Economy

Introduction: According to the economic theory, world’s goods and services can be separated in two big sectors: Tradable and non-tradable. In the old days, any item that could be shipped was characterized as a tradable good and anything that couldn’t be shipped, like services or heavy goods was considered as non-tradable. However, technology and global communications have seen a sharp growth the last years and that led to a different perspective of that theory. Nowadays, with the help of that…

the theory of value and time factor. Economics is the study of human action and how to manage the limited resources to fulfill unlimited wants of humans. It is also social science that analyses the choice for sharing limited resources. In economy, there are goods and services, production, consumption and so on. In real life, humans have many unlimited wants. Humans use goods and services to fulfill their unlimited wants. Using goods and services to fulfill unlimited wants is called…

Michael Porter in his study of national competitive advantage, Michael Porter identified four sources or determinants that can affect the global competitiveness of companies located in particular countries .These four sources are: factor endowments; demand conditions; related and supporting industries; and the strategy, structure and rivalry of the companies located in a country.Porter created a model linking these four sources in a diamond (see figure 1 below) and argued that firms are most…

Abstract LEADER, part of European Agriculture Fund for Rural Development (EAFRD), is one of the most important mechanisms in South Tyrol to boost regional economy. The programme is based on bottom-up approach and is carried out by the local action groups (LAGs), which represent a form of public-private partnerships. Innovation is an integral element of LEADER programme but it is defined very loosely in the guidelines, with the intention to leave an interpretation to the local actors. In…

Following a rise of the contemporary consumer society in America in 1920s, the accompanying lifestyle choices have become aspired to and as a result have spread across the ocean to the rest of the world. Nevertheless, the origins of consumer society date back to 16th century; and the real development began following the industrial revolution, when higher production required swift and higher consumption and as a result an expanding middle and working class have transformed into consuming class,…

resources a country has, and trading partners have the biggest effect on changing economic progress. Therefore, money should be spent on education, multiple resources should be used for income, and picking smart trade partners will lead to a better economy. Some of the strengths that the country has economically is their petroleum supply and minerals such as zinc, copper, and uranium. The weakness of this country is the job market with the astonishing unemployment rate of 53%. With knowledge…

My interest in economics was developed since I was a child. I was given birth in a “financial family”; my parents’ works were all related to economics. Therefore, since I was young, I had the opportunity to observe and understand the financial work. In middle school, when my parents discussed economic events, I did not feel bored. To the contrary, I listened carefully and even made efforts to express personal opinions. Undoubtedly, sometimes my opinions were infantile and funny. However, my…

Nowadays we live in a mostly capitalist society, we buy many products and services and do not even think about the waste that we are generating or about the impacts that we are having in the environment. In order to make a difference on how we treat the environment, we have to be more self conscious about the contributions that we have on it, so that we can find ways to act accordingly. It is easier to understand and see what the harms are that we cause and how to change our actions to be more…

CHAPTER 2 RESEARCH THEORITICAL FRAMEWORK E-commerce is a significant and pervasive phenomenon that is impacting not only organizations and societies but also the structure of markets and the economics of distribution channel-structures. Among others, four theories have been widely applied to explain the rapid growth of e-commerce: the transaction cost economics (TCE) theory, the agency cost theory (ACT), the network externality theory, and the long tail theory. 2.1 Theories Review 2.1.1…

Case study Bharat forge and Suzlon are two major Indian companies which have put India in the world market. It is mainly focused on entering the global market. These two companies are manufacturers of entirely different products. Bharat forge is a main player in the automotive industry and Suzlon is a textile manufacturing industry. Both the companies started with a basic this case study highlights the key points on how both the companies used strategies and resources to enter and establish in…