Economies of scale The long run – increases in scale A firm’s efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale‚ but firms can become too large and suffer from diseconomies of scale. As a firm expands its scale of operations‚ it is said to move into its long run. The benefits arising from expansion depend upon the effect of expansion on productive efficiency‚ which can be assessed by looking at changes in average
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GE 301 Engineering economy AN INTRODUCTION ECONOMICS Definition – It is one of the social sciences‚ which consists of that body of knowledge dealing with people and their assets or resources. ECONOMICS Resource (Definition) – ● It is a material or asset that is transformed to produce benefit‚ and in the process may be consumed or made unavailable. Asset (Definition) – ● ● It is anything tangible or intangible that is capable of being owned or controlled
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countries and generated almost 15% of its GDP from tourism in 2006. Indonesia is the only member of G-20 major economies and considered as the largest economy in the region.[31] Indonesia’s estimated gross domestic product (nominal) for 2008 was US$511.7 billion with estimated nominal per capita GDP was US$2‚246‚ and per capita GDP PPP was US$3‚979 (international dollars). Stock markets in Southeast Asia have performed better than other bourses in the Asia-Pacific region in 2010‚ with the Philippines’ PSE leading
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Underground economy The underground economy or black market is a market where all commerce is conducted without regard to taxation‚ law or regulations of trade. The term is also often known as the underdog‚ shadow economy‚ black economy‚ parallel economy or phantom trades. In modern societies the underground economy covers a vast array of activities. It is generally smallest in countries where economic freedom is greatest‚ and becomes progressively larger in those areas where corruption‚ regulation
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Outcome 1 The market I am choosing from the Scottish economy is the housing market. No matter where you go there is always a demand for housing. There are 5‚295‚000 people living in the Scotland but not enough housing for them all. Many people struggle to get into affordable housing due to the scarcity‚ since many were allowed to be sold to tenants while Maggie Thatcher was in power. Unfortunately for us the money raised by privatising these houses was not put back into the economy to build new ones
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Economy of Japan The development of Japan’s economy has started in the Meiji era. The rulers of that age wanted to create a capitalist market economy from the example of America and Britain. Japanese people travelled to abroad to learn while instructors came from the West to Japan to teach. The majority of today’s enterprises have established at that time. Japan has become the most developed country in Asia. Japan had the second largest economy till 2010 but China has overtaken Japan as the world’s
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UNIVERSITY OF DHAKA DEPARTMENT OF MANAGEMENT STUDIES ASSIGNMENT ON ECONOMY OF BANGLADESH (Macroeconomic Performances) DATED: 01st April‚ 2013 SUBMITTED TO Kazi Rayhan Uddin Lecturer‚ Department of Management Studies University of Dhaka SUBMITTED BY Introduction: Bangladesh‚ small state of South-East Asia with the total area of 144‚570 sq km‚ can‘t still shake off the ill-reputation of being one of the least developed countries‚ shadowed by miserable poverty‚ high illiteracy
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Bsc3 -----ZHANG Naixin 1. Why did you choose Asia for doing business with emerging economies? Generally speaking‚ as we know that Asia has become one of the regions whose economy is developing fastest in recent years. This new flow of powerful booming begins to attract lots of global attentions and to occupy more and more world economic market. This fact which cannot be ignored any more is not only a huge challenge‚ but also stands for a great business opportunity
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Business Environment Assignment#2 The UK Economy Done by: Saira The economy of the United Kingdom is the world’s sixth-largest national economy measured by both nominal GDP and purchasing power parity (PPP). The UK has the third-largest national economy in Europe measured by nominal GDP (after Germany and France) and the second-largest measured by PPP (after Germany). Its GDP per capita is ranked the 20th highest in the world in nominal
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Slavery and the Economy Over the course of history‚ historians have viewed slavery as an immoral and unjustifiable institution. At the beginning of the antebellum period‚ around 700‚000 slaves were unjustly imported and sold into slavery. New land discovered in America was seen as profitless and pointless without an inexpensive source of labor. By the end of this historical time period‚ that number increased to over 4‚000‚000 slaves brought into the United States. The institution of slavery helped
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