...I. INTRODUCTION The international trade theory experienced several periods of development from Classical to Neoclassical, New Trade Theory, and then the New Classical Trade Theory. The earliest over international trade had its birth in the end of 15th century and initial period of 16th century. That is, during the period of western countries’ primitive accumulation of capital and the main theory is mercantilism. It is claimed of the theory that the only form of wealth is the metal---gold and silver. People can gain them though exchange and for a nation, it is to increase the social wealth. Hereby, the way to gain gold and silver is international trade. II. THE DEVELOPMENT PROCESS OF THE THEORIES: 1. CLASSICAL INTERNATIONAL TRADE THEORY In the late 1790s, the point of mercantilism was challenged by the classical economists. Based on criticizing the mercantilism, Adam Smith proposed the division of labor theory. It has been 41 years from Adam Smith proposed the absolute cost in his the Wealth of Nations in 1976 to David Ricardo proposed the comparative cost in his the Principles of Political Economy and Taxation in 1817. This is the foundation period of international trade theory, that is, the Classical period. The absolute cost of Adam Smith is based on the division of labor theory. Adam introduced the division of labor theory to the field of international trade and established his absolute cost theory, thus demonstrating the fact that a nation can make the sources of each...
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...INTERNATIONAL BUSINESS MIDTERM Question 1: One of the discussed themes is on the institutional environment of international business. In this context, we focused mainly on the evolution of the international monetary system and monetary institutions that facilitate international trade and investment. (1a) Marking the benchmarks along your route (i.e. Bretton Woods, Smithsonian, Jamaica, Plaza, and the Louvre Accords, etc), trace this evolution from its origins in the gold standard, through the fixed and the floating exchange rate systems to the managed float (target zone) system we are living in today. Answer: Since known history of mankind exchange of goods and services of value had been going on between individuals, groups and tribes/nations. By the passage of time it developed through barter system to gold coins etc. In modern times starting from the last century, the evolution of institutional environment of international business and monetary system as well as monitory institutions have been developed to streamline the trade and investment among the nations. Going through the various stages of evolution from the origin in the gold standard and development to present time floating exchange rate system and to explained the workings of the international monetary system and pointed out its implications for international business we make Bretton Woods followed by Jamaica, Plaza, and the Louvre Accords, etc. To further elaborate the topic it is imperative to describe each...
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...The Evolution of Menopause and the Grandmother Hypothesis Throughout the natural world trade-offs between reproductive success and longevity have been noted by scientists for many years. Most wild animals remain fertile until death, as do human males, and although human males do become less fertile with age, they in general experience no complete shutdown of fertility. Men as old as the age of 94 have been noted to father children (Diamond, 1996). The situation for human women is strikingly different. They undergo menopause, the permanent cessation of menstruation, by the time they are in their mid fifties (Lahdenpera et al., 2004). In fact, natural conception after the age of 50 is extremely rare. Menopause has become quite the evolutionary puzzle for modern scientists because natural selection favors increased reproduction, therefore increasing one’s own fitness. The essence of natural selection is that it promotes genes for traits that increase an animal’s number of descendents bearing those genes. Thus, the great question is: How could natural selection result in every female member of a species carrying genes that destroy her ability to leave more descendents? Many theories on the evolution of menopause have arisen in the past 50 years in an attempt to answer this question but they all also have key assumptions and limitations. Proponents of the Grandmother Hypothesis believe that their theory holds the greatest promise to answer this question. The Grandmother Hypothesis...
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...selection in this wild population of guppies. They will ultimately find out the effects on the guppy population and their color distribution depending on the predator that lives in their environment. Endler wondered how the trade-off between attracting mates and affecting predators affects the coloration in male guppies. In pools that had few predator species, male guppies tended to be brightly colored, whereas predators are causing guppy populations to become drabber. This occurs because the predators are preying on the most brightly colored individuals and eliminating them from the gene pool. Therefore, guppy populations are evolving to more closely match, or stand out from their environment. Endler hypothesized that intense predation caused natural selection in male guppies, favoring the trait of drab coloration. He further tested his hypothesis by transferring brightly colors guppies to a pool with many predators. As he predicted, over time the transplanted guppy population became less brightly colored. Females tend to look for the bright colored male guppies in the pool and mate with them. This enables those males to have a higher probability of passing their genes on to their next generation. In the simulation, predators can dramatically influence the evolution of a population of guppies, but change does not occur quickly during the testing of one generation for each trial. (Before columns on graphs in...
