51 days ago by James Penstone

[Source: flickr.com Image by Concrete Forms Some rights reserved ] All economies need to answer the three basic questions which result from the fact of scarcity: What to produce How to produce For whom to produce For a market economy, we need to research the following: a) How it works – how does it ...

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58 days ago by James Penstone

Image by bobster855 (flickr.com Some rights reserved ) All economies need to answer the three basic questions which result from the fact of scarcity: What to produce How to produce For whom to produce For a planned economy, we need to reserach the following: a) How it works – how does it anser the t ...

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72 days ago by James Penstone

The PPF http://en.wikipedia.org/wiki/File:Ppf_small.png These can sometimes be referred to as Production Possibility Curves (PPCs), to reflect their shape. Frontier is a better word to use … you will need to think about what it is that the term frontier implies. This session assumes you have a basic ...

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82 days ago by James Penstone

We are now beginning to consider some of the fundamental assumptions which are central to the ’science’ of Economics. We should already understand that utility is a key idea, yet also a very vague term when one we consider how subjective this idea is. Another key assumption of mainstream Economics i ...

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93 days ago by James Penstone

In this section we consider the following concepts as outlined in the IB Economics Syllabus [© International Baccalaureate Organization, 2003] : ‘Scarcity • factors of production: land, labour, capital and management/entrepreneurship • payments to factors of production: rent, wages, interest, profit ...

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175 days ago by ahewat

The Environmental Protection Agency (EPA) is being accused by an environmental group (WildEarth Guardians’) in the United States of neglecting the public’s health by failing to decrease air pollution. The WildEarth Guardians’ accusations come from a 2005 investigation which found that all 50 states ...

ZIS Economists - welkerswikinomics.com/students · 1 reference

178 days ago by Max Spielbichler

Article: http://www.voanews.com/english/archive/2009-03/2009-03-08-voa11.cfm In the Niger Delta, over 60 oil companies have been dumping waste from oil and gas extraction into the Niger Delta, which makes up 77% of Nigeria’s mangrove ecosystem. 1.5 million tons of waste has been dumped into the delt ...

ZIS Economists - welkerswikinomics.com/students · 1 reference

185 days ago by vhasenmeyer

Due to climate destabilization, companies worldwide are trying to reduce their carbon emissions. This article states that the Kyoto Protocol has not influenced countries enough so carbon emissions are still very high. The US is willing to reduce their emissions only if other countries are doing it t ...

ZIS Economists - welkerswikinomics.com/students · 1 reference

186 days ago by gdubois

Sixteen years of mounting scientific evidence are securing the idea that “specific forms of air pollution increase the risk of suffering a fatal heart attack, among other cardiovascular diseases.” If these particular toxins are present in the atmosphere, even at levels below the federal health stand ...

ZIS Economists - welkerswikinomics.com/students · 1 reference

187 days ago by Rocio Perez

China, whose economy heavily relies on exports, has been experiencing a decline in exports for six months now as of April. The value of China’s exports in April fell 22.6% in comparison to last year, a faster decline than in March’s exports (also in comparison to March of last year) during which Chi ...

ZIS Economists - welkerswikinomics.com/students · 1 reference