Economic development is the sustained‚ concerted actions of policy makers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital‚ critical infrastructure‚ regional competitiveness‚ environmental sustainability‚ social inclusion‚ health‚ safety‚ literacy‚ and other initiatives. Economic
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Economic order quantity is the order quantity that minimizes total inventory holding costs and ordering costs. It is one of the oldest classical production scheduling models. The framework used to determine this order quantity is also known as Barabas EOQ Model or Barabas Formula. The model was developed by Ford W. Harris in 1913‚ but R. H. Wilson‚ a consultant who applied it extensively‚ is given credit for his in-depth analysis EOQ applies only when demand for a product is constant over the year
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1/2 week on each order. The placement of each order is estimated to require 1 hour of clerical time‚ with a direct cost of $15 per hour plus overhead costs of another $5 per hour. A rough estimate has been made that the annual cost of capital tied up in Computronics’ inventory is 15 percent of the value (measured by purchase cost) of the inventory. Other costs associated with storing and protecting the LCDs in inventory amount to 5 cents per LCD per year. (a) What should the order quantity and reorder
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Development Economics Web Guide‚ Unit 5B The causes of economic growth in developing countries. The significance of economic growth for development · The role of both physical and human capital · Technological progress Examine the sources of economic growth and the extent to which they can be affected by government intervention. 15 Evaluation of the impact of government policies. Factors affecting economic growth in developing countries Keynesian Approaches 1 Savings and Investment There are
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of International Economic Organizations in Promoting Globalization ‘International organizations’‚ the term itself indicates the meaning hidden behind these two words. These are the organizations active across the boundaries of the countries working with an international presence and scope. The international organizations are established for various fields like Social‚ Political‚ Cultural‚ economic and many more. Here‚ we would concentrate specifically on ‘International Economic Organizations’‚ their
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values that underpin sustainable development - interdependence‚ empathy‚ equity‚ personal responsibility and intergenerational justice - are the only foundation upon which any viable vision of a better world can possibly be constructed.” Jonathon Porritt Globalization and sustainability are forces that are in constant competition. In this global game there emerges a clear victor and an inevitable loss. As a political‚ social‚ and economic force‚ globalization has expanded to encompass our global
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1: Understand principles of professional development All companies need to develop a learning culture with work based learning at the heart of it. Continual professional development is a process of life-long learning that meets the needs of clients and enables care workers to expand and fulfil their potential. It is important to continually improve my knowledge and practice in order to remain aware and keep updated in current guidelines‚ legislations and standards related to my sector. In my
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causes of poverty are not exhaustive but limited reflective of priority to Africa’s development. These causes of poverty if positively eradicated can collectively leap the continent to its dream of development that sustains transparent and purposeful leadership. First‚ bad governance and political instability have been laudably stated to be at the core of Africa’s underdevelopment. Corrupt and dictatorial leadership has become a model of character in African nations. There is no auguring the fact that
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Behaviourist approach This approach refers to behaviour being mainly influenced by the environment also by reinforcing rewards for positive behaviour and punishments for negative behaviour. B.F. Skinner investigated Operant Conditioning of voluntary and involuntary behaviour. He explained that behaviour occurs for a reason‚ and the three main behaviour shaping techniques are positive reinforcement‚ negative reinforcement and punishment. Behaviourism has been criticised in the way it under-estimates
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becoming obsessed with the accumulation of possessions and‚ as a consequence‚ becoming slaves to commodities; Commodity fetishism. This resulted‚ they argued‚ in the widening of class divisions. Capitalist society is described by some as protecting freedom and individuality. However‚ it also‚ undeniably‚ encourages self-interest‚ greed and - as Marx argued - an obsession with private property. It is a society whose basis lies in the fundamental need to accumulate property. The people within this society
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