The Development of Economic Activity Human Beings produce and consume goods and services from the resources in their environment. It is primarily for the reason that humans are called ECONOMIC ANIMAL‚ because he or she has the ability to use his or her hands and brain to satisfy his or her immediate personal needs. These are looked at as basic needs; these needs are food‚ shelter and clothing (Economic Activity). Economic Activity means activities which results in the satisfaction of needs. In order
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Introduction My business club intends to hold a debate competition at the end of the month. I am been selected and the title has given as‚ “Managers today should use the democratic style of leadership rather than automatic style.” Before I start this title‚ I decide to determine both of the style. Democratic Style Democratic style is a platform to create a team to participate in the decision-making process. When an enterprise is making decision‚ they usually use democratic style in many parts
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ECON111 Page 115 1. Define the price elasticity of demand and the income elasticity of demand Price elasticity of demand is a measure of how much quantity demanded of a good responds to a change in the price of that good. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. Income elasticity of demand is a measure of how much quantity demanded of a good responds to a change in consumer’s income. It is calculated as the
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BUSINESS ENVIRONMENT (PART-1) COMPONENTS OF BUSINESS ENVIRONMENT 1. INTRODUCTION Hello! Students‚ welcome to series on business environment. The topic of this lecture is Components of Business Environment. The objectives of this lecture are to make you understand the meaning of business environment‚ relationship between business and business environment‚ characteristics of business environment and to study the various components of the business environment. In the last lecture we studied
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Content Introduction Introduction of economy in Malaysia‚ Malaysia is one of democratic country that has many race‚ religion and nationality. Economy in Malaysia also open-stated oriented and growing relatively also new in industry market. In Malaysia‚ we practice mixed economy for our country. There have 3 factors that responsible with economy in Malaysia: Definition of Mixed Economy Mixed economy means that part of economy is left to the free market and the other part is run by the government
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1. INTRODUCTION Manager is an organisational member who integrates and coordinates the work of others in order to achieve organisational goals. It is definitely not about personal achievement‚ but about helping others to do their work. Manager is also the person who creates and coordinates the workplace systems and conditions so that others can perform those tasks effectively. Though many know the concept of being a manager‚ not many know how to apply it in practical scenarios. We managed to interview
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Recently‚ a friend showed me the results of a survey of employees around the world. When it comes to what motivate staff to give their best at work‚ the following Top 10 motivating factors were identified: Appreciation or recognition for a job well done Being in the know about company matters An understanding attitude from the management Job security Good wages Interesting work Career advancement opportunities Loyalty from management Good working conditions
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1. Explain the advantages of Socialist Economy? In socialist economic system means of production are owned and managed by the State. Ownership of means of production is not allowed. In socialism economic activities are carried on mainly for social gains and personal interest is of less significance. In this economic system the anti social activities like smuggling and hoarding find no place. Economic activities are planned with the motive of social benefit by a central planning authority. The
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PoC Needs and Drives Needs and drives‚ what exactly are they and what do they have to do with dogs/dog training? A need or drive is a type of motivation that describes the behaviors dogs show during training. Needs can be something as obvious as water or food‚ all the way to behaviors that serve no clear physical need at all (ex play behavior). Dog training is all about arranging matters so the dog’s yearnings are met when they perform the desired action. Before any of this can take place you
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Tutorial 2 (Topic 2: Thinking like an Economist) 1. i) What is meant by positive analysis and normative analysis? ii) Classify each of the following statements as positive or normative. Explain. a) Society faces a short-run trade-off between inflation and unemployment. b) A reduction in the rate of money growth will reduce the rate of inflation. c) Bank Negara Malaysia (BNM – Central Bank) should reduce the rate of money growth.
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