facilities outside the country in which they are based."(United Nations‚ 1973‚ P. 23) The rise of Globalisation has forced and enabled more companies to venture abroad in order to thrive for more profitability: bigger market‚ cheaper raw materials‚ and lower labour costs. However‚ MNCs have also noticed that the more countries they enter‚ the more ethical issues appear. At best‚ even when MNCs are dealing with one only one culture‚ they are already facing ethical difficulties; as they encounter two
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Introduction Economic systems are organized way in which a state or nation allocates its resources and apportions goods and services in the national community. An economic system is slackly defined as country’s plan for its services‚ goods produced‚ and the exact way in which its economic plan is carried out. There are three types of economic systems exist‚ they are command economy‚ market economy‚ and mixed economy. Command economy is also sometimes called planned economy. The expectations
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have led to the creation of your dominant economic systems prevalent in today’s society. After a century of decline and stagnation‚ in the fifteenth century the European population began to grow. However‚ this growth had soon decreased in the early seventeen hundreds. The economies of Europe as well as the rest of the world started to change. This change was mostly attributed to the greatly expanded geographical horizons and resources’‚ which caused changes in the European economy especially in respects
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The first democratic system was built in the ancient Greece in the 5th or 4th century BCE when Athens went from dictatorship to a certain form of Democracy enabling all male citizens with equal rights‚ freedom of speech and the opportunity to participate directly in the Assembly. Since then‚ the Athenian ekklēsia and the rule of the demos has been a source of inspiration for the centuries to come. Rulers and monarchs had referred to this source in order to revolutionize their own government or to
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China chose the socialism instead of capitalism as the country political system when PRC was established? 1. What is socialism‚ capitalism? - Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit. Other elements central to capitalism include competitive markets‚ wage labor and capital accumulation. - Socialism an economic system characterized by social ownership of the means of production and
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An economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses. Unlike a market economy in which production decisions are made by private citizens and business owners‚ a centrally planned economy seeks to control what is produced and how resources are distributed and used. The production of goods and services is undertaken by state-owned enterprises. Centrally planned economies assume that the market does not work
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Political liberalism emphasizes the social contract‚ in which citizens make the laws and they all agree to abide by those laws. It is supported on the belief that individuals know what is best for them. Political liberalism grants political representation to all adult citizens regardless of sex‚ race‚ or financial status. It highlights the “rule of law” and favors liberal democracy. It works on the principle that individuals are the foundation of rules and civilization. Furthermore‚ society and
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stay out of it‚ leaving the economic system- structure of methods and principles that a society uses to produce and distribute goods and services- to be determined by the combined decisions of millions of individual people. Economic system is defined as how a society chooses to produce‚ distribute‚ and consume goods and services. Since resources are scarce and not always available each society must determine three important factors when determining their economic system. These factors are how the
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Every country has the difficult decision of how to support their people‚ including their wants and needs; they do so by picking a specific economic system. There are four completely different types of economic systems; traditional‚ command‚ market‚ and mixed economies. “Most countries have a mix of three different types of economic systems”.(Clayton 55) India is a worthy example of mixing the three main economic systems by combining elements of a traditional‚ command‚ and market economy. (Clayton
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which they emerged. There are several varieties of liberalism that are discussed in the text of “Political Ideologies and the Democratic Ideal” by Terence Ball and Richard Dagger. Some of these varieties are neoclassical liberals‚ welfare liberals‚ and libertarian anarchists. The first variation of liberalism discussed is neoclassical liberals‚ who believe the need to limit government to keep it from robbing the people of freedom. Charles Darwin’s theory of evolution was very influential to some
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