e tech

• Mail merge


  Combining mail and letters and pre-addressed envelopes or mailing labels for mass mailings from a form letter
• Mail merge


  • Contains fixed text (which is the same in each output document) and variables (which act as placeholders that are replaced by text from the data source)
• How to use mail merge in Microsoft Word

  1. Click on the Mailings tab, and in the Start Mail Merge group, click Start Mail Merge

  2. Click Step-by-Step Mail Merge Wizard

  3. Select your document type (e.g. Letters)

  4. Select the starting document (e.g. Use the current document)

  5. Select recipients (e.g. Create a new list)
• Label generation


  Printing individual addresses to a standard form that Microsoft Word has already preformatted
• Mail merge is most often used to print or email form letters to multiple recipients
• Mail merge is also used to create envelopes or labels in bulk
• Mail merge feature works the same in all modern versions of Microsoft Word: 2010, 2013, and 2016
• When analysing markets, a range of assumptions are made about the rationality of economic agents involved in the transactions
• The Wealth of Nations was written

  1776
• Rational


  (in classical economic theory) economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
• Rational agents will select the choice which presents the highest benefits
• Consumers act rationally by


  Maximising their utility
• Producers act rationally by


  Selling goods/services in a way that maximises their profits
• Workers act rationally by


  Balancing welfare at work with consideration of both pay and benefits
• Governments act rationally by


  Placing the interests of the people they serve first in order to maximise their welfare
• Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
• A firm increases advertising

  Demand curve shifts right
• Marginal utility


  The additional utility (satisfaction) gained from the consumption of an additional product
• If you add up marginal utility for each unit you get total utility
• Demand curve shifting right

  Increases the equilibrium price and quantity