free market v. Command Economies Theoretical Economic Systems Basically‚ there are only three systems. At one extreme we have the free market economy where there is a very limited role for the government. At the other end we have the command economy‚ where the government takes virtually total control. As with market structures (with perfect competition and monopoly)‚ these two extremes are highly unrealistic. Just about every economy in the world is a mix of the two‚ and is‚ therefore‚ called
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IGNOU MBA MS-03 Solved Assignment 2013 ------------------------------------------------- Course Code : MS-03 ------------------------------------------------- Course Title : Economic and Social Environment ------------------------------------------------- Assignment Code : MS-03/TMA/SEM-I/2013 ------------------------------------------------- Coverage : All Blocks Note : Attempt all the questions and submit this assignment on or before 30th April‚ 2013 to the coordinator
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is market failure? - is the failure of markets to achieve the optimum resource allocation. - may be seen to exist in various forms: • Reasons for market failure: - existence of externalities - provision of public goods - provision of merit & demerit goods - imperfect markets Market Failure • Externalities can cause market failure if the price mechanism does not take into account the full social costs and social benefits of production and consumption. • Externalities are referred
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CONTROL (AQUA SILENCER). SUBMITTED BY INDEX: 1. Abstract. 2. Introduction. 3. Components and Explanation. 4. Construction. 5. Working. 6. Effect of Dissolved Gases on Water. 7. Merits and Demerits. 8. Scope of the Project. ABSTRACT: An Aqua Silencer is mainly dealing with control of emission and noise in automobile exhaust. By using activated charcoal‚ perforated tube and outer shell it is constructed. An aqua silencer
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tax policy‚ labour law‚ environmental law‚ trade restrictions‚ tariffs‚ and political stability. Political factors may also include goods and services which the government wants to provide or be provided (merit goods) and those that the government does not want to be provided (demerit goods or merit bads). Furthermore‚ governments have great influence on the health‚
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FDI: A study in the Economic and the Constitutional Perspectives. Introduction The constitution of India through the preamble‚ fundamental rights and directive principle of state policy set its ideal and goal in its true sprits to do social justice by removing economic inequalities provide decent standards of living; protect the interest with aim to end poverty‚ ignorance‚ diseases and inequalities of opportunity. It refers the making economic policy also where FDI elected as one of the major such
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When people make a great fuss over the merits and demerits of a language they overlook an important point that a language is not merely a means of communicating thoughts but also a way of getting civilized. Since‚ the date of India’s independence‚ there has been running many claims and counter-claims regarding the use and importance of English in India. Some speak in favour while some others oppose the idea of retaining English as a subject‚ in our school or college curriculum. The British
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Of Marriage and Single Life Bacon presents the merits and demerits of married life and single life in his essay‚ “Of Marriage and Single Life”. Married man is burdened with wife and children‚ which prevents him from performing greater things which may be good or evil. So‚ married man never takes risks. Unmarried or childless man is helpful to the society. As he is free from any burden‚ he can serve the society. Moreover‚ since he is childless he can shower his affection on public. He treats
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keeping sovereignty over their territory. * Internationalization is the process of leading to identifying and entering international markets. * Merits * Export their product * Increase profit ratio * For business development * Possibility of accessing new technologies / information * Spreading business risk * Demerits * culture and language barriers * exchange rate fluctuations * religious beliefs * government regulations / policy on
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In this busy world‚ many people prefer to labor only for a limited time in a year. This type of working style is welcomed by myriad people‚ as it has many advantages. The first thing which has to be admitted that working helps people mature more by gaining experience during the work time. Children are more innocent than adult but learn faster. Through mistakes‚ children understand why things are going wrong and quickly know how not to make it happen again. In addition‚ paid work bring children money
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