This is only possible with greater consumption of natural resources such as land‚ forest‚ fuels etc. Thus reckless and thoughtless use of these resources would cause their exhaustion and degradation‚ thereby reduce productivity and impede economic growth. As a result our future generations will not get enough resources for their use thus adversely affecting their output‚ income and living standards. So environmental degradation not only affects us but will also have repercussions on our future generations
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Chapter 12 2. What is consumption smoothing? How does insurance help people smooth consumption? When consumption goes from a period of high consumption to a period of low consumption. For example‚ if a person does not save money at all while they work in order to live a high maintenance lifestyle then they suddenly get laid off‚ they must greatly reduce their consumption because they can no longer support their lifestyle. Insurance helps people smooth consumption because it helps them defend against
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COST ANALYSIS OBJECTIVES INTRODUCTION MEANING DEFINITIONS TYPES OF COSTS MONETARY COSTS REAL COSTS OPPORTUNITY COSTS ECONOMIC COSTS ACCOUNTING COSTS INCREMENTAL COSTS SUNK COSTS FUTURE COSTS PRIVATE‚ EXTERNAL AND SOCIAL COSTS FIXED / SUPPLEMENTARY / OVERHEAD COSTS VARIABLE / PRIME COSTS REPLACEMENT COSTS PRODUCTION COSTS SELLING COSTS CONTROLLABLE COSTS DIRECT COSTS INDIRECT COSTS SHORT RUN COSTS CURVES LONG RUN COSTS CURVES OBJECTIVES To understand the meaning of cost. To discuss different types
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CPD1102 What makes a leader? Essay 05/04/2013 What makes a leader? In this Essay I would like to write about strategies which have changed my experience as a previous manager. There are many excellent studies and articles about strategies how to lead and manage a team‚ or make good decisions such as „Why good leaders make bad decision”‚ „Manage your energy‚ not your time”‚ „Managers and leaders: Are they different?” In my own experience the top
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The Witch of Colchis As she was ferried ’cross the River Styx‚ what thoughts too harrowing to contemplate came coursing madly through her consciousness? Her children whom she killed with her own hands as vengeance for their father’s faithlessness‚ ensuring they would not be reared as slaves? The hapless rival she engulfed in flames— a marriage of political convenience kindling blind rapacious jealousy? Her husband’s cousins she enticed to cast a heinous spell of mutilation‚ thinking they’d
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COST ANALYSIS Prepared by: Nebuchadnezzar Rabaya OBJECTIVES To provide a basic understanding of the nature of cost analysis. To give highlights on the importance of cost analysis on any venture. To present a clear overview on various types of costs. Cost Definition: an amount that has to be paid or spent to buy or obtain something. Analysis Definition: is the process of breaking a complex topic or substance into smaller parts to gain a better understanding of it. What is cost analysis
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I have access to clean drinking water every moment of every day‚ food is readily available to me and I have never felt the sting of the cold for longer than a few hours before being warmed in a sufficient and comfortable shelter. Gratification is immediate in my life due to the availability of energy. Public health has created an environment of well being among the general public based on these amenities. However‚ a thought that rarely crossed my mind is what is the cost of my gratification. The
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Cost Accounting Fundamentals Introduction to Cost Accounting Cost accounting is an internal reporting system for an organisation’s own management for decision making. It is the process of accounting for costs. It includes the accounting procedures relating to recording of all incomes and expenditures and the preparation of periodical statements and reports with the object of ascertaining and controlling costs. It is thus the formal mechanism by means of which cost of products or services are
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investments that make today will determine the value of business tomorrow. In order to make long-term investments in new product lines‚ new equipment and other assets‚ managers must know the cost of obtaining funds to acquire these assets. The cost associated with different sources of funds is called the cost of capital. . If the business earns more than its cost of capital‚ the market value of the business will increase. Likewise‚ if returns on long-term investments are below the cost of capital‚ market
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Cost Classifications for Decision-Making. Every decision involves choosing from among at least two alternatives. Only those costs and benefits that differ between alternatives are relevant in making the selection. This concept is explored in greater detail in the chapter on relevant costs. However‚ decision-making contexts crop up from time to time in the text before that chapter‚ so it is a good idea to familiarize students with relevant cost concepts. 1. Differential Costs. A differential cost
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