 3 Quiz 2: Chapters 3 and 4 ECO 410 Week 4 Quiz 3: Chapters 5 and 6 ECO 410 Week 5 Quiz 4: Chapters 7 and 8 ECO 410 Week 6 Quiz 5: Chapters 9 and 10 ECO 410 Week 7 Quiz 6: Chapters 11 and 12 ECO 410 Week 8 Quiz 7: Chapters 13 and 14 ECO 410 Week 9 Quiz 8: Chapters 15 and 16 ECO 410 Week 10 Quiz 9: Chapter 17 and 18 ECO 410 Week 11 Quiz 10: Chapter 19 and 20 ECO 410 Quizzes and Exam Week 1 - 11 All Possible Questions With Answers ECO 410 Week 2 Quiz 1: Chapters 1 and 2 ECO 410 Week 3 Quiz 2: Chapters 3 and 4 ECO 410 Week 4 Quiz 3: Chapters 5 and 6 ECO 410 Week 5 Quiz 4: Chapters 7 and 8 ECO 410 Week 6 Quiz 5: Chapters 9 and 10 ECO 410 Week 7 Quiz 6: Chapters 11 and 12 ECO 410 Week 8 Quiz 7: Chapters 13 and 14 ECO 410 Week 9 Quiz 8: Chapters 15 and 16 ECO 410 Week 10 Quiz 9: Chapter 17 and 18 ECO 410 Week 11 Quiz 10: Chapter 19 and 20 ECO 410 Quizzes and Exam Week 1 - 11 All Possible Questions With Answers ECO 410 Week 2 Quiz 1: Chapters 1 and 2 ECO 410 Week 3 Quiz 2: Chapters 3 and 4 ECO 410 Week 4 Quiz 3: Chapters 5 and 6 ECO 410 Week 5 Quiz 4: Chapters 7 and 8 ECO 410 Week 6 Quiz 5: Chapters 9 and 10 ECO 410 Week 7 Quiz 6: Chapters 11 and 12 ECO 410 Week 8 Quiz 7: Chapters 13 and 14 ...

Words: 471 - Pages: 2

Premium Essay

Team Ethics

...Team Ethics Paper July 27, 2013 MGTOP593 Section 3 Team 4 Normative Ethical Decision Making Frameworks 1. Utilitarian approach is an ethical theory stating that the rightness and wrongness of an act depends on the consequences the act produces not the act itself. There are four components of the utilitarian approach: 1) the act does not need to maximize benefits but rather focuses on utility, 2) when calculating benefits, utilitarian’s consider themselves equally with others in the equation, 3) utilitarian’s focus on long-term consequences in addition to the short-term benefit-harm ratio. According to utilitarianism an act is not moral only because its benefits outweighs its harm, instead one where utility i.e. satisfaction has been maximized. (Frederick, 1999, pp. 17-19) 2. Unlike the utilitarian approach, the Virtue ethics approach does not take into account the principles of the action, the action itself, or the consequences of the action, rather focusing on the values and moral character of the person performing the act. Characteristics are the personal virtues. (Frederick, p. 30) The shortcomings of virtue ethics are its inability to solve the problem of dilemma when a person has contradictory values. Second, the justification problem, because every culture has different virtues how do you justify which character traits are virtues. (Hursthouse, 2013) 3. Deontological ethics approach judges the morality of an action based on expectations from the person......

Words: 2127 - Pages: 9

Premium Essay

Economic Term Paper

...ECO 100 – Principles of Economics COURSE DESCRIPTION Presents a survey of basic macro- and microeconomic principles and concepts. Reviews the economic dynamics of market forces affecting competition, different economic systems, the role of government in the economy, and economic aspects of international trade. Discusses the labor market, interest rates and the supply of money, and performance of a national economy. Examines the use of economics in business decisions, considering such principles as opportunity costs, diminishing returns, and the marginal principle. INSTRUCTIONAL MATERIALS Required Resources O'Sullivan, A., Sheffrin, S., & Perez, S. (2012). Survey of economics: Principles, applications, and tools (5th ed.). Upper Saddle River, NJ: Pearson-Prentice Hall. MyEconLab book key  Note: This book key comes with the purchase of a new textbook and is needed in order to access MyEconLab. Supplemental Resources Aaronson, D., Mazumder, B., & Schechter, S. (2010). What is behind the rise in long-term unemployment? Economic Perspectives, 34(3/4), 28-51. Andreyeva, T., Long, M. W., & Brownell, K. D. (2010). The Impact of Food Prices on Consumption: A Systematic Review of Research on the Price Elasticity of Demand for Food. American Journal of Public Health, 100(2), 216-22 Heyne, P., Boettke, P. J., & Prychitko, D. L. (2010). The economic way of thinking. (12th ed.). Upper Saddle River: Pearson-Prentice Hall. High, J. (2011). Economic Theory and the Rise of Big Business......

