...1a) Descriptions of governments can be based on: Economy - what provides the goods and services that are bought, sold, and used? Capitalism-(Russia)--In a capitalist or free-market economy, people own their own businesses and property and must buy services for private use, such as healthcare Socialism (Norway)-- Socialist governments own many of the larger industries and provide education, health and welfare services while allowing citizens some economic choices Communism (Cuba)-- In a communist country, the government owns all businesses and farms and provides its people's healthcare, education and welfare. Politics - how is the government run? Dictatorship (Iraq)-- Rule by a single leader who has not been elected and may use force to keep control. In a military dictatorship, the army is in control. Usually, there is little or no attention to public opinion or individual rights. Totalitarian (China)-- Rule by a single political party. People are forced to do what the government tells them and may also be prevented from leaving the country. Theocracy (Iran)-- A form of government where the rulers claim to be ruling on behalf of a set of religious ideas, or as direct agents of a deity. Monarchy (Jordan)-- A monarchy has a king or queen, who sometimes has absolute power. Power is passed along through the family Parliamentary (Israel)-- A parliamentary system is led by representatives of the people. Each is chosen as a member of a political party and remains in power...
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...BY SHAHZAD MIRZA UKCBC PARK ROYAL LONDON ID: 12878-RB HND BUSINESS MANAGEMENT LECTURER: MR TAIWO OLAJUMOKE BATCH: 11 LEVEL: 4 BY SHAHZAD MIRZA UKCBC PARK ROYAL LONDON ID: 12878-RB HND BUSINESS MANAGEMENT LECTURER: MR TAIWO OLAJUMOKE BATCH: 11 LEVEL: 4 BUSINESS ENVIROMENT | Introduction | 3 | 1.1 | Identify the purpose of organisations | 3-4 | 1.2 | Describe to which extent Iceland Supermarket Ltd meets objectives of its different stakeholders. | 5-6 | 1.3 | Explain various responsibilities of Iceland | 7 | 2.1 | Different economic systems | 8-9 | 2.2 | Fiscal and monetary policy | 10-12 | 2.3 | Competition policy and other regulatory mechanism | 13-14 | 3.1 | Market structures determine the pricing and output decisions | 15-21 | 3.2 | Which market forces shape Iceland Supermarket responses | 21-22 | 3.3 | How the business and cultural environments shape the behaviour of Iceland | 22-23 | 4.1 | Significance of international trade to Iceland Supermarket | 23 | 4.2 | Impact of global factors on Iceland Supermarket | 24 | 4.3 | Impact of policies of the European Union on Iceland Supermarket | 25 | | Conclusion | 26 | | References “ | 27 | ...
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...1. International business environment Book0)Business mean to busy in an activity, which are related to money almost business have 50% chances of profit and losses.(Morrison, j. 2002)Business is operated in every part of the world. As the business grow. It is looking for new opportunities across the border. International business is the term use for the operation and objective of the organisation that have interest in other countries. For example Tesco, Ford, General Motor, McDonald, Disney, so many other companies. These companies have key interest to standardise their product for general acceptance. The international business becomes more complex. Tie between the different societies and organisations. (Meldrum, D.H) as businesses inter into new market it chances of 50% losses increases. Due to different in economic, political, cultural structure, policies, geography and currencies. These factor decreases profit ratio of international investment. There are no specific criteria to measure such in-stability. Every investor used their own method and measure. Uncertain condition of country make easy for international business to design their own stability criteria. (Considering risk in international business) Business has no idea about the local risk. It's difficult to operate and manage in such condition where the Culture, Social, Economic, Political, and legal structure are not stable. In such cause the international business need to take all the measurement either it`s Commercial...
