Define

1.Economic growth: in the short run, an increase in real GDP,and in the long run,an increase in productive capacity, that is , in the maximum output that the economy can produce.
2.Unemployment: a situation where people are out of work but are willing and able to work.
3.Labour force: the people who are employed and unemloyed, that is ,those who are economically active.
4.Economically inactive: people of working age who are neither employed nor unemployed..
5.Balance of payments: a record of money flows coming in and going out of a country.
6.Elastic: responsive to change in market conditions.
7.Inflation rate: the percentage increase in the price lever over a period of time.
8.Sustainable economic growth: economic growth that can continue over time and does not endanger future generations' ability to expand productive capacity.
9.Trend growth: the expected increase in potential output over time.It is a measure of how fast the economy can grow without generating inflation.
10.Full employment: a situation where those wanting and able to work can find employment at the going wage rate.
11.Current account deficit: when more is leaving the country than entering it, as result of sales of its exports, income and current transfers from abroad being less than imports and income and current transfers going abroad.
12.Hyperinflation: an inflation rate above 50 per cent.
13.Nominal GDP: output measured in current prices and so not adjusted for inflation.
14.Labour productivity: output per worker hour.
15.Informal economy : economic activity that is not recorded or registered with the authorities in order to avoid paying tax or complying with regulations, or because the activity is illegal.
16.Economy of scale: the advantage of producing on large scale, in the form of lower long-run average cost.
17.Unemployment rate: The percentage of the labour force who are out of work.

The unemployed x 100%
________________
labour force

18.Labour force survey: a measure of unemployment based on a survey using the ILO definition of unemployment.
19.International labour organization (ILO): a member organization of the United Nations that collects statistics on labour market conditions and seeks to improve working conditions.
20.Claimant count: A measure of unemployment that includes those receiving unemployment-rated benefits.
21.Consumers prices index: a measure of changes in the price of a representative basket of consumer goods and services. Differs from the retail prices index (RPI) in methodology and coverage...

Happy surprise

I can't believe it...I got 30 marks in economic test and I am a fourth in the test equal with Sairan ...No one can't image that happened...Seriously, it's just lucky because the test is all of things which I studied 2 days ago ...It seemed geography test, so I can do it because I am good in geography...hehehe...It make me have interested for studying economic...If i can or can not move to Mr.Chris group, I don't care...That is enough to show to every people :"I am not useless and idiot"...Taking care every body, I will make more surprises...No one can disregard me ,I will study hard...Let's wait what I can do...=.=

Useless student

Today, I could not concentrate study in business class.When I was studying,I though many thing.It made me can't understand what he was talking about...Haiz...I was like I didn't be in class...When he asked me some question,I felt like i just wake up....I don't know why I was like that...I decide i won't sleep more than 7 hours per day.It will help my brain is worked better...Last night, I slept 10 hours from 3 a.m to near 1 p.m...It made me feel very tired and I didn't want to do anything...It is called "LAZY"...It 's not good ,I 'll change from tomorrow morning...I think it will be better for my studying...haiz...=.=

Calculating inflation and a price index

1.Calculating inflation:
Real GDP= nominal GDP after allowing for inflation.
The inflation rate is the rate of increase in the General price level [The cost of living].This measures using a price index
2.Calculating a price index
*Choose a base year .
*Choose a number of goods and services
To put in the "Basket of goods".[The typical things which an ordinary family buys]
*Calculate the average price of the contents of the basket.
*Average price for the base year will be expressed as the index number 100.
*Calculate data for other years and compare with the base years

we can do anything with a lots money

In the past, we heard: "money can buy anything ,but can't buy love and family"

Nowadays it is different...We can do anything...For example :just two days ago in Wilmington which is outside Los Angeles City ,California State of USA.The father who is lost job killed his wife ,5 his children and himself...Money can destroy 1 family.haizzz...

Rich people who don't need be handsome or they are urgly ,but they can have very beautiful wife or girl friend...Espeacial , some of them are very old ...Money can buy who they like...

Money also make friendship be changed...people can kill their close friend by a stupid reason: a small money ...They can change paper to loss friendship a long time...Money change people's behavior...

Now, I just can see a few people who put feeling and duty is more important than money.Such as:Kaka who don't want to move to Manchester City with big remove money:175 million Euro and big salary:15 million pounds pre year...I like him before but now his actity make me like him more...He cried when his manager and owner of AC MILAN didn't allow him to stay in AC MILAN more...Though this example, we can see the important of money with his manager and owner of club...

