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Q1 :
The meaning of full unemployment is the situation in the economy where all available resources are employed to produce goods and services. Then, the meaning of unemployment rate is a percentage of the labour force who are unemployed and are actively seeking jobs. After that, the meaning of labor force is all persons aged 15 to 64 who are employed or actively seeking employment.

Q2 :
Type of unemployment is strutural unemployment because structural unemployment refers to a mismatch between the job available and the skill levels of the unemployment. One causes of structural unemployment is technological advances in an industry. That happen in manufacturing.

Q3 :
The policy is fiscal policy. One more way that can be used to deal with the unemployment problem is training and technical education because more training and education should be provided for individuals who have difficulties  securing a job when individuals upragde their skills and increase their knowledge, they will be able to hind job easily. For example, unemployed graduates are given free short courses to learn computer skills and language.

Q4 :
The increasing growth of the knowledge economy is a part of larger shift away from production of tangible goods in developed countries towards intangible of informational goods as well as services. An example of an informational good is the app on your smart phone or new video game for your gaming console.

Q5 :
By using lowering the interest rate. Means it will reduce the level of saving and increase the purchase of goods and services from the public. For example,  a reduction of interest rate on fixed deposits from 10% to 4% , will result in consumers saving less and spending more.

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See Hong Yee(mc170604333)Group 5 from section 3.

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See Hong Yee(mc170604333)Group 5 from section 3.

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1.How labor quality can influence the productivity level?
-Labor quality can influence the productivity level,as an example,having workers perform specialized labor tasks is one of the factors that can lead to increased productivity. Division of labor can lead to a large increase in efficiency for two key reasons. Allocational efficiency makes the best use of a particular worker's skill. For example, a worker who is good with numbers can do a better job on inventory control than one who is not. Technical efficiency arises from a division of labor by reducing the transition time between tasks. A worker who completes painting a car, for example, does not then have to put down his painting tools and pick up the tools needed to assemble the car, as that job goes to a different worker.

2.What economic growth has done to US families?
-It creates the opportunities impoverished households need to raise their living standards, provides countries with the resources to expand access to basic services, and most important of all,enables citizens to chart their own prosperous futures.

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Prisha Darshni Arasu  (MC170604422) {section 2}

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Prisha Darshni Arasu  (MC170604422) {section 2}

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1. How productivity level among employees can be influenced by the management?

the management should give their employees a positive feedback to increase the positivity in the office.

Besides that, management should praise and reward their employee as recognition of service, effort and achievement.

2. What economic growth has done for US families?
economic growth

has improved the education system

has improved the living style of community

has improved their medical services

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Question 1) How capital investment can ifluence the productivity level?
Ans : When capital investment increases,the productivity level also increases. Capital investment
is used to improve the quality of product that had been produces and the assets of the company.Companies are able to invest in better materials and machinery that increase the quality of products and efficiency of workers to produce more of a product everyday.Other than that, employees are paid better and this will affect them physologically to work better thus increase the productivity level.

Question 2: What economic growth has done for us families?
Normally eonomic growth are measured using the GDP.Here we can see that the gdp had increased from year 1970 to 1990.So , the standard of living of US families had improved.when the economic growth increases with the Gdp, the income for wages will be also increasing.So, a improves living standard can be lived by us families

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*1. How Research & Development can influence the productivity level?*
_R&D is a broad concept that can influence the productivity by doing scientific research,  product development,  innovation in production technique,  and the development of management improvement. R&D also lead to new product and cheaper ways to producing them. R&D can replace worn and aging equipment not just replacing an old one but it upgrade the machine and structures._

*2. What economic growth has done for US families?*
_Economic growth has improved the standard of living. It has increased population growth. It also has increased the labor force participation. Lastly,  It has advanced technology._

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1. How does capital investment influence the productivity level?
Capital investment is mainly what affects the quality of a product. By investing more, the quality of a product is enhanced. Capital investments include materials or machinery that are involved in the production of a product. By increasing the investment in materials, a producer can use good quality materials and hence, produce a product of better quality. Investing in good machinery or technological advancements will ensure more efficient production. Lastly, being able to pay employees better affects them psychologically, which will motivate them to work harder.
2. What has economic growth done to US families?
Economic growth has improved the standard of living. More households own luxury items like colored TVs, microwave ovens and cars. It has encouraged more family time, as working hours have been cut short. It has also increased the population, as the rate of deaths have decreased, while the average lifespan has increased.

