...Adam Smith (5 June 1723 OS (16 June 1723 NS) – 17 July 1790) was a Scottish moral philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment,[1] Smith is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is cited as the "father of modern economics" and is still among the most influential thinkers in the field of economics today.[2] Friedrich Engels (German: [ˈfʁiːdʁɪç ˈɛŋəls]; 28 November 1820 – 5 August 1895) was a German social scientist, author,political theorist, philosopher, and father of Marxist theory, alongside Karl Marx. In 1845 he published The Condition of the Working Class in England, based on personal observations and research. In 1848 he co-authored The Communist Manifesto with Karl Marx, and later he supported Marx financially to do research and write Das Kapital. After Marx's death, Engels edited the second and third volumes. Additionally, Engels organized Marx's notes on the "Theories of Surplus Value" and this was later published as the "fourth volume" of Capital.[1] He has also made important contributions to family economics. Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and writer who taught at the University of Chicago for more than three...
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...WHY OUTSOURCE The recent trends shows that outsourcing of Information systems, that is subcontracting IT activities, such as data centre operations or systems development, to third parties is becoming an acceptable, if not preferred, policy for large organizations(Earl, 1991). An enterprise might outsource its IT management because it is cheaper to contract a third-party to do so than it would be to build its own in-house IT management team. Or, a business might outsource its human resources tasks to a third-party instead of having its own dedicated human resources staff. Although the mix of factors raising the possibility of outsourcing varies widely from one company to another, there are a series of themes that explain most of the pressures to outsource. First of all, organization concerns about cost and quality drive outsourcing. The same issues such as getting existing services for a reduced price at acceptable quality standard came up repeatedly. Second, failure to meet service standards can force organization to find other ways of achieving reliability. Third, organization under intense cost or competitive pressures, which does not see IT as its core competence, may find outsourcing a way to delegate time-consuming, messy problems so it can focus scarce management time and energy on other differentiators. Next, several financial issues can make outsourcing appealing. One is the opportunity to liquidate the firm’s intangible IT asset, thus strengthening the balance...
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...According to the latest GDP report release by the United States Census Bureau it indicates that the United States has the highest percentile of total spending on healthcare issues than compared to the rest of the world. As a result for working people struggling just to get by the deeping economic crises means getting push even closer to the financial brake facing growing ascended stress on how they will manage if someone in the family needs to see a doctor and staring to just afford the cost of every day life. Having to choose between doctor visits or putting food on the table. The purpose of this paper is to provide the current level of national health care expenditures, explain whether or not the spending is too much or not enough, and explain where the nation should add or cut and why and how the public’s health care needs are paid for in the future. Whether or not the spending is too much or not enough The United States is currently undergoing major and tragic budget cuts due to the nation’s troubling deficits. Our economy’s woes have been a long time coming but were always placed in the back burner until eventually has placed a huge hole too big to continue to “bandage”. With it being said that the United State’s GDP is represented as the highest in healthcare spending; one would imagine the American people are the healthiest. This is not the case. Studies indicate the nation is troubled by the highest rates in issues that were affected by the choices of our...
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...The economic system that is best suited for handling a crises of epic proportion would be the socialism system. The reasoning for this is because our Government is part of the socialism system. Our government always plays a big role in disasters. They are the ones that are able to approve assistance and approve what king of funding families get. Whenever an epic crisis happens or strikes these people are ready and prepared for it. By using the socialism system there would be no red tape to go through because you will be dealing with the government and middle man. In this case wiping out the middle man and politics that a state may have to go through is eliminated. The state would already be dealing with the government and after analyzing the damage and estimating how much the state may need in funding they can go right to the source. The Government also has the ability to speak right with the President of the United States and he is able to declare it a state of federal disaster. When this decision is made it is then easier to know which funding to ask for. In an emergency situation a socialist system would be the best to respond. The needs of the people will be met and everyone will get assistance no matter what. With help from the government the departments get the help that they need to take care of natural disasters. They are able to provide the services that are necessary. This system has quotas and this is a benefit to them. When the earthquake hit, it...
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...“Inflation in pulses may be highest this year”: Assocham An Assocham study predicts that the price of pulses may register highest growth in 2015 due to untimely rains severely affecting 2.28 million tonnes of Rabi crop and widening the gap between demand and supply to the extent of 6 MT. The per capita availability of pulses is declining and the likely high prices in 2015 are a matter of concern on nutritional security of the nation. D S Rawat, Secretary General, Assocham, said, “Currently, pulses prices are heading for a two-year high and the present unseasonal rains in north India is resulting in humongous crop losses.” He added that the actual availability of pulses for consumption is far below what the numbers show as supply. Trade sources estimate Kharif pulses production at 5.3 MT and Rabi pulses at 12.2 MT which add up to 17.5 MT for the crop year 2014-15, a decline of 2.28 MT over last year. The import of pulses in the current fiscal has crossed preliminary estimates of the Government. The wholesale price index for pulses is currently a two year high. Market sentiments on the pulses front have firmed up due to continuing news about crop losses in northern and central India. Production and Supply: Production of pulses has fallen to 18.43 million tonnes in the 2014-15 crop year (June-July)) from 19.78 million tonnes in the previous year. A production shortfall is certain since Rabi planting was 15 per cent lower than last year. Output of Chana, the major...
