economic analysis the most common objective that firms are regarded pursuing is profit maximization. It best explains the normal behavior of the firm. The profit maximization model is based on the assumption that each firm seeks to maximize its profit under certain constraints (technical and market). Propositions of the Model: • By employing certain techniques of production‚ a firm converts various inputs into outputs of higher value. • Each firm aims to earn maximum profit. • A firm operates
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the employee motivation. However‚ because of the invalid ordering of human needs‚ cultural diversity‚ and different levels of economy‚ Maslow’s hierarchy of needs cannot be used in current Chinese business to motivate employees. This essay will critically evaluate the viability of Maslow’s theory. It begins with a brief introduction and some support of the theory‚ then gives the arguments against it‚ finally anticipates some doubts and dispute about it. Maslow’s hierarchy of needs hypothesizes that
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Economic growth is considered as one of the most essential parts of the economics‚ and it is defined an increase of goods and services of a country within certain period (Acemoglu‚ 2012). Modis (2013) claimed that‚ this economic growth conception particularly relates to the growth of potential output and production which is measured by gross domestic product per capita (GDP). Economic growth ideology has a long history‚ though it has been existed since the mid-18th‚ economic growth has dominated
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As the term “market-driven” has suggested‚ journalism becomes business-oriented in Hong Kong. While some people consider market-driven journalism a good change‚ a lot of problems are also arisen due to this practice. In this paper‚ we are going to examine the advantages and disadvantages of market-driven journalism in Hong Kong to see whether citizens can benefit from it. Before talking about the pros and cons of market-driven journalism in Hong Kong‚ let us first give a clear definition of the topic
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Contribution of Agriculture and Petroleum Sector to the Growth and Development of the Nigerian Economy from 1960-2010 By 1 1 Aminu Umaru and 2Anono Abdulrahman Zubairu Department of Economics & 2Department of Management Technology School of Management and Information Technology Modibbo Adama University of Technology‚ Yola‚ Adamawa State‚ Nigeria. Abstract This paper investigates the contribution of agricultural sector and petroleum sector to the economic growth and development (GDP) of the Nigerian economy
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GrTeaching Note to the Case The Growth Dilemma – A case on Infoedge India Limited by Deepak Pandit‚ EFPM 2008 EFPM Student Mobile: 91 9811311032 Email: efpm08deepak_p@mdi.ac.in Case Supervisor : Prof Amit Kapoor Case Facilitator: Dr Geeta Bajaj Relevance • • An understanding of the perspective of Top Mgmt at Info Edge Limited regarding the economic slowdown – By understanding the macro economic environment and its impact on performance of Infoedge Limited – By understanding
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All Firms Should Produce at MR=MC In economics‚ the point of profit maximizing and loss minimizing is called MR=MC. This point is where marginal revenue equals marginal cost‚ meaning that cost does not exceed revenue and revenue does not exceed cost. This is a profit-maximizing zone‚ meaning that total cost is not the lowest‚ but is farthest away from the total returns. The optimal point of production for the firm is at the point MR=MC. Marginal revenue is defined as the change in total revenue
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version Paper to be presented at IUSSP Conference in Brazil/session-s09 Population Growth and Global Carbon Dioxide Emissions Anqing Shi Development Research Group The World Bank Keywords: Population‚ global warming‚ Carbon Dioxide Emissions‚ projections Abstract: Previous studies on the determinants of carbon dioxide emissions have primarily focused on the role of affluence. The impact of population growth on carbon dioxide emissions has received less attention. This paper takes a step forward
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Critically examine the relationship between different social groups and their religious beliefs and practice (33 marks) There are significant differences between social groups and their religious beliefs and practice... There is a very significant ethnic pattern in the participation of religion. The minority groups in britain are a lot more religious than the majority of the population (white christian) . For example‚ it is much more likely to find black christians(who make up 40% of the membership)
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Introduction Tim Jackson with his book “Prosperity without Growth‚” has stressed the need to review our current economic system. The dominant economic model based on continued growth has brought humanity to the brink of social‚ environmental‚ and financial disaster. Aim The purpose of this report is to (a.) Explain the current economic system and identify conditions that may lead to a more sustainable economy; (b.) Create a vision and strategy for Colourful Corporation to participate and contribute
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