Anyways, nowadays we can't do anything if we don't have money.IF we have money , we are their king .If not,we are just a homeless or dog,...in their mind...HAIZ =.=

Toy Rentals For Kids

When we were children, we always required our parents for new toys...It'll be a big money ,if they buy the new one every week...Nowadays, we have a Commercial services which hire out toys,it helps reduce the money buy new toys and their parents can return them when their children become bored with them....It is a good business idea...It helps both of them have benefit:their parents don't need buy new toys with high price and can change;the firm which hire out have profit ...We don't need to have big fund with this idea...We can hire out 1 toys many times,we only clean them after our customers return them....I think we also need big store to keep our product and good washing machine,a few workers...We can find a partner who have good and cheap produce to reduce price...We must tell our customer sigh a contract and pay some deposit to make sure they will return our product or we won't lost if they don't want to return...GOOD BUSINESS IDEA...=.=

Design and make a selection of gloves for football goalkeepers

I think to make a selection of glove for football goalkeeper is difficult.We need many things to do that...Making 1 gloves for 1 need a lot of time and worker....We can't use machine ,so we must hide many workers ...It will make your price is higher than another product,but it is suitable for who want have it.Our products are handmade products so we can sell them like luxury thing..1 more thing make our products have problem is football goalkeepers usually use product of famous brand in the world...We can solve that problem by hiding a famous brand but it will make us spend a big money....Material for our product must be attach special because it is handmade product...We need a good material to produce and making sure after selling ,they won't be corrupted by mistake of producer...We can sell our product in sport shop ,but I think it is better if we advertise our products to our customers:goalkeepers.I think this business idea can be happened but it needs big fund and only famous brand can do that because they have experience and good workers ...=.=

happy lunar new year

In my country, I always have 2 or 3weeks off...Here I just spent 2 days to relax and celebrate,so I didn't post any new entry...It is made Mr.Chris commented to my blog... I am so sorry, but it's a traditional ...I can't do anything different....Today is a very happy and lucky day for me...It is a secret so I can't tell...New year is coming and I am staying here,so stupid...Anyways,good luck every one and have a nice lunar new year...oh yeahhhhhhhhhhhhhh

The Personal Inflation Calculator

My income is low like another Vietnamese students...hahaha...

Mnemonics

FINANCE
F= fixed cost
I= interest rate
N= net profit
A= amplification
N= normal good
C= cash flow
E= enterprise

missing home

It is near lunar new year about 4 days more.Many nights I can't sleep because missing home...It is the first year, I must live far away home in new year...It is so boring and upset...
I know celebrating new year here is a difficult time because new year is just like usual day with them who live here...It is too stupid...This year I can't have good time live together with my family , can't play card and go out with my friends like usual, can't get lucky money... Here I also have Vietnamese friends but they can equal my friends and my family...I must be used to being with it : far away family in new year...Anyways I will try to feel them....MISSING HOME...HAIZZZ

Use leather or fabric to make pen wallets and pencil cases

This idea was had a long time ago...It is not new but we can use it to produce...Leather is not ever old fashion ,it always is a choice of old people or who love solemnity...Fabric is suitable for young people ...Those products have all most customers from old to young,man or woman ;so they have large market...
1.Leather thing: material is quite expensive . We must find a partner who has good quantity to make sure our products are good after finishing....Our product which make buy leather so we can sell them in high quantity shop or luxury ones.We must have good store to keep them because they are easy to corrupt by wet weather....
2.Fabric thing :their material are cheap and easy to find a supplier...They are easier keeping than leather ones...We can supply them to shop or market...The variable cost for them cheap so we can product them easy....
Putting or not pen to wallets and cases are not important...If we put,we can sell pen and have more profit.If we don't put,it doesn't matter. Because customer won't be care,.if they really like our products...

homework 3

BUSINESS _ECONOMIC
1.
B= break-even
U= unemployment
S= service
I= import
N= non- rivalry
E= export
S= supply
S= substitute
2.
E= elastic
C= customer
O= output
N= networking
O= overheating
M= market
I= income
C= credit

Homework one

1.Is Internet Explorer a monopoly?

The famous of windows Internet explorer ,I don't need to say because every one know it...When we buy a new laptop or computer ,most of them have Internet system...Internet explorer is a part of Microsoft ...

It has been use widely web browser since since 1999, attaining a peak of about 95% usage share during 2002 and 2003.

It was though be a monopoly in the part ,but nowadays it meets a competitor is fire fox or some web browser else...They are show new program to improve their product and attract with another one,for example Internet explorer 6 or the newest is Internet Explorer 7...I.E is losing their market and less monopoly than before...
2.How do FireFox compete?

I think to compete I.E ,they have a lot of things to do....I.E is too famous ,all of my friends know I.E but just some of them know FireFox...
The best thing of FireFox is faster than I.E.That the big thing I chose FireFox ,but sometimes I must use I.E to listen music or watch movie online because some websites just allow I.E.Anyways the opposite thing also happen...So I'm using both of
them...hehehe

They can try to have the best security web browser because I.E is having problem with that.The security is the most important thing to user choose product...If they have it,why customers have to choose I.E.

The speed of upload file or something is a thing to think...Users are very angry when they are upload or download something but the connection is interrupted...Improving it will make have more customers.
3.what about Google chrome?


I don't need tell all of information about google because it is too famous ...NO one use Internet don't know it....By any web browser ,we can use google...from I.E to FireFox,...We also use our language to use google because they have separate web site for people from different countries...Google is a wide world,we can search or find anythings we want..It is connected to billion billion web site around the world...You can find which every you want easily and fast...

It is the most useful system of web browser in 21 century.

About competing with FireFox and I.E...It is a difficult to answer because now all of users use Google to search what they need...Anyways it maybe happen in furture ...But I think it is good and don't need change now.We only wait and can't do anything,maybe in furture their owner want to have more income they will change or improve to google change like I.E or FireFox...That time they must learn many thing from I.E and FixeFox because they have experience...A lot of thing will do ,if they want to change...imposible...heheheh