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...1. International business environment Business mean to busy in an activity, which are related to money almost business have 50% chances of profit and losses.(Morrison, j. 2002)Business is operated in every part of the world. As the business grow. It is looking for new opportunities across the border. International business is the term use for the operation and objective of the organisation that have interest in other countries. For example Tesco, Ford, General Motor, McDonald, Disney, so many other companies. These companies have key interest to standardise their product for general acceptance. The international business becomes more complex. Tie between the different societies and organisations. (Meldrum, D.H) as businesses inter into new market it chances of 50% losses increases. Due to different in economic, political, cultural structure, policies, geography and currencies. These factor decreases profit ratio of international investment. There are no specific criteria to measure such in-stability. Every investor used their own method and measure. Uncertain condition of country make easy for international business to design their own stability criteria. (Considering risk in international business) Business has no idea about the local risk. It's difficult to operate and manage in such condition where the Culture, Social, Economic, Political, and legal structure are not stable. In such cause the international business need to take all the measurement either it`s Commercial...
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...Business Environment: A Case Study of Cadbury Schweppes Table of Contents Particulars: Page No. Introduction 03LO1 Understand the organisational purposes of businesses 1.1 Purposes of the Cadbury Schweppes: 031.2 How Cadbury Schweppes meets its Stakeholders objectives 041.3 Responsibilities and strategies by Cadbury Schweppes 05LO2 Understand the nature of the national environment in which businesses operate2.1 Resources allocation is different economic system 05 2.2 Impact of fiscal and monetary policy on business to allocate its resources 06 2.3 How the competition policy and other regulatory mechanisms impacted on Cadbury Schweppes 07LO3 Understand the behaviour of organisations in their market environment3.1 Market structures in determining the pricing and output decisions 083.2 Market forces shape organizational responses 093.3 Business and cultural environment change the shape of an organization 10LO4 Be able to assess the significance of the global factors that shape nationalbusiness activities4.1 Significance of international trade to United Kingdom business organizations 114.2 Impacts of global factors on UK business organizations sectors 114.3 Impact of policies of the European Union on UK business 12------------------------------------------------- Merit Description------------------------------------------------- ...
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...PART ONE Introducing The Contemporary Business World In the Opening Cases in Chapters 1 to 5, you will read about five situations that may seem to have little in common at first glance: Canadian megaprojects that focus on the extraction of oil and nickel, the importance of productivity for our standard of living, the unethical behaviour of some business managers, entrepreneurs starting new businesses, and the exporting of Canadian goods and services to other countries. All of these situations, and many more that are described in this text, have a common thread—they all demonstrate the key elements of business as well as the excitement and complexity of business activity. Each case tells a part of the story of our contemporary business world. Part One, Introducing the Contemporary Business World, provides a general overview of business today, including its economic roots, the environment in which it operates, the importance of entrepreneurship, the various forms of ownership of business firms, the globalization of business, and the ethical problems and opportunities facing business firms. ■ We begin in Chapter 1, Understanding the Canadian Business System, by examining the role of business in the economy of Canada and other market economies. We also present a brief history of business in Canada. Then, in Chapter 2, Understanding the Environments of Business, we examine the external environments that influence business activity. These include the economic, technological...
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...Journal of Economic Literature 2011, 49:4, 1076–1151 http:www.aeaweb.org/articles.php?doi=10.1257/jel.49.4.1076 The Fundamental Institutions of China’s Reforms and Development Chenggang Xu* China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve the “China puzzle,” this paper analyzes China’s institution—a regionally decentralized authoritarian system. The central government has control over personnel, whereas subnational governments run the bulk of the economy; and they initiate, negotiate, implement, divert, and resist reforms, policies, rules, and laws. China’s reform trajectories have been shaped by regional decentralization. Spectacular performance on the one hand and grave problems on the other hand are all determined by this governance structure. ( JEL O17, O18, O43, P21, P25, P26) 1. Introduction hinese economic reforms, which have been in flux for three decades, have more than doubled China’s economic growth, from an average of 4.4 percent annually before 1978 to an average of 9.5 percent after 1978. * University of Hong Kong and WCU–SNU. The first draft of this paper was written at Hong Kong University of Science and Technology (HKUST) when I was visiting there. The hospitality and generous support of HKUST are greatly appreciated. Comments from participants in conferences and seminars at the China...
