Micro1 Essay Example | Topics and Well Written Essays - 1000 words

Micro1 - Essay Example The cost is nil as well for attendees whose higher degree provides upward revision of earnings. The components of opportunity cost include fees paid for tuition purposes, foregone earnings, book prices, leisure time. The percentage of opportunity cost and the money value is closely correlated. Tuition fees of colleges can be treated as the greatest cost of attending college. Answer 2 Decisions taken at the margin are one of the key factors in decision making processes. The marginal cost accrued to a decision is taken into account by the decision maker at the margin. The decision maker judges whether the cost is greater than the benefit when the decision will take effect. An example is as follows: an employer judges the additional cost of recruiting an extra employee with the benefit the organization gains from recruiting that additional person. If it is analysed that benefit exceeds the salary, then the employer decides to recruit the person. Average cost is used while determining de cisions on investments and tax. Answer 3 The statement is as follows: â€Å"HSBC in Talks on Possible Sale of Ping An Stake†. The statement is a positive statement as it can be accepted or rejected depending on the available evidences (The Wall Street Journal, 2012a). The statement is as follows: â€Å"Sahara Feeling heat over bond sales†. ... The statement is a positive statement as it can be accepted or rejected depending on the available evidences (The Wall Street Journal, 2012d). Answer 4 The scenario under assumption is seamstress decides to produce more dresses in an hour than the seamstress usually does. The incentive behind such action of the seamstress can be listed as follows: 1) Subsidy on dress prices from the part of the government; 2) Fall in price of raw materials; 3) Reduction in transport prices necessary for supply of goods to the market; 4) Rise in demand conditions; 5) Possibilities of exports opening up. There may also be some disincentives like fall in the export possibilities of the goods, uncertainty getting accrued to the production process, and sudden fall in demand expectations. The scenarios based on political, legal or cultural aspects are unavoidable. Answer 5 It is assumed that the farmer uses the available land in efficient fashion. The following diagram denotes the total amount of corn and beans he can produce. The farmer has the luxury to produce 150 units of beans if he chooses not to produce any corn. On the other hand, he can produce 300 units of corn if he chooses not to produce any beans. In economics, such an action is defined as efficient use of resources. The opportunity cost of corn at each level of production is 25 units of beans. The marginal cost of the farmer at each level of production is the cost of 25 units of beans. The slope of the line is 25. The slope of the line is same as the marginal cost. Answer 6 The costs of producing corn and beans are needed to determine the level at which the farmer should produce. Answer 7 Answer 8 The skills that have been taken under consideration to be compared are

Case study Example | Topics and Well Written Essays - 750 words - 6

Case Study Example takeholder include the Government; UNICEF; National Health Committee; NGOs; school teachers; local leaders; national television; media; village sanitation committees; private sector; and households. Responsibilities for stakeholders have been clearly defined in project plans. Impoverished communities around the world suffer from unique problems. Singleton (2003) described origins of problems including lack of access to safe water; lack of facilities for health care; lack of access to educational opportunities; shortage of nutrition; lack of employment opportunities; inadequate transport facilities; and limited or expensive power supplies. Impoverished communities are caused by lack of income because of underemployment; inadequate housing, sanitation, and water supply; limited educational opportunities; or inadequate or expensive transport. Reasons for failure of poverty alleviation strategies include lack of planning for operation and maintenance; limited attention to the development of ownership by the local communities; political interference and intervention; allocation of funds without poverty alleviation strategy; and corruption. Myanmar suffered the deaths of 30000 children in 1997 from diarrhoea. The sanitation coverage was 39 percent for the population, and personal and domestic hygiene was poor. The World Health Report published in 2000 ranked Myanmar 190th among 191 countries. Attempts were made to improve sanitation in the 1990s by promoting community participation. A strategy was the provision of free latrine plans to families, but the project had to be phased out as it did not succeed in achieving community support and became costly. The government realized that its role was to facilitate and stimulate local communities for recognizing and meeting their own needs (Singleton, 2003). The aim of this case study is to highlight the role project governance in the development of engineering solutions for communal sanitation in Myanmar. Aspects of