erratically‚ what is fact today can be false tomorrow. • Self-conceptualization and rationalization - Traditional logic and objectivity are spurned by postmodernists. Preferring to rely on opinions rather than embrace facts‚ postmodernist spurn the scientific method. • Traditional authority is false and corrupt - Postmodernists speak out against the constraints of religious morals and secular authority. They wage intellectual revolution to voice their concerns about traditional establishment
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TYPES OF ECONOMIC SYSTEMS The world’s economic systems fall into one of four main categories: traditional economy‚ market economy‚ command economy and mixed economy; however‚ there are unlimited variations of each type. An economic system must define what to produce‚ how to produce it and for whom to produced it. Depending on the products produced and the environment‚ certain economic strategies will be more successful than others. Traditional A traditional economic system is one in which each new
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Professor Soumyajit Sukul ECON 210 15 November 2009 What is Economics? Economics is the concept that contracts the manufacture‚ allotment‚ and use of produce and services. It is the study of how the use of inadequate resources will best satisfy the wants‚ needs and desire of the greatest number of people. The study of economics over the years as nations continues to connect globally has become tremendously important aspect. Economics consists of a large number of subdivisions with the two
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Economics Definition: Economics is a social Science dealing with the Economic Problem. • Social: Science that deals with human beings. • Dealing: Means facing and not solving. • Economic Problem: The problem of Scarcity (The inability to satisfy all the needs & wants) Economics is giving us the rules of rationality; the ability of taking rational decisions. Economics studies the behavior of the government at the macro level. Micro Economics: It studies the individual choices regarding
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Drawbacks of traditional information management system o Not user friendly Traditional information system is not so user friendly. While any user will use it they will face many difficulties‚ like problem in finding students name in a student register. Most of the organizations are used to follow this type of information system. If any user wants to add up any thing he or she might make any mistake in it. Traditional information management system is a non user friendly system compare to new
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Primates‚ like humans have hands‚ feet and a brain. There are certain characteristics that defines a primate. The first trait is color vision. Although humans are capable of distinguishing a spectrum of color‚ other primates fail to do so because they are colorblind. Specifically‚ they cannot see the color red. As time passed by‚ color vision has evolved for primates. Unlike before‚ they have the ability to pick out red and orange fruit to eat for themselves. Another trait is grasping hands. It helps
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and water than traditional hydroponics systems no need to worry about weeding takes up very little space Can be made as a DIY project It uses considerably less energy and water than traditional agriculture. systems can be built as a DIY project Disadvantages of aeroponics you will need to provide nutrients as with hydroponics requires electricity for small pumps and timers as with hydroponics‚ you will need some form of competency to run system can be an expensive system to buy In the
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ISLAMIC ECONOMIC SYSTEM Definition of Economics A. Ibnu Khaldun’s Definition Economics is the study of humankind’s civilization and human association. It also refers to activity related to humankind’s livehood‚ its development‚ progress and prosperity. The economic problem resides in efforts spent by people to obtain earnings that they used to satisfy their needs and necessities‚ for refinements and luxuries‚ and for acquisition and possession. Hence we can conclude that Economics is the study of
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SIGNIFICANCE AND ELEMENTS OF ECONOMIC ENVIRONMENT INTRODUCTION: Economic means "pertaining to the production and use of income”. The Factors which have their affect on the working of a Enterprise are collectively known as “Economic Environment”. It includes System‚ Policies and Nature of an economy‚ Trade cycles‚ Economic resources‚ Level of Income‚ Distribution of income and wealth etc. The Economic Environment represents the Economic conditions in the country where the international
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They have an economic system or an organized way of providing for the wants and needs of their people. The way in which these decisions are made will determine the type of economic system. There are three major kinds of economic systems: traditional‚ command and market. In a society with a traditional economy nearly all economic activity is the result of ritual and custom. Habit and custom also prescribe most social behaviour. Individuals are not free to make decisions based on what they want or
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