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18 Cards in this Set
- Front
- Back
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What is the homo economics and human being |
Homo economicus, or economic man, is the figurative human being characterized by the infinite ability to make rational decisions. Certain economic models have traditionally relied on the assumption that humans are rational and will attempt to maximize their utility. Modern behavioral economists and those who study neuroeconomics, however, have demonstrated that human beings are, in fact, not rational in their decision-making |
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Def of organisation |
A community of people at the service of the society as a whole aimed at productions of products and services to satisfy needs the |
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The nature of enterprise and social role |
Yeah |
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What is the homo economics and human being |
Homo economicus, or economic man, is the figurative human being characterized by the infinite ability to make rational decisions. Certain economic models have traditionally relied on the assumption that humans are rational and will attempt to maximize their utility. They are self interestedx autonomous Modern behavioral economists and those who study neuroeconomics, however, have demonstrated that human beings are, in fact, not rational in their decision-making. They are cooperative and member of social groups |
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What are the responsabilities of firms leaders 3 |
1) economic : create economic wealth 2) social : generate positive impact on society 3) environmental : defend natural resources |
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Difference between entereneuship and management |
Enterpreniuship is a process which leads an individual to invest personal resources for the creation and management of a new organisation designed to pursue an innovative opportunity Management is not science, not more of a profession. It’s mostly about skills |
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What are the responsibilities of management in firms |
Huh |
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What are the responsibilities of management in firms |
Huh |
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What’s the role of profit in the enterprises life |
Ahah |
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What is at the core of every economic activity ? Discuss the pryamids of needs |
At the core of every economic activity is the necessity to satisfy needs in order to achieve individuals satisfaction. Maslows theory’s of needs. |
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Economic goods vs non economic good |
An economic good is a good or service that has a benefit (utility) to society. Also, economic goods have a degree of scarcity and therefore an opportunity cost. For example, if we pick apples from a tree, it means that other people will not be able to enjoy them While non economic good A is a good with zero opportunity cost. This means it can be consumed in as much quantity as needed without reducing its availability to others. Such as air |
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Explain some categorisation of economic goods |
1) Private goods : consumption by one individuals prevents another individual form us 2) public goods: consumed by the whole 3) disposable ( after a short time after purchase) such as fruity 4) substitute ( perceives as the same or similar to other goods) 5) complementary ( paired good) 6) differentiate 7) commodity |
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Key features of the four classes of social entities |
Gosh |
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Key features of the four classes of social entities |
Gosh |
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The levels of specialiasatyon in modern activities |
Ahah |
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Key features of the four classes of social entities |
Gosh |
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The levels of specialiasatyon in modern activities |
Ahah |
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The main advantages connected to specialization |
AHAHHA |
