...Public Goods and Private Goods * Public goods provide an example of market failure resulting from missing markets. * To understand this, it is helpful first to discuss what is meant by a private good or service. Private Goods Private and Public Goods – a question of exclusion Le Shuttle is a private good – the service is excludable, rival in consumption and rejectable. But not all providers of public goods make a profit. A private good or service has three main characteristics: 1. Excludable: A ticket to the theatre or a meal in a restaurant or pay-per-view sporting events are private goods because buyers can be excluded from enjoying the product if they are not willing and able to pay for it. Excludability gives the seller the chance to make a profit. When goods are excludable, the owners can exercise property rights. 2. Rival in consumption: If you order and enjoy a pizza from Dominos, that pizza is no longer available to someone else. Likewise driving your car on a road uses up road space that is no longer available at that time to another motorist. With a private good, one person's consumption of a product reduces the amount left for others to consume and benefit from - because scarce resources are used up in supplying the good or service. 3. Rejectable: If you don't like the soup on the school menu, you can use your money to buy something else! You can choose not to travel on Virgin Rail and go instead by coach, or you can choose not to...
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...Intro to Economic Thought (ECO 105) Robert Ellmann Financial Crises Irina Sterpu __________________________________________________________________________________ OUTLINE Introduction into the topic and its origins The Great Depression 1929-1939 German Hyperinflation 1918-1923 The Great Recession 2008 1973 Oil Crisis European Sovereign Debt Crisis 2009, onward Ruble Crisis 1998 Black Monday 1987 Conclusion References Financial crises – definitions and origin The majority of economists and monetarists define financial crises as a manifestation form of banking crises, with an impact on financial stability and reaching the state of collapse of the financial infrastructure in the absence of central bank‟s intervention. Financial collapse which affects most of the companies generates quickly problems over the banking system as the following consequences: the panic of the clients, inability to distinguish between the efficiency and the difficulty of banks, deposit withdrawals. Jack Reed, an American politician mentions: “The financial crisis is a stark reminder that transparency and disclosure are essential in today's marketplace.” In economic literature, the problems in the banking system are the main sources of the financial crises. All the economic collapses require injections of liquidity or public financial funds, in some cases, private funds from banks and international institutions. Financial crises have usually...
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...In recent year there has been increasing the number of special economic zones all over the world. Because it is one of the best way to attract foreign investments to the national economies of developing countires.Special eonomic zones are the region where the financial and economic laws are relaxed. Foreign investors would be ready to invest in an area if the conditions are favorable for their businesses. Many countries are using such kind of method to accelerate their eonomy and improve their facilities to the foreign investors which their investments can be reproduced in national eonomies. By creating certain areas within the country where taxes are reduced, financial and enviromental regulations are not so tough , and according to these criterias there are various types of special economic zones throughout the world. Free trade zones( FTZ) are tax-free area where goods can be landed and “value added”, through handling and manufacturing, and re-exported without the intervention of customs. Theese zones generally focus on labour intensive maufacturing goods, such as textile and eletrical equipment and which governments can increase the inflow of foreign currency and economic growth by exproting theese products. Free-trade zones are organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Examples include Hong Kong, Singapore, Colón (Panama), Copenhagen, Stockholm, Gdansk (Poland), Los Angeles, and New York...
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...• Segmentation: • Geographic Segmentation- Secondary Hubs- Mumbai, Delhi & Kolkatta. Focus Cities- Cochin, Pune, Ahmedabad, Hydrabad, Indore, Jaipur & many more. International Destinations- London, Colombo, Dubai, Singapore, Bangkok, Dhaka, Hog Kong, Kuala Lumpur & Maldives. • Demographic Segmentation- Gender- both Male & Female Social Classes- Age group from 25 to 45 years. Income Level- Higher and Higher-Middle Income group. Targeting: • Kingfisher First Class- company executives • Kingfisher Class- Middle, Upper-Middle, Lower-Upper segment. • Positioning: • Lifestyle- FunlinersExperience, Designer Interiors • Benefits- last time booking facilities, refund in case of cancellation, In-flight Entertainments and many more • Quality- World class service provider, comfortable seats, etc • PESTEL Analysis Political Regulators: Directorate General of Civil Aviation(DGCA) - controls flying Licenses, pilots, certifying aircrafts and procedures to govern airports & airspace. Airport Authority of India(AAI) • Assigned the responsibility of managing National and International airports and administration through Air Traffic Control(ATC). FDI ceiling in Airlines sector is 49% currently. FDI limits: - 100% for Greenfield airports - 74% for the existing airports - 100% for NRI’s. • Economic Factors Contribution to the Indian Economy Rising cost of fuel Investment in the sector of Aviation. The growth of middle income group family affects the Aviation...
