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    statement is important for two reasons. Firstly, it illuminates Marx 's theory of base of society, substructure, and superstructure. The superstructure is the ideologies, values, and norms that are that changes in the economic base, the mode of production. It then leads to changes in the superstructure of the political system, religion, art and not the other way around. Secondly, it also points out to Marx 's theory of dialectical, or historical, materialism.…

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    Explicit Vs Implicit Cost

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    (by definition) only be a factor in the economic profit calculation, actually do affect the bottom line and change the accounting profit picture. For example, if a factory needs to rework or even scrap and remanufacture a high percentage of their production, the firm needs to over-work both its equipment and its personnel. This over-working can translate directly into higher explicit costs in terms of more frequent machine repairs, in overtime pay, and even greater than expected replacement…

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    Entrepreneur: Study Guide

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    What is Entrepreneur? An Entrepreneur is the one who systematizes, manages, and shoulders the risks of a business or enterprise. An entrepreneur is a pioneer, a contender and a driver. One who crafts something new, or some creativity, a business or an enterprise. An entrepreneur is the beginning (and at times the end) of the endeavour, project or activity. Traits of a Successful Entrepreneur  Full of willpower  Not frightened to take risks  Great confidence  Hunger after erudition …

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    How I Braved Anu Aunty and Co-Founded a Million Dollar Company is the debut novel of author Varun Agarwal. He is one of the young and budding Indian entrepreneurs. This novel is a non-fiction memoir of Varun’s experience and struggles he had while founding his own start-up called Alma Mater, way back in 2009. Varun in the beginning of the book itself warns the readers that he is no writer but is a storyteller and truly through the course of the book proves that he is a brilliant one. This book…

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    In term of property, Locke and Marx explained the types of property- private and common property. In this aspect, this is where their views on liberalism have an obvious distinction to one another. Locke justified the necessity and right of private ownership and property, by using the principle of fairness, which people can exchange for properties with their labor (Steven, 2002), but Marx argued that this is the source of all social injustice, when some people own and some people not (Andrew,…

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    How important will machinery become in future generations? In The Wealth of Nations, Adam Smith writes: “It is the great multiplication of the production of all the different arts, in consequence of the division of labor, which occasions, in a well-governed society, the universal opulence which extends itself to the lowest ranks of the people” (Smith, p. 12). Smith argues that the overwhelming significance of the industrial world in terms of the division of labor involves the concentration of a…

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    Generating new advancements in technology is how an economy prospers. And new advancements in technology happen when a number of innovative thinkers plant their ideas together and work to make them come alive. In America, technological progress came a bit after the turn of the 1800's. Manufacturing, transportation, and the rise of large cities, were all causes of America's economic growth. However, there were also consequences that fallowed as a result of America's prosperity. The concepts…

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    1) Based on Lyle Wong case study, I consider Lyle as entrepreneur. The first reason is Lyle have big ideas. Lyle dream big and think big, he was come out with ideas that haven’t been tested and work on it before. And he believe that his ideas is possible to success if he try to work on it with right way. The second reason is that I can see in this case study, Lyle love to take risk. Entrepreneurship involves recognizing, and he being willing to accept the risk that the venture may success or…

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    Change In Urban Society

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    Change In Urban Society At the end of the 18th century a revolution in energy and industry began in England and spread rapidly all around Europe later in the 19th century, bringing about dramatic and radical change. A significant impact of the Industrial Revolution was that on urban society. The population of towns grew vastly because economic advantage entailed that the new factories and offices be situated in the cities. The outlook of the city and urban life in general were profoundly…

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    Modernism and Cubism European society went through great changes during the last half of 19th Century and the beginning of 20th Century. Industry had a rapid development as the processes started to become more mechanical and machines increased their importance in manufacture processes. As the society entered to a new age known as “Modern”, the artistic approach to life also changed, introducing new artistic currents based on the Modernism. The current essay intends to provide a wider…

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