The earliest form of written language is thought to originate from the Semitic countries. The word Semitic comes from the name Shem, named in Genesis 6: While pieces of the puzzle have yet to fall in place, there appears to be an evolution of the alphabet through the ages. It is believed that languages spread through trade, conquering tribes, and migration.
Markets Economists study trade, production and consumption decisions, such as those that occur in a traditional marketplace. Electronic trading brings together buyers and sellers through an electronic trading platform and network to create virtual market places.
Microeconomics examines how entities, forming a market structureinteract within a market to create a market system. These entities include private and public players with various classifications, typically operating under scarcity of tradable units and light government regulation.
In theory, in a free market the aggregates sum of of quantity demanded by buyers and quantity supplied by sellers may reach economic equilibrium over time in reaction to price changes; in practice, various Ib commentary international trade may prevent equilibrium, and any equilibrium reached may not necessarily be morally equitable.
For example, if the supply of healthcare services is limited by external factorsthe equilibrium price may be unaffordable for many who desire it but cannot pay for it.
Various market structures exist. In perfectly competitive marketsno participants are large enough to have the market power to set the price of a homogeneous product. In other words, every participant is a "price taker" as no Ib commentary international trade influences the price of a product.
In the real world, markets often experience imperfect competition. Forms include monopoly in which there is only one seller of a goodduopoly in which there are only two sellers of a goodoligopoly in which there are few sellers of a goodmonopolistic competition in which there are many sellers producing highly differentiated goodsmonopsony in which there is only one buyer of a goodand oligopsony in which there are few buyers of a good.
Unlike perfect competition, imperfect competition invariably means market power is unequally distributed. Firms under imperfect competition have the potential to be "price makers", which means that, by holding a disproportionately high share of market power, they can influence the prices of their products.
Microeconomics studies individual markets by simplifying the economic system by assuming that activity in the market being analysed does not affect other markets.
This method of analysis is known as partial-equilibrium analysis supply and demand. This method aggregates the sum of all activity in only one market. General-equilibrium theory studies various markets and their behaviour.
It aggregates the sum of all activity across all markets. This method studies both changes in markets and their interactions leading towards equilibrium.
Production theory basicsOpportunity costEconomic efficiencyand Production—possibility frontier In microeconomics, production is the conversion of inputs into outputs.
It is an economic process that uses inputs to create a commodity or a service for exchange or direct use. Production is a flow and thus a rate of output per period of time.
Distinctions include such production alternatives as for consumption food, haircuts, etc. Opportunity cost is the economic cost of production: Choices must be made between desirable yet mutually exclusive actions. It has been described as expressing "the basic relationship between scarcity and choice ".
Part of the cost of making pretzels is that neither the flour nor the morning are available any longer, for use in some other way. The opportunity cost of an activity is an element in ensuring that scarce resources are used efficiently, such that the cost is weighed against the value of that activity in deciding on more or less of it.
Opportunity costs are not restricted to monetary or financial costs but could be measured by the real cost of output forgoneleisureor anything else that provides the alternative benefit utility. Other inputs may include intermediate goods used in production of final goods, such as the steel in a new car.
Economic efficiency measures how well a system generates desired output with a given set of inputs and available technology. Efficiency is improved if more output is generated without changing inputs, or in other words, the amount of "waste" is reduced.
A widely accepted general standard is Pareto efficiencywhich is reached when no further change can make someone better off without making someone else worse off. An example production—possibility frontier with illustrative points marked.
The production—possibility frontier PPF is an expository figure for representing scarcity, cost, and efficiency.
In the simplest case an economy can produce just two goods say "guns" and "butter".Delegation strategies for the NCLEX, Prioritization for the NCLEX, Infection Control for the NCLEX, FREE resources for the NCLEX, FREE NCLEX Quizzes for the NCLEX, FREE NCLEX exams for the NCLEX, Failed the NCLEX - Help is here.
International relations (IR) is a branch of political science, that deals with foreign affairs and global issues among the states within the international system, including the roles of states, intergovernmental organizations, non-governmental organizations (NGOs) and multinational corporations.
Nick, Perhaps you should look into Questrade as well as they have a low min, only $/trade as well as real time quotes included.
IB doesn’t have real time quotes unless you pay for them. How to Structure an Economics IA This post will go through what you should write in your Economics IA, with step-by-step instructions and with word counts for each section. What you need to . WARNER BROS CARTOONS.
Crazy characters and wacky situations were the trade mark of these cartoons. 1X £ each. HARE REMOVER. classic Warner Bros cartoon with Bugs Bunny. Feb 12, · Guidelines: Cannot be older than a year.
-Cannot be from the same source you used for the first commentary.-Must be about International Trade Topics.