Social cost

process.  Equity This takes places when resources, income and wealth are sincerely and equally distributed within a community or state. This is a result of fair and followed principles, regulations, stable political issues and a healthy economy.  Cost Minimization This occurs when input value is well regulated and at a minimum so that price takers will flexible when satisfying their needs and wants. This is a result of absolute efficiency within an organisation.…

Appreciating each other’s culture helps us to live peacefully and in unison thus bonding with each other. If you are a social person, then Utah hosts a lot of cultural events some of which are even attended by guests worldwide. This helps people to showcase their cultures and the rest to appreciate the cultures. This brings about diversity and knowledge on different cultures…

(2005). Bensaou portfolio model shows a relationship in which neither party has grown specialised assets for cooperation. Each party can go to the market and move to another business partner at low cost with minimal damage. As per Bensaou, there are two sorts of fruitful connections: high necessities - high abilities and low prerequisites - low capacities. There are likewise two courses to disappointment, under-planned relationship and over-composed…

1.1 Definition Sharing economy is the use of market intelligence to foster a more collaborative and sustainable society (Heinrichs, 2013). Belk (2014) defines it as people who are coordinating the acquisition and distribution of resources for a fee or other compensation. This has to be differentiated from commercial offerings which do pseudo-sharing as short-term rental (Belk, 2014). Alternative names for sharing economy are relationship-, cooperative-, grassroots-, and new economy. 1.2…

i. Cost Leadership-Low Cost; Involves projecting a company as the cheapest source for a good or service to offer to a wide range of customers. Costs are minimized and the savings are then passed on to customers. Celcom • Does this by pushing for a culture that inculcates high productivity and accountability. The company has reduced the number of layers in its organizational hierarchy from the teens to just 6, and in the process, allowing for faster and transparent decision-making. With the…

know that every resources has an opportunity cost in order to calculate the firm’s economic costs properly. An implicit cost is an opportunity cost that doesn’t need to pay by the owner because a firm owner already own the resources for his firm. However, these resources has their own price. For example if a business owner buys a piece of land for building a house but he determines to use this land to make a bakery, he will face an indirect or implicit cost of this land to his bakery. As a…

Abstract: The Port of Singapore has a multi-pricing structure. The costs are arranged in three categories: port-calling costs, terminal-handling costs and concession pricing. Port-calling costs are the costs of all services offered to the vessel, ranging from access to quay or terminal, to pilotage, to the supply of water and bunkering, i.e. they encompass all ship-handling costs. Terminal-handling costs comprise costs for loading or unloading, storage, customs clearance, repacking and…

for staffing could therefore rise as an administrative assistant would be highly beneficial per region. In doing this money would be saved and not compromised. With the company being non-profit based company there is not a lot savings to rely on. Costs for this type of care may have to increase in order for all the company to be and…

1826 has been used in the United States ever since its creation. It’s still used today, but at what cost? Inmates are held in a barren 80 square foot room for up to 24 hours a day with little to no human contact which isn’t only boring; it’s inhumane. 80,000 people, some not even major offenders, find themselves in bleak cells on any given day; none of them should be due to the expensive annual costs and mental problems it spawns. First of all, many studies show that being thrown into “the…

analysis of the interaction between incentives and social norms? First, material incentives such as prizes or the law are not very effective for eliciting admirable pro social behaviours, i.e. behaviours that are honour-driven: incentives indeed crowd out intrinsic motivation, especially for the most altruistic. Second, incentives are more effective to strengthen respectable behaviour, i.e. behaviour that is stigma-driven: incentives indeed…