Cost-of-production theory of value

could be written, and finally, paper is widely used in today’s society. Cai Lun thought of the idea of inventing paper after visiting a village and noticed that there was a thin layer of material left on a bamboo mat. He was then inspired to make a cost efficient material that could be used for communication and writing down ideas (Cai Lun). He spent approximately…

of working capital. some arguments concluded a basic definition and categorizations of working capital display a first learning stage, focusing an understanding of working capital features and searching for general concepts between working capital theory and practice. We can say that the early definition of working capital was settled by Mann (1918). He defined working capital, as the amount of money necessary to fund…

The field of business attracts those who are willing to go over and beyond to get the job done, it attracts the relentless few who believe failure is not an option. Working as a manager for a restaurant of a national chain I decided that I wanted more not just to be the manager of one store but to be in charge of number of stores or to work at the corporate offices focusing on growth and development throughout the company. More so, to full fill my dream of opening a fine dining restaurant with…

Value chain activities • Lothamilk’s inbound logistics: The inbound logistics for Lothamilk refers to selecting the healthiest dairy cows in order to produce the best quality of milk. In the case of Lothamilk, the milk is collected directly from the dairy farms across Vietnam. The milk will be transported to the processing factories in order to process and package milk into different products such as yoghurt, cheese, and milk power. These are now ready to be delivered to the distribution centers…

was destroyed. In this event, more than 1000 people were killed in this catastrophic accident (BBC News). As based on a video documentary from The New York Times, titled Rana Plaza Collapse Documentary: The Deadly Cost of Fashion, this was the deadliest accident in the garment production history to date (Fitch). But on the standards of business and moral ethics, this was not an accident at all. In fact, there are multiple parties to blame in this incident in Bangladesh. In this case, the…

As the largest supplier of healthcare products across the country, Halsey Health Products focuses strictly on gross-profit-dollar-oriented company goals. As a result the main character expresses a strong corporate mentality, constantly rationalizing her options with possible consequences of missing profit goals. As a market manager she realizes there are various things at stake for her and her employer. Clearly, Halsey Health Products’ primary responsibility is providing safe products to the…

deciding how the economy spends its productive capacity. In Veblen’s writing The Theory of the Leisure Class, he presents critical thinking and theories that pertain to the habits of individuals in society and their related social norms. Both economists present their ideas from the view of institutional economics. This perspective emphasizes the salience of the role that institutions play in shaping the social values and norms that constrain human economic behaviour. The notions of institutional…

In theory, the commodity market shocks the stock market through affecting the performance of listed companies and the plate linkage, while the stock market influences the commodity market by reflecting the macroeconomic expectations. At the same time, the cross-market flow of funds leads to a competitive and alternative relationship between the two markets. In this point of view, the relationship between the two markets exists uncertainty and complicacy. The impact of the commodity market on…

government. The people who live in the Capitol, however (place where all wealthy and powerful people live, not to be confused by the government) are perfectly fine as they follow the government’s beliefs and values. As a result of this, the economic model portrayed in this film is both a Command…

Keynesian Economics is when the economic output is strongly influenced by aggregate demand, which is the total output spending in the economy. This theory is better known for understanding the Great Depression. Keynes argued that insufficient demand will lead to lengthy unemployment. According to this revolutionary idea there are four components that sum up the economy, that being said, the economy has consumption, investments, government purchases, and next exports. These four components are…