International Drug Trafficking is rated in the top five of the most common crimes and top three for the serious impact it has on people and the economy positively and negatively. The sources that have used have been peer reviewed and each of them explain the different kind of impact International Drug Trafficking offers not…
Frederick Douglass once said, “If there is no struggle there is no progress.” The desired life is only achievable through hard work and struggle. Henry David Thoreau and Adam Smith both agree that struggle is needed but disagree on who must struggle for this gain. Throughout history, different groups of people have had to suffer…
Frederick Winslow Taylor (1856-1915) was an American inventor and engineer who is known as the father of scientific management (Mee, 2018). Scientific management is that kind of management which conducts a business or affairs by standards established by facts or truths gained through systematic observation, experiment, or reasoning (Robert, 2007). Taylor was all set to…
Introduction and problem Sugar consumption is a serious problem globally. In our current food environment, it is too easy to eat too much sugar. Major sugar intake causes health problems such as obesity, diabetes, and tooth and gum problems. Obesity, a huge problem in our society, leads to diabetes, heart problems, cancer, and other diseases.…
Brexit refers to the referendum where Britons voted to exit from the European Union and this had implications for both EU and Britain. The essay will explain factor which contribute to Britain exit which includes national autonomy, Britain was paying more and immigration .More over Brexit had more negative impact on the economy of Britain…
Null hypothesis: is the claim being assessed in a hypothesis. For a claim to be a testable null hypothesis, it must specify a value for some population parameter that can form the basis for assuming a sampling distribution for a test statistic. Alternative hypothesis: The alternative hypothesis proposes what we should conclude if we find…
The OD cycle is a framework that is used to solve problems that have been identified in a firm. Since a problem might adversely affect a firm’s objectives, it becomes important for the management to get rid of it as soon as possible. The OD cycle outlines the steps the firm ought to follow to…
You’ve generally thought about how life would resemble being incredibly wealthy, it generally enters our thoughts when we find out about the lottery. The glorious dreams of a lavish way of life interest us as we scratch out that lottery card. In any case, what are the chances of winning? The insights are overpowering to…
18.1 – 8a – globalization: characteristics and trends Globalization – the movement toward a more integrated and interdependent world economy People are buying more foreign products 16.1 – International Trade – absolute and comparative advantage Why nations trade Specialization is an important reason for trade Exports – the goods and services that a nation sells…
12.1 – measuring the nation’s output and income Macroeconomics – part of economics that deals with the economy as a whole and uses aggregate measures of output, income, prices, and employment Gross Domestic Product is one of the most important macro measures that keep track of nation’s production, consumption, saving, and investment. GDP – The…
Unit 6 – Money, Banking, and the Fed Chapter 14.1 – The evolution, functions, and characteristics of money Federal Reserve System (Fed) – private owned, publicly controlled central bank of the united states Federal reserve note – paper currency issued by the Fed in use today The evolution of money Barter economy – moneyless economy…
Section 9.1 – economic impact of taxes When a tax is placed, the good or service raises the cost of production and the price of the product With less products sold, resources has to be cut from a business Can be used to encourage/discourage certain types of activities Sin tax – relatively high tax designed…
Free enterprise capitalism Voluntary exchange Profit motive Economic freedom Private property rights Competition – businesses attract consumers; consumers obtain the best products at lowest prices 7.1 – competition and market structures Laissez-faire – philosophy that government should not interfere with business activities Market structure – nature and degree of competition among firms in the same…
Sole Proprietorships Sole proprietorship – business owned and run by a single person who has the rights to all profits and unlimited liability for all debts of the firm Easiest form of business to start Management is relatively simple Owner can keep the profits without having to share them with other owners Proprietorship does not…
Chapter 4.1 – What is demand? Demand – combination of desire, ability and willingness to buy a product Microeconomics – part of economics that studies small units, such as individuals and firms An introduction to Demand Market economy – economic system in which people and firms make all economic decisions Demand schedule – a table…
Unit 1 – What is economics Chapter 1.1 – scarcity and the science of economics The fundamental economic problems Societies do not have enough productive resources to satisfy everyone’s wants and needs Scarcity – fundamental economic problem of meeting people’s virtually unlimited wants with scarce resources Economics – social science dealing with how people satisfy…
Management Financial management refers to the coordination of a business’s accounting and finance activities. Accounting: management tool used to record financial transactions to provide a summary of the business’s financial position. Finance: coordination of how a business funds (pays for) its activities Key elements include: Financial planning Financial control Financial decision making Business: an organization…
The Classic Welfare State was initiated by the Labour’s Beveridge Report which aimed to eliminate the ‘five giant’ towards post-war reconstruction[1]. This essay will argue to a small extent the classic Welfare State promote a more egalitarian society. It is because cost and benefit were not often equally shared under the system, within difference socio-economic…
ADAPTATION – The process of adjusting to a different environment. BRANDING – A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. CROSSCULTURAL SYMBOLS – The meanings of symbols across several cultures. CUSTOMS BROKERS – An authorized agent specialized in customs clearance…
International Business: Includes all commercial transactions (such as private and governmental, sales, investments, and transportation) that take place between two or more regions, countries, and nations beyond their political boundaries Balance of Trade: The difference in value between a country’s imports and exports Balance of Payments: The difference in total value between payments into…