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...Aubrie Harmon Amanda Crawford English 12B 2, February 2017 Shift in Imperialism From the sixteenth to the early nineteenth century the world was overrun by what is now known as Old Imperialism. European nations sought trade routes with the Far East, explored the New World, and established colonies in North and South America, as well as in Southeast Asia. Some nations even set up colonies on the coast of Africa and China, peacefully trading with the locals. The New Age of Imperialism , beginning in the 1870s, set up the administration of the native areas for the benefit of the colonial power. Great European nations implemented aggressive expansion policies and suddenly the idea of imperialism took on a whole new meaning. This New Age Imperialism...
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...“How the Bible and evolution clashes, why is the knowledge of the Doctrine of Creation is important to understand?” THEO 525 LUO (fall 2013) Systematic Theology I Liberty Baptist Theological Seminary October 11, 2013 Creation and Evolution clashes, when there are changes being made to the age of the earth and the creation of man. The structure is described in the Bible as God created it; however, it describes the earth before the six days of creation. When thinking about the integration of evolutionary principles, as far as the scientific laws are concerned, there is no difference between the origin of the earth and all of its life. Could the Big Bang theory have happened? The Gap Theory, everything made out of nothing. Is the Gap Theory real? Luther sided with the Bible and creation, is his blessing relevant today? Was the earth created out of nothing, no previous atoms did God use? God created the heavens and the earth in six days so we had the seventh day for Shabbat. The Progressive Creation explains the Genesis flood and the six days of creation. So the question is could God really have created everything in six literal days? If so, where did the origins of life come from; and what about the Law of Nature, their survival of the fittest? How big is the rift between the evolutionist and the creationist? Can we trust the Bible to tell us the truth? These are the questions that I will be looking for an answer to. In evolution and creation of religious...
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...USA Abstract Purpose – This paper seeks to present a preliminary investigation into long-term patterns of trade specialization among leading textile- and apparel-exporting nations, assessing patterns of comparative advantage across the textile machinery, man-made fiber, textile and apparel sectors of the textile complex to determine whether these conform with both trade specialization and industry evolution theories. A model of evolutionary change in intra-complex specialization is defined and evaluated. Design/methodology/approach – A revealed comparative advantage index is employed to evaluate international competitiveness for 30 nations over a 42-year period. With repeated measures, ANOVA is used, to determine the significance of the observed patterns across five income-defined groups of nations. Findings – Long-term patterns of specialization broadly reflect expectations of factor proportions theory and industry evolution models. Product and income group characteristics combine to influence comparative advantage. Higher income nations generally remain stronger in more capital-intensive sectors, while lower income countries have emerged to dominate labor-intensive sectors. However, inclusion of a more complex array of variables is necessary to obtain a fuller understanding of international competitiveness. Practical implications – Established theory remains a useful but limited guide to understanding the dynamics of international competitiveness in the context...
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...The Evolution of the CPA Practice Introduction According to Pepe (2011), everyone understands that accounting is the mode of communication in business. It is the channel through which investors and businessmen get to understand whether their investments are worth it or not. It helps in giving the value of an investment at any given time. The contemporary accounting practice and methods are quite diverse. However, they have not been so since the beginning. According to Waweru (2010), there are numerous changes that have marked the evolution of accounting. This research paper seeks to look into the accounting evolution process. Reese and Janes (2012) indicate that accounting has changes both in terms of accounting theories, as well as application of technology in accounting. Therefore, when looking at the history and evolution of accounting, it is imperative to look at the changes that have occurred. These changes are both in theory, and the application of technology in accounting. It is also worth looking at the various accounting theories that have come up. These have to be related to the changes in technology, higher literacy levels, and more complex business operations which call for the review of accounting practices. The need to protect the interest of the public is also a chief reason why changes in the accounting practice needed to occur. This essay looks at the changes both in practice and application of technology. Evolution in Theory and Practice According to...
