Economic efficiency

replaced by short benzenethiol ligands, and the improvement in the luminescence performance was observed in quantum dot light emitting diodes (QD-LED). Approximately 1.8 fold improvement was achieved for both the maximum luminance and maximum current efficiency for the QD-LEDs fabricated with bezenethiol ligand QDs. The turn-on voltage was reduced by ∼0.6 V by shifting the energy level of QDs with the benzenethiol ligands when compared to the conventional OA and TOP ligands. The mobility of the…

Assignment 2 competitive private enterprise economy tends to have higher efficiency Fallacies exist in our daily life, and economics seems suffered from this kind of problems the most compared with other subjects like physics, mathematics or medicine. According to Henry Hazlitt (1979), this is because of self-interest of groups and the persistent tendency of people. For the first one, in oder to pursue certain economic self-interests, some relevant groups would preach some policies which…

Vilfredo Pareto graduated from the University of Turin and practiced as a civil engineer before switching to economics, and becoming a famous economist known for his application of mathematics to economic analysis. Pareto’s theories and research have been discussed several times in Praxis with several different applications, including the Pareto Chart, the Pareto Principle, and Pareto Efficiency (relating to Arrow’s Impossibility Theorem and Pairwise Comparison Matrices). The connections between…

from others. Smith’s writings on this topic contributed to his title as the “Father of Modern Economics”, however, in addition to economics, Smith also wrote extensively about morality. The Theory of Moral Sentiments begins with a description of sympathy and how it contributes to a morally just society. It is evident from these two works that Smith aimed for society to have relatively unified moral and economic visions. However, modern society has not lived up to the standards put forth by…

Cocktail Party Economics discusses the topics of efficiency and equity within certain conditions and markets. As it says in MEL, efficiency means operating at the lowest possible cost for whatever a company is producing. When an economy is considered efficient, any attempts to make something better off would not be possible without making it worse. Furthermore, production is efficient when the production is produced at the lowest possible cost along with variable inputs of production as it says…

Introduction Economic growth is a priority for nations around the globe. Nations are trying to increase the amount of goods and services produced per head of the population over a period of time. There are two major key components in order for economic growth to take place. These key components are innovation and creativity. Nations as well as organizations must always look for ways to stay ahead since there is always a competitive market. One is aware that resources are scarce. With this in…

were contractual problems. The need to solve those issues drove traders to form an economic institution which could facilitate trade by lowering transaction cost and information transmission. How agency relations were established conduced to understand the fast economic growth in Mediterranean trade. The interdependent relation between merchants and agents motivated the parties because there is a large efficiency gain. For example, merchants employ oversea agents to deal with business abroad to…

There are several important factors regarding to the economic effects of monopoly. The first factor is the price-output combination between pure monopoly and perfect competitive industry. First of all, a pure monopoly is considered to be known as a price maker which means that they have complete control over the price or the amount of quantity that they sell, thus price must be lowered in order to sell more quantity on the market since they do set their own market price. Therefore, if the…

The circular economy is defined as an economic system that revolves around the processes of recycling, reusing and recovery of materials (Kirchherr J, Reike D, Hekkert M 229.) CE (circular economy) was first introduced as a concept in 1989 by environmental economists David W. Pearce and R. Kerry Turner and has recently been adopted by a number of countries. In 2015, Denmark, Netherlands, Japan, Sweden and Scotland agreed on CE legislation (Braw. E). The circular economy is a relatively new…

2.3.1. ECONOMIC BARRIERS - MARKET BARRIERS As discussed previously, market barriers are obstacles that contribute to the slow diffusion and adoption of energy efficiency measures and before them, companies behave rationally (Brown 2001; Sorrell et al., 2004; Rehmatulla and Smith 2015a). Market barriers include: • Credit constraints and capital costs: high initial payments implied by the adoption of new technologies to be installed on ships during the shipbuilding process and the implementation…