Assignment 1. Explain the difference among these four types of economic systems. Give an example of a country that illustrates each type of system. Market capitalism is an economic system in which the price and productions of goods and services are determined by their availability and consumer demand rather than by government or state regulation. An example of market capitalism would be the United States’ mixed market economy from which goods are produced, bought, and sold with prices and production
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objectives of its different stakeholders 4 1.3. Explain the responsibilities of an organisation and strategies employed to meet them 5 Task 2. The nature of the national environment in which your chosen business operates 6 2.1. Explain how economic systems attempt to allocate resources effectively 6 2.2. Assess the impact of fiscal and monetary policy on business organisations and their activities 7 2.3. Evaluate the impact of competition policy and other regulatory mechanism on the activities of
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Petrol engine general gasoline spray into the air inlet pipe with air mixed be combustible mixture into the cylinder, spark plug combusts expansion work. People usually call it spark ignition engines. And is generally through the fuel injection pump and diesel engine fuel injection nozzle, direct injection diesel engine cylinder and the cylinder Canon of compressed air mixing, spontaneous combustion under high temperature and high pressure, forces the pistons to work. The engine is often called compression
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2. LO1 UNDERSTAND THE ORGANISATIONAL PURPOSES OF BUSINESSES 2.1 PURPOSES OF DIFFERENT TYPES OF ORGANISATION (P1.1) Different types of organizations have their own business policies, structure, and strategies and so are their purposes. So, whatever the business organizations there must be some specific purposes for which the organization was established (Nordhaus, 2009). The major organization’s types are sole proprietorship, partnership and corporation. The following organizations are analysed
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based on economies of scale, theory of national competitive advantage: Porter’s diamond. 3. Global Business Environment 10 hours Political, Economic and Legal Environment Political systems: individualism vs. collectivism; democratic vs. totalitarian, legal system: property rights, protection of intellectual property, product safety requirements, economic environment: market economy, command economy & mixed economy, interconnection of political, legal and economic system followed by
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b) Economies of Scale in material purchasing: When a company achieves economies of scale lowers their average cost per unit through increasing production since fixed costs are shared over an increased number of goods (Hindle,2008). When a company starts growing and their production units starts increasing, the company will have better luck decreasing the costs of their product. Economic growth may be achieved when economies of scale are realized (Heakal,2009). Two types of economies of scale
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government involvement are moderately explained in this paper on how these two country’s businesses are presently being run. Macroeconomics Hong Kong is valued as a first-class business platform. Their success comes from a “one country, two systems” agreement that has been arranged by means of the Chinese mainland (export.gov, 2012). This agreement assures all the major strong points continue to be unaffected while allowing Hong Kong to propose innumerable economic benefits not established on
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The Business Environment At the end of the lesson you should be able to: 1. Analyze the nature of organization being a system of inter-dependency 2. Understand how the environment influences the way business work The environment is the totality of surrounding conditions alias he sum total of all the external conditions that effect an organism, community, material, or energy. Business Environment of an organization refers to the elements that affect the achievement of it aims. Change
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justifiable response to Capitalism? An economic system is the combination of the various agencies, entities that provide the economic structure that defines the social community. These agencies are joined by lines of trade and exchange along which goods, money etc. are continuously flowing. The economics system involves production, allocation of economic inputs, distribution, consumption of goods and services in an economy. An economic system is a set of principles by which problems of economics are
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various times of the day will give you a rough idea of what the new business may be up against. Capitalism Capitalism is based on free market; you can open whatever business and charge whatever you want. The government has NO hand at all in the economy or in business, whether small or corporate. The idea is that the competition between the sellers is what will make the products
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