capital are owned‚ operated‚ and traded by private individuals either singly or jointly‚ and investments‚ distribution‚ income‚ production‚ pricing and supply of goods‚ commodities and services are determined by voluntary private decision in a market economy. A distinguishing feature of capitalism is that each person owns his or her own labor and therefore is allowed to sell the use of it to employers. Summary: * Wealth and production are privately owned. * Each person owns his/her labor and
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Lecture 1. EXPERIENCE ECONOMY - when the person buys experience‚ he pays to spend time enjoying a series of memorable events that a company stages -> as in theatrical - businesses must orchestrate play memorable events for their customers [pic] - EE is applied- new experience concept‚ experience included ins services and products‚ experience venues‚ additional offerings supporting memory of the experience - The anatomy of an Experience 1. The
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INDIAN FOOD In Malaysia‚ there is an abundant of Indian restaurants and food stalls to wet your appetite. They are traditionally served on a thali‚ a circular metal tray on which a number of smalls bowls called katori‚ also made from metal‚ are placed. Eaten with fingers‚ rice or bread are placed directly on the thali while curries and other dishes are served in the bowls. For South Indian cuisine‚ banana leaves are often used as plates where rice is served in the center‚ followed by various curries
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Recent changes in Indian Capital markets Introduction A capital market is a market for securities (debt or equity)‚ where business enterprises (companies) and governments can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year‚ as the raising of short-term funds takes place on other markets (e.g.‚ the money market). The capital market includes the stock market (equity securities) and the bond market (debt). Money markets and capital markets
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The Planned Economy Key Characteristics What to Produce: Central Planning Committee (CPC) determines national priorities and implements 1 and 5 year plans How to Produce: CPC allocates resources to production managers so as to meet targets. Production carried out to meet the national interest‚ not profit. For Whom to Produce: Influenced by income levels but the CPC often determines those income levels as it also offered incentives for workers to do the more demanding jobs. Most often a sense of moral
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Emergence of the service economy In this fast changing world‚ service industries have already overtaken goods industries in the wealth creation process at least in the developed countries. Manufacturing industries grew because they produced tangible goods which satisfied people’s physiological needs of food‚ shelter and clothing. As the basic needs was fulfilled there was demand for improved satisfaction‚ and this led to a proliferation of variations of the same product and a number of companies
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Impact of Recession on Indian Economy & Changes in Consumer Behaviour due to Recession Introduction- Almost everybody today seems to be discussing about the US Recessionary trend and its impact on emerging countries‚ more particularly India Economists‚ Industrialists and the common man on the streets seem to have been horrified by the very thought of recession in India and that too due to US. Decreasing industrial production‚ inflation‚ decreasing job opportunities‚ cost cutting‚ reducing
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Indian Camp Indian Camp is a short story written by Ernest Hemingway in 1921. It is a part of a volume of short stories called “The Nick Adams stories” where the main character‚ Nick Adams‚ is an autobiographical inspired figure. In Indian Camp‚ Nick Adams is a young boy accompanying his father‚ Doctor Adams‚ and his uncle‚ George‚ to an Indian camp on the other side of a lake. Nick’s father is going to help a young Indian woman who is having problems delivering her baby. When they arrive the
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CHAPTER 1 INDIA’S TRANSITION FROM A CLOSED TO AN OPEN ECONOMY A moment comes‚ which comes but rarely in history‚ when we step out from the old to the new‚ when an age ends‚ and when the soul of a nation‚ long suppressed‚ finds utterance. 1.1 These are the words of Pandit Jawaharlal Nehru‚ the first Prime Minister of India‚ in his speech marking the Independence of India on 14 August 1947. These words still hold true today as India moves onto the global scene and is making its presence felt as
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Impact of saarc on Indian economy 1) Impact of Recession on Indian Econom Reason for Recession to occur What happened was this: banks were approached by thousands of possible new home owners asking for loans. This was during a period where the United States real estate market was climbing fast‚ and the value of homes was rising quickly. The banks approved these ‘bad’ or ‘sub-prime’ mortgages under the mentality that if the new home owners were to foreclose‚ the property would have a higher
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