INDIVIDUAL ASSIGNMENT Q1. What is meant by the term resources? What are the four factors of production and explain the factors incomes associated with each factor of production (20 marks) a) Resources means being able to produce something that can be a good or service. For e.g. the sun‚ trees‚ natural gas‚ materials‚ staff. b) The four factors of production are land‚ labor‚ capital and entrepreneurship. (i) Land- is considered the natural resources or raw materials we find on the earths surface
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industry has seen a fast growth in China before 2008 due to increasing demand from both of overseas market and domestic market. However‚ in the past five years‚ China’’s Citric Acid production has been expanding slowly due to demand increase very slowly. What’’s more‚ the price of citric acid’s raw material witnessed the uptrend in the same period. What has happened in the citric market in past five years? How is the current competition structure of citric acid in China? Who are the leading producers
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Table of Contents Background The Tort Liability Law of the People’s Republic of China (‘Tort Law’) which was passed on December 29‚ 2009‚ came into effect since July 1‚ 2010. It is believed that more and more public affairs could damage civil benefits as a result of the rapid development in china’s economy and society. As the response to the growing number of social issues in China‚ such as the ‘Sanlu’ milk-powder scandal‚ Toyota recalls and cases of contaminated toys‚ the Tort
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Abstract China launched its economic reforms and open door policy in 1978. A country having largest population‚ it attracts a pool of foreign investors towards its economy. Since then the economy went through a series of regulatory and political changes‚ global and domestic factors surrounded the economy‚ and it emerged as the second largest economy in the world registering a positive growth in its GDP consecutively for almost two decades. The economic situation prevailing globally requires the
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The impacts of new technology of rice production in China Rice is one of the main stable food in China which has the largest population in the world. Because of the large amount of population‚ food stabilization and food security play significant roles in China‚ so in recent decades‚ many new technologies have been used in agricultural production. This paper will mainly discuses the economic impact of new technology in rice production‚ for example‚ how does new technology like Green Revolution
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WHAT IS MANAGEMENT? Management can be defined in various ways. In the words of Pride et al‚ management is the process of coordinating the resources of the organization to achieve the primary goals of the organization. It is also defined as the organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of defined objectives. Taylor defined management as knowing exactly what men do‚ and the seeing that they do it in the best and cheapest
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An analysis of the factors affecting the production of generic drugs Generic drugs are the replicas of original drugs. These can be divided into two categories‚ authorized and unauthorized. Authorized generic drugs are the medicines which comply with the international code‚ Trade-Related aspects of Intellectual Property Rights (TRIPS)‚ while the drugs which infringe the patents of brand-name drugs and do not comply with this code are regarded as unauthorized generic drugs. Recent publications
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ENVIRONMENTAL FACTORS External environmental factors include sociocultural‚ Legal‚ Economic‚ Political‚ and Technology. The micro environment on the other hand comprises the industry and market. SOCIOCULTURAL FACTORS. Religion‚ education‚ ethnicity‚ education and language‚ age group‚ family‚ cross cultural differences. In 1978‚ the Chinese government introduced a birth control policy of one child per family. (Newsweek 2014) This in the long run will reduce both sales and labor availability
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Little Sheep‚ the China’s leading hot pot chain‚ operates about 480 restaurants in China‚ Japan and even in North America nowadays. The success of the business and its rapid growth in the past decade can be contributed by 3 factors: (1) strong desire for achievement of the founder‚ Zhang Gang; (2) economic reform programs launched in China since 1980s causing the significant increase in GDP per capital; (3) partnership with 3i in order to strengthen its industry expertise and management team. The
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reduction maneuver. Competition among companies‚ is considered to be the main factor behind outsourcing and because of globalization‚ this practice has become ubiquitous in corporate environments. Airbus‚ the main competitor of Boeing‚ manufactures their aeronautical components throughout Europe and consequently assembles them at a single location; this method provided Airbus with a significant increase in production capabilities. Boeing‚ following the Airbus manufacturing strategy‚ intended to
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