Terms and Definitions related to Economics Administered price: A price set not by the forces of demand and supply‚ but by some authority like the Government or a regulatory authority. Agenda 21: Programme of action adopted at the Earth Summit in 1992. It has 21 chapters dealing with all aspects of sustainable development‚ conservation‚ and resource management. Appropriation Bill: A bill introduced in the Parliament together with the budget‚ seeking the approval of the House to permit expenditure
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Collective Actors in Industrial Relations: What Future? IIRA World Congress‚ Track 4 Rapporteur’s Report 1 Thomas A. Kochan MIT Institute for Work & Employment Research And MIT Workplace Center April 2003 The term “actors” in industrial relations gained currency in John Dunlop’s Industrial Relations Systems (1958). He proposed that three parties—employers‚ labor unions‚ and government-- are the key actors in a modern industrial relations system. He also argued that none of these institutions could
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Economic integration Economic integration is the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration. This is meant in turn to lead to lower prices for distributors and consumers with the goal of increasing the combined economic productivity of the states. The trade stimulation effects intended by means of economic integration are part of the contemporary
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The Party in 1984‚ led by the figurehead of Big Brother‚ exercised the use of doublethink as a means to control its society. Doublethink is essentially mind control‚ and in the Party’s situation‚ it was mass‚ or collective‚ mind control. This mind control was achieved through collective solipsism. Throughout history‚ as we presently see in North Korea‚ governments have strived to control their populations as much as possible‚ but none have achieved near complete control like the Party did. Certain
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Economics Assignment Effect of Commonwealth Games on Indian Economy The Commonwealth Games (CWG) is an international multi-sport event which involves athletes from the Commonwealth of Nations. The Commonwealth of Nations which is referred to as Commonwealth was formerly known as the British Commonwealth which is an inter-governmental organization consisting of fifty-four independent member states out of which two -Mozambique and Rwanda were before a part of the British Empire. The objective of CWG
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Dietary Supplements Alice Molina SCI 241 October 12‚ 2014 Aurora Merry Dietary Supplements Dietary supplements are vitamins‚ minerals‚ and herbs that one can take to add to the daily nutrient intake. Some people like to take supplements in replace of eating correctly. This is not the right way to go about it. They come in pill form‚ energy bars‚ drinks‚ powder‚ and capsules. Supplements do not have to go through all the testing that other drugs have to go through to get approval for sale. Some common
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John Hicks "An economy consists of nothing else but an enormous cooperation of workers or manufacturer to make things and do things which clients want." The Vital Functions of an Economy:- Production‚ consumption and growth are vital factors of economics. Economies might differ in the organization but all perform these three functions which are discussed below. 1. Productions:- The First vital process of an economy is manufacture which must go on incessantly. "Production comprises any action‚ and
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ECONOMICS ANALYSIS FOR BUSINESS UNIT – 1 1. What is Economics? Economics is the science which studies human behaviour as a relationship between ends and scare means which have alternative uses. 2. Definition of economics According to “Adamsmith” Economic is a social science the deals with human behaviour pertaining to production‚ Exchange and consumption of goods and services. 3. What are basic concept of economic? * Resource allocation * Opportunity cost * Diminishing marginal
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environment. Retrieved from http://ifsw.org/policies/globalisation-and-the-environment/ Department‚ U. N. (2015). World Economic Situation and Prospects 2015. Retrieved from http://www.un.org/en/development/desa/policy/wesp/wesp_archive/2015wesp_chap1.pdf Yang‚ S. (2014). Shift in global economic power Retrieved from http://www.pwc.com/gx/en/issues/megatrends/shift-in-global-economic-power-silas-yang.jhtml Sakir‚ S. (2015). Globalization Is Only a Good Thing If It Benefits All Groups of Society. Retrieved
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can predict the future. If he is concerned with the course of future variables- like demand‚ price or profit‚ he can project the future. Thus prediction and projection-both have reference to future; in fact‚ one supplements the other. Suppose‚ it is predicted that there will be inflation (event). To establish the nature of this event‚ one needs to consider the projected course of general price index (variable). Exactly in the same
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