Có 20+ tài liệu thuộc chủ đề "Society and Business"
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By modifying exchange rates to correct for imbalances in payments, the money market can accommodate vast changes in the economic conditions of nations engaged in trade.. These changes in consumption, and hence in foreign exchange rates, can be caused by changes in a nation’s tastes and preferences, real income, level of prices (including interest rates), costs, and expectations as to...
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To do that, however, they must set aside —or “unlearn”—many pre-conceived notions of the economy and of the course itself. The problem of “unlearning” can be especially acute for MBA students who are returning to a university after years of experience in industry. People in business rightfully focus their attention on the immediate demands of their jobs and evaluate their...
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Besides, we are firmly convinced that an understanding of the “macroeconomy” is necessarily dependent on an understanding of the “microeconomy.”. We now turn to a study of property rights. Private “property rights” are one of the institutional mechanisms people have devised to help alleviate the pressing constraints of scarcity, which is why we take them up at this early stage...
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in the last chapter in the book on international trade. This was demonstrated even though we postulated that Harry was more efficient than Fred in the production of both fruits!. Communal Property Rights. We may designate such rights as “communal rights.” Many rights to scarce property have been and still are allocated in this way.. Rights to the use of...
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Many textile firms in the southeast part of the country have folded over the last two decades in spite of their substantial efforts to improve their productivity and increase quality. Even the 9/11 ctatrophy, several major airlines (and scores of smaller ones) have folded their wings over the last two decades because their planes and personnel were too expensive relative...
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A man of modest means, with little knowledge of production processes, Fred Lieberman has nevertheless been able to stock his store with many if not most of the foods and toiletries his customers need and want.. Occasionally Lieberman’s runs out of certain items, but most of the time the stock is ample. How does Fred Lieberman get the goods he...
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Change in the profitability of producing other goods. Change in the scarcity (and prices) of various productive resources. An increase in supply is an increase in the quantity producers are willing and able to offer at each and every price. It is represented graphically by a rightward, or outward, shift in the supply curve.. A decrease in supply is a...
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Competition in the Short run and the Long Run. One of the best examples of the workings of both price and nonprice competition is the market for hand calculators. Since the first model was introduced in the United States in 1969, the growth in sales, advancement in technology and design, the decline in prices in this market have been spectacular....
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They must ask their workers to invest “sweat equity,” which is equal to the difference between what the workers could make in their respective labor markets and what they are paid by their firms. The underpayments not only extend the sources of capital to the firm, but they also give the workers a strong stake in the future of the...
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In state universities, why does the state subsidize full-time MBA programs but not executive MBA programs? Should the two programs be treated differently? Does the state subsidy explain the price differential for students in the two programs?. READING: The Effect of Airline Deregulation on Travel Safety William F. Before 1978 airlines in the United States were strictly controlled by government...
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In the same way, investors spread their risk by investing in a wide variety of companies, and firms spread their risk by producing a number of products.. Thus the actual cost of the burglary is less than the benefits received, $1,500. A study of burglary and grand larceny cases in Norfolk, Virginia, showed that for the unusual criminal who committed...
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Scott Cook, who in 1983 developed the widely used home-finance software package called “Quicken,” the major product of Cook’s firm, Intuit, Inc., which was courted for a buyout in 1994 by Microsoft. Second, and more importantly for the purposes of this chapter, Cook agreed to become a vice president of Microsoft and to retain an interest in the future development...
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Many proponents of price controls view the supply curve for a controlled good as essentially vertical. Consumers will get nothing more in the way of goods, but producers will reap a windfall profit. Instead of an incentive to produce more, profit is seen as an economic rent—an exploitative surplus received by companies fortunate enough to be in the market at...
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In considering a new round of minimum wage increases, both minimum wage proponents and opponents need to reconsider how a minimum-wage hikes will affect labor market incentives and manager reactions to what Congress legislates. By the same token, managers in markets affected by any new minimum-wage increase need to be mindful of the competitive forces afoot that will cause them...
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In the case of minimum wage hikes, it appears that policy makers and economists alike have failed to grasp an important lesson: The hikes do not destroy competition, only redirect its force. They also give managers an incentives to find ways of reducing their impact on employment – and the net benefits of the hikes to the workers.. Is a...
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As Kanter points out, the importance of these commitment mechanisms is illustrated by the fact that their breakdown foreshadowed the end of the community.. Other means of bringing about collective behavior on the part of group members are suggested by the cattlemen’s associations formed during the nineteenth century.. During the nineteenth century, cattle were allowed to run free over the...
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Each man was holding on to a rope attached to the barge as he struggled forward against the river’s current, while on the barge was a large Chinaman with a long whip with which he lashed the back of anyone who let his rope go slack. Upon seeing this, the missionary experienced a surge of indignation and rushed up to...
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The workers have to worry about the inclination of each worker group to garner firm profits at the expense of other groups and the investors. The workers also have to worry that they have taken over the role of the investors, which is accepting the risk that comes from being residual claimants. The workers’ insecurities can be. heightened by the...
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In addition, we suggest that since people who are alike tend to cooperate, the more alike the members, the larger the team can be. The more training team members are given in cooperation, the larger the teams can be. 51 As a consequence, it probably follows that the more economists (and other people with similar conceptual leanings) employed, the smaller...
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But at the level of the tribe or group society has always found itself able to cohere. It is for this reason we begin again a study of the markets after we look inside the “firm” to see how the. Explain why the “free-rider” problem is likely to be greater in a “large” group than in a “small” group.. dandelions...