...Institute of Economic Affairs Essay Competition Entry “Because of market failure and to prevent inequality, the government should finance and provide all healthcare.” Given this common view, whilst making some reference to methods of providing and financing healthcare in other European countries, discuss whether government finance and provision of healthcare is likely to maximise welfare? Healthcare is categorised as a merit good as consuming it provides benefits to society and to the individual consumer. For instance, immunisation against a contagious disease gives us protection and results in a private benefit as well as an external one, to those who are protected from catching the disease from those who are inoculated. However, few would want inoculation only to protect others. Therefore, the demand for healthcare will be less than the socially efficient quantity. Having great advances in new technologies, treatments and drugs improves our health service’s ability to supply, as well as encouraging demand to such an extent that demand substantially exceeds supply. Unfortunately, this creates long waiting lists and therefore a scarcity of beds available for treatment. If we privatised the NHS, it would allow prices to increase to show how much it really costs to supply. But obviously, this would be very controversial and cause immigration rates to drop. This could be seen as a bad thing for some, due to the fact that many are very productive and willing to work for...
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...ECONOMICS TERM PAPER Theme: Health expenditure by Government in India Title: Health care and expenditure: an analysis of Indian Government’s Welfarism Name: Prakhil Mishra Semester : IV Roll no.: 13BAL027 Table of contents Sr.No. | Content | Page number | 1 | Abstract | 03 | 2 | Introduction | 04 | 3 | Why health expenditure is important | 04 | 4 | Trends in public spending | 05 | 5 | Core areas of spending | 10 | 6 | Conclusion and critical comments | 11 | 7 | Learning outcomes | 12 | 8 | Bibliography | 12 | Abstract Healthcare is a prime indicator of the development in a country. It is the basic function of a state to look after the needs of its citizens pertaining to health and nutrition. In India, there are high numbers of malnourished and undernourished people, and most of them are children under the age of fourteen. Health expenditure in India is a holistic approach of the government as a welfare state to ensure proper distribution at highly subsidized rates for the resource less people. The paper deliberates upon the government spending on health (Where it spends and how much it spends) and tracing of the changing trends in entailment of expenditure. Key matter of contention includes: * Introduction to public spending on health * Why spending on health is important * Changing trends in public spending on health and family welfare * Core areas where spending is done: analysis with the help of laws * Conclusion and critical analysis Key...
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...is referred to as a transaction Turnover - Net Profit = revenue – total costs Product or Services – business earns revenue by selling a product or a service Capital: money used by business to pay for plant, machinery, buildings etc enable a business to begin or continue in business What is Business? * Part-time cleaner ,multi-national companies, Nationalised industries * Share common characteristics * Aims and objectives * Use resources * A process for decision making * Accountable * Subjects to external constraints Definitions * Business Organised effort of individuals to produce and sell, for a profit, products and services that satisfy society’s needs * e-Business Organised effort of individuals to produce and sell, for a profit, products and services that satisfy society’s needs via computer networks including the Internet take for granted that business today involves e-Business * e-commerce Stakeholders Any person or party who has an interest in the business, however tenuous that interest might be * Example: The Aim and Objectives of Business Aims - Principles by which an organization is run Aim – broad, no time scale * Maximising Profits * Survival, reward to owner, future. * Maximising Sales – market share * Maximising Share Price * Providing a Service * Maximising employee welfare – co-operatives * Survival e.g Football clubs * Social...
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...Q1. Market Failure: is to do with not having enough resources to produce enough goods and services needed neither by the government nor by the society, as a result of this failure, the government develop a role to intervene in the economy in order to overcome these problems. 1. Public goods: According to the business dictionary, public good is an item whose consumption is not decided by the individual consumer but by the society as a whole; and which is financed by taxation. A public good or service may be consumed without reducing the amount available for others and cannot be withheld from those who do not pay for it. E.g. parks, police services, fire services etc. Consumers have an incentive to not reveal their willingness and ability to pay for public goods if they believe that they will be expected or required to contribute to financing the public good accordingly by the government. After all, if the public good is supplied, it will be available to them just as it would be to anyone else because pure public goods are non-excludable. This is the essence of the “free rider problem”: the incentive which consumers have to avoid contributing to financing public goods in proportion to their valuation of such good. Good examples to use include TV licence dodgers and people who choose to evade the Council Tax but who still receive local authority services. Another example might be a group of residents in a block of flats who all stand to benefit from the refurbishment of an...
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...Distribution channel strategy design: Application and implementation in healthcare ANDERS RAVN Master of Science Thesis Stockholm, Sweden 2011 Distribution channel strategy design: Application and implementation in healthcare Anders Ravn Master of Science Thesis INDEK 2012:85 KTH Industrial Engineering and Management Industrial Management SE-100 44 STOCKHOLM Master of Science Thesis INDEK 2012:85 Distribution channel strategy design: Application and implementation in healthcare Anders Ravn Approved Examiner Supervisor 2012-06-21 Mats Engwall Jannis Angelis Commissioner Contact person Clinical Innovation Abstract Healthcare is a very important and intimate service virtually all people use at least at some occasion in a lifetime. It is also highly complex and variable with heterogeneous patients requiring individualised attention in order to be effectively treated. This requires large resources in terms of labour, knowledge, skill, and time which is why in the past, improving productivity has been difficult. Information and communications technology, ICT, has been seen to have potential to improve productivity in e.g. diagnosing, devising treatment plans, communicating with patients and clinical staff, and record-keeping if applied correctly. During mainly the 1990s, the banking sector changed its distribution channel strategy to focus increasingly on Internet banking rather than local branches. If parallels...
