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Study Guides for Economics at California State University-Northridge

ECON 160 Study Guide - Final Guide: Invisible Hand, Opportunity Cost, Takers
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Jasmine Nejati Econ 160 Professor Gikas Final Exam Study Guide Econ 160 Final Study Guide Chapter 1: Scarcity the limited nature of societys resources Economics the study of how society manages its scarce resources; **the ...

Economics
ECON 160
All Professors
ECON 160 Study Guide - Quiz Guide: Demand Curve, Midpoint Method

Elasticity Quiz Notes Wednesday, November 14, 2018 11:26 AM = = % 3 IMPORTANT ELASTICITY EQUATIONS Change in Elasticity Formula Te...

Economics
ECON 160
Kenneth Ng
ECON 160 Study Guide - Midterm Guide: Comparative Advantage, Opportunity Cost, Basic Books
Exam

MIDTERM EXAM Name:______________________________________ Score:________ Question 1 (40 points). Read the article about illegal immigrant labor and c onsider 2 farms. One is owned by Joe Wright in the United States and a se...

Economics
ECON 160
Kenneth Ng
ECON 308 Study Guide - Final Guide: James Goldsmith, Takeover, Tender Offer

In a tender offer, an outside group request existing shareholders of a corporation to sell their shares to the outside group at a preset tender price to gain control of the corporate management. Ex: The close of stock mark...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Final Guide: Covidien, Grocery Store, Historical Cost

Fourth degree price discrimination is selling to different consumers at the same price but the cost of providing the product to different consumers are different. Ex: Two people go on the internet to book a flight ...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Final Guide: Price Elasticity Of Demand, Economic Surplus, French Wine

Inverse Demand Elasticity Rule requires a firm to sell a product to consumers with higher own-price demand elasticity at a higher price. If you are seller and the 2 groups of consumers. 1 group has inelastic demand, which ...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Final Guide: Proxy Fight, C Corporation, Internal Control

There are 2 Legal forms of organization: nonprofit and forprofit. A nonprofit organization prohibits persons who control the organization from receiving the organizations residual profits. Residual profits must be used for...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Final Guide: American Tobacco Company, Marginal Revenue, Profit Maximization

Cost Center is used when headquarter can measure quantity quality of output, knows the function, and can set the profit maximizing output and rewards, while the cost center has knowledge to choose the optimal input mix to...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Final Guide: Frosted Flakes, Acura, 5 News

1) Economies of scale and scope: o Economies scale is when you should increase your output level, your average costs of production decline. Ex: GE has a conveyor belt brin...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Final Guide: Facility Management, Strategic Alliance, Nicotine

Splitoff means some parent firm shareholders receive the subsidiaries shares in return for relinquishing their parent firm shares. Divestiture means selling a segment of a firm to a third party. Ex: 21 Century selling part...

Economics
ECON 308
Tom K. Lee
ECON 308 Midterm: Midterm 2 Study Guide Part 1

Assigning Decision Rights An important element of organizational architecture of a firm is partitioning all tasks within the firm to smaller blocks of tasks assigning them to individuals and or teams. For example: when yo...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Midterm Guide: Free Rider Problem, Risk Aversion, Marginal Cost

Three important factors that limit the use of ownership to resolve incentive problems Employees have limited wealth to buy a significant share of the company Uncontrollable random events and employee risk aversion toward...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Midterm Guide: W. M. Keck Observatory, Opportunism, Horizon Problem

In formativeness Principle states that improvement in the precision of measuring employees effort by incorporating more information of employees effort reduces the cost of inefficient risk sharing and leads to a more effic...

Economics
ECON 308
Tom K. Lee
ECON 308 Study Guide - Midterm Guide: Marginal Revenue Productivity Theory Of Wages, Monopoly, Marginal Revenue

Attracting and retaining qualified employees In a perfectly competitive labor markets, a competitive firm will hire workers until wage equals to their value marginal product of labor, and a monopolistic firm will hire work...

Economics
ECON 308
Tom K. Lee
ECON 308 Midterm: Midterm 2 Study Guide Part 4

Benefits of U form organization It promotes functional expertise (For example: each member has a PhD or many years in their field) It incurs lower costs to recruit, retain and evaluate functional members (For example: wh...

Economics
ECON 308
Tom K. Lee

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