Definitions; Basic economic problem – Capital capital goods‚ or real capital are those already-produced durable goods that are used in production of goods or services. Command economy – economy where supply and price are regulated by the government rather than market forces Division of labour - Division of labour is the specialization of cooperative labour in specific‚ circumscribed tasks and like roles Enterprise- simply another name for a business. Free market economy - is an economy in
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10:00 10:50 MARMARA UNIVERSITY DEPARTMENT OF ECONOMICS 2013 - 2014 ACADEMIC YEAR SPRING SEMESTER FIRST YEAR 11:00 12:00 13:00 11:50 12:50 13:50 MONDAY SOC 1002 SOCIOLOGY Dr. Zeynep BEŞPINAR A106 TUESDAY 14:00 14:50 15:00 15:50 ECON 1006 RESEARCH METHODS IN ECONOMICS Prof.Dr. Fatma DOĞRUEL A106 ACC 1002 FINANCIAL ACCOUNTING Asst. Prof. Müge SALTOĞLU A106 WEDNESDAY ECON 1002 INTRO. TO ECONOMICS II Prof. Nesrin SUNGUR ÇAKMAK A106 THURSDAY
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Introduction Business environment is the combination of internal and external factors that influence a company ’s operating situation. The business environment can include factors such as clients and suppliers‚ its competition and owners‚ improvements in technology‚ laws and government activities and market‚ social and economic trends. Environmental forces of political‚ economic‚ social‚ and technological factors. These factors are outside the control of the business. The business can’t do much
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Macro environment is the external and uncontrollable factors that influence a company’s or product’s development. Billabong must know the value of each of the macro environment factors; such as‚ economic‚ demographics ‚ and lifestyle‚ technology and natural forces. Before companies‚ or in our case Billabong‚ produce a new products‚ they should study each macro environment force carefully. Each force have its effects on the market. Economic forces affect the consumer buying power and spending
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ECONOMICS CHAPTER 1 ECONOMIC WAY OF THINKING SCARE RESOURCES WEALTH OF THE NATIONS ECONOMICS: ADAM SMITH STAR CITY Scarcity Scarcity is the basic and central economic problem confronting every society. It is the heart of the study of economics and the reason behind its establishment. Authors have defined scarcity in various way some if which are complexly stated. One author defines scarcity as a commodity or service being in short supply‚ relatives to its demand (Kapur
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ECONOMICS conimists- 16th and 17th centuries. hysiocrats (farmers) ercantalists (traders) Father of Economics/ Father of the classical school of economic thought- Adam Smith (In 1776‚ he wrote ’An enquiry into the nature and causes of the Wealth of Nations’) According to Smith‚ self interest was an invisible hand which would work for the common benefit of the community. The Great Depression of 1929 was a phase in which supply exceeded demand. John Maynard Keynes (a British economist)
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and foremost‚ both of these terms mentioned are sub-categories of economics itself. As the names of ‘micro’ and ‘macro’ imply‚ microeconomics facilitates decisions of smaller business sectors‚ and macroeconomics focuses on entire economies and industries. These two economies are mutually dependent‚ and together‚ they develop the strategy for the overall growth of an organization. They are the two most important fields in economics‚ and are necessary for the rise in the economy. Microeconomics focuses
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DEPENDENCY THEORY: - Economic development theorists over the last few centuries have developed models for explaining the “undeveloped-ness” of countries in the third world countries. From Durkheim to the International Monetary Fund (IMF)‚ we have‚ time after time‚ come to witness the rise and fall of development theories and their explanations for the predicament that many poor countries face. Dependency theory has (more so than others) lasted a great deal of time in the framework of the international
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John Hicks "An economy consists of nothing else but an enormous cooperation of workers or manufacturer to make things and do things which clients want." The Vital Functions of an Economy:- Production‚ consumption and growth are vital factors of economics. Economies might differ in the organization but all perform these three functions which are discussed below. 1. Productions:- The First vital process of an economy is manufacture which must go on incessantly. "Production comprises any action‚ and
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Investment within a country can be seen as a vital component in terms of promoting economic prosperity. This essay is going to outline the importance of investment in terms of current and future economic activity by examining the effect of investment on growth and employment. The importance of the ability of the South African government to differentiate between private and public investment will be addressed by the use of a graph illustrating the investment rates of the private and public sectors
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