more than advantages. There are some advantages of raising the minimum wage. For instance‚ workers can have a better income and more people will be willing to work as firms raise the salary. In this case‚ raising the minimum wage seems like a good policy to against poverty. However‚ as Romer (2013) points out: “When the minimum wage rises‚ is income redistributed primarily to poor families‚ or do many families higher up the income ladder benefit as well?” If we dig deeper‚ we will easily find out
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secondary data to draw the conclusion. The study found that with this initiative the poorer section of the society will get benefit for their development and growth. Objective of the Paper • Highlight the issue of financial exclusion • Impact on Indian economy of financial inclusion • RBI initiatives & guideline • Scope & challenges of financial inclusion in India • Further suggestion Meaning of Financial Inclusion “The process of ensuring access to appropriate financial products and services
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The South was considered a slave-base economy. Sometimes the South’s economy was considered to be separated from the merchant revolution‚ but this is not entirely true. The north would not have been able to industrialize without the help of Southern cotton‚ or at least not as quickly. Cotton was one of the first industrially produced products and quickly became the most important commodity in the world trade in the nineteenth century. There was a lower number of salves in the North since the Northern
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CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY To be able transform into an industrialize economy; an underdeveloped economy has to be privately and commercially developed. The importance of establishing public enterprises or corporation began during the 19th century with the British telecom in 1884 under the telecommunication act and gained a worldwide support in Britain thereafter. Several nations particularly those in Africa‚ have come to embrace the principle as a way of eliminating
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do occur they can have a devastating effect. A recession or economic downturn is defined as a period is temporary economic decline during in which trade and industrial activity are reduced. Economic recession is generally accompanied by a rise in unemployment‚ high inflation‚ and decline of the housing market. Otherwise known as “The Great Recession‚” the recession in the United States from the year 2007 to 2009 negatively impacted the United States economy by significantly altering the US’s labor
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An economy or economic system consists of the production‚ distribution or trade‚ and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals‚ businesses‚ organizations‚ or governments. Transactions occur when two parties agree to the value or price of the transacted good or service‚ commonly expressed in a certain currency. In the past‚ economic activity was theorized to be bounded by natural resources‚ labor‚ and capital
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References: ^ Megha Bahree (21 September 2009). "Ambassador: Indian Economy Will Grow". Forbes. Fast Lane to the Future‚ Don Belt. National Geographic‚ October‚ 2008.
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27 January 2013 Academic and Study Skills P1A Academic year 2012/2013 Semester 1‚ period 3 The effectiveness of the minimum wage policy as anti-poverty tool 1 Introduction Minimum wage policies are widespread throughout the world. More than 90% of all countries have a minimum wage policy (International Labour Office‚ 2009‚ p. 34). Although the goals of mandating and maintaining a minimum wage‚ such as the reduction of poverty and the creation of income equality‚ are widely accepted
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promoted the development of the market economy in Europe. From the ending of the 19th century‚ the major capitalist countries in Europe and the United States had successively entered the stage of monopoly capitalism from the unrestricted competition of the capitalist stage. In order to get more resources‚ some capitalist countries started twice world wars. After the world war two‚ United Stated became the most powerful country in the world. And the market economy began to be developed in the all world
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Planned Economy: "The social good" In a planned economy‚ the factors of production are owned and managed by the government. Thus the Government decides what to produce‚ how much to produce and for whom to produce. Features: • All resources are owned and managed by the government • No consumer OR producer choice • The market forces can’t set the price for goods or services • Profit is not the main objective‚ the government aims to provide services and goods to everybody • Government decides
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