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...Backward vertical foreign direct investment with an example Backward FDI is investing in an industry which supplies your firm at home. Buying or building a supplier. For example, if Ford builds an engine production facility in Mexico which ships engines to it manufacturing site in Texas. This would be backward vertical FDI. Vertical foreign direct investment with an example Investment from one country into another (normally by companies rather than governments) that involves establishing operations or acquiring tangible assets, including stakes in other businesses. Vertical: when different stages of activities are added abroad. Forward vertical FDI is where the FDI takes the firm nearer to the market (for example, Toyota acquiring a car distributorship in America) and Backward Vertical FDI is where international integration moves back towards raw materials (for example, Toyota acquiring a tyre manufacturer or a rubber plantation). Common law system and how it differs from a civil law system Common law is based on tradition, precedent, and custom. When law courts interpret common law, they do so with regard to these characteristics. This gives a common law system a degree of flexibility that other systems lack because it allows the judge to interpret the law. Civil law system and how it differs from a common law system Civil law is based on a very detailed set of laws organized into codes. When law courts interpret civil law, they do so with regard to these codes...
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...How People Make Economic Decisions Paper Eco/212 September 28, 2010 Making Economic Decisions Economic decisions made by individuals can affect the economy. The principles of individual decision-making include people being rational, economic incentives, and optimal decisions made at the margin. Trading the three economic systems are market economy, centrally planned economy, and mixed economy. Each contains their own attributes on how they contribute to an economy. The current economic system in the United States is a mixed economy. Individual Decision-making People try to be rational. “It means that economists assume that consumers and firms use all available information as they act to achieve their goals. Rational individuals weigh the benefits and costs of each action, and they choose an action only if the benefits outweigh the costs” (Hubbard, & O'Brien, 2010). Economic incentives are motives human beings act upon. This generally can mean people take the cheapest route that benefits them the most. Human beings have to answer the question, “Is there enough incentive or motive to make this decision?” Optimal decisions are made at the margin. These decisions are all or nothing. Within one of these decisions can be marginal benefit and marginal cost. An optimal decision that I made to compare marginal benefit versus marginal cost would be when I decided to trade in the truck I loved so much for a car. The marginal benefit of trading the truck in was buying...
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...A Social System of Justice for New Zealand (01.07.2011) BY: Pieter du Plooy (10219477) To: Professor Christoph Schumacher Paper: 115745.1101 All societies need a social justice system, societies establish order by using economic systems to produce and allocate resources to all its members in society. Depending on the desire of such society an economic society can promote individual freedom, individual accumulation of wealth or promote fairness through distributive justice. The aim of this essay is to find a model that not only creates financial freedom for the entire New Zealand population, but also promote fairness and equality through a social justice system. The New Zealand economic system is predominately a free market system. Free market systems inherently promote competition and drives efficiency. Free market systems work very well under a microeconomic model with small businesses owned by one or view individuals that drive efficiency with a high level of competition (Layton, 2009). Unfortunately it does not always promote fairness especially when companies become larger and the competition is reduced to only a few in the market (competing against each other). New Zealand markets are mainly driven by producing commodity-base products which are in high demand in the rest of the world (Treasury, 2010). This in turn creates a demand for labour, with workers offering their time and energy paid in wages. This wage system makes the worker dependent on his employer...
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...Central Bank), Sarah Suphal (Senior Lecturer, UWI), Marjorie Jewan (Senior Economist, Ministry of Finance) and Shereeza Ali (President of Chamber of Commerce) and right now we’re going to open up the telephone lines.....Caller Number One?!” Caller one asks question for task 2.1 Jason: Thank you caller. For the sake of the wider public; society is faced with the economic problem of scarcity, which exists because factors of production or to use common vernacular…resources…are finite while consumers’ wants are infinite. Economic systems are the systems employed by the state or nation to allocate these scarce resources and apportion goods and services in the national community. Now, there are three basic economic systems, planned, market and mixed…so I would now invite the panel to shed some light on each of these and in particular help the caller to understand which applies to our local economy. Marjorie: Ok…Jason so you mentioned planned economies, a planned is where the government has total control of the economy and the allocation of resources. Government and their central planners decide on what, how and for whom goods and services are produced. This type of governance is associated with socialist type economies namely Korea and Cuba. In a Planned Economy central planners decide what to produce based on assumptions of consumers needs of goods and services and they also focus on allocating resources for future consumption. Central planners also plan the production process once...
