Philippines Economic Efficiency: According to a survey by the Switzerland-based Institure for Management Development (IMD)‚ Philippines strength is on the quality of human resources Based on a statistical data‚ Philippines vanted: 1st in terms of unit labor costs in manufacturing 1st in terms of availability of skilled labor 3rd for competent managers 4th in terms of skills in finance This is manifested in the fact that OFW revenues hold a major impact on Philippines’ economy Eqaulity of
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clothing and shelter for its people. All societies have something else in common. They have an economic system or an organized way of providing for the wants and needs of their people. The way in which these decisions are made will determine the type of economic system. There are three major kinds of economic systems: traditional‚ command and market. In a society with a traditional economy nearly all economic activity is the result of ritual and custom. Habit and custom also prescribe most social behaviour
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Are you struggling with a child who is disrespectful‚ obnoxious‚ or constantly challenges you? Are you frustrated and exhausted from arguing constantly and just want to figure out how to have peace in your home? Trust me‚ I know the feeling. All children behave badly from time to time. But‚ when defiance‚ hostility and refusal to comply are a constant behavior from your child (as it is in my home) that affects the entire family‚ you’ll know it requires a more serious intervention. As I’ve learned
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How To Effectively Treat A Sprained Ankle By Dr. Ben Kim on December 22‚ 2004 • Natural Health Solutions For years‚ the standard protocol for treating a sprained ankle has been the R.I.C.E. method - Rest‚ Ice‚ Compression‚ and Elevation. While this protocol usually prevents further damage and allows gradual healing of a sprained joint‚ I have found that people recover more quickly and effectively when they follow the following recommendations: 1. Avoid wrapping or compressing the joint. Often
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The four functions of an economic system are what to produce‚ how much to produce‚ how to produce and whom to distribute to. The market economy is one that is controlled by the people and there is little government intervention. It is also known as a free enterprise economy. The planned economy is one that is controlled by the government and there is a lot of government intervention into the way in which the economy runs. They both try and solve the economic problem of trying to satisfy mans unlimited
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efficient resource allocation refers to an economy ’s ability to meet its obligations in ensuring that all social and economic objectives are met without waste‚ for example to allocate resources so that they are distributed efficiently to improve the standard or living. This is the only way that we can ensure that we will be able to maximize the number of goods and services that we are able to provide. In addition‚ we will also be more likely to guarantee the long term availability of the resources that
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Name: Puwanart Dhammakulthorn Class: Economics 412 Date: 18/05/14 Assignment: Chapter 1‚ Section1‚ AssessmentQuestion1-5 1. Explain the relationship between the terms in each of these pairs: A . Wants & Scarcity - We are all have want but also we have limited resource So that when scarcity exist we have unlimited want but we have limited resource. B . Consumer & Producer – Consumer buy things that producer produce and producer get the money from consumer to produce more product. C . Factor
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Best economic system You could make arguments for any of these but I think history has show us pretty clearly that mixed types that lean heavily toward capitalism are Superior at creating wealth for its people. By the way this is a bit of a trick because all economic systems are mixed. For example‚ in America‚ a "capitalist country" our education system is pure socialism--That’s why it doesn’t work like it should. So you might come to the conclusion that if we made a country that were pure capitalism
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An economic system is a pattern of organisation which is aimed at solving the three central questions. These questions are: What should be produced? How should it be produced? For whom should it be produced? There are four systems that can be implemented in a country to solve the central questions‚ traditional system‚ command system‚ market system and mixed system. The most popular systems are the market and mixed system‚ however‚ there are still some countries‚ although very few‚ that follow a communist
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with the use of IT‚ there are many tools‚ technologies and systems have been produced and invented. In the modern world‚ time is short so if there are many processes taken place at same time within a place there is a need for integration of all the processes‚ creation of paperless-environment also ensures efficient task management. Nowadays all the businesses are shifting to computer based system. The purpose to having a computer based system is‚ it helps to increase the market share and it’s very easy
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