...areas are both important and controversial are due to several components. The first being that in the rural west view that wilderness is an economic liability. The claim is that industries extract natural resources without provision for their renewal. Things such as farming, ranching, and mining fuel economic growth in rural areas. Consequently, it is debated that locking up possible productive resources in the wilderness areas hurt growth of both jobs and tax revenues. On the other hand, others worry about the supply of raw materials. In addition, it is also debated that the majority of income sources in the rural areas are no longer obtained by extracting industries. In matter of fact, it is natural amenities desirable lifestyles and a high quality of life give communities an advantage in attracting and benefiting from tourist, retirees, and entrepreneurs bring additional employment. This debate in my opinion comes down to jobs verses the environment myth that wilderness limits economic growth. The things that need to be looked at would be whether the presence of wilderness is associated with the population growth, income growth, and employment growth. The next thing would be what the wilderness role plays in transforming the structure of local economies. In conclusion, it does not necessarily mean that extractive activities will always be inappropriate. In fact, as long as they are managed in a sustainable manner an if they do not cause degradation and harm to keep the...
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...Date______________ Multiple Choice Questions: 1. Economics is the study of a) Production methods. b) How society manages its scare resources. c) How households decide who performs which tasks. d) The interaction of business and government. 2) United Nations Environmental Program is not concerned with one of these a) Global environmental outlook. b) Nitrogen pollution in one freshwater and oceans c) Global population growth. d) Measurement of ocean levels 3) The problem of equity involves the following a) If property right is assigned to a polluter where the community is poor, the community cannot pay the polluter not to pollute. b) If property right is assigned to the poor community, it will accept location of toxic waste dump and other polluting facilities out of desperate need for compensatory funds. c) In the preservation of open spaces, wealthy communities can buy the spaces but poor communities can’t. d) All of the above 4) Which of the following is an example of external benefit? a) Pollution from a manufacturing plant b) Public health policies mandating vaccinations c) Higher education d) Public health policies mandating vaccinations and higher education 5. Below is a Production Possibilities Frontier (PPC) for an economy. Which event would lead to the shift in the PPC curve from PPC0 to PPC1, (A) external benefits __ or (B) external cost __. [pic] 6. Since World War II, economic growth has been phenomenal and population has grown...
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...In the short-run framework, budget deficits should: A. never be run since they slow economic growth over the long run B. never be run since they crowd out investment in the short run C. be run on a temporary basis whenever the economy is below potential output D. be run on a permanent basis since they can always be financed by printing money C. be run on a temporary basis whenever the economy is below potential output. deficits reduce investment over the long run but may be desirable in the short run if they help stabilize the economy when it falls below potential output In the long-run framework, budget surpluses: A. should be run whenever output dips below potential output. B. should never be run since they crowd out investment in the short run. C. are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment. D. should be run on a permanent basis since they boost saving and investment and stimulate economic growth. C. are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment Budget surpluses are preferable as long as output is at or above potential output. When this is not the case, budget deficits are advisable since they help to stabilize the economy. A government can finance its budget deficit by doing all of the following except: A. buying bonds. B. borrowing from its central bank. C. selling bonds. D. printing money. ...
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...Leslie Chingono G15c4699 Economics 101 Tinotenda Makoni Tutor Period: Tuesday period 5 11:25 Essay 1, Due: 08 August 2015 International Investment Words: 890 Abstract Investment always poses a risk. International investment compounds this risk by adding factors of varying inflation rates, interest rates, exchange rates, and rates of unemployment. When making an international investment these factors must all be considered as well as the economic growth rates in both countries and also the economic outlook for the country to be invested in. economic cycles are often predictable and by taking a look at the trends over the last three years it is possible to make a reasonable prediction of how the economy will unfold in the following years. Despite all of this, it is impossible for exact predictions so when making a recommendation, the element of risk must always be made clear. Investment always poses a risk. International investment compounds this risk by adding factors of varying inflation rates, interest rates, exchange rates, and rates of unemployment. When making an international investment these factors must all be considered as well as the economic growth rates in both countries and also the economic outlook for the country to be invested in. economic cycles are often predictable and by taking a look at the trends over the last three years it is possible to make a reasonable prediction of how the economy will unfold in the following years. Despite all of this, it...
