Instruction
1.Based on the Parsonian solution to the ‘problem of order’ in human societies, what are the conditions that must be met for a social system to be viable in its present form? Identify and describe two examples of conditions that all systems must deal with.
2.Explain how small firms complement the economic activity of larger organizations. Describe two examples of how small firms can provide services to large firms.
3.Describe economics as a social science, and in terms of capitalism.
4.Explain what the production possibilities model is and discuss how this model can be used.
5.Describe a process that industries could utilize to gather data/information about supply and demand uncertainties, to help determine production quantities.
6.Briefly explain the concept of macroeconomics and describe two economic variables that define the status of macroeconomic.
7.Provide a brief explanation of the theory of consumer and the theory of firm.
8.Identify two broad classifications in the demand and supply model of markets, and briefly describe each.
9.Discuss at least two ways in which less developed countries undercut the competition in order to compete in the global economy.
10.Explain what industrial upgrading is, and identify its stages.
11.Briefly define offshore outsourcing. Discuss one advantage and one disadvantage of offshore outsourcing, for the outsourcers and the outsourcees.
12.What type of funds are controlled by nation-states (not corporations or individual investors)?
13.Discuss the potential outcome if marginal utility of consumption failed to diminish. Identify and describe the concept that addresses the tendency of marginal utility to decline during a period.
14.Define the spectrum of corporate social responsibilities within a corporation.
15.Explain what the “new view” of property tax means.