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PM101 Business Economics Level 4

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  • Course Code: PM101
  • Course Title: PM101 Business Economics Level 4
  • University: Harvard University
  • Country: UK

Global oil prices have fallen sharply over the past years, leading to significant revenue shortfalls in many energy exporting nations, while consumers in many importing countries are likely to have to pay less to heat their homes or drive their cars.

Question:

How oil prices affect the Aggregate Demand and Aggregate Supply S of an economy?

1) The petrol exporting nations

2) Petrol importing nations

Learning Outcomes:

a) Identify the nature of resource cost structure and the practical significance of different costs.

b) Explain the factors influencing optimum size and the significance of demand and supply relationships.

c) Demonstrate an understanding of the relevance and limitations of economic theory to management decisions.

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