1.The Role of entrepreneurship in economic development of a country An entrepreneur can be regarded as a person‚ who has the initiative skill and motivation to set up a business or enterprise of his own and who always looks for high achievements. He is the catalyst for social change and works for the common good. They look for opportunities‚ identify them and seize them mainly for economic gains. An action oriented entrepreneur is a highly calculative individual who is always willing to undertake
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Economics and Managerial Economics Economics may be defined as a branch of knowledge dealing with allocation of scarce resources among competing ends. Managerial Economics may be defined as application of eco for problem solving at corporate level. Factors affecting Managerial decision Often only pure logic does not contribute to decision making Human Factor Human behavioral considerations often influences a manager into compromising or moderation a decision which would otherwise have made
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1. Distinguish between Micro economics and Macro economics. Microeconomics may be defined as that branch of economic analysis‚ which studies the economic behavior of the individual unit‚ maybe a person‚ a particular household‚ or a particular firm. It is a study of one particular unit rather than all the units combined together. In microeconomics‚ we study the various units of the economy‚ how they function and how they reach their equilibrium. An important tool used in that of microeconomics is
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1. What do you understand by Managerial Economics? Give Definition and meaning of Managerial Economics. Economics is the branch of Knowledge that deals with how the scarce resources can be used to produce valuable goods and services and distribute them efficiently among different classes of people in the society. What is Managerial Economics? Douglas - “Managerial economics is the application of economic principles and methodologies to the decision-making process within the firm or organization
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01.05.2003 Social Studies Japanese military‚ social‚ political and economic reforms in the Meiji restoration Military: In 1872 the Japanese military started to use conscription. This is same as drafting in the U.S.A. All conscripts had to serve a three year period in military service‚ after which they were put to reserves for four years. This system was introduced by Yamagata Aritomo‚ and the next year this same man set up the Japanese Imperial army. He favored and used the army style of Germany
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Britain was in a state of serious depression after the American War‚ and therefore needed reform and change. Pitt recognized the countries requirements and attempted to bring about several different types of reforms to all aspects of British life. His reforms had varied success due to many different factors‚ such as the public opinion‚ the desires of members in parliament‚ and also the king. Some of Pitt’s reforms proved very successful in bringing Britain back in to a prosperous position after the American
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industry? Ans: Construction is a secondary industry because this industry assembles manufactured parts into the final product and is building something from raw materials such as a ship. It is also constructing something from components. 3. How does a person providing a direct service differ from one providing a commercial service? Ans: A person providing a direct service provides that service directly to the person needing that service and these services are of personal nature. The people
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Mexico: Economic and Social Issues After WWII‚ Mexico’s economy‚ much like the other countries involved‚ got better. They went from an agricultural economy to an industrial economy. After the war‚ Mexico also went from a closed economy to an open economy. In 1992 Mexico introduced NAFTA‚ North America Free Trade Agreement. Their economy slowly but surely got a lot better. Also‚ while the economy was getting better‚ so were the social issues. The population grew significantly‚ and the quality
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JOMO KENYATTA UNIVERSITY OF AGRICULTURE AND TECHNOLOGY SCHOOL: SHRD DEPT: EPD COURSE: BPS UNIT: TRANSPORT ECONOMICS PRESENTER: JULIUS GIKONYO REG No: HD211-5143/2011 LEC: EVANS SANDE Introduction. Transport and its related services is a catalyst for economic growth‚ and direct and indirect job creation in South Africa. The provision of affordable‚ safe and reliable transportation of goods and people is critical to the development of the country. Government boosted transport infrastructure
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This paper argues on both theoretical and empirical grounds that‚ beyond a certain point‚ there is an unavoidable conflictbetween economic development (generally taken to mean ’materialeconomic growth’) and environmental protection. Think for a moment of natural forests‚ grasslands‚ marine estuaries‚ salt marshes‚ and coral reefs; and of arable soils‚ aquifers‚ mineraldeposits‚ petroleum‚ and coal. These are all forms of ’natural capital’ that represent highly-ordered self-producing ecosystemsor
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