HNC Business Management Economic Environment Module Leader: Dan O’Hare Essay By: Nichola D. Robinson (21042952) Deadline Date Tuesday 13th November 2012 A. Using economic concepts from the module; identify the key factors from the economic environment that affect an organisation of your choice. B. Evaluate the effect of these factors on the organisation. You should identify a range of relevant factors‚ and concisely ascertain the impact
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sound footing relative to its major East and Southeast Asian neighbors (except Indonesia)‚ which commonly experienced economic contraction‚ especially in the industrial and export sectors. As such‚ this has been suggested as evidence of the country’s newly gained economic resilience. It must be noted‚ however‚ that the Philippines has likewise not experienced the spectacular economic performance of its neighbors in recent times‚ which saw their per capita incomes more than doubling during the past
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into and out of a country resulting from transactions relating to savings investments and speculations. Economic Growth An increase in the capacity of an economy to produce goods and services‚ compared from one period of time to another. Economic growth can be measured in nominal terms‚ which include inflation‚ or in real terms‚ which are adjusted for inflation. Economics growth refers to an increase in the real GDP or GNP per capita in a country in a given period of time. It can
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Naked Economics Assignment After reading the book‚ please complete the following questions for discussion. Your responses must be typed‚ and they will be collected on the first day of class. Chapter 1: The Power of Markets • What are the two basic assumptions that economists make about individuals and firms? • What is the role and significance of prices in the market economy? • What’s so great about a market economy anyway? Market allocation 3 / Assume rational utility-maximizers 6 /
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Tax base > income‚ sales‚ property‚ capital gains/loses What is a good tax system? 1 – distribution of tax burden should be fair > tax equity 2 – tax system should improve the smallest excess burden and should minimize distortions to economic behavior > tax efficiency 3 – administration should be easy and administrative costs should be as low as possible 4 – tax system should be easy to understand and relatively easy to comply with and it should be applied in a non-arbitrary way
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Profit Maximiser MR = MC An industry can be defined from two criteria: - similarity of products - similarity of economic activities A Sport industry can be defined as a cluster of firms that: - produce sport activities - provide products and services - trade and sell products Meeks ‘3-Sector’ Model of the sport industry: Sector #1: Sports Entertainment Sector #2: Sports Products Sector #3: Sports Support Organisations Li‚ Hofacre and Mahoneys ‘2-Sector’ Model of the sport industry:
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Eurasian Union Project announced by the Russian Government‚ you have been asked to submit a report on what form of economic integration it should take to achieve maximum efficiency. Submit your report and prepare a presentation about your findings. Chairman of the Board Eurasian Economic Commission‚ Viktor Khristenko said: “We live in a time of major change. A new global economic architecture is emerging that is set to define development trends for decades to come. The recent crises prompted
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Unit 1 a) Is economics a science? Yes ! The word “Economics” is derived from the Greeks word “Oikonomos” which means to manage the house. So it means the management of a household especially in those matters‚ which are relating to the income and expenses of the family. After sometime‚ the term economy was adopted. Economics is regarded as a Social SCIENCE and not a PURE science like Physics or Chemistry because it uses scientific methods to build theories that can help explain the behaviour
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activities‚ social and economic factors and technological developments. Social or Societary environment of business means all factors which affects business socially . Every business works in a society ‚ so societies ’ different factors like family ‚ educational institutions and religion affects business . Economic dimensions of environment Economic environment refers to the aggregate of the nature of economic system of the country‚ the structural anatomy of the economy to economic policies of the
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seen in sales‚ affecting the company negatively on the whole. However there is no check and balance if low quality raw material is being used. 3. Substitutes No effect 4. Suppliers Imposition of additional taxes or charge of import duty will affect bargaining power of suppliers. 5. Rivalry No effect. Economic Factors: 1. Entrants Rapid growth in inflation poses a threat for new entrants with regard to their survival. They are threatened by increasing interest rates as
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