Words: 5350 - Pages: 22

Premium Essay

How Does Inflation Affect Economic Growth

...HOW DO IN W OES NFLAT TION AFFE ECT ECO ONOM GROW MIC G WTH? EC CON30 01 ASSO OC.PRO OF.DR Ayla OĞUŞ O Gör rkem To opuz 07 7020111 13       A Abstract t; T This pape examine relation er es nship betw ween infla ation ,defl lator and current GDP o econom growth with usi econometric tec on mic h ing chniques w that provide with p approp priate proc cedures fo estimati and in or ion nference.Fo many c or country, in nflation has an importan effect in econom situatio n nt n mic on.Moreov ver,inflatio is used for to on d see how much countries developed. w d .But in my case i us inflatio for how much y sed on w it effec cted econo omic grow wth.And a also i follo up oth variabl with in ow her les nflation to show how the effect economic g w ey growth. T mode include a poten The el es ntial impa of inf act flation on growth ,current , GDP, inflation effect on consume prices via anuua % valu and in er al ues nflation on deflator(an nnual %). effect o GDP d T mode highlig The el ghts if inf flation inc creses dir rectly ther is a negative re n impact on grow t wth.When inflation above th percent he tage of … …then gro owth is affect in a nega ative way.Below tha rate inf at flation does not hav any ef ve ffect on h y ve tly e growth or it may even hav a slight positive effect. S So,in this paper inc clude both negative and posi h e itive affec of inflation on ct econom grow but mostly neg mic wth m gative aff fect, and also incl lude time series e eviden about how muc......

Words: 3473 - Pages: 14

Premium Essay

Green Marketing

...development to the actual advertising campaign itself. Going by alternative names such as sustainable marketing, environmental marketing, green advertising, eco marketing, organic marketing, all of which point to similar concepts though perhaps in a more specific fashion, green marketing is essentially a way to brand your marketing message in order to capture more of the market by appealing to people’s desire to choose products and services that are better for the environment. There are many environmental issues impacted by the production of goods and rendering of services, and therefore there are also many ways a company can market their eco-friendly offerings. Green marketing can appeal to a wide variety of these issues: an item can save water, reduce greenhouse gas emissions, cut toxic pollution, clean indoor air, and/or be easily recyclable. When put side by side with the competition, the more environmental marketing claims your product or service can make, the more likely it is the consumer will select it, provided the price point isn’t too much higher than the alternative. What Makes Marketing Green? But you can’t really market your business or your product as green without managing how your company functions with respect to the environment. Green marketing can take many forms. For instance, you may market eco-friendly aspects such as:  Operational sustainability: Service companies and manufacturers can improve operational sustainability by reducing everyday......

Words: 1329 - Pages: 6

Premium Essay

Eco 550 Complete Class

...ECO 550 Complete Class Click Link Below To Buy: http://hwcampus.com/shop/eco-550/eco-550-complete-class/ Or Visit www.hwcampus.com ECO 550 Complete Class ECO 550 Week 3 Assignment 1 – Demand Estimation Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independentand- dependent-variables–3. Note: Your professor will provide you with the equation and data necessary for you to complete this assignment. You will find this information attached to Assignment 1 within the course shell. Write a four to six (4-6) page paper in which you: 1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. 2. Determine the implications for each of the computed elasticities for the business in terms of shortterm and long-term pricing strategies. Provide a rationale in which you cite your results. 3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. 4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed.......

Words: 3181 - Pages: 13

Premium Essay

Eco 550 Complete Class

...ECO 550 Complete Class Click Link Below To Buy: http://hwcampus.com/shop/eco-550/eco-550-complete-class/ Or Visit www.hwcampus.com ECO 550 Complete Class ECO 550 Week 3 Assignment 1 – Demand Estimation Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independentand- dependent-variables–3. Note: Your professor will provide you with the equation and data necessary for you to complete this assignment. You will find this information attached to Assignment 1 within the course shell. Write a four to six (4-6) page paper in which you: 1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. 2. Determine the implications for each of the computed elasticities for the business in terms of shortterm and long-term pricing strategies. Provide a rationale in which you cite your results. 3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. 4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed.......

