Macro Eco - 1739 Words

Question 1: Assume that Econoland produces haircuts and shirts with inputs of labor. Econoland has 1000 hours of labor available. A haircut requires  ½ hour of labor, while a shirt requires 5 hours of labor. Construct Econolands PPF. Answer 1: To construct Econolands Production Possibility Frontier (PPF) we first need to understand what is a PPF. A production possibilities frontier (PPF) is a graph showing the different quantities of two goods that an economy can efficiently produce with limited productive resources. Points along the curve describe the trade-off between the two goods, that is, the opportunity cost. Opportunity cost here measures how much an additional unit of one good costs in units forgone of the other good.†¦show more content†¦Macroeconomics deals with both long run economic growth and the short run business cycles that constitute the business cycle. Macroeconomics focuses on the economic behaviour and policies that affect consumption and investment, the domestic currency and trade balance, the determinants of changes in wages and prices, monetary and fiscal policies, the supply of money, the budget, interest rates and national debt. There are also a number of secondary objectives which are held to lead to the maximization of income over the long run. While there are variations between the objectives of different national and international entities, most follow the ones detailed below: o Sustainability - a rate of growth which allows an increase in living standards without undue structural and environmental difficulties. Economic growth will be studied later on in this book. o Full employment - where those who are able and willing to have a job can get one, given that there will be a certain amount of frictional and structural unemployment. o Price stability - when prices remain largely stable, and there is not rapid inflation or deflation. Price stability is not necessarily the same as zero inflation, but instead steady levels of low-moderateShow MoreRelatedThe Fragance Market and Perfume Industry792 Words   |  3 Pagesenvironment. Despite the recession, the fragrances market have managed to boost their ma rket value and thrive in the slowly recovering economy. To stay in business, it is imperative for marketing managers in fragrances to acknowledge issues in their macro and micro environments, such as the current economic state, the behaviour of consumers and governmental issues revolving around the perfume industry. In spite of the slow recovery from the 2008 recession, market value of fragrances have increasedRead MoreThe Marketing and Management Decisions of Woolworths Limited730 Words   |  3 Pages2009:132). Woolworths, key task is to understand the marketing environment factors that influence the business either positively or negatively. Macro environment is made up of political, economic, social, technological, legal, physical and demographic factors which affect the business from outside. With the recent changes that are taking place in the macro environment, it is important that businesses, including Woolworths are able to prepare themselves for these changes which have an impact on theRead MoreTechnological Aspects of Eco-Innovation746 Words   |  3 PagesIn Indonesia, the project primarily focused on the technological aspects of eco-innovation, specifically the greening of the production process utilizing both simple and advanced cleaner production options that the majority of S MEs in newly-industrializing nations had consumed and disposed energy resources that contribute to the environmental degradation. Moreover, the establishment of AESIC is also to encourage sustainable production and improve management activities of SMEs that leads toRead MoreA Study On The Concord Waterfall1569 Words   |  7 Pagesthat has the potential to capture both local and foreign markets in terms of Eco, Health and Wellness Tourism, but there are some challenges that have ensued in establishing this product on the market. This study is mainly based on the principles of †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. and how it can be applied or is applied to the Concord Waterfall which is the focus of my study. The Concord Waterfall is an ideal location to invest in the area of eco, health and wellness tourism. Presently, in the Caribbean region health andRead MoreAttitude And Perception Of Banks Employees Toward Green Banking1404 Words   |  6 PagesATTITUDE AND PERCEPTION OF BANKS EMPLOYEES TOWARD GREEN BANKING INTRODUCTION In the present era of globalization, as everyone is focused on the development process on the both levels, i.e. micro as well as at macro level and want to capture the world market at any cost, but they forget the side effects of development process which directly effect our environment and leads to the problem of climate change. The increase in the human activity, causes emission of harmful gases such as carbon dioxideRead MoreSustainability Analysis : The Rain Forrest Alliance And Dole Food Company1136 Words   |  5 Pagesanalyze the discrepancies and similarities between their respective concepts. Through the analysis, this essay will provide reasoned conjectures concerning the repercussions of having such discrepancies and similarities, and thus provide conclusions for macro-level discussions on the legitimacy of â€Å"sustainability† as a term, as well as an agent of initiative. The Rain Forrest Alliance addresses all pillars of sustainability – environment, social, and economic -- with its admission of its mission: â€Å"TheRead MoreMy Midterm Paper : Gloria And Alejandro Sanchez1629 Words   |  7 Pagesoccur at the individual or environmental level or in the relationship between the two. When looking at the person in environment lens, I prefer to use a micro-mezzo-macro approach. In this approach, looking at the individual as the micro level, the family as the mezzo level, and society or the community the individual lives in as the macro level. Many times, change at one level leads to change in another. I continue to focus on the individual and the environment, but I look at strength such as theRead MoreDeveloping an Action Plan for Central Kalhari Game Reserve961 Words   |  4 Pagesriverbeds also being the indigenous land for the First People of Kalahari (FPK) whom are commonly referred to as Basarwa or the San. Furthermore the park is on e of the first to have the eco-lodge which also acts as an attraction as it faces the Tau Pan according to (Maryland 2009). 1.2 MACRO/MICRO ENVIRONMENT The macro environment are the external variables that affect the organization and the organization does not have control over them this being politics, economy, socio-cultural and technology (PEST)Read MoreCase Analysis : Tesla s Marketing Goals Essay1559 Words   |  7 Pagesniche market of electric, self-driving cars has presented several opportunities and threats due to the strengths and weaknesses of the organisation. For the car industry, policy, legality, technology and the socio culture are the most influential macro environmental forces for the company (Mangram, 2012). This is due to the fact that legal restrictions prohibit Tesla in terms of safety standards and energy and policy conservation (Regulations of Emissions and Safety Standards, National Traffic andRead MoreEco-Efficiency Creating More Value with Less Impact14412 Words   |  58 PagesDEDICATED TO MAKING A DIFFERENCE eco-efficiency creating more value with less impact foreword In 1991, we in the then Business Council for Sustainable Development were looking for a single concept, perhaps a single word, to sum up the business end of sustainable development. Finding no such concept on the lexicographer s shelf, we decided we would have to launch an expression. After a contest and much agonizing, we came up with eco-efficiency. In simplest terms, it means creating more goods