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1. What is the difference between monopoly and perfect competition?
(To be drawn in a table)
Monopoly
- Sells a good/service with no close substitute
- Barrier preventing entry of new firms
Perfect Competition
- Sells identical products
- No restrictions for entry of new firms
2. What is the difference between monopolistic and oligopoly?
(To be drawn in a table)
Monopolistic
- Large number of firms compete
- No barriers for firms to enter or exit
Oligopoly
- Small number of firms
- Natural or legal barriers preventing entry of new firms
3. Explain monopolistic.
A large number of firms compete, each firm produces a differentiated product, compete on price, product quality and marketing, firms are free to enter and exit

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Deneshwara (MC170604239) Section 2 - Group 1

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Deneshwara (MC170604239) Section 2 - Group 1

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Q1: How labor quality can influence the productivity level?
Ans: Some of the reasons why poor labor quality impacts the productivity level is due to the inefficiency of the performance by the workers. Some of the workers are not up to the level where they're supposed to be in order to increase the efficiency of work. Therefore, the workers will not be able to function at their best and that results in poor productivity levels.
Q2: What economic growth has done to U.S. families?
Ans: The rapid economic growth in the U.S. has affected the families residing there in a great way. Despite having a higher cost of living, everything else is equally increased to provide ease of living. Also, due to the economic growth, they have lowered the unemployment rates too. Thanks to the advancement of technology, the families are living quite well and also the salary is increased too. Therefore, it's safe to say that it is not impossible to live a fairly decent life in the U.S.

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Q1: How labor quality can influence the productivity level?
Ans:At the point when the work quality isn't great, the production level will drop also on the grounds that the workers are not doing their activity well. Laborers that are under-prepared can't meet the level of limit required of them.Lastly, this will lead to, workers can't perform well
Q2: What economic growth has done to U.S. families?
Ans:The standard of living of US families had improved as the economic growth increase.Economic growth helps in reducing the rate of unemployment. So that,the life of  people stay in US is getting better.

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1.How productivity levels among employees be influenced by managers?
Ans:Management can keep their goals for the employees clear and simple which will help them to focus.

2.What economic growth has done for US families?
Ans:The ability to consume more goods thus enables more job opportunities to be opened.

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Q1: How labor quality can influence the productivity level?
Ans: An increased productivity level also means higher efficiency and is most likely caused by development of new skills due to higher education. Different level of economy due to productive workers working in other countries can influence the productivity level. The labor quality would be low as less-skilled people would be carrying the job in a lesser efficient way. Under trained workers can also negatively affect the productivity level because they are not up to the job level nor the capacity needed. Thus, labor cannot perform at high peak and affects the productivity level.

Q2: What economic growth has done to U.S. families?
Ans: The living standard has increased along with the population growth. The US families' expenses has also increased, also adding the increase of the expenses, migration rate, and labor force participation. The climate/temperature has increased, and lastly technology has been advanced.

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Q1: How productivity level among employees can be influenced by the management?
Ans: When all the employees work at their best level, all works can be done on time as being targeted. Thus, management can operate smoothly.
Q2: What economic growth has done for US families?
Ans: As when the economy of a country grow well, their resident's life will improve in many aspects. Economic growth helps in reducing the rate of unemployment. When they all have a job means that they will receive income (money). By using that money they can buy anything to fulfil their unlimited needs and wants. But it also can reduce the amount of quality time with family as they need to work overtime to get ahigher salary.

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Q1: How labor quality can influence the productivity level?
Ans: The high efficiency in work is caused by development of new skills due to higher education. When the labor quality is not good, the productivity level will drop as well because the workers are not doing their job well. The different level of economy in a country could be effected by the best workers work at other countries. Workers that are under-trained cannot meet the level of capacity needed of them. Hence, labor cannot perform at its peak.