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...Contents 1 a) Examine the arguments in favour of a free market system of resource allocation. ..................................... 1 1 b) Explain how market failure can occur and suggest how the government in a country of your choice has sought to correct those market failures. .............................................................................................................. 4 ‘Too big to fail, too big to bail’........................................................................................................................... 5 2. A) Examine how the government of a country of your choice has adjusted its monetary and fiscal policy in response to the world’s downturn. Explain the reasoning behind these adjustments. ........................................ 7 Suggestions offered by EU ................................................................................................................................. 8 Applying fiscal and monetary policy by the Government .................................................................................. 8 Conclusion .......................................................................................................................................................... 9 2 b) Indicate the problems which are created for the government’s finance as a result of it seeking to avoid deeper recessions. What solutions might you recommend?.............................................................................. 10 What...
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...Canada economic system is also referred to mixed economy because it involves both private and public ownership of resources, and good and services are produced and provided by both the government and privately owned companies. Canada’s system is often referred to a capitalist system because we allow and also encourage the private ownership of capital, that is, the plants, factories, equipment, and so forth that are used to produce and provide goods and services. India has a Mixed Market economy meaning it uses a variety of government regulation to control the economy, but relies primarily on market that forces to set prices and demand and uses general principles of capitalism. India is having a mixed economic structure. It is neither fully capitalist nor fully socialistic. It is neither completely an open system nor a fully free market system. The key variables in the choice of this economic design are: people's welfare, equitable distribution of wealth and income, a logical link between employment and incomes, restraining monopolies and concentration of power and wealth, and supporting health and education sectors through government subsidies and political strength. India has a mixed economy. Half of India's workers rely on agriculture, the signature of a traditional economy. One third of its workers are employed by the services industry, which contributes two-thirds of India's output. The productivity of this segment is made possible by India's increasing move...
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...Kaplan University Graduate School of Business and Management GB540 Economics for Global Decision Makers Unit 1 Assignment 3/25/2014 Problem #1: Using either a graph or table (Refer to pages 11-15 for help with graphs and tables) use two goods to construct a production possibilities curve. Clearly explain what a variety of different points on the curve mean. What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced? Production Types | Production Alternatives | | A | B | C | D | E | F | Cars | 12 | 9 | 7 | 5 | 3 | 0 | Gasoline | 0 | 2 | 3 | 4 | 5 | 6 | A A Car Production (Thousands) 0 Car Production (Thousands) 0 12 11 10 9 8 7 6 5 4 3 2 0 12 11 10 9 8 7 6 5 4 3 2 0 B B C C D D E E F F 0 1 2 3 4 5 6 Gasoline Production (thousands of Barrels) 0 1 2 3 4 5 6 Gasoline Production (thousands of Barrels) In this scenario, two goods can be produced, cars and gasoline. Each point in the production possibilities curve is a reprehensive of the output of both products when resources are skewed towards either method. Understanding this, if more resources are utilized towards production of cars, then there is less that can be used for gasoline, resulting in the decrease of output. Anything within the curve is attainable at full employment...
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...Question 1 In Eastern Europe, the small business sector was the most successful entity of the movement a socialist economy to a market economy. The movement in the privatization process led to auctions of small businesses and the restitution of property in these countries. This resulted in the restoration of some small family businesses. Small businesses, however, came with several issues that made it difficult for other emerging small business to be established. Two factors that made it difficult for entrepreneurs to keep their business running was increasingly higher inflation rates and wage rates. This made it a necessity for many small business owners, especially at first, to have second and third jobs in order to keep the business afloat. Since it was so difficult to keep up with these demands, it forced businesses to operate using borderline illegal practices. It was only through these practices that many small businesses were able to operate with all the regulations and legal procedures that the company had to face. They also needed to avoid the mafia or corrupt officials as it became very difficult to work out a secure contract for lease of property, and the banking system was not equipped to take care of the needs of small businesses. Another area of concern for small businesses was lack of experience. Since most, if not all of their lives in Eastern Europe, people lived in a socialist economy, there was no training of entrepreneurship. To fix this issue, many organizations...
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