STS Part 4.3 TECHNOLOGY TRANSFER AND ECONOMIC GROWTH By Raja Aggarwal Technology is usually defined as "know-how" or the sum of knowledge‚ experience‚ and skill necessary to establish enterprise that will manufacture and market a product economically. Technology needs to be viewed not only as the specific production process or manufacturing technology‚ but also various other types of knowledge and expertise necessary for the planning‚ establishment‚ and operation of a manufacturing
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Is Economic Growth Always Desirable When using the Keynesianism theory of aggregate supply and aggregate demand‚ economic can be both desirable and undesirable. Firstly‚ economic growth at its most basic level increases GDP and employment. If consumers are spending more money‚ whether it is by increased consumer confidence‚ lower interest rates or rise in house prices‚ companies usually see increased profits. As a result‚ they are more likely to invest in their business and expand its capacities
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Economic growth is defined as the sustained increase in real GDP or GNP per capita over time. Economic growth is desirable for an economy as it increases its real national income and standards of living for its people in general. Although it is desirable‚ economic growth does have its benefits and costs. One benefit would be increased levels of consumption. Provided economic growth outstrips population growth‚ it will lead to higher real income per head. This can lead to higher levels of consumption
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and housing. It also allows them to have many children and many descendants‚ which is recommended by the religion. Although today especially Western economists believe that population growth is related with economic growth. For example‚ the population of some countries growth goes hand in hand with economic growth like China‚ Senegal‚ and United States. Finally‚ polygamy avoids the treason for men who have sexual needs. For example‚ there is men who have strong sexual needs and they cannot
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1. Neoclassical Theory Causes of Economic Growth a. Increase in labor quantity (population growth) b. Improvement of labour through training and education c. Increase in capital (higher savings and investments) d. Improvements in technology Neoclassicals believe that government control inhibits growth as it encourages corruption‚ inefficiency and offers no profit motive for entrepreneurship. Underdevelopment is seen as the result of government inefficient use of resources and state intervention
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City University of Hong Kong Department of Economics and Finance Semester B 2013–2014 EF2401 Economics II Instructor: Dr. KUNIEDA‚ Takuma Office: P7318‚ Academic Building‚ Level 7‚ Lift 6 Phone: 3442-7960 Email: tkunieda@cityu.edu.hk Office Hours: To be announced 1 Objectives and Outcomes 1.1 Objectives The main objective of this course is to introduce students to the basic principles of macroeconomics. Students will learn to apply macroeconomic analysis to the business world and other
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money‚ people have no happiness lives with. Money is the foundation of live‚ for if there is no money‚ people cannot survive. If people cannot survive‚ how can there be happiness at all. Second‚ money is not everything. Most of the happiness could not be brought by money. For example‚ Bill Gates cannot enjoy the happiness of escape from a disaster‚ cannot enjoy the happiness of be a world champion‚ cannot enjoy the happiness of win the gold medal‚ cannot enjoy the happiness of families reunion‚
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Health Economics Strayer University Health Economics HSA 510 Dr. Christine McMahon July 19‚ 2013 Health Economics Economics focuses on allocation of resources for businesses. Health economics emphasizes the functional capability of the health care system and obtaining the most from available resources. Health economics is not only the concern of economists but also hospital management and health care professionals. In fact‚ allocation of health care resources affects everyone. The center
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The Relationship between Money and Happiness If money doesn’t buy happiness‚ what does? Many people believe that having more money is going to make them happier in life‚ but does money really provide true happiness? After reading the passage “Yes‚ Money can buy happiness‚” by John Tierney‚ explains that people are more often to be happier when they spend money on others rather than spend money on themselves. In my opinion many people believe having more money will make their lives happier and
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Anonymous: Some people believed that health is more important than money‚ I also have the same concept as them. Money cannot buy health despite having the ability to acquire the best medical system however; money is earned through hard work. If our health is affected‚ how would we be able to concentrate on our work to bring back the bacon home? Therefore is it vital that we remain healthy so that we can focus on our work to put food on the table. Health can also bring joy in our life for an example
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