Words: 3181 - Pages: 13

Premium Essay

Eco 550 Complete Class

...ECO 550 Complete Class Click Link Below To Buy: http://hwcampus.com/shop/eco-550/eco-550-complete-class/ Or Visit www.hwcampus.com ECO 550 Complete Class ECO 550 Week 3 Assignment 1 – Demand Estimation Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independentand- dependent-variables–3. Note: Your professor will provide you with the equation and data necessary for you to complete this assignment. You will find this information attached to Assignment 1 within the course shell. Write a four to six (4-6) page paper in which you: 1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. 2. Determine the implications for each of the computed elasticities for the business in terms of shortterm and long-term pricing strategies. Provide a rationale in which you cite your results. 3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. 4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed.......

Words: 3181 - Pages: 13

Free Essay

Plastic

...Assignment #4 Plastics Ana Peterson Welcome to Assignment 4. Today’s assignment is about plastics, specifically about using plastics to create more environmentally friendly forms of packaging, but first…. Petersons’ Short Takes Don’t be fooled by environmentalist who post videos on YouTube designed to invoke an emotion so you will form an opinion that agrees with their agenda and at the same time offering no solution to the problem. And I quote “40 years later the future is here, and with respect to plastics it’s not so great.” Environmentalist would have you believe that plastic is the great spawn of Satan and the only solution is to completely eradicate it or tax anyone that profits from it until they can no longer afford to use it. “Those who profit from plastics are trying to dispute the harm that plastics cause.” Haven’t we all profited from plastics? Hasn’t the entire human race profited from plastics? Isn’t the button on your shirt plastic? How about the microphone you are speaking into? Isn’t the camera you are using to make your video made out of plastic? I would argue that plastic has helped the environment more than it has harmed it. It would be an easy argument to make because speaking in generalities is pointless. Saying plastic is the problem takes the human factor out of it and invokes a negative emotion in people towards plastic....

Words: 1090 - Pages: 5

Free Essay

Butterflies

...Financial... Save Paper Eco561 Week 1 quantity supplied on a fixed supply curve, during the pre-Superbowl weeks, there is a spike in the demand and quantity supplied as consumers are readying for the big... Save Paper International Corporate Finance/Fin Gm571 Week 3 The current credit terms dictates 15% upon purchase and 85% the following week (Emery, Finnerty, & Stowe, 2007). As valuable a customer who LS is to Murray, LS... Save Paper Week 2 Checkpoint Xeco212 iPad within hours, and retailers werent replenished for weeks because the demand was too high for production. So when they did this, they didnt have a significant... Save Paper Hca230 Week 1 Assignment HCA230 Week 1 Assignment Today Managed Care is the most predominant form of insurance in the United States. Insurances such as PPO, POS, and HMO plans are all... Save Paper Two Weeks With The Queen courage and prejudice expressed in a very realistic way that we can relate to. Two Weeks with the Queen gives the reader a sense of reality. In the beginning... Save Paper Week 5 Qnt/561 show that the production rate at the Scranton Plant has changed from 200 per week. The Two Sample Test of Hypothesis The two- sample hypothesis testing... Save Paper TraInIng In Acc point around which a learning organization may develop. The training program contents in ACC aimed to change employees to make them adopt new ways of thinking and... Save Paper Eco/212 Week 5 Week 5 final paper Eco/212 Rex......

Words: 551 - Pages: 3

Free Essay

Paper Towel Experiment

...Design 2 Question: Which paper towel absorbs water the most? Personal Relevancy and Description of subject area: Paper towels are very useful when it comes to cleaning up spills. In addition, paper towels can be used to dry hands, wipe tables, and etc. (Paper towels) There are so many uses for paper towels that Americans last year “spent nearly $2.3 billion on paper towels” (Wilbert, 2003). The reason why Americans prefer paper towels than cloth towels is because they can be thrown away, unfortunately “sending 3000 tons of paper towels to landfills each day” (Wilbert, 2003). Imagine how many trees were cut down to meet consumer needs. According to the Business and the Environment, “270,000,000 trees are flushed down or thrown into the garbage” (2006). As a teacher, I want to teach my students to be more eco-friendly and to save money. Students have a tendency to overuse paper towels and waste not only money spent on paper towels, but also trees that were cut down to make paper towels. I want to show them how much paper towels they really need by doing an experiment of which paper towel absorbs water the most. Also, this experiment will show them that the most absorbent paper towel will hold enough water without over using it in a minor spill. Hypothesis: Bounty paper towels will absorb more volume of water, then other brands of paper towels in a time frame on one minute. Variables: Independent Variable: Three different types of 27.9x22.3 cm paper towel sheets will be......