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...Supply and Demand Katelyn Cranmer XECO/212 March 25, 2012 Supply and Demand Supply is the amount and type of real estate available for sale or rent at differing price levels in a given real estate market. Demand is the amount and type of real estate desired for purchase or rent in a given market at a given period of time. In the real estate market there are factors that affect the supply and demand. One of the factors that affect the supply is the availability of loans and financing to build new homes. When the market crashed the availability of loans and financing of a home became very scarce. Because of the availability of home loans and financing it has made the supply of new homes go down, with no loans or financing there is no money to be able to afford land to build on or to pay a skilled contractor. When there is no availability for new homes the demand seems to be higher. When the supply is affected in the housing market the prices seem to be lower there for there is a higher demand for house, because it has now become affordable to buy. However, one of the factors that can affect the demand is the price of a new home along with the consumer’s income. When consumers are looking into buying a house everything is based off the amount of income that they bring in. If the consumer’s income is to low then they will not be able to purchase their new house. Because the prices of a new home seems to be relatively more than people can afford with the current amount...
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...“Analysis of inflection, CPI and Annual Growth Rate: A South Asian Perspective” Prepared for Bishnu Prakash Adhakari Economics: Course facilitator SOMTU, Kritipur Prepared by Gokul Gaire MBA 2nd Semester SOMTU July 18, 2013 ABSTRACT: The rate of inflation- the percentage change in the overall level of prices- varies grately across time and cross country. The objective of this paper is to analyze the consumer price inflation in South Asian Countries from 2002 to 2010. The annual percentage change in CPI and Average Annual Growth Rate in Consumer Price Indices are analyzed to examine the trend of inflation in South Asian Countries like Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan & Sri Lanka. India has average inflation of 5% but Sri Lanka is the hardest hit by the inflation among South Asian countries. Bhutan has very low rate of inflation and Maldives has rising trend of inflation. The inflation rates are co-related with the growth rate of gross domestic product and money supply of South Asian Countries. There is positive co-relation between the rate of inflation and rate of changed in GDP at constant prices in Bangladesh, India, Pakistan, and Sri Lanka but negative correlation in Nepal. There is negative co-relation between rate of inflation and changes in money supply in Bangladesh, Nepal and Pakistan but positive co-relation in Nepal and Sri Lanka. In Pakistan the consumer price inflation is mainly due to oil price hike and food...
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...Cabot Lodge, a senator from Massachusetts was one of the supporters of the US expansion. He believed that the United States must not fall out of the line of (Mathews, 2006) March, because of the smaller states that were trying to expand their future. In 1826, the United States first became involved with Hawaii, missionaries went to Hawaii to convert them to Christianity, this was one of the first treaties between the United States and Hawaii, and there became peace and friendship between the two of them (American Imperialism: Political and Econimic Expansion (1826-1914)) In 1875, the beginning of the Americans owned plantations in Hawaii; a large sugar plantation was first established. The US sugar plantation owners continued to make money and they expanded in Hawaii and brought labors from China and Japan. By the end of the 1870s, most of Hawaii’s land and trade was controlled by Americans (American Imperialism: Political and Econimic Expansion (1826-1914)). In 1898, Americans became interested in...
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...Week 1 Scarcity( individuals, businesses (firms), gov Unlimited wants, scarce resources to aquire those wants Economics study of choices people make Economic models – graphs 3 key economic ideas 1) People are “rational” ( weigh benefits vs cost 2) People respond to econimic incentives --- money, cars ect... 3) Decisions are made at the “margin” not “all or nothing” (optional) Margin : means next or additional Widgets Subjective (Your point of view. Scarciy ( 3 Questions 1) What to produce? “Individules” Producers, Consumers, Gov 2) How much to produce? Man vs machine 3) Who gets it? Income Distrubution Should the gov intervie??? (tax code) Trade offs Opportunity Cost 1. Job 2. Education Micoeconimics VS Macroeconimics Micro • Small • People/firms make decisions? • How do they interact in markets? • Gov try to interfere??? Macro • Large • Econimy as a whole • World/International (orginations, trade • Inflation • Grouth • Unemployment Economic Systems (Gov) Centrally planned Gov decides how resources will be allocated. Exmp: Soviet Union : Communism/Socialism • Tough to produce @ lowest cost (bueracry) • Low standard of living • Political dictatorship • Exmp Cuba & N. Korea Market economies • Interactions between...
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...PAN & ZEUS Thesis Zeus and Pan were very meaningful to the Greeks because they shaped their everyday lives and beliefs. Pan and Zeus were important to the Greeks because… Greek people had something that they called a hearth. It was a fireplace outside of their homes. The fireplace had a statue of a god that they could worship while they were at home. People left food and flowers as they were passing by to honor the gods. It also has shaped how we live today by going to church and worshipping our gods, and what other people believe in. Large bodies of water surround most of Greece. The Ionian sea, Aegean sea, Mediterranean sea, the Black sea, and the sea of Crete. The first 3 are the main ones though. Crete was...
