1. What is the ‘economic problem’? The fundamental economic problem is related to the issue of scarcity. Scarcity means that resources are limited and short in supply in the world (e.g. diamond). Because of limited resources and unlimited demands‚ society needs to decide how much to produce and distribute these relatively scarce resources. The basic economic problem can be define as what to produce‚ how much to produce and for whom to produce. Some countries are lucky to have great natural resources
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Executive Summary: Procter and Gamble (P&G) is a business idea developed by William Procter and James Gamble. The company was established in the year 1837. Initially the company‚ engaged in making candles and soaps. However‚ later the company started producing consumer goods such as beauty care‚ health care‚ baby products‚ food and beverages etc. The company suffered with several organizational and cultural issues between 1999 and 2000. The case study on P&G‚ suggests that the period of 1999 and
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On Developing Students’ Communicative Competence Lou Ruijuan Most Chinese students‚ especially those with low foreign language levels‚ are used to memorizing the language but reluctant to speak in the target language. They may be familiar with the sentence patterns but do not know how to start and end a conversation and how to express themselves in a particular situation. So it is a main task for a teacher to develop students’ communicative competence. I. Obstacles in Communication While it is difficult
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Kelsea Shick Economics October 5‚ 2010 An economic system consists of production‚ distribution/consumption of goods and services of an economy (Grolier). Without any of the above an economy would not become as industrialized and successful as either the
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ECON 310 06 June 2014 Project 1: Construction and Microeconomics With a college degree in the study of Construction Management‚ an understanding of how the construction industry impacts the economics of a country and or the world‚ is essential knowledge for practitioners within this industry. When a construction project is in operation the easiest for all to see at the work site is the amount of people participating in the development. Seldom does anyone take the time to understand the total
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the Arab Countries AlaaIhsan Salloom Research Scholar in the Department of International Economy‚ Jilin University 2699‚ Qian Jin Da Jie‚ Changchun‚ P. R. China E-mail: masma31qrson@yahoo.com Yibing Ding Professor of International Economics‚ School of Economics‚ Jilin University 2699‚ Qian Jin Da Jie‚ Changchun‚ P. R. China E-mail: dingyb@jlu.edu.cn Abstract It is difficult to find an economy in the world that was not affected by the (2008-09) global financial crisis‚ even indirectly. No
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3.2 Internal growth strategies refer to the growth within the organization by using internal resources. It focuses on developing new products‚ increasing efficiency‚ hiring the right people and better marketing. Should Vodacom want to expand into Africa to sustain profitability it can use its can consider its internal growth Vodacom can now then focus on what it already had this includes the quality it gives to their customers this including its latest development of LTE which is fourth generation
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Economic Economics is the science that studies how people and societies make decisions that allow them to get the most out of their limited resources. Because every country‚ every business‚ and every person deals with constraints and limitations‚ economics is literally everywhere. This Cheat Sheet gives you some of the basic essential information about economics. the Big Definitions in Economics When studying any subject‚ a key first step is to learn the lingo. Here are definitions for three of
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Money Market on the Nigerian Economic Development Mr. Okpe Innocent Ikechukwu Department of Accountancy‚ Enugu State University of Science and Technology‚ Enugu‚ Enugu State of Nigeria Abstract The objective of this study is to examine the impact of money market on the Nigerian economic development; it has been prepared as a contribution to the quest for promotion of entrepreneurship as an engine growth. To access the multidimensional role and medium scale enterprises in bringing out rapid industrialisation
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China Flips Switch to Fancy Exports In the 1990s and beginning of 2000s‚ China is the most common country to export low-value products to developed nations. People can easily see ‘Made in China’ which is a country of origin label affixed to products manufactured in China when they purchase T-shirts or Jeans of masstige brands. However‚ the current trend is towards other Southeast Asian countries‚ such as Malaysia‚ Indonesia‚ and the Philippines. For instance‚ the main manufacturing plant of Abercrombie
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