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...remark is some what extreme, in separating out just one factor among many problems that India faces.And yet tagore offers a judgement that is deeply insightful. The role of basic education in the process of development and social progress is very wide and critically important. First, the capability to read and write and count has powerful effects on our quality of life: the freedoms we have to understand the world,to lead an informed life, to communicate with others, and to be generally in touch with what is going on.In a society,particularl in the modern world, where so much depends on the written medium,being illiterate is like being imprisoned, and school education opens a door through which people can escape incarceration. 1.Second,our eonomic oppotunities and employment prospects depend greatly on our educational and skills. 2.Third,illiteracy muffles the political voice fo people and thus contributes directly to their insecurit the connection between voice and security is often underestimated. 3.Fourth,basic education can play a major in tackling health problems in general and public in particlar. 4.Fifth,educational development has often been the prime mover in bringing about changes in public perceptions of the range and reach of what can be called human rights,broadly defin 5.Sixth,education can also make a difference to the understsnding and usd of legal rights-the already legislaated rights that people may already have, but which they are,sometimes,not able to utilize....
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...COLOMBIA COUNTRY ORIENTATION : Location : Colombia, which capital is Bogota, is located in the northwest of South America, bordered to the northwest by Panama, to the east by Venezuela and Brazil, to the south by Ecuador and Peru. It is also bordered by the Atlantic Ocean, the Pacific Ocean, and the Caribbean Sea. "Colombia." Wikipedia. Wikimedia Foundation, <http://en.wikipedia.org/wiki/Colombia>. Size : 1,138,910 km2. It is 1/9 size of the USA, which is the size of Texas and California combined. It makes Colombia #26 in the world and #4 in South America. "Colombia." - Country Profile. N.p., n.d. Web. <http://www.indexmundi.com/colombia/>. Government structure and Leadership : Colombia is a presidential representative democratic republic established with the Constitution of 1991. It is an unitary State, decentralized where multi-party system is allowed. Thus, it is a Republic with separation of powers between : The executive branch : a President, Juan Manuel Santos since 2010, also Head of government, and a Council of Ministers. The President is elected by popular vote for a four-year terms, and then choose the members of the Council of Ministers. The legislative branch : the Congress is bicameral, between the Chamber of Representatives (166 seats) and the Senate (102 seats). The Congress is elected by popular vote too, for a four-year terms. The judicial branch refers to The Supreme Court, which is represented by 23 judges divided into three Chambers...
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...Fascinated by the simple cost-effective business models he observed at small burrito shops in San Francisco, Steve Ells founded the first Chipotle Mexican Grill in 1993 near the University of Denver. By putting his own spin on the traditional casual dinning approach, Chipotle is now an enormously successful publicly traded company with over 1,000 locations in 38 states. Although Steve was first drawn to the business model by its limited cost structure, he aspired to run his business in a sustainable manner. The company uses management accounting to ensure their high standard operating decisions will also provide the company with enough profit to remain competitive and continue to grow. Customer Value Proposition Differentiating themselves from the completion, Chipotle primarily focuses its branding and marketing campaigns around two value concepts, “Food with Integrity” and “Fast-Casual Dining”. These propositions are predominantly geared toward winning over its major customer segment, millennials. Chipotle’s core value proposition marketed by the slogan, “Food with Integrity” is intended to evoke the emotions of its customers with high standards of sustainability. The millennial generation is commonly referred to as the “connected generation”. This generation tends to be affluent, educated, and conscious of their surroundings. Chipotle’s strategy is to solidify its reputation with this generation by promoting humane food sourcing and organic farming. Chipotle’s...
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...Chapter EIGHT CROSS-NATIONAL COOPERATION AND AGREEMENTS OBJECTIVES • To profile the World Trade Organization • To discuss the pros and cons of global, bilateral, and regional integration • To describe the static and dynamic effects and the trade creation and diversion effects of bilateral and regional economic integration • To define different forms of regional economic integration • To present different regional trading groups, such as the European Union (EU), the North American Free Trade Agreement (NAFTA), and Asia-Pacific Economic Cooperation (APEC) • To describe the rationale for and success of commodity agreements Chapter Overview Regional economic integration represents a relatively new phenomenon in the history of world trade and investment. Chapter Eight first examines the roles of the General Agreement on Tariffs and Trade and the World Trade Organization in determining the ground rules of the world trade environment. It then introduces the basic types of economic integration and explores the potential effects of the process. Next it examines in detail both the European Union (its structure and its operations) and the North American Free Trade Agreement and briefly describes a variety of other regional economic groups. The chapter concludes with a discussion of various commodity agreements and producer alliances, including the Organization for Petroleum Exporting Countries. Chapter Outline OPENING CASE: TOYOTA IN EUROPE Known for...
