Economics Study Guide: Key Concepts & Definitions
Economics Study Guide
Basic Economic Concepts
1. Economic Growth and the PPF
When economic growth occurs, the Production Possibilities Frontier (PPF) shifts outward.
2. Impact of Resource Loss on the PPF
If a country loses resources, its PPF shifts inward.
3. Market Equilibrium
In a market, equilibrium occurs when the quantity supplied equals the quantity demanded. All other options are incorrect.
4. Scarcity and Choice
Which of the following is true because of scarcity? (Answer depends on the options provided)
Read MoreEconomics Practice Questions: Macroeconomics and Microeconomics
Economics Practice Questions
Macroeconomics
- If the economy experiences an increase in resources, what will happen to the production possibilities frontier (PPF)?
- If a market economy experiences a change in technology, what will happen to the PPF?
- If the price of a good becomes more profitable, what will happen to the supply of that good?
- Which of the following will cause a decrease in the interest rate?
- When an economy experiences a recession, what happens to the unemployment rate?
- Other things being
Sampling Methods in Research: A Comprehensive Guide
UNIT 5: SAMPLING – CONCEPT AND CLASSIFICATION
Population and Sample
Population refers to the entire group you want to gather information about (e.g., individuals, families, households). A sample is a subset of the population selected to represent the whole. Information gathered from the sample is used to make inferences about the entire population. The process of selecting a sample is called sampling and depends on the chosen research technique.
A sample must be representative, meaning the attributes
Read MoreWorking Time and Salary Regulations: A Comprehensive Guide
Working Time Regulations
General Working Hours
Working time is the period during which an employee performs their job duties. The standard working week is typically 40 hours. For those under 18, the maximum is 8 hours per day with 2 days of uninterrupted weekly rest.
Standards Management
- Maximum daily working time is generally 9 hours.
- Breaks between work sessions are mandatory.
- Uneven distribution of working hours may be possible with proper agreements.
Irregular Distribution of the Day
The irregular
Read MoreUnderstanding the Parabola: Equations, Properties, and Examples
Parabola as a Geometric Locus
The parabola is defined as the geometric locus of a point that moves in a plane such that its distance from a fixed line (the directrix) is equal to its distance from a fixed point (the focus, denoted by F).
The following figure illustrates the elements of a parabola:
Where:
- F is the focus of the parabola.
- V is the vertex of the parabola.
- The segment represented by this image
is the directrix. - The segment represented by this image
is the latus rectum (LR). - The segment represented
Equations of the Circumference: Canonical, General & Polar Forms
Circumference as a Geometric Locus
A geometric locus is a set of points that satisfy specific geometric conditions. The geometric locus of the circumference is the set of all points that are equidistant (a distance of r) from a fixed point called the center.
Example: Finding the Geometric Locus
Determine the geometric locus that describes a point moving a distance of 4 units around a fixed point with coordinates (0,0).
Steps
- Identify the fixed point: The fixed point is (0, 0) on the plane.
- Draw points: