Economic growth in the context of the production possibilities frontier is defined as a representation of a point at which an economy is most efficiently producing the nation’s goods and services and therefore allocating all its resource in the best way possible. If the economy is not producing at the amount of estimated quantities that are indicated by the production possibility frontier that means the resource are being managed inefficiently and the production of the economy will start to slow
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Tax in Improving Indonesia’s Economic Growth Smoking is prohibited due to medical reasons; nevertheless‚ many countries still allow their people to smoke in certain areas‚ for example in Indonesia. This is due to the fact that by raising the cigarette excise duty by exactly 100 per cent‚ the country would acquire many advantages. It will create numerous new employment opportunities and even boost the workers’ annual incomes. This is good for Indonesia’s economic because eventually the country’s
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Relationship between Economic Growth and Community Development -Nigerian Examples By John Paul Akinduro Post Graduate Diploma (Blended) Submitted to: The School of Media and Communication Pan Atlantic University‚ Lagos November 2013 Table of contents Abstract……………………………………………………………………………………3 Methodology…………………………………………………………………………….3 Introduction……………………………………………………………………………..4 What is Economic Growth………………………………………………………....4 What is Community Development…………………………………………
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Explain why there might be rapid economic growth in a country (10m) Economic growth measures the rate of change in the volume of output produced within the economy. It is a key indicator of the nation’s economic wellbeing. Rapid economic growth can be described as economic growth that occurs in a short period of time‚ or at a great speed. A country might experience rapid economic growth due to increases in aggregate demand which lead to actual growth‚ interest rates‚ exchange rates‚ as well as
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What is quality? Quality is a measure of how good and satisfying a product is to the consumer. The ISO standard explains quality as "the totality of features and characteristics of a product or service that bears its ability to satisfy stated or implied needs." Meaning that the quality of a product/service is defined in matter of the features it presents to the customer and the rate of satisfaction it is providing to its user/consumer. The quality depends not only on its features it depends on the
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Joint Ventures A tool for growth during an economic downturn 2009 © 2009 KPMG International. KPMG International provides no client services and is a Swiss cooperative with which the independent member firms of the KPMG network are affiliated. 02 Joint Ventures Our focus on joint ventures Life is tough for businesses with expansion plans. The high leverage‚ liquidity and low funding costs that fueled growth may have stopped‚ but activist investors are still demanding increased shareholder
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Pakistan established Higher Education Commission (HEC) in 2002 to facilitate growth of indigenous universities of Pakistan to become centers of quality of education and research and development. Though this process‚ HEC aims to play its role in building of knowledge-based economy in Pakistan. In order to achieve this goal‚ HEC has undertaken a systematic plan of implementation that is 5year Medium Term Development Framework (MTDF). The main aim of HEC was to focus on quality and relevance (HEC‚ 2010)
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James Watt made many contributions to this country during the Industrial Revolution. He made numerous improvements on the Newcome steam engine‚ invented the term horse power‚ and designed the Sun and Planet wheel. He contributed most of his life to make others’ lives easier and for them to prosper and grow. In 1763 John Anderson asked Watt to repair one of his steam engines which was an early version of a Newcome steam engine. This engine wasted a lot of time and fuel so it was economically inefficient
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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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quality management history‚ gurus‚ TQM theories‚ process improvement‚ and organizational ’excellence’ The history of quality management‚ from mere ’inspection’ to Total Quality Management‚ and its modern ’branded interpretations such as ’Six Sigma’‚ has led to the development of essential processes‚ ideas‚ theories and tools that are central to organizational development‚ change management‚ and the performance improvements that are generally desired for individuals‚ teams and organizations. These
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