Attention economy

to countries or places outside their usual environment for personal or business/professional purposes’(UNWTO, 2014). The tourism industry has expanded rapidly worldwide over recent years and progressively become an essential element of the world economy. There are many reasons for the expansion of the tourism industry such as the vast improvements in transport technology and infrastructure, allowing more and more people from geographically diverse regions to travel and explore with greater ease…

industries with international tourism accounting for 9% of the total GDP and one in every eleven jobs are related to tourism (Meleddu, Pulina, 106, 67). However, tourism by itself leads to various negative externalities on the environment, socio-economy, and local culture (Meleddu, Pulina, 106, 67). For this reason, ecotourism is important and is slowly gaining momentum. Ecotourism can be subdivided or classified into various categories such as sustainable tourism, scientific tourism, nature…

Mineral resources is a concentration of naturally occurring solid, liquid, or gaseous material in or on the earth’s crust that can be extracted and processed into useful materials at an affordable cost. Mineral resources are essential to support sustainable economic growth and our quality of life. Therefore, it is important to have sufficient supply of materials to provide for infrastructure, buildings, energy and goods. However, since mineral resources are nonrenewable natural resource, and…

The great Reverend William Lawrence of Massachusetts once said, “there is a certain distrust on the part of our people as to the effect of material prosperity on their morality.” In Mohandas Gandhi’s speech, “Economic and Moral Progress,” Gandhi’s focal point is differentiating between the monetary growth of society and the chastity that one embodies. Throughout the course of time, mankind has proceeded to tie itself to the concept that our progression and prosperity as human beings in the field…

a country with low production factories and industrialization leaves its citizens prone to an increase in income gap between skilled and unskilled workers. For example, Mexico is a developing country of the Latin America, who slowly maintains its economy by accepting major contracts with recognized automobile factories such as General Motors and Chrysler. Therefore, industrialization clearly suggest an increase of capital revenue as well as massive inflow of foreign capital. However, although…

During the industrial revolution emergence of consumption has shifted almost everything.Now, we live in a capitalist society which is forcing us to consume more.Therefore, people were divided into two groups under the question of does consumption make people happier? This is an ongoing debatable topic on the relation between consumption and happiness.However, the typical approach to consumer action in economics takes utility to be a supportive activity of the level of consumption of goods and…

Population further increased to 740,000 in 2013 . Besides, the economy has changed. According to official census on labor force, in 1994 to 2004, gross regiona product has shown a five-fold increase. Proportion of primary production on GDP decreased to 9.04%, that of secondary sector dropped to 24.32%, and that of tertiary sector increased to 66.64% . While tertiary sector became the major source of income, dominance of agrarian economy declined. The actual production in each sector, however,…

5.2.6 Liquidity Liquidity is the amount of cash available for farm production at the start of the simulation period. It is required for a variety of activities, such as covering the costs of the inputs for cropping (e.g. fertilizer, herbicides), hiring additional labor and hiring labor to clear forest. In the survey households were asked about their monetary savings and cash, however no answers were provided by the respondents. Therefore, the credit limit is used as a proxy to quantify cash…

Economies of scale Flow 1) Examples how economies of scale is helpful, 2) New technology and economies of scale. 3) Critic of economies of scale. 4) Economies of scope(From PDF) 5) Govt initiatives to achieve economies of scale. Economies of scale: The change in long run average cost as output increases is the basis of economies of scale. A firm enjoys economies of scale in a situation where average cost goes down when output goes up while if the average cost increases with…

degradation, despite increases in technological advancement, all point to the existence of these “geopolitically undercutting” trends. The subterranean trend which underlies a significant portion of Expulsions: Brutality and complexity in the Global Economy, is the trend of expelling individuals and biospheres which fail to contribute to the idea of growth in post 1980s advanced capitalism. After dissecting specific and distinct instances of expulsion, this trend very apparently underlies the…