Economic efficiency

The efficiency of the U.S. economy is affected by productivity. According to Miller, “if everything else remains constant, improvements in labor productivity ultimately lead to economic growth and higher living standards” (192). The subject of labor productivity and costs interests me because of how changes in labor productivity affect the overall economy. The U.S. Bureau of Labor Statistics attributes advances in productivity – the ability to produce more with the same or less output to…

 Interest in measuring intellectual capital has emerged in the second half of the 20th century, when scientists have realized that the resources and the amount of resources available to the company is not decisive in its results. The rise of new economy has highlighted the fact that the value created depends far less on their physical assets than on their intangible ones. These assets, often described as IC, are being recognised as the foundation of individual, organizational and national…

article “Was Development Assistance a Mistake?” (2007) seeks to contribute to an ongoing discussion regarding the efficiency of the foreign aid provided to low-income countries. Easterly is a Professor of Economics at New York University, specializing in economic development. He has held some prestigious posts as an economist and researcher at the World Bank, Journal of Development Economics and Aid Watch, to name but a few. One of his books The White Man’s Burden: Why the West’s Efforts to Aid…

consumers demand for certain products and services. As the consumer demand increases for the products or services provided many providers attempt to reduce use of resources in an attempt to keep prices low and attractive consumers. This is known as economic efficiency which is a firm’s attempt to fulfill as many of society’s needs using the fewest amount of resources as possible(patterson,2013,p. 385). The economy of the United States(US) is based primarily upon the decisions made by free-market…

customers are lost due to the high price. Facing with the competitors, maybe Haagen-Dazs can use it own high-end consumer groups to fight back. But with the opening of the superior root of the world’s largest chain of Yogen-Fruz ice cream brands laugh efficiency shopping center site in the world, Haagen-Dazs has strong pressure. Yogen-Fruz comes from Canada, and its products are to take the high road to compete, which forms the strong completion with Haagen-Dazs which comes into China nine years…

high levels of labor productivity. Moreover, the flexibility of the labor market is critical to guarantee that workers are allocated to their most efficient use (World Economic Forum, 2011). Moreover, Dunning and Lundan (2008) stated the intension of efficiency seeker MNE is to take the advantage of cultures, demand patterns, economic policies, institutional arrangements, market structures and factor endowments by putting effort in a limited number of locations to supply multiple…

Behavioural economics employs insights from psychology experiments to help explain examples of economically irrational behaviour, when dealing with consumer theory. The two most prominent ‘irrational’ preferences are reference dependence, and loss aversion. Although it is a fairly recent development, there have still been many papers written about behavioural economics; such as ‘On the Value of Incumbency: Managerial Reference Points and Loss Aversion,’ ‘The Forward-Looking Competitive Firm…

1. Provide a detailed analysis of the firm’s general environment in China. Highlight the economic segment, demographic segment, political/legal segment, and sociocultural segment. As of 2005, China’s economy was the second largest in terms of GDP. The people purchasing parity (PPP) GDP was $9.412 trillion while nominal GDP stood at $2.25 trillion. In the same year, the GDP growth rate was 9.8% whereas the home improvement market was worth $50 billion in sales with a growth rate of 12%. Following…

Global Economic Critique and Re-Design Introduction: A country’s economic system is made up of structures and processes that can be used to distribute its resources and trade goods and services (conduct its commercial activities). The economic system can regulate five factors of production involving labor, capital, entrepreneurs, physical resources, and information resources. The three types of economic systems are the market economy, centrally planned economy, and the mixed economy.…

shutoff crises for the reason that controlled economies are better than free-market. However, in practice, that does not seem to be this case. The domestic stock market increased drastically over the last year which is over the levels of country’s economic fundamentals. The recent stock market swooped represented that stock prices have become unattainable. Yet the Chinese government has kept intervention. The measure seemed to stop the profound disruption of the Shanghai stock market. But the…