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...The two types of industries that I would consider are secondary and tertiary industries. A secondary industry is that part of the economy that involves the manufacture of finished products. In this industry products will most likely be consumed by persons. Telecommunications, steel manufacturing, automobile manufacturing, brewing, chemicals, textile, tobacco and consumer electronics are all examples of how secondary industry takes the output of the primary industry and manufacturers the finished product. Many of these industries utilize large quantities of energy, machinery, factories, and raw materials in order to complete the final product (Wikipedia). This type of industry can be described as a perfectly competitive market where there are many producers, all sharing a small share of the market. All of the producers are putting out a similar standardized product, there is easy access for any new firm to enter the market. There is very little restrictions from the government or inadequate access to vital resources. There is easy entry and exit from this type of industry and there is no concentration which means that the market is very competitive (Krugman & Robin, 2009). Concentration ratios (CR) are calculated established on the market shares of the most significant firms in that industry. One of the concepts, the four-firm CR over ninety percent of the production is yielded by the four largest firms in this industry, which promotes an oligopoly. When there is a total...
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...infrastructure and gender can affect the business operation with India, Developing a full blown business for ToolsCorp can allow for a higher success rate within the global marketplace. India has a fast growing economy. There are many perspectives on India and why it is a power move to conduct international business operations within India. India’s values, heritage, and core strengths reflects that of the United States. India has population that increase 5 percent each year (Bosch in India, 2015). India also has one of the largest political systems within the global business world. Technology within India is advancing at a rapid rate. The food processing infrastructures are steadily improving farming operations in India. Regional and Econimic Integration plays an important role on business development within India. The world is rapidly changing from a transatlantic century to a transpacific century that can affect future economic growth (Bosch in India, 2015). Increases economic openness across South Asia, also between...
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...US History 1. What were causes of depression? Economists and historians have agreed there were several factors that caused depression. One was poor econimic diversification or with other words, a lack of divesification in American economy in the 1920s. Prosperity had dependent excessevely on a few basic industries - automobiles and construction, which in late 1920s became to decline. A second important factor was uneven distribution of wealth, and as a result a weakness in consumer demand. As production increased the proportion of profits going to potential customers was too small to create an adequate market for the goods the economy was producing. A third major problem was the credit structure of the economy. Farmers were deeply in debt, and crop prices were too low too allow them to pay off what they owed. Also some of the nation's biggest banks were investing big money in stock market or were making unwise loans which cost them later on. A fourht factor was America's position in international trade, as in the 1920s European demand for American goods began to decline. This debt structure, therefore, was the fifht factor contributing to the depression. The collapse of the international credit structure was one of the reasons the Depression spread to Europe after...
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...2.0 MANAGER AND MANAGEMENT An organization is a systematic arrangement of people to accomplish some specific purpose. Every organization has a purpose, people or members and a systematic structure. The purpose of an organization is expressed in terms of a goal or set of goals. Within the organization’s structure, it’s employees strive to achieve these goals. Our society depends on the goods and services provided by different types of organizations that individuals manage. All organizations are guided and directed by the decisions of one or more individuals who are commonly known as managers. We can categorize organizational members in two ways which commonly known as Operatives and Managers. Operatives work directly on a job or task and have no responsibility for overseeing the work of others. Managers, direct the activities of other people in the organization. Managers usually classified as top, middle or first-line manager. These managers will supervise both operative and lower-level managers. First-line managers task is to supervise the day-to-day activities of operatives employees. The middle managers, represent the level of management between first-line managers and top management. These managers translate the gials of top management into specific details that lower-level managers can perform. As for the top managers, they make decisions about the direction of the organization and set policies that affect all organizational members. The term management refers...
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...INFECTIOUS DISEASE >pathogens (bacterium, virus, parasites) invades the body and multiplirs in its cells and tissues >ex. flu, malaria, tb, measles *Bacteria >single-celled organisms that multiply rapidly on their own >most are harmless and beneficial >some are infectious ~bacterial disease - results from infection as bacteria multiply and spread throughout the body *Viruses >smaller bacteria working by invading a cell and taking over genetic machinery to copy themselves ~viral disease ex. flu, AIDS TRANSMISSIBLE DISEASE (contagious/communicable disease) >can be transmitted ~bacterial disease (tb, gonorrhea, strep throat) ~viral disease (cold, flu, AIDS) NONTRANSMISSIBLE DISEASE >caused by something >does not spread >develops slowly and have multiple causes ex. cardiovascular disease, cancers, asthma, diabetes, malnutrition **since 1950, incidence of infectious diseases and death rates from them reduced: >better health care >antibiotics >dev't of vaccines Infectious Diseases are still Major Health Threats >in less-developed countries >diseases can be spread through air, water, food and body fluids >reasons: •disease carrying bacteria has developed genetic immunity to antibiotics •disease transmitting insects (mosquitoes) became immune to pesticides (DDT) *epidemic - large scale outbreak of an infectious disease in an area or country *pandemic - global epidemic like TB or AIDS Case Study The Growing Global Threat from Tuberculosis ...
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