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...The human resources department is responsible for attracting the right people to grow the company. People who are part of the organization may require additional training to better perform its functions and there's where the human resources department. Over time, it is also necessary to offer space to keep them motivated and updated * Human Capital Human capital is a term used in some economic concepts of growth to designate a suppositional production factor dependent not only on the quantity but also the quality and degree of training and productivity of the people involved in a production process. From that initial technical use has spread to designate the pool of human resources having a company or financial institution. Also spoken informally of enhanced human capital with increasing degree of skill, experience or training of persons of such economic institution. * Motivation (leadership) Motivation is internal and specific to each individual process, which involves the implementation of behaviors in staff to a purpose that the company deems it necessary and desirable. It is a process caused by the result of an evaluation of the individual performs a given situation. Leadership is the set of managerial skills or policies that an individual has to influence the lifestyle of people or a certain group of people, making this team work enthusiastically in achieving goals and objectives. Both go hand in hand. * ROI The return on investment is a financial...
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...The nature and effect of innovation in the scope of social entrepreneurship Duvnäs, H., Stenholm, P., Brännback, M., & Carsrud, A. L. (2012). What are the outcomes of innovativeness within social entrepreneurship? The relationship between innovative orientation and social enterprise economic performance. Journal of Strategic Innovation and Sustainability, 8, 1, 68. Innovation and its influence in social entrepreneurship settings are examined. The study of social entrepreneurship is a recent area of inquiry while its practice has been around for some time. The authors acknowledge the existence of innovation in an average business entrepreneurial environment; however, the question of to what degree does innovation have and its effect in a less desirable circumstance as in a social entrepreneurial environment. In the social environment, innovation has caused increase attention to be placed in these settings. The increases are attributed to two indicators, economics a matter of supply and demand and competition for funding. The research examines the theoretical, social and performances as it relates to innovation and determines how these factors connect to other aspects of entrepreneurship. This study contains historical information and a rationale for the increased interest in social entrepreneurship. Duvnäs, Stenholm, Brännback, & Carsrud (2012) acknowledge the formal customs that are normally attributed to a business environment, however, it also provides a theoretical...
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...CHARACTERISTICS OF PURE CAPITALISM Although there are as many economic systems as there are countries, we will discuss the basic elements of pure capitalism. Purely capitalist economies are characterized by exclusive private ownership of productive resources and the use of markets to allocate goods and services. Pure capitalism stands in stark contrast to socialism, which is characterized by partial or total public ownership of productive resources and centralized decision making to allocate resources. Capitalism in its pure form has probably never existed. In all countries characterized as capitalist, government plays an active role in the promotion of overall economic growth and the allocation of goods and services through its considerable control over resources. The reason we examine capitalism in its pure form is essentially twofold. To begin with, most western, developed, economies fundamentally are capitalist, or market, economies. Moreover, and perhaps more important, understanding capitalism in its pure form will better position the analyst to understand deviations and gradations from this “ideal” state. Economies that are characterized by a blend of public and private ownership is known as mixed economies. Most of the discussion in this text will assume that our prototypical firm operates within a purely capitalist market system. Although the complete set of conditions necessary for pure capitalism is not likely to be found in reality, an understanding...
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...Essentials of Economics Study Questions Chapter One 1. The central problem of economics is the: A. Distribution of goods and services to those in need. B. Scarcity of resources relative to human wants. C. Inefficiency of government operations. D. Unemployment of certain factors of production. 2. Which of the following explains why economic choices must be made? A. The factors of production are scarce. B. The factors of production are expensive. C. The factors of production are used inefficiently. D. The factors of production are of inferior quality. 3. Opportunity cost may be defined as the: A. The value of goods or services that are forgone in order to obtain something else. B. Dollar price paid for a final good or service. C. Dollar cost of producing a particular product. D. Dollar cost of the next best alternative resources for producing a good. 4. The concept of opportunity cost would become irrelevant if: A. The market mechanism functioned to allocate resources. B. The government allocated resources. C. The production possibilities curve bowed outward. D. Resources were no longer scarce. 5. Societies must address the question of WHAT to produce because: A. We can't produce all the goods and services we want. B. The amount of money in an economy is limited. C. We are wasteful and use resources inefficiently. D. Our economy experiences market failures. 6. Which of the following is the...
