replaced with smart devices that can carry out a transaction. Iphone companies are offering free applications on their phone so that we can buy and sell things right from our pockets such as ebay and paypal which will be much easier for people than carry loads of cash or a debit card everywhere. Paper money has been declining for quite a while since technology has kicked in and nobody ever mentions the positives and the benefits of a cashless world. Blood money‚ illegal trade‚ and selling of drugs would
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supply. Thus OPEC is of immense importance in world commerce. Purpose – OPEC ’s objective is to Co-ordinate and unify petroleum policies among Member Countries‚ in order to secure fair and stable prices for petroleum producers an efficient‚ economic and regular supply of petroleum to consuming nations‚ and a fair return on capital to those investing in the industry. Why do fuel prices vary in different countries? (Ref:-Shell.com/India) Cost of buying finished product in the country (country
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been an on going debate as to whether or not hosting so called “mega sporting events” is beneficial to the hosting nation and cities‚ either economically or socially. In the early years of mega events the view that hosting one of these events was an economic burden was the view of almost everybody who mattered. However after a profit of $ 200 million profit was generated by the 1984 Los Angeles Olympics‚ many peoples view’ changed. According to Matheson and Baede 2002‚ “The prevailing perception seems
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Economic Growth Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product‚ or real GDP. Growth is usually calculated in real terms‚ i.e. inflation-adjusted terms‚ in order to obviate the distorting effect of inflation on the price of the goods produced. Economic growth typically refers to growth of potential output‚ i.e.‚ production at "full employment". It
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Economic Growth Economic growth is defined as a long-term expansion of the productive potential of the economy. Sustained economic growth should lead higher real living standards and rising employment. Short term growth is measured by the annual % change in real GDP. Economic growth is an increase in real national output or an expansion of the economy’s long-run productive potential. It is measured by the percentage change in real GDP or GNP. Inevitably there are fluctuations in the rate of growth
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MOI UNIVERSITY WEST CAMPUS KIPTAGICH CENTRE NAME REG NO Annette. A. Omondi CPR/1000/11 Elseba Kokeyo CPR/1001/11 COURSE CODE: CMM 40 COURSE TITLE: LESCTURER: Mr Masinde TASK: Assignment QN: Discuss democracy while paying special attention to; definitions‚ principles and the role of media in the promotion of democracy. DEMOCRACY INTRODUCTION Democracy can be defined first and foremost as a system of government that involves the replacement
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Which of the following is the best definition of economics? the study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided Opportunity cost is that which we forgo‚ or give up‚ when we make a choice or a decision. The reason that opportunity costs arise is that resources are scarce. If your tuition is $5‚000 this semester‚ your books cost $600‚ you can only work 20 rather than 40 hours per week during the 15
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where they live; and consumers typically have a very limited set of goods to choose from. As a result‚ many of the tools and concepts of microeconomics are of limited relevance in those countries. •macroeconomics Branch of economics that deals with aggregate economic variables‚ such as the level and growth rate of national output‚ inter· est rates‚ unemployment‚ and inflation. Trade-Offs In modern market economies‚ consumers‚ workers‚ and firms have much more flexibilityand choicewhen
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ECONOMICS OF GLOBALIZATION SAURABH SINGH SCHOOL OF BUSINESS (2012) (GALGOTIAS UNIVERSITY) Name: Saurabh Singh MBA(Batch 1) 12SOB102234
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activities‚ social and economic factors and technological developments. Social or Societary environment of business means all factors which affects business socially . Every business works in a society ‚ so societies ’ different factors like family ‚ educational institutions and religion affects business . Economic dimensions of environment Economic environment refers to the aggregate of the nature of economic system of the country‚ the structural anatomy of the economy to economic policies of the
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