08 May 2013

Crash-Course: Econ 1

Define gross domestic product, distinguish it from standard of living, and identify several factors used to measure standard of living.
GDP is the amount of income of an entire region, gross meaning in this case a nation's income at large, domestic referring to national boundary, and product being the created wealth.

Standard of living is the socially and generally accepted quality of living a group of people expect within their society. In discerning a difference between what is needed and what is desired, the standard of living is generally described as an acceptable level of monetary income.

The standard of living fits into the spectrum of acquisition between desire and asceticism.

Outline some specific actions to take if you are a victim of cyberstalking.

Write a letter asking the criminal to stop, document the stalking, call the cops, buy your wife a gun.

Define productivity and discuss the relationship between IT investment and productivity growth.

Productivity: The amount of output produced per unit of input.

If IT investment increases efficiency, the result is multiplied to some extent by the productivity of IT staff.

Define the term social network advertising and briefly discuss several social network advertising strategies.

Social Network Advertising: Advertising using social networks to communicate and promote the benefits of products and services.

Show the product thru all the outlets possible, for as cheaply as possible, to maximize return of investment.