Q2:  What economic growth has done to US families?
Ans: The country's expenses increased. The level of migration also increased. Generally, life for the people in US gets better. The population growth also increased. Due to the longer life span and increase in population, the climate also becomes hotter. The labor force participation increases as well.

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Luven Daran - MC120604766 Group 3(Section 2)

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Luven Daran - MC120604766 Group 3(Section 2)

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Q1.How capital investment can influence the productivity level?
Ans-When capital investment increases,the productivity level also increases.Capital investment is used to improve the quality of product that been produced.Companies are able to invest in better materials and machiniary that increases the quality of the product and afficiency of workers to produce more of a product everyday.Other than that,employees are paid better and this affects them psychologically to work better.
Q2.What economic growth has done for US families
Ans.The standard of living of US families had improved as the economic growth increase.As we know,the population in US has increases rapidly.The technology are more advance and it being used in many ways.

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Q1 - How productivity level among employees can be influenced by the management ?
ans -  Management can keep their goals for their employees to stay clear and focused. Managements should let more suitable seniors to coach their juniors so they can adapt quicker.

Q2 - What economic growth has done for us families ?
ans - Economic growth have increase our employment rates and improved many families lives.

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Q1. How capital investment can influence the productivity level?
Ans: Capital investment is the spending of saved money on capital goods. Capital goods include assets such as machines, computers, vechicles, factories, tools and other productive equipment. When capital investment increases, the productivity level also increase.
Q2. What economic growth has done for US families?
Ans: Standard living of US families had improved as the economic growth increase. It improved health and education. It also offer more job opportunities, reduces the work and able to access the technologies.

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Ques 1 - How productivity level among employees can be influenced by the managemen
Ans - Management can keep their goals for their employees clear and focus. Management should appoint suitable seniors to coach other employees.
Ques 2 - What economic growth has done for U.S families?
Ans - The ability to consume more goods. It will also increases the job opportunities.

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Q1: How capital investment can influence the productivity level?
A: Capital investment is spending saved money on capital goods which includes asset such as factories, machines, computers which in turns increases the productivity level. As the number or quality of the asset grow, the easier it is to perform a task and hence raising the productivity level.
Q2: What economic growth has done for U.S families?
A: Generally, the economic growth improves the quality of life. It increases the life expectancy, reduces work time, offering more job opportunities and make technologies accessible to families in the U.S.

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Q1. Generally, why monopolies do not bother advertising?
Ans: Because firms in perfectly competitive markets know their products are identical and also there is no competition.
Q2. What  is price leadership?
Ans: Price leadership is the setting of prices in a market by a dominant company, which is followed by others in the same market.

Q3. What type of oligopoly's product that we have?
Ans: Laptop and mobile phone.

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Q1 . What are the two types market structure  and definition for each market structure?
Q2. What  are the major differences between monopoly and oligopoly?
Q3. What is non-price competition?

Ans: Q1. Monopoly. A market with many producers and relatively low barriers, their product are similar but not identical.
Oligopoly. A market that has a high barrier to entry, and is controlled by a few large companies.
Q2. Monopoly and Oligopoly are two of them, where in monopoly can be seen for those products which do not have competition, while oligopoly can be observed for the items with stiff competition.
Q3. Competition in which two or more producers used such factors as packing, delivery, or customer service rather than price to increase demand of their product

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Q1. What is oligopoly?
Ans: A market that has a high barrier to entry, and is controlled by a few large companies.
Q2. What is the four type of market structure ?
Ans: The four type of market structure is Perfect competition, Monopolistic competition, Oligopoly and Monopoly.
Q3. How do customers can differentiate products in monopolistic competition?
Ans: Customers can differentiate products in monopolistic competition such as packaging, design, labelling, advertising and brand names.

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Q1: Define and give examples of non price competition
Q2: Explain the payoff matrix
Q3: Define and give example of price leadership
A1: a form of competition in which two or more producers use such factors as packaging, delivery, or customer service rather than price to increase demand for their products.
A2: A payoff matrix is a tool that is used to simplify all of the possible outcomes of a strategic decision
A3: the setting of prices in a market by a dominant company, which is followed by others in the same market.