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...Globalization: Blessing or Curse? As the world is turning into an increasingly interdependent place, the economic efficiency is higher than it has ever been before. Being used to the today’s economic environment it is difficult to imagine that every nation has been completely independent at some point in its history. A simple living without import and export, solely relying on the resources occurring in the own country and necessarily going without goods that can’t be produced with existing resources. But being self-sufficient is no longer a desirable ambition, states trying to be self-sufficient quickly get left behind. Reason for this phenomenon is the increasingly occurring competition based on the global exchange of goods and services which was firstly agreed and regulated in 1948 in the “General Agreement on Tariffs and Trade”. As the GATT eliminated trade barriers between at first 23 and later over 120 involved nations (WTO, 2015) it was a decisive event leading to the beginning of the still ongoing revolution called globalization. This technologically driven development opened up new opportunities like economic growth and prosperity. However, despite the wide range of advantages it also brought a strong anti-globalization movement into being which is convinced that it threatens factors like prosperity, political sovereignty, cultural integrity and the environment (Osland, 2003). In the following I will take a closer look at some points dividing the minds. The main advantage...
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...information and communication technologies (ICT). The Internet is widely thought to represent not just a new form of communication, but instead a new organizational form of modern society (Castells 2002) The imaginary of an ‘Internet revolution’ has been readily adopted in discussions of economic development. Development practice has always employed existing links and created links between developers and those who are being developed. Those links (e.g. roads or Internet connections) are not only integral to the actual implementation of development, but are also often justified as desirable in and of them. However, unlike past links between developers and developing, the Internet appears almost free of spatial constraints: any two computers can connect to one another irrespective of geographic location. INTERNET PRINCIPLES: * The Ability to Connect. The edge-dominant end-to-end architecture of the Internet is essential to its utility as a platform for innovation, creativity, and economic opportunity. * The Ability to Speak. The Internet is a powerful mass medium for self-expression which depends on the ability of its users to speak freely. * The Ability to Innovate. The remarkable growth of the Internet and the limitless variety of Internet applications follow directly from the open model of Internet connectivity and standards development. * The Ability to Share. The many-to-many architecture of the Internet makes it a powerful tool for sharing, education, and collaboration ...
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...Less is more and the seven generations: alternatives to economic growth More or less? We love comparing, measuring, rating, and quantifying things. It started in school, who does better at school, who’s better at sports, who has more toys? It followed into puberty, with who owns the better clothes, who has the most dates, who goes to the better college? And finally, straight into adulthood comparing jobs, income, house sizes and cars. Excuse me for my bluntness, but in a world with 7.4 billion people and an infinite number of categories in which to compare yourself, there will always be someone that has more, or is “better” than you are in some way. Nevertheless, is more always better? Or could the opposite be true, could less be more? More is more We have grown up surrounded by abundance, and we are always achieving for more and aspiring to get the next best thing. We work more hours to get paid more to buy more things in the hopes of being happier. This belief is somewhat true. Income and happiness are related to a certain extent. An increase in the level of income is positively related to an increase in the level of happiness, until achieving an annual income of approximately 13,000 USD. After this point, happiness remains stable even when the income increases.1 Since 1950, GDP per capita in countries like the UK and the US has more than tripled, but people there are not any happier than before. Why is that? World experts in the subject of happiness...
