intellectual property rights through patents. Hence‚ there are incentives in the free market system for firms to be innovative and produce better quality products. DISADVANTAGES OF FREE MARKET ECONOMY ( ADVANTAGES OF COMMAND ECONOMY Public‚ merit and demerit goods. Public goods cannot be provided privately because of their two characteristics‚ non-diminishability and non-excludability. These goods have to be provided
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A market economy is an economic system where the factors of production‚ are privately owned‚ consumers and producers are motivated by self interest‚ the level of competition in the markets is very high and resources are allocated through the price mechanism. The definition is supported by Lipsey (1992) who also state that decisions about resources allocation are made without any central direction but instead as a result of innumerable independent decision taken by individual producers & consumers
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that fail is justified and effective‚ by addressing and focusing on the economic problem of externalities‚ demerit goods‚ and the lack of provision of public goods. Governments can utilise various methods to address externalities and demerit goods. Externalities are third party spillover effects‚ and can be both positive and negative‚ and can come from consumption or production sides. Demerit goods are goods that either cause negative externalities‚ or are goods that governments deem unacceptable
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There are some goods that underprovided and underconsumed. Such goods are cold merit goods. They can be defined in terms of their externality effects and also in terms of informational problems facing the consumer. A merit good is a product that society values and judges that everyone should have regardless of whether an individual wants them. In this sense‚ the government is acting paternally in providing merit goods and services. They believe that individuals may not act in their own best interest
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TOPIC. THE NEXUS/RELATIONSHIP BETWEEN FEDERALISM AND GOOD GOVERNANCE? The underlisted are some definitions of federalism‚ types‚ reasons for‚ features‚ merit and demerit and problems associated with the concept. Types of Federalism Dual federalism‚ also known as "layer cake federalism" involves clearly enumerated powers between the national and state governments‚ and sovereignty in equal spheres. Cooperative federalism‚ also known as "marble cake federalism‚" involved
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Odhiambo committee a success? 9. Citing relevant examples‚ discuss the merits and demerits of the above change strategies in schools 10. a) Discuss the importance organizational training in implementing change. b) Identify a problem in a school situation and design a training programme to educate the affected group on how to handle the problem. 11. In relation to the above rules‚ discuss the merits and demerits of engaging internal and or external consultants. 12. Conflicts‚ general inefficiency
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1. 2. 3. 4. 5. Merits Convenience No charge on assets No obligation Dependable Growth and Expansion Demerits 1. Low dividend 2. Uncertain 3. Unbalanced growth 4. Misuse and Speculation Debenture: It constitutes the borrowed funds of the company. It is an acknowledgement of debt. Debenture capital may be called DEBT CAPITAL. 64 Types Of Debentures • Secured Unsecured • Redeemable Irredeemable • Convertible Non- Convertible • Registered Bearer Debentures Merits 1. Regular return
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Coursework by Aleksandr Bakharev Globalization Globalization can be defined as the process of integration and interaction among the governments‚ companies‚ and people of different countries. It is a process which is driven by investment and international trade. It is aided mainly by information technology. Globalization has the effect on a number of things‚ some of which include culture‚ environment‚ economic development‚ political systems and the general human physical well-being among the societies
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MEMORANDUM PIZZA HUT RESTAURANT Date: 13 June 2012 To: Mr Patrick Song‚ Chief Executive Officer From: Mr Gilliette Lim‚ Director of Customer Service Operations Subject: RECOMMENDATION REPORT OF ENHANCING CUSTOMER SERVICE At your request‚ I am submitting this report detailing my recommendations to improve the quality of services in Pizza Hut Inc. My recommendations are based on my own experience‚ observations and feedbacks that are given by our customers. Background Pizza Hut is a well-known
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Methods of Sampling An Individual Assignment In Business Maths II SYBBA Submitted by: Shweta Thapa R-11-35 Department of Business Administration Rosary College of Commerce & Arts 2013-2014 A simple random sample A simple random sample is obtained by choosing elementary units in search a way that each unit in the population has an equal chance of being selected. A simple random sample is free from sampling bias. However‚ using a random number table to choose the elementary units can
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