around us is an extension of ourselves‚ or‚ in other words‚ any medium is an extension of a human body or mind or senses. For an instance‚ the hammer is an extension of a human’s arm‚ the wheel is an extension of a human’s leg‚ and the medium of a language helps us to put our thoughts and emotions into words. According to this‚ things around us would not be the medium unless it does its function. Like‚ an electric light itself is a medium without the message‚ pure information‚ unless we use it in a
Premium Sociology Age of Enlightenment
Economy of scale refers to the benefits of producing on a large scale. When firms and industries increase the scale of their operation there can be advantages which reduce the average (unit) cost of their output. Internal economy of scale is the benefit‚ in the form of lower average costs‚ which a firm can gain from increasing its size. Internal economies of scale arise from the growth of the firm itself. One internal economy of scale can be marketing economies. For food retail industry‚ large
Premium Economics Retailing Firm
The Role of the Organizational Development Practitioner Timothy Jenkins Herzing University Organization development is a systematic approach or process for implementing organizational change that is effective. This process is an ongoing process. One of the primary functions of organization development is to focus attention on understanding and managing change within an organization. Organization encompasses several fields of study such as psychology‚ sociology‚ theories of motivation
Premium Psychology Behavior Management
Role Of Mathematics in Business & Economics Introduction: Mathematics have been one of the primary elements of business and economics since ancient times‚ when farmers had to count the animals in their possession and merchants had to have a clear picture of their goods’ value. With the introduction of money as the universal legal tender‚ all goods acquired a numerical value‚ making math calculations even more important. Furthermore‚ in the competitive global market environment of today‚ businesses
Premium Mathematics Economics Business
of financial liberalisation (FL) on economic development in less developed countries (LDC). The paper is divided into several sections; the first examines the concept of financial repression and the second introduces the Mckinnon-Shaw thesis of financial liberalisation; section three looks at the critique of Mckinnon-Shaw thesis. This paper presents some evidence that will indicate a positive relationship between financial liberalisation and economic development (e.g. growth rate). However‚ this relationship
Premium Inflation Economics Investment
Question: How far does foreign aid contributes to the economic development of the poor countries? Answer: Developed or rich countries help developing or poor countries by providing aid to them. Currently lots of third world countries receive foreign aids from developed countries. This situation is lasting for many years and has both positive and negative aspects. Foreign aid from various sources can reach recipients through bilateral or multilateral delivery systems. Literally the world is becoming
Premium Economic development Third World Poverty
Attitude Measurement: Likert Scale The Dogmatism Scale Please do not skip any of the statements‚ and answer each statement to the best of your ability. Strongly Agree‚ Agree‚ Sometimes‚ Disagree‚ Strongly Disagree 1.) Once an idea is in my head‚ I stick with it. 2.) My own personal beliefs seem to be more right than others. 3.) I am open to hear others opinions and let them at least try to change my mind. 4.) I would rather agree with someone‚ even though I know they are wrong‚ just because we
Premium Belief Opinion Psychometrics
which is usually measured by the Consumer Price Index (CPI)”. In the context of market economy‚ prices are showing the application so it can be said that inflation is caused by a “mismatch” between aggregate demand and aggregate supply‚ signaling economic imbalance. However‚ in its complexity‚ inflation is a monetary imbalance caused by increasing the amount of money in the economy and hence the declining purchasing power of the currency. Ludwig von Mises explained the phenomenon using the example
Premium Inflation
The individual and the state have been a force against each other throughout the beginning of society. Despite the conflict‚ the individual cannot flourish without the support by the state and vise visa. The individual help support and develops the state while the state provides order and protection. The state brings pressure and expectation to the individual to act accordingly. The individuals are put in a box and if the individual steps out of the box the state begin to criticize the individual
Premium George Orwell State Vietnam War
“Training Strategies for Small and Medium Sized Businesses: One Size Doesn’t Fit All.” Abstract The prerequisites for training vary in different businesses‚ with size being a significant factor. The smaller firms tend to conduct their training for their employees on a superficial level‚ having their entire focus on learning informal skills. Whereas in comparatively larger SMEs‚ there is a broader spectrum for the learning perspective. These companies want to obtain a more formal training with
Premium Human resource management Management Business