CAPITAL FORMATION CAPITAL: Capital is defined as a physical reproducible factor of production. FOUR FACTORS OF PRODUCTION: LAND‚ LABOUR‚ CAPITAL & ORGINIZATION LAND Gets Rent==►LABOUR Gets Wages==►CAPITAL Gets Interest‚ ==►ORGANIZATION Gets Profit. CAPITAL FORMATION: is the act in which society dose not consume all of its income in day to day expenses but manages to save some of its income for farther investment (Output‚ Yield)Y = Consumption (C) + Saving (S) ==► (Investment) I Y =
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CLASSICAL THEORY -The classical theory of employment is grounded in Say’s Law‚ the classical interest rate mechanism‚ and downwardly flexible prices and wages. -The aggregate supply curve is vertical at the full-employment level of output; the aggregate demand curve is stable if the money supply is constant. -Government macroeconomic policies are unnecessary and counter-productive; automatic‚ built-in mechanisms provide for full-employment output. KEYNESIAN THEORY -Keynesian
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From the article "Racial formations"‚ Micheal Omi and Howard Winant state that race is social concept instead of biological concept. They explain that everyone views race differently and how race influence the society‚ how it is classified. The important concern the order of race is force by society‚ politics and economy. They explain that race is social concept; it is process of racial formation. Society determines the meaning of race and it is a process during which racial identity is created
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Notes on Lyotard ’Jean-François Lyotard‚ Ph.D.‚ (b. 1924 in Versailles) became one of the world’s foremost philosophers‚ noted for his analysis of the impact of postmodernity on the human condition. A key figure in contemporary French philosophy‚ his interdisciplinary discourse covers a wide variety of topics including knowledge and communication; the human body; modernist and postmodern art‚ literature‚ and music; film; time and memory; space‚ the city‚ and landscape; the sublime; and the relation
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The formation of Malaysia Malaysia was formed in 1963 out of a number of former British colonies: the Federation of Malaya (comprising 11 states)‚ which had achieved independence in 1957; Singapore‚ which had been self-governing since 1959; and two territories in northwestern Borneo‚ Sarawak and Sabah (then known as North Borneo)‚ which by 1960 were well advanced on the road to independence. The newly elected government of Singapore was in favour of merging with Malaya‚ and in 1961 Tunku Abdul
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1 FORMATION AND INCORPORATION OF COMPANIES L Meaning of Company L Advantages of Certificate of Incorporation L Characteristics or Essential Features of a Company L Effect of Certificate of Incorporation L Floatation of Company L Types of Companies • Chartered Companies L Certificate of Commencement of Business • Statutory Companies L Memorandum of Association • Registered Companies L Contents of Memorandum of Association L Introduction Companies Limited by
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construction as the industry relies on the formation of contracts for business agreements. “Contracts are based on the idea of a bargain‚ where each side must put something into the bargain. A contract may be defined as ’an agreement which is binding on the parties’” (Galbraith‚ 1998‚ pg78). There are a number of key components which must be present in the formation of such contracts. Firstly‚ there needs to be an initial offer made by one party for the formation to begin. “An offer exists when one
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life lessons is shown in this quote. This idea was an ever-present theme in the book‚ particularly from Aibileen’s side of the story. After raising and coming to love 19 babies‚ only one of which was her own‚ in her lifetime Aibileen has made non prejudice and equality a big point of childhood upbringing. Most of the maids‚ including Aibileen‚ find it hard to understand that they take care of and love on these children their entire childhood‚ but the children still end up treating the help as their
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……………………… BARAZA A. DANIEL E37/1625/2011 ……………………… LUMONYE FAITH JUMA E35S/11325/2010 ……………………… DOUGHLAS NYAKUNDI E37/1509/2011 ……………………… FREDDICK ACHACH E37/1614/2011 ……………………… Rostow’s five stages of Development This theory was written by Walt Whiteman Rostow. In 1960 he suggested countries go through fairly linearly and set out number of conditions that were likely to occur in investment‚ consumption and social trends at each state. He also said that a country undergoes
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WSGPR 7/7/03 4:33 PM Page i Managerial Economics: Theory and Practice WSGPR 7/7/03 4:33 PM Page ii WSGPR 7/7/03 4:33 PM Page iii Managerial Economics: Theory and Practice Edited by Thomas J. Webster Department of Finance & Economics Lubin School of Business Pace University Study Guide Amsterdam Boston Heidelberg London New York Oxford San Diego San Francisco Singapore Sydney Tokyo Paris WSGPR 7/7/03 4:33 PM Page iv WSGPR 7/7/03 4:33 PM Page v Table of Contents
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