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...Term Paper For B.B.A(Hon's) Second Year Course Netrakona Govt. College Department of Management Topics : Taxes on Tobacco in Bangladesh Date : Letter of Transmittal Date: 25/04/2014 A.K.M. Khairul Hasan Lecturer Department of Management Netrakona Govt. College Netrakona Subject: Submission of Term paper on Taxes on Tobacco in Bangladesh" Sir, This is my pleasure to submit this term paper on "Taxes on Tobacco in Bangladesh" under the Supervisor. A.K.M Khairul Hasan. I have done my level best to completed Term paper in time. The whole experience of this Term paper enables me to get an insight in to the real life situation. I have really enjoyed working in this field this Term paper prepared by me as a fundamental issue. I hope This Term paper will enable to find out real scenario of on existing Tues or tobacco in Bangladesh. I would like to thank you for your supportive suggestion and helping me to carry on this study. With out your direct helps this term paper would not be prepared by me. Abdul Aziz Roll No: 9822765 Registration No: 1800488 Session: 2010-2011 B.B.A (Hons.) Second year Class Roll: 227 Netrakona Govt. College Netrakona. Author's Declaration of Originality I hereby certify, that I am the sole author of this Term paper on "Taxes on Tobacco in -Bangladesh". it is prepared for a partial fulfillment of BBA degree. To the best of my knowledge my Term paper does not infringe upon anyone's copyright nor violate any proprietary rights. Any...
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...Birla Institute of Technology, Mesra, Ranchi, Jharkhand, India Syllabus of Master of Urban Planning [MUP] Programme |FIRST SEMESTER | |NO. |SUBJECT |L. |T. |S. |Units | |MUP1101 |History of Human Settlement & Planning Principles |3 |0 |0 |1.0 | |MUP1103 |Housing & Community Planning |3 |0 |0 |1.0 | |MUP1105 |Planning Theory and Techniques |3 |0 |0 |1.0 | |TRS1017 |GIS with introduction to Remote Sensing |3 |0 |0 |1.0 | | Sessional / Laboratory subjects | |MUP1102 |Planning Studio / Workshop I (With Field study) |0 |0 |12 |1.5 | |MUP 1104 |Urban Design |0 |0 |4 ...
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...Dependency Theory: An Introduction 1. Vincent Ferraro, Mount Holyoke College South Hadley, MA July 1996 Background Dependency Theory developed in the late 1950s under the guidance of the Director of the United Nations Economic Commission for Latin America, Raul Prebisch. Prebisch and his colleagues were troubled by the fact that economic growth in the advanced industrialized countries did not necessarily lead to growth in the poorer countries. Indeed, their studies suggested that economic activity in the richer countries often led to serious economic problems in the poorer countries. Such a possibility was not predicted by neoclassical theory, which had assumed that economic growth was beneficial to all (Pareto optimal) even if the benefits were not always equally shared. Prebisch's initial explanation for the phenomenon was very straightforward: poor countries exported primary commodities to the rich countries who then manufactured products out of those commodities and sold them back to the poorer countries. The "Value Added" by manufacturing a usable product always cost more than the primary products used to create those products. Therefore, poorer countries would never be earning enough from their export earnings to pay for their imports. Prebisch's solution was similarly straightforward: poorer countries should embark on programs of import substitution so that they need not purchase the manufactured products from the richer countries. The poorer countries would still sell...
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...Contents Introduction 3 Literature review 4 Research methodology 9 Analysis 11 Case study: Tata’s Croma 16 Findings 20 FDI in Retail in India 21 Growth drivers in India for retail sector 22 Discussion 23 FDI in INDIA SECTOR WISE 23 Conclusion 25 Bibliography 27 Introduction Foreign Direct Investment (FDI) is fund flow (inflow/outflow) between the countries wherein one gains benefit from their investment whereas another can exploit the opportunity to enhance the productivity and find out better position through performance. Foreign Direct Investment (FDI) is the flow of funds between countries wherein one country reaps benefits from the investments and the other can make the most of the opportunity to improve the productivity and stabilize their position through performance. The Dictionary of Economics has defined FDI as investment in an overseas country through the acquisition of a company there of an operation on a new site. In other words, the capital inflows from abroad that is invested in to improve the production capability of the economy. Two forms of FDI: * Inward FDI * Outward FDI FDI is an important factor for growth and development in both developed and developing countries. FDI has seen a spectacular growth in the last two decades globally. Policies are formulated in order to accelerate inward flows. FDI provides good opportunities and benefits for both the host and home countries in terms of investments. The “home” countries...
