2. Why isn’t money consider a capital in economics? Capital is a physical asset‚ which can be used to produce goods and services. Money is related to capital‚ in that it can be used to purchase capital‚ but it is not itself capital. The distinction is important if you consider that money can be created or destroyed through the expansion or contraction of credit‚ but this does not create or destroy any real capital. Money is capital. Money is the most common form of capital. Raising capital money
Free Economics Macroeconomics Unemployment
Role of consumers: - consumers: all individ.s in ec. that consume goods and services to satisfy needs and wants - consumer sovereignty: refers to the fact that patterns of consumers spending determine patterns of production. Through spending dec. consumers express their preferences. Factors influencing individual consumer choice: Income: disposable income – after tax (main determinant on consumer spending) More income‚ more demand for good and services But APS
Premium Economics Income Economics of production
Butler. A lot of what happens to Telemachus is relevant to events that families who have a parent/guardian in the military go through today. In ‘The Odyssey’‚ Odysseus has to leave from his home in Ithaca to fight in the Trojan War. Odysseus leaves as soon as his son is born‚ so his son Telemachus grew up without a father in his life. Telemachus eventually uses Eumaeus‚ Odysseus’ swineherd‚ as a father figure in his life. A lot of times‚ when the parent comes back‚ their child does not recognize them
Premium Family Mother Father
The role of banks in economic recessions 05.05.2009 In today’s wavering global economic context‚ the word `crisis` is omnipresent‚ taking the media by assault and infringing into the population’s daily life‚ although many countries haven’t even officially entered recession yet. Although recession is generally referred to as a negative Gross Domestic Product growth for a period of at least two consecutive quarters‚ other important economic
Premium Monetary policy Inflation Recession
Terms and Definitions related to Economics Administered price: A price set not by the forces of demand and supply‚ but by some authority like the Government or a regulatory authority. Agenda 21: Programme of action adopted at the Earth Summit in 1992. It has 21 chapters dealing with all aspects of sustainable development‚ conservation‚ and resource management. Appropriation Bill: A bill introduced in the Parliament together with the budget‚ seeking the approval of the House to permit expenditure
Premium Inflation Economics
the discount rate used to determine present values. Thus‚ all managerial decisions should be analyzed in terms of their effects on value‚ as expressed in this equation. Q1-3 Describe the effects of each of the following managerial decisions or economic influences on the value of the firm: A. The firm is required to install new equipment to reduce air pollution. New equipment installed will increase the operating cost. And the sales may increase if the customers have positive attitude to
Premium Cost Monetary policy Costs
Collusive and Non-Collusive Oligopoly What is an oligopoly? An oligopoly is a market dominated by a few producers . An oligopoly is an industry where there is a high level of market concentration. Examples of markets that can be described as oligopolies include the markets for petrol in the UK‚ soft drinks producers and the major high street banks. Another example is the global market for sports footwear – 60% of which is held by Nike a nd Adidas. However‚ oligopoly is best defined by the
Premium Oligopoly Pricing Cartel
modern capitalists‚ owners of the means of social production and employers of wage labor. By proletariat‚ the class of modern wage laborers who‚ having no means of production of their own‚ are reduced to selling their labor power in order to live.” ~ Friedrich Engels. Every person has been classified as something whether it is age‚ skin color‚ or wealth. There are various forms of classification. For example‚ ever heard of social stratification or social economics? It is society’s categorization structure
Premium Social class Marxism Sociology
– forward and backward. It is a forward projection of data variables‚ which is named forecasting. By contrast‚ the backward projection of data may be named ‘back casting’‚ a tool used by the new economic historians. For practical managers concerned with futurology‚ what is relevant is forecasting‚ the forward projection of data‚ which supports the production of an event. Thus‚ if a marketing manager fears demand recession‚ he
Premium Forecasting Prediction Future
European economic and political expansion in Southeast Asia in the last quarter of the 20th century resulted in the greater integration of the region into the international economy. Six ‘new’ states emerged – Indonesia‚ Malaya‚ Burma‚ the Philippines‚ Indochina and Thailand. Discuss economic and social change in the region with reference to ONE Southeast Asian state. Economic and social change within Indonesia Introduction After over a quarter century of sustained economic growth‚
Premium Indonesia Southeast Asia Inflation