higher wages + shorter working hours + better working and home conditions 3 conditions for why workers are deliberately underworking/soldiering 1) Fallacy: material increase in output for trade put large # of men out of work 2) Management system is defective‚ hence people working slow for their own best interests 3) Inefficient rule-of-thumb methods (universal in all trades) = lots of wasted effort 1) Majority of workers believe that if they worked at max potential/speed‚ then it would
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WATER RESOURCES What are water resources? Water resources are sources of water that are useful or potentially useful to humans. It is important because it is needed for life to exist. Many uses of water include agricultural‚ industrial‚ household‚ recreational and environmental activities. Virtually all of these human uses require fresh water. Only 2.7% of water on the Earth is fresh water‚ and over two thirds of this is frozen in glaciers and polar ice caps‚ leaving only
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CAPITAL MARKET : INDISPENSABLE FOR A COUNTRY’S ECONOMY Capital Market is one of the significant aspect of every Financial Market. Therefore it is necessary to study its correct meaning. Broadly speaking the capital market is the market for financial assets which have a indefinite maturity. Unlike money market instruments‚ the capital instruments become mature for the period above one year. It consists of finanacial institutions like IDBI‚ LIC‚ UTI‚ etc. These institutions play the role of the
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ECONOMIES OF SCALE Economies of scale are basically the increase in efficiency of production as the number of goods being produced in a firm increases. Typically‚ a firm that achieves economies of scale lowers the average cost per unit through increased production since fixed costs are shared over an increased number of goods. Fixed costs are those costs of production that do not change when output changes. There are two types of Economies of Scale: Internal economies External economies Internal
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In recent years‚ the depletion of natural resources has become a major focus of governments and organizations such as the United Nations (UN). This is evident in the UN’s Agenda 21 Section Two which outlines the necessary steps to be taken by countries to sustain their natural resources.[4] The depletion of natural resources is considered to be a sustainable development issue.[5] The term sustainable development has many interpretations‚ most notably the Brundtland Commission’s ’to ensure that it
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opportunities and challenges. The article ‘BHP Billiton and Rio Tinto: Seizing opportunities in China’s Dragon Economy’ written by Breda McCarthy encapsulates this transition; extrapolated through the variances in the economic state and rate of progression‚ which is directly intertwined with the variances in political‚ cultural and legal perspective. The rapid progress in China’s economy has made it the ideal target market for Australian mining giants BHP Billiton and Rio Tinto‚ as per “World Bank
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Chapter 5: The Open Economy 1. In a small open economy‚ if exports equal $20 billion‚ imports equal $30 billion‚ and domestic national saving equals $25 billion‚ how much are net capital outflows? Answer:–$10 billion NX = capital flows = 20-30 = -$10b 2. In Micronesia‚ which is a small open economy‚ if exports equal $5 billion and imports equal $7 billion‚ what is Micronesia’s trade balance? Answer: Micronesia has a deficit trade
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Protecting Natural Resources * * * Preservation of the natural environment is essential for maintaining community sustainability. This section presents various approaches and techniques used successfully in different communities to protect and restore their natural resources. | * Water Adequate water supplies of high quality are necessary both for community use and local ecosystems. Communities and jurisdictions must work together to assure an adequate water supply to meet future
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the economy‚ like increasing inflation‚ government budget deficit and increasing unemployment. During the period of analysis (2000-2010) Turkey has experienced an average Real GDP growth of 4.1% on a year-on-year basis measured quarterly. In 2009 Turkey experienced an even worse GDP growth rate than during the crisis in 2002‚ reaching a record low of -14.57%. Real GDP growth started to rise in the 4th quarter of 2009 and kept rising into 2010. Turkey responded to the decline in the economy with
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In the world we as people are living in today‚ our economy climate is currently in a down fall. There are not enough jobs‚ and money to keep people employed. The economy is trying to pick up in the U.S. each and every day. I’ve seen times were it’ll gradually pickup‚ then suddenly begin to fall down. The crime rate throughout the world varies throughout the city and states of our country. Population and cities are all sorts of sizes‚ some with a higher crime rate than others. Our crime rate in the
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