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...Crime, Transitory Poverty, and Isolation: Evidence from Madagascar Marcel Fafchamps University of Oxford y Bart Minten Cornell Universityz June 2005 Abstract This paper investigates the relationship between poverty and crime. Following a disputed presidential election, fuel supply to the highlands of Madagascar was severely curtailed in early 2002, resulting in a massive increase in poverty and transport costs. Using original survey data collected in June 2002 at the height of the crisis, we …nd that crop theft increases with transitory poverty. Theft thus appears to be used by some of the rural poor as a risk coping strategy. Increased transport costs led to a rise in cattle and crop theft, con…rming earlier …ndings that, in Madagascar, geographical isolation is associated with certain forms of crime. We also …nd that an increase in law enforcement personnel locally reduces cattle theft which, in Madagascar, is a form of organized crime. JEL classi…cation code: K14, I39 We thank Eliane Ralison and Lalaina Randrianarison for their assistance in collecting and cleaning the data. Funding for this project was provided by USAID and Cornell University. y Department of Economics, University of Oxford, Manor Road, Oxford OX1 3UQ. Email: . Fax: +44(0)1865-281447. Tel: +44(0)1865-281446. z Cornell Food and Nutrition Policy Program, Cornell University, Ithaca NY. Email: 1. Introduction There has long been a suspicion that poverty favors criminal activity, but hard evidence...
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...Would free trade agreements improve international trade by encouraging foreign direct investments and opening new markets (Name) (University) Table of contents 1 Introduction……………………………………………………………………………………...3 2 Literature review………………………………………………………………………………..3 2.1 The Changing Landscape of Regional Trade Agreements ……………………………...……3 2.1.1 Introduction………………………………………………………………………………….3 2.1.2 Evolution of the RTAs Landscape………………………………………………….……….4 2.1.3 Conclusion………………………………………………………………………………...6 2.1 Integrating Free Trade Agreements and the politics of Free trade Agreements…………….7 2.2.1 Introduction…………………………………………………………………………………7 2.2.2 MENA Region………………………………………………………………………………8 2.2.4 Conclusion………………………………………………………………………………...9 2.3 Arab Free Trade Area: Potentialities and Effects and the Impact of regional Trade Agreement and Trade Facilitation in the Middle East North Africa region…………………….10 2.3.1 Introduction………………………………………………………………………………..10 2.3.2 The Past……………………………………………………………………………………11 2.3.3 Conclusion…………………………………………………………………………………13 2.4 The North American Free Trade Agreement:Economic impacts of the agreement on United States of America and Mexico in comparison…………………………………………………14 2.4.1Introduction………………………………………………………………………………..14 2.4.2 About NAFTA……………………………………………………………………………15 2.4.3 Conclusion ……………………………………………………………………………….16 2.5 Effects of changes to USA-Korea Free Trade Agreements[FTA] On The Passenger Vehicle sector……………………………………………………………………………………………17...
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...SSC1 - General Education Social Science Course of Study Theories and Methods What is the role of science and the scientific method in the social sciences? The purpose of the social sciences is to study systematically all aspects of the human condition and of human behavior, using a methodology borrowed from the physical sciences wherever possible. This insistence on systematic and methodical study is what distinguishes the social sciences from philosophy, art, and literature, which also comment and reflect on all facets of the human condition. In fact, insights into the nature of human behavior and the characteristics of societies have been expressed by artists, poets, and philosophers since time immemorial. How do the social sciences differ from natural and physical science? Competencies covered by this subject 113.1.1 - Social Science Theory and Methodology Scientific Method in Social Science To prepare for further study in this domain, you will want to familiarize yourself with ways in which the scientific method is applied in the social sciences. Keep in mind the crucial comparison between social and natural science. Consider the following questions: What is the scientific method? Scientific Method for Sociology An area of inquiry is a scientific discipline if its investigators use the scientific method, which is a systematic approach to researching questions and problems through objective and accurate observation, collection and analysis of data, direct experimentation...
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