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...INTRODUCTION In history technology has developed over time with the evolution of man. The developments in technology are as a result of the need by man to fulfill some of his needs such as protection, find food, entertainment and to gain wealth among others. History of development in technology is the systematic advancements of techniques for doing and making of things over time. In time the term technology has had various understanding to man. Technology by mid-century was defined using phrases like, “the means or activity by which man seeks to change or manipulate his environment.” Term technology, is coined from two Greek words, technē, “art, craft,” and logos, “word, speech,” which in Greece means discourse on both applied and fine art. Development of human kind as seen through the theory of evolution of man is categorized into three distinct periods, the stone age, bronze age and the iron age. The stone age shows primitive tools which with time into the bronze age tends to get more sophisticated and later become more complex seen in the iron age. The changes involved in technological advancements of early man is attributed to the change in their mental ability, the changes in social behavior. (Netzley, 1998) This paper focuses on the chronological advancements in technology through the three phases of human evolution and how it influenced their daily lives. It reviews in general the social conditions in these periods, the dominant materials used, the sources of energy...
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...Media in the 20th Century John D. Allmon COM/156 March 3, 2013 Carey Rodriquez ------------------------------------------------- Media in the 20th Century I. To fully understand mass media, we need to come to grips with the enormous role that mass media has played in shaping that culture over the past one hundred years. With the development and evolution of mass media, there have been tremendous advantages and disadvantages that have contributed to major changes in society throughout the 20th century. However, these changes not only affect society but it has also affected the way business is done today. With the dawn of media convergence, globalization of media, audience dependency, concentration of ownership, and issue of media literacy; all the parties in the mass communication process are forced to think dramatically about their positions in it. Mass media can affect knowledge, attitudes, opinions and behavior of individuals. These effects can be immediate or delayed, for a short duration or long-lasting. II. With the development and evolution of media, we find that media convergence and media dependency have become a major factor in how society is affected and the way we respond throughout our everyday life. Encyclopedia Britannica (2013) states that, “Media convergence, a phenomenon involving the interlocking of computing, and technology information companies, telecommunications networks, and content providers from the publishing worlds of newspapers...
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...Paper-I Principles of Geography Physical Geography i) Geomorphology : Factors controlling landform development; endogenetic and exogenetic forces; Origin and evolution of the earth’s crust; Fundamentals of geomagnetism; Physical conditions of the earth’s interior; Geosynclines; Continental drift; Isostasy; Plate tectonics; Recent views on mountain building; Vulcanicity; Earthquakes and Tsunamis; Concepts of geomorphic cycles and Landscape development ; Denudation chronology; Channel morphology; Erosion surfaces; Slope development ;Appl ied Geomorphology: Geohydrology, economic geology and environment ii) Climatology : Temperature and pressure belts of the world; Heat budget of the earth; Atmospheric circulation; atmospheric stability and instability. Planetary and local winds; Monsoons and jet streams; Air masses and fronto genesis, Temperate and tropical cyclones; Types and distribution of precipitation; Weather and Climate; Koppen’s, Thornthwaite’s and Trewartha’s classification of world climates; Hydrological cycle; Global climatic change and role and response of man in climatic changes, Applied climatology and Urban climate. iii) Oceanography : Bottom topography of the Atlantic, Indian and Pacific Oceans; Temperature and salinity of the oceans; Heat and salt budgets, Ocean deposits; Waves, currents and tides; Marine resources: biotic, mineral and energy resources; Coral reefs, coral bleaching; sealevel changes; law of the sea and marine pollution. iv) Biogeography :...
