Other Economics Answers

Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.

–Steve Jobs, Co-Founder, Chairman and CEO, Apple

a. From the viewpoint of the entrepreneur, describe different methods of generating/sources

the new ideas for an innovative business?

b. In starting your start up, it is absolutely important to possess funds for doing the business, Considering the fact enlist the different sources of capital for startup’s that would act as source for the funds?

Many of the successful companies that we see today had their humble beginnings as a bootstrapped enterprise. Examples of these include: Dell Computers (DELL), Facebook Inc. (FB), Apple Inc. (AAPL), Clorox Co. (CLX), Coca Cola Co. (KO), etc.” If they can do, so can you. Identify the different types of bootstrapping strategies/ideas that an entrepreneur can map? 

Entrepreneurs have built successful companies by being able to exploit unmet needs in the market.” Considering the situation, describe the competencies that will be needed by entrepreneurs for starting a startup in today’s era

Explain how the changes in technology have contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes? Use practical examples

Do you think demand for gas is price elastic or price inelastic? Explain your

reasoning.

A radio and a cycle together cost ₹1200. If the price of the former rises by 20%, and 

that of the latter by 25%, the two together would cost ₹1460. Find their former prices.

1. What is International Economics?

2. What is the difference between international trade and international finance? (Give examples)

3. Explain what is pattern of trade, by giving examples.

4. What is Balance of payment?