Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
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Political Economy of the Free Market System and its effect on our work and personal lives. By: Christina Bajwa “A fusion of economic and political theory into one single social theory” is the definition of political economy provided by the great Yugoslav economist Branko Horvat that Philips uses in his book‚ Inside Capitalism: An Introduction to Political economy‚ to explain how it is different from orthodox economics and politics‚ but rather a combination of
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figures ruined‚ and reputations of well-respected organizations and business firms badly tarnished on account of it. The international mass media feeds on it and scandals and improper conduct‚ especially of those in high places‚ are looked upon as extremely newsworthy‚ and to be investigated with zeal and vigour. The rising trend in the use of corruption as a tool to discredit political opponents‚ the media’s preoccupation with it as a highly marketable commodity‚ and the general public’s fascination
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Al-Ahram Weekly Egyptian Economy (Currency) During this period of time followed by all the Strikes made by protestors in Al-Tahrir‚ The value of the pound dropped again less than before. Today the value of the pound traded at 6.05 LE to the dollar‚ which is the lowest value since 2004. This slide came after violence violated between security forces and protestors followed by the Strikes made by some public and private companies and individuals. Bilal Khalil‚ deputy head of the exchange
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OF CORUPTION • Corruption hurts economies‚ people‚ and governments. Corruption is unethical‚ immoral‚ and illegal in many societies‚ religions‚ and countries. It needs to be stopped. Private organizations‚ United Nations‚ and some governments have attempted to stop corruption or at least have tried to prevent it. They have failed‚ however • Eradication of corruption should be the nation’s number-one priority in view of the ever-increasing horizon of political and administrative corruption and
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school." The international system to getwitnessed dramatic changes in the recent past. Questions They were talking about how has Yuanyuan‚ how and daughter‚ into a relating toFan Xiaoli’swhen ordinary citizens can stand against oppression‚ injustice‚ and prestigious junior high school in Guangzhou‚ abuse without resorting to violence challenge all of us to rethink our understanding of China. When test results were released in academicians‚ educators‚ practitioners‚ private international peace and conflict
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Project about: the effect of political economy of the state in global business. Submitted by: Amira Elwelely Submitted to: DR.Saed ghalap International Political Economy (IPE) is the rapidly developing social science field of study that attempts to understand international and global problems using an eclectic interdisciplinary array of analytical tools and theoretical perspectives. IPE is a field that thrives on the process that Joseph Schumpeter called "creative destruction." The growing
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As Robert Neuwirth‚ who is a former business reporter‚ defines the informal sector or informal economy is that part of an economy that is not taxed‚ monitored by any form of government‚ or included in any gross national product (GNP)‚ unlike the formal economy. Other terms used to refer to the informal sector can include the black market‚ the shadow economy‚ and the underground economy and how he refers it mostly is System D. The original use of the term ‘informal sector’ is attributed to the economic
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“moral decay‚ wicked behavior‚ putridity or rottenness”. Defining the concept corruption is not as easy as one recognizes its occurrence. Despite its long history‚ there is no single universally agreed upon definition of corruption. Transparency International (TI) defines corruption as ‘misuse of entrusted power for private gain’. It varies from region to region and remains largely contextual. Literature unanimously recognizes that corruption is an ancient‚ wide and pervasive problem‚ that continues
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that comes into mind is perhaps football‚ coffee or dancing. You might not think of it as one of the world’s fastest growing economies; one of the BRIC nations‚ [Brazil‚ Russia‚ India and China] recognised by Goldman Sachs in 2003‚ as one of four countries with the potential to become some of the world’s largest economies by 20501. As of 2009‚ Brazil is the 8th largest economy by nominal GDP‚ and in terms of Power Purchasing Parity‚ or PPP.2 Economic growth in Brazil has been significant over the past
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