Words: 2721 - Pages: 11

Premium Essay

Eco 550 Complete Class

...ECO 550 Complete Class Click Link Below To Buy: http://hwcampus.com/shop/eco-550/eco-550-complete-class/ Or Visit www.hwcampus.com ECO 550 Complete Class ECO 550 Week 3 Assignment 1 – Demand Estimation Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independentand- dependent-variables–3. Note: Your professor will provide you with the equation and data necessary for you to complete this assignment. You will find this information attached to Assignment 1 within the course shell. Write a four to six (4-6) page paper in which you: 1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. 2. Determine the implications for each of the computed elasticities for the business in terms of shortterm and long-term pricing strategies. Provide a rationale in which you cite your results. 3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. 4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed.......

Words: 3181 - Pages: 13

Premium Essay

Eco 550 Complete Class

...ECO 550 Complete Class Click Link Below To Buy: http://hwcampus.com/shop/eco-550/eco-550-complete-class/ Or Visit www.hwcampus.com ECO 550 Complete Class ECO 550 Week 3 Assignment 1 – Demand Estimation Imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independentand- dependent-variables–3. Note: Your professor will provide you with the equation and data necessary for you to complete this assignment. You will find this information attached to Assignment 1 within the course shell. Write a four to six (4-6) page paper in which you: 1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. 2. Determine the implications for each of the computed elasticities for the business in terms of shortterm and long-term pricing strategies. Provide a rationale in which you cite your results. 3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. 4. Assume that all the factors affecting demand in this model remain the same, but that the price has changed.......

Words: 3181 - Pages: 13

Premium Essay

Ecotourism in Bangladesh

...INTRODUCTION While tourism is a concept almost everyone around the world is familiar with, ecotourism is a relatively newfangled concept that not too much people have heard of and this is more realistic in the context of our country Bangladesh. Even we, when first assigned with this particular topic as our research project, did not have clear idea what ecotourism exactly was all about. Later, we studied in detail regarding the concept and got to what ecotourism actually is. Two topics that have attracted growing interest in anthropology in the past decade or two are tourism and the environment. Regarding tourism, increasingly people see vacations as a necessary corrective for what they perceive as a more and more stressful working life. Increasingly also, people see the environment as under threat from the profit‐seeking growth that drives corporations. Ecotourism can be broadly defined as an idea of leisure travel that has the object of enjoying features of what is seen as the natural environment in a way that has minimal negative consequences for the environment. Ecotourism is generally taken to include a sociocultural element, the intention of seeing and interacting with people (often identified as “indigenous”) whose customs and appearance seem exotic and attractive and doing so in a way that respects and benefits them. Bangladesh has lots of marvelous tourism spots but most of them are still unexplored by the relevant authority. Having all the minimum requirements,......

Words: 9064 - Pages: 37

Premium Essay

Consumer Attitude Towards Cycling in Bangladesh

...“Consumers attitude towards cycling in Bangladesh” Date of Submission 05-05-2015 Please go to the next page TABLE OF CONTENTS Page numbers Chapter 4 CHAPTER 1: INTRODUCTION 5 CHAPTER 2: BACKGROUND OF THE PROBLEM 5 2.1 ORIGIN OF THE REPORT 5 2.2 BACKGROUND OF THE PROBLE 6 CHAPTER 3: OBJECTIVE OF THE STUDY 6 3.1 BROAD OBJECTIVE 6 3.2 SPECIFIC OBJECTIVE 6 3.3 SIGNIFICANCE OF THE STUDY 7 CHAPTER 4: APPROACH TO THE PROBLEM 10 CHAPTER 5: RESEARCH DESIGN 12 CHAPTER 6: METHODOLOGY 13 CHAPTER 7: ANALYSIS AND INTERPRETATION 23 CHAPTER 8: LIMITATIONS AND FUTURE RESEARCH 24 CHAPTER 9: CONCLUSION AND RECOMMENDATION 25 Chapter 10: Research questionnaire Please go to the next page Chapter 1: Introduction The People’s Republic of Bangladesh was founded as a constitutional, secular, democratic, multiparty, parliamentary republic. After independence, Bangladesh endured periods of poverty and famine, as well as political turmoil and military coups. The restoration of democracy in 1991 has been followed by economic progress and relative political calm. Bangladesh is the world's eighth most populous country, as well as one of the world's most densely populated countries. Bangladesh is going through lot of obstacle such as poverty, unemployment, political instability, corruption, traffic congestions and climate change. In addition, structural changes in rural Bangladesh have incited rapid economic migration with the related complexities......

Words: 6222 - Pages: 25