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...discuss the most relevant old and new trade theories and all its components. Once they are presented, Integration may arise not only as a key concept but as one of the ultimate goals of international trade. Integration should be described and analysed not only theoretically but with the European case as framework. Finally, the conclusion may be presented showing all the benefits and drawbacks of integration. Table of contents Introduction 1 Analysis 2 Conclusion 9 Bibliography 11 Appendix 13 Introduction The aim of this project is to present, characterize, examine and analyse the nature and sense of the European integration. In order to achieve it some of the most important trade theories will be presented. Not only the classic ones but also some of the more recent ones, which will allow the analysis to fundament and give an accurate background to the idea of integration and all its components. The study should be focalized into the old classical trade theories of Absolute and Comparative Advantages, the Heckscher-Ohlin model and its Samuelson variation. Then, some of the newest classical trade theories such as the New Trade theory and the International Product Life Cycle theory will be discussed. Finally, it will be mentioned one new contemporary trade theory made by Michael Porter´s referring to the national competitive advantages. The main intention of presenting those theories is to have the proper theoretic framework...
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...seen in Figure 2, the composition of federal tax revenues has changed drastically over the past sixty years. While individual income tax revenue has remained relatively stable as a proportion of total tax revenue, payroll tax revenue has dramatically risen at the expense of corporate income tax revenue. This indicates that the substantial increase in human resource spending has affected the entire composition of the revenue side of the budget. Section 4.3 - Emphasis of Budget Deficits The transformation of the federal budget over the last sixty years has revealed the evolving view of the government’s role in the U.S. economy. Prior to 1960, budget deficits were a rare occurrence except in times that demanded serious funding, such as periods...
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...What is Anthropology??? • • • 20:41 Anthropology • Scientific Approach, OBJECTIVE • Study of Humankind- human groups • Seeks to produce useful GENERALIZATIONS about people and their BEHAVIORS • To arrive at an UNBIASED UNDERSTANDING OF HUMAN DIVERSITY • Only scientific discipline that attempts to embrace an understanding of all of humanity • Helps us understand ourselves an others Anthropology Perspectives • Holistic Approach (broadest view) o To view things in the broadest possible contest o To cover the whole scope of humanity o To provide a total or composite view o Human culture as a system, functional whole, all parts relate o Biocultural Perspective Studies both the PHYSICAL and SOCIAL EX: kuru disease (neurological disease)- disease caused by culture, transmitted by mortuary practices • Cultural Relativism o To view the beliefs and customs of other peoples within the context of their culture not one’s own o Practice of not judging other cultures based on the standards of one’s own culture o ENDOCENTRISM Group centeredness Tendency to see ones own culture as the center of everything The measure or standard against which all other lifeways are evaluated Tendency to consider ones own culture as superior or better than all others o Anthropologists must be unbiased, objective o Involves an effort to remain unbiased in ones observations o Acknowledges that cultures are DIFFERENT, but NOT RANKED o No right or wrong cultures...
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...Introduction Money is nothing and money is everything. Money takes very important role in our society. People cannot imagine life without them. Even little kid knows that he can buy most desired thing for money. Money is a special good which performs a role of global equivalent by expressing value of all other goods. Nowadays we can pay for services in cash, checks, and bank cards. In Slovak republic, like everywhere else, real circulation represents notes, coins and paper money. In this work is analyzed where did the money come from, evolution, what caused their appearance, how they have been accepted in society then. What factors influenced the development of trade exchange and measure as it is today. So, where did the money which is so important in our lives come from? Contents Definition of money 3 Theories of money origin 4 Prehistoric material money 5 Prehistoric metal money 7 First coins 8 Money in Slovakia 10 Money before 1993 10 Money in Slovakia after 1993 11 Slovakia and Euro 11 Conclusions 13 References 14 Definition of money In essence, to satisfy our need we produce goods and provide services (or just do what we need to do). And papers which are called money do not bring any direct benefit. Doubled company’s products, we become richer, but if we print more money we do not become richer at all. With this example we can show that money is totally irrelevant thing. On the other hand, money and financial institutions related...
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