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...SOCIO CULTURAL CHANGEs IN PAKISTAN Acknowledgement All praises and thanks are for Almighty ALLAH Who is the source of all knowledge and wisdom endowed to mankind and to the humanity as a whole. And a great thanks to our coordinator and instructor, Mr. Mehmood Hussain. The encouragement and assistance of our parents and friends are gratefully acknowledged. Sociocultural changes in Pakistan Question: Make a list of all the recent (last 20 years) sociocultural changes in every aspect/field (Business, Environment, Technology, Education, Politics etc.) of Pakistani Society, which people consider desirable and undesirable? Discuss with logical reasoning and related example from Pakistan. Table of Contents Change in Politics.................................................................................. 3 Change in Family System ..................................................................... 5 Change in Job Opportunities ............................................................... 8 Change in Business ............................................................................. 10 Change in Thoughts About Religious People .................................... 11 Change in the Pattern of Infrastructure ............................................ 12 Change in Marriage Patterns ............................................................. 13 Changes in Social Get Together ......................................................... 14 Changes in Health Awareness...
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...Street Capital: a worldwide company for investment and banking that is committed to excellence, leadership, integrity and service in delivering corporate economic advisory services, acquisition and merger expertise valuation services to privately and publicly held businesses. These are the services that position the clients of Madison Street Capital to have success in the universal market place.in taking up every new project, the client’s goals and objectives become Madison’s objectives too. These objectives range from economic advisory and successful investment raises to M&A transaction to transfer of ownership. Madison Street Capital. Critically views the emerging markets as the main and core components that drive the international growth of the clients. This company continues to focus on significant assets that are on the market for their clients. Over the years, the firm has earned the trust of their clients internationally through their unwavering commitment to the levels of expert values. As the company continues to provide financial opinions to major organizations, it has also focused expertise in trying to partner with middle-market companies in order to successfully traverse through complex dealings and achieve the best and desirable possible outcome. The company has financially experienced professionals who are always at the table with their clients and decisions are made as options emerge thereby providing refined guidance and skilful financial advice from preliminary...
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...3 Measures for Promoting Exports in the Short and Medium Terms Mainstream India has emerged victorious in the recent recession, which started in the US and engulfed the whole world in a short span of time. India could be able to secure respectable rates of growth even post-crisis years (except last two years 2012-13 and 2013-14), which were the second highest in world after China. The recent revision has improved the GDP growth rates of the last three years as well, though it raises the suspicion about its accuracy owing to opposite evidences at other fronts. This was mainly because of the domestic-led demand of the Indian economy and stimulus measures initiated by the government at the fiscal and monetary policy levels. However, the exports of India suffered a great deal as a result of the sagging demand in the world economy in general and its main trading partners’ economies in particular. During 2015-16, India's exports of goods shrank by nearly a quarter in September from a year ago, falling for a 10th straight month and threatening Prime Minister Narendra Modi's goal of boosting economic growth through manufacturing. "We see no signs of revival in exports in the near future," said Ajay Sahai, director general of the Federation of Indian Export Organisations. "We will be lucky if exports could even touch $265 billion to $270 billion for the whole year." This is in-spite of the slew of measures to boost up the exports. The last measure to promote the exports...
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...a) According to David S Watson scarcity means availability in amounts less than sufficient to satisfy all wants or desires. The test for scarcity is price hence only goods that are not scarce command a price.Therefore economists try to explain how this economic problem is solved by different economic systems. There are three economic systems that exist in the world today that is the free market, command and mixed economy. These economic systems have different ways in which they try to answer the fundamental economic questions of “What? How? And for whom to produce for? Samelson and Nordhaus define a market economy as an elaborate mechanism for cording people, activities and business through the a system of price and markets. Production is mainly driven by the market forces of demand and supply, which determine price hence it is termed as the price mechanism. The USA is an example of what can be simply classified as a market economy. Thus by matching sellers and buyers in each market, the three fundamental questions of what? How?, for whom?. Consumers determine what goods and services will be produced by their dollar votes, which means their daily purchasing decisions. Firms in the market economy are profit motivated therefore they abandon areas where they are losing profits and lured by high profits into production of goods in high demand. The question of “How” goods and services are produced is determined by the competition among different producers. Hence the best way for...
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