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...uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed. South Africa's transportation infrastructure is among the best in Africa, supporting both domestic and regional needs. OR Tambo International Airport serves as a hub for flights to other Southern African and International countries. South Africa also has several major ports that make it the central point for most trade in the Southern African region. Economy of South Africa Cape Town CBD Rank Currency Fiscal year Trade organizations Statistics GDP $277.4 billion (2009) (nominal; 32nd) $488.6 billion (2009) (PPP; 25th) 32nd Rand (ZAR) Calendar year WTO, G-20, SACU and others Contents 1 History 2 Sectors 2.1 Telecommunications 2.2 Agriculture 3 Trade and investment 4 Complicating factors 4.1 Human capital flight 4.2 The electrical crisis 5 Economic policy 5.1 GEAR 5.2 Inflation targeting and GDP growth 5.3 Financial policy 6 Environment 7 Social services GDP growth GDP per capita 4.6% (Q1 2010) $5,684 (2009) (nominal; 76th) $10,136 (2009) (PPP; 79th) GDP by sector agriculture (0.9%), industry (20.6%), services (78.5%) Inflation (CPI) Population below poverty line Labour force 4.6% (May 2010) 50% (2000 est.) 17.32 million economically active (2009 est.) Labour force by occupation agriculture: 9%, industry: 26%, services: 65%...
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...WORKBOOK ANSWERS AQA AS Sociology Unit 1 Families and Households This Answers book provides some possible answers that might be given for the questions asked in the workbook. They are not exhaustive and other answers may well be acceptable, but they are intended as a guide to give teachers and students feedback. The responses for the longer essay-style questions are intended to give some idea about how the exam questions might be answered. Again, these are not the only ways to answer such questions but they can be treated as one way of approaching questions of these types. Topic 1 Functionalist and New Right views of the family How have functionalist and New Right thinkers explained family life and the relationship between families and social change? 1 The organic analogy refers to the extended comparison made by functionalists between the human or other living body and society, with the organs of the body equivalent to institutions and structures in society. 2 Primary socialisation refers to the first and most important stage of the socialisation process by which young children absorb the norms and values of their culture, mainly from their parents. Note: make sure your answer explains both ‘primary’ and ‘socialisation’. 3 One way in which the nuclear family is more suited than other types of family to modern industrial society is that it allows for geographical mobility; it is easier to move a nuclear family to a new area for, say, a...
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...WORKBOOK ANSWERS AQA A2 Economics Unit 3 Business Economics and the Distribution of Income This Answers book provides answers for the questions asked in the workbook. They are intended as a guide to give teachers and students feedback. The candidate responses supplied here for the longer essay-style questions are intended to give some idea about how the exam questions might be answered. The examiner commentaries (underlined text) have been added to give you some sense of what is rewarded in the exam and which areas can be developed. Again, these are not the only ways to answer such questions but they can be treated as one way of approaching questions of these types. Topic 1 The firm: objectives, costs and revenues 1 Both private and public companies are privately owned capitalist business enterprises. The difference stems from their ownership. Private companies are owned by private shareholders who can choose the buyer of their shares. Public company shares are listed on the stock market, which means that they have to comply with the rules of the stock market and any member of the public can buy shares in the company. 2 An excess of sales receipts over the spending of a business during a period of time, which can be calculated using the formula: profit = revenue – costs. 3 At any level of output, revenue is calculated by multiplying output by the price at which each unit of output is sold. In perfect competition, because it is always possible to increase...
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...CIMA Certificate C4 – Fundamentals of Business Economics (Part A: Micro) CERTIFICATE C4 FUNDAMENTALS OF BUSINESS ECONOMICS (Part A: Micro) 1 Introduction Economics studies the ways in which society decides what to produce, how to produce it, who to produce it for and how to apportion it. The need to make such decisions arises because economic resources are scarce. Making decisions involves the sacrifice of benefits that could have been obtained from using resources in an alternative course of action. This sacrifice is known as the opportunity cost of an activity. Economists assume that people behave rationally at all times and always seek to improve their circumstances. • Producers will seek to maximise their profits. • Consumers will seek to maximise the benefits (their 'utility') from their income. • Governments will seek to maximise the welfare of their populations. The...
