CIRCULAR FLOW OF INCOME The Circular Flow of Income‚ expenditure and output is a model of the economy which shows the movement of goods and services between households and firms and their corresponding payments in money terms Money circulates from households to firms and back again. The more a households spend and the more firms produce‚ the higher the levels of income. Income + output in economy should always be same and are measured by GDP. Circular Flow emphasizes importance of interactions
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Economic SYSTEM IN CUBA The Economic System in Cuba is known to be communism. Communism can be defined as a scheme of equalizing the social conditions of life. This system considers the termination of inequalities in the possession of property as well as the distribution of wealth equally to all individuals. Therefore‚ the means to achieve this is by the collectivization of all private property. By extension‚ collectivization is the process of forming collective communities where property and resources
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DATA FLOW DIAGRAM - one of the most commonly used modeling tool which graphically represents a system as a network of processes‚ linked together through input and output flow lines and entities. Data flow Components ▪ Process - transformation of data flow into outgoing data flow. It may represent . . - whole system - subsystem - activity ▪ Data store - repository of data in the system It may represent . . . - computer file or
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Q1: ) Did it surprise you that logistics can be such an important component in a country’s economic system? Why or why not? Answer I not surprise ‚ according to my past experience as a material controller in LG electronics and nowadays as a purchasing member in Suez Canal Authority The Logistics has a historical relationship with the Economic system specially with GDP . before 1980 logistics didn’t exceed the 10% of GDP ‚ but this percentage has been increased yearly until 2005 ‚ the logistics
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described money flow as the extent at which money flows into in an organisation‚ usually made from effective spending and financing activities. The components of cash flow must be evident on a planner so that it will be understood easily on how it occurred exactly. According to Donaldson & Gerard (2005)‚ he stated that if cash is not observed carefully‚ the return which might have been planned might not be recognized by the organisation. So therefore‚ one needs to have the facts of how cash flows and integrate
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circuits‚ took form. The one that gets the most attention is the Inner Circuit‚ with its constant turmoil between agrarian societies and the steppe nomadic people. However‚ the Outer and Separate Circuit societies have just as much story to tell‚ especially when examining the environments of these civilizations. The climates and geography can be looked at to see a distinct barrier from the Inner Circuit Societies‚ the challenges that the Outer and Separate Circuit hierarchies faced‚ and also their networking
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short notes on any three of the following in about 200 words each : Note :– Question No. 5 is Compulsory. SECTION–II 50 examine its role in the changing social context in contemporary times. Discuss the essential features of the caste system in India. Critically Srinivas in understanding Indian Society. Discuss the role and contributions of different concepts used by M.N. chronology. Explain the salient features of
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THE IMPORTANCE OF PRICES IN ECONOMIC SYSTEM A price is the amount of money a buyer must pay to a seller for a good or service. Price is not always the same as cost. In economics‚ cost means opportunity cost—all that is sacrificed to buy the good. While the price of a good is a part of its opportunity cost‚ it is not the only cost. For example‚ the price does not include the value of the time sacrificed to buy something. Buying a new jacket will require you to spend time traveling to and from the
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Hamlet: Inner Turmoil Within the play Hamlet there exists many puns and phrases which have a double meaning. Little ploys on words which tend to add a bit of entertainment to the dialogue of the play. These forked tongue phrases are used by Shakespeare to cast an insight to the characters in the play to give them more depth and substance. However‚ most importantly these phrases cause the reader or audience to think. They are able to show a double meaning that not all people would pick up on‚ which
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Ledri-Aguilar English 120 30 August 2013 Inner Rings and the Motives that Come Along C.S Lewis delivered a speech named “The Inner Ring” at King’s College‚ a University in London. As Lewis continues on in his speech‚ one may be a little thrown off by what these inner rings are and what exactly they mean to people. Although Lewis mentions both good and harmful inner rings‚ one could argue that most people find themselves so caught up in these inner rings they do not even realize they are trying
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