A) List and explain the three reasons Adam Smith said productivity increases with specialization. Who was Adam Smith? a. Adam Smith is writer. He wrote a book titled “An Inquiry into the Nature and Causes of the Wealth of Nations.”+ b. Three Reasons i) Repetition • The more times that an employee performs a task‚ the more capable the employee are at the task. ii) Continuity • A specialized employee doesn’t spend time exchange from one task to another. iii) Innovation • A specialized employee
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Drama 88 Day 4 The Gap between Developed and Developing Countries The main topic of this week’s reading that stood out to me was The Global Table where Foer shows a glimpse of the status of the all the countries in the world. Foer says that if all the countries were to sit on a table with a seat of nine‚ two would be Chinese‚ two Indians‚ a fifth would be the other countries in Northeast‚ South‚ and Central Asia‚ a sixth would be the nations of Southeast Asia and Oceana‚ a seventh would be sub-Saharan
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The Pay Gap Needs to Stop Imagine getting treated less than an equal‚ just because you are a woman. Should men honestly receive a higher wage than women for doing the same job? On average a woman earns 77 cents to every dollar a man makes (Boushey‚ Arons‚ and Smith). A woman gets paid less to work just as hard as a man if not harder. This is not fair. Men and women should receive equal pay. In the U.S. there are about 10 million single. These mothers struggle to make end meet‚ due to the facts that
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The Gap Inc. business strategy is a combined of cost leader and differentiation. The company provides a highly competitive price with some differentiated fashion features. As a cost leader‚ Gap supplies the similar products at a lower price‚ uses the simple design‚ and applies a tight cost control system to its store space. At the same time‚ Gap also equipped with some unique product features. The company has variety products designed for different group of target customer‚ like GapKids and Banana
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women’s median annual paychecks reflected only 78 cents for every $1.00 earned by men.”( Women Deserve Equal Pay‚ 1) These statistics demonstrate that women earn less than man and there is an injustice wage gap within women and men. Unfortunately‚ this situation does not change in 44 years and wage gap just close 19 cent. Another important reason is that people especially employers argued that for the most jobs‚ masculinity has more prestige than feminity. “Social psychologists have demonstrated repeatedly
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The Causes of the Gap Between Developed and Undeveloped Countries Yusuf Enes Fırat 010130552 The size of the gap between developed and undeveloped countries is one of the greatest problems world is facing today. But what is the term of “gap” in this statement? In fact‚ there are lots of criterions determine the gap‚ it is hard to explain it with one definition. We live in
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Modern day society has been influenced by the clear gap between now and the Middle Ages. The Renaissance movement has affected the world’s techniques by enhancing the way humans live. Due to the new evolving movement of looking to the past for a better future in society‚ this caused a whole new generation that would drastically affect humankind. Therefore it is clear to say that the Renaissance movement is characterized in an evolutionary manner because of: the new way of thought‚ the way artists
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Question 1: The Rich and the Poor The term poor refers to the people who do not have enough wealth to feed and cloth their families‚ on the contrary the term rich refers to the people who possess wealth and are capable of buying the luxuries for them. Poverty exists everywhere‚ and‚ unfortunately‚ in the third world countries its magnitude is substantial. Every year‚ millions of people in underdeveloped countries die because of starvation or various diseases. (Sen and Foster‚ 2007) It is common
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How rich is rich in the Philippines? June 21‚ 2010 http://www.pinoymoneytalk.com/socioeconomic-class-philippines-rich/ Who are considered “rich” in the Philippines? For starters‚ you’re “rich” if you belong to the list of the Top 10 Richest Filipinos. However‚ even if your net worth does not run into billions of pesos yet‚ you may still be considered “rich” as per the definition of the National Statical Coordination Board (NSCB). Based on NSCB computations using the Family Income and Expenditure
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trucks for boys or dolls for girls‚ or whether it be the colors of clothes. This automatic gender identification tends to pigeon hole a person a certain sex into certain career and life choices. The human choice model is used to explain the wage gap between men and women. It explores the idea that we are able to choose our own jobs‚ knowing the rewards and consequences. However‚ it fails to mention how young people are influenced to work certain jobs‚ for example; men often undertake apprenticeships
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