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...Fundamentals of human resource management African Studies Centre / University of Groningen / Mzumbe University African Public Administration and Management series, vol. 2 Fundamentals of human resource management Emerging experiences from Africa Josephat Stephen Itika Published by: African Studies Centre P.O. Box 9555 2300 RB Leiden asc@ascleiden.nl www.ascleiden.nl Cover design: Heike Slingerland Photos: Evans Mathias Kautipe Printed by Ipskamp Drukkers, Enschede ISSN 2211-8284 ISBN 978-90-5448-108-9 © University of Groningen / Mzumbe University, 2011 To all those who believe that African countries, organisations and people have a contribution to make in the meaningful adaptation and application of Eurocentric concepts, theories, assumptions, principles, techniques and practices and in anticipation that such contributions will liberate African managers from mismanagement and inefficiencies. Preface This book is not just one of the many introductions to Human Resource Management that are published, year after year, for use in HRM classes. Authors of those introductions face many challenges, such as the need to produce something that is both theoretically sound and practically valuable, or to find a way to integrate discussions on a variety of topics into one comprehensible teaching tool. The author of this book took up those challenges by, on the one hand, closely following the conventions that HRM scholars all over the world adhere to with regards to the demarcation...
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...(alone or single) + polein πωλεῖν (to sell)) exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few entities dominating an industry).[2]Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods.[3] The verb "monopolise" refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge high prices.[4] Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market).[4] A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service; a monopoly may also have monopsony control of a sector of a market. Likewise, a monopoly should be distinguished from a cartel (a form of oligopoly), in which several providers act together to coordinate services, prices or sale of goods. Monopolies, monopsonies and oligopolies are all situations such that one or a few of the entities have market power and therefore interact with their customers (monopoly),...
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...Chapter 1: The purpose of Business Activity The economics problem: needs and wants. Basically, all humans have needs and wants. Needs are things we can't live without, while wants are simply our desires that we can live without. We all have unlimited wants, which is true, since all of us want a new PC, a car, new graphics card, etc. that we actually do not need to live. Businesses produce goods and services to satisfy needs and wants. Although we have unlimited wants, there are not enough resources for everyone. Resources can be split into 4 factors of production, which are: - Land: All natural resources used to make a product or service. - Labour: The effort of workers required to make a product or service. - Capital: Finance, machinery and equipment required to make a product or service. - Enterprise: Skill and risk-taking ability of the entrepreneur. Entrepreneurs are people who combine these factors of production to make a product. With these discussed, lets move on to the economic problem. The economic problem results from limited resources and unlimited wants. This situation causes scarcity, when there are not enough goods to satisfy the wants for everybody. Because of this, we will have to choose which wants we will satisfy (that will be of more benefit to us) and which we will not when buying things. For any choice, you will have to would have obtained if you didn't spend that money. For example, you would have got a book if you didn't buy the pen...
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...to expand and modernise, and with the opening up of previously restricted industries and sectors to meet WTO commitments; opportunities continue to develop. Grant Thornton Vietnam has prepared this guide to assist those interested in doing business in Vietnam. This guide does not cover the subject exhaustively. However, it is intended to answer some of the more important questions that may arise. When specific problems occur in practice, it will often be necessary to refer to the laws and regulations of Vietnam and to obtain the appropriate professional advice. This guide contains only brief notes and includes legislation in force as of 28 January 2013. We hope this guide helps you in learning about and understanding business in Vietnam. Should you require professional assistance we will be only too willing to meet you to see if we can help. Page 3 of 52 Country profile Summary Vietnam is a rapidly developing country with a dynamic and emerging market economy. Located in South East Asia, the country has positioned itself as a focal point for investment, boasting an average annual GDP growth rate of 6.7% over the...
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...3 Levels of strategy 19 3.4 Types of Strategy 19 3.5 Other Types of Strategic formulation 22 4 Schools of Strategy 24 4.1 Introduction - Definition - there are three ‘schools’ of strategy 24 Please click the advert The next step for top-performing graduates Masters in Management Designed for high-achieving graduates across all disciplines, London Business School’s Masters in Management provides specific and tangible foundations for a successful career in business. This 12-month, full-time programme is a business qualification with impact. In 2010, our MiM employment rate was 95% within 3 months of graduation*; the majority of graduates choosing to work in consulting or financial services. As well as a renowned qualification from a world-class business school, you also gain access to the School’s network of more than 34,000 global alumni – a community that offers support and opportunities throughout your career. For more information visit www.london.edu/mm, email mim@london.edu or give us a call on + 44 (0)20...
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...judgments and decisions are based. Quality is the key word here. The Key Note reports are an excellent source of such quality information, covering a wide variety of product sectors.” The Chartered Institute of Marketing “We have enjoyed a long-standing relationship with Key Note and have always received an excellent service. Key Note reports are well produced and are always in demand by users of the business library. Having subscribed to Market Assessment reports for a number of years, we continue to be impressed by their quality and breadth of coverage.” The British Library “When we are putting together strategic information for presentations to major retailers and Symington’s Board, the combination of Key Note’s market research and company information proves invaluable. It is accurate and easy to use, and provides us with important insight that we cannot get elsewhere.” Symington’s “I regard Key Note as the number one provider of UK market research. The way Key Note content is packaged and presented is appealing and easy to understand and therefore a must for my taught course students. Its products are complemented by remarkably high levels of customer service.” University of Cambridge, Judge Business School ©...
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