How my Dad got his job in trade.
Ryan Harman 11th October 2001 THE JOB IN TRADE Hi! I'm Paul. This is the story about how my dad got his new job. It was 3.30am. I heard a noise and saw that the light was on, so I got out of bed and crept downstairs silently. The office door was ajar, and I could see my Dad still sat at the computer. He was so engrossed in his work, he did not see or hear me approach. I went to peer over his shoulder and the floorboard creaked as I got nearer to him. He was startled and was surprised to see me but he retaliated quickly and turned off the computer monitor. He had a sealed letter in his hand, which he asked if I would post for him in the morning on my way to school. I went back to bed and my bedside clock said 4.00am. Three hours later, it was time to get up for school as it was 7.00 am. I felt very tired because of my disturbed night. On my way to school, I nipped on down the post box to post the letter. I don't know what the letter contained - should I have a quick sneak I said to myself or would that be cruel. I slowly opened the letter. It said that my ambitious Dad was looking for a job, and it also enclosed a completed application form. The job was for a position at the World Trade Centre in New York. I sealed the envelope back down and posted it in the post box and went to school. A month passed. Our local postie was strolling up to the
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What is a public good? What is a public good? This question can best be answered by looking at the counterpart, a private good. Private goods are typically traded in markets. Buyers and sellers meet through the price mechanism. If they agree on a price, the ownership or use of the good (or service) can be transferred. Thus private goods tend to be excludable. They have clearly identified owners; and they tend to be rival. For example, others cannot enjoy a piece of cake, once consumed. Public goods have just the opposite qualities. They are non-excludable and non-rival in consumption. An example is a street sign. It will not wear out, even if large numbers of people are looking at it; and it would be extremely difficult, costly and highly inefficient to limit its use to only one or a few persons and try to prevent others from looking at it, too. A traffic light or clean air is a further example. This poses immediately the question of who, then, provides public goods. Once they exist, they are there for all to enjoy. So it is often the most rational strategy for private actors to let others go first and seek to enjoy the good without contributing to its production. This is a dilemma, that public goods face. Without some sort of collective-action mechanism, they risk being under-provided. Conversely, without collective action, public bads - such as pollution, noise, street
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Inflation vs. Unemployment - In what way might there be a trade off between inflation and unemployment? Is it possible for a country to have high levels of inflation and unemployment at the same time?"
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"To what extent is a globalized world of economic benefit?"
Globalization "To what extent is a globalized world of economic benefit?" The countries of the world are rapidly becoming more interdependent in a process known as Globalization. This process means that much economic growth comes because of trade between nations; with each specializing in the products they are best at producing. Recent advances in the world of information and communication technology has meant that globalization is truly upon us - more than ever before. Globalization has many advantages and disadvantages. One of the major advantages of globalization is the promotion of economic efficiency in the production of goods and services. For example, it makes economic sense for countries that have a comparative advantage of ease of accessibility to raw materials, to manufacture goods requiring these raw materials and to export the final product. It would be inefficient for another country to import all the raw materials and then manufacture the final product to use. This quest for economic efficiency had led to the rise of huge multinational corporations like Niké. It has based its production of sportswear in the developing countries such as Sri Lanka and Bangladesh to benefit from cheap labour. This means that the production of sportswear is productively efficient and it also guarantees the workers in the developing economies an income, which is generally higher
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What Are The Causes Of Inflation? Can Government Control It? Discuss Which Economic Policies Are Appropriate For The Control Of Inflation. Inflation is a sustained rise in the average prices of goods within an economy, it can also be seen as a change in the purchasing power of money. Inflation can normally be divided into two types cost-push and demand-pull. Cost-push happens when prices are pulled up by rising costs, demand-pull happens when demand outstrips supply and prices will therefore have to rise to accommodate this. Monetarists argue that inflation is caused increases in the money supply, the total amount of money circulating in the economy at one time. This is as the believe that any increase in the money supply which is not in line with the growth in output of the economy will lead to inflation. If the money supply was increased in the short-run then consumer spending would increase but the output of the producers would not be able to expand, as quickly, so there would be an increase in price to curb this demand. They believe that the money supply should be kept in line with the rate of growth of the output. Another theory for the cause of inflation is the demand-pull theory, this is a theory, which attributes inflation to high levels of demand in the economy. It will come about when there is excessive spending, this will then lead to a increase in the
Analyse the prospects and the problems for a Multi National Enterprise who proposes to make a Foreign Direct Investment
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Why are less economically developed countries and more economically developed countries affected differently by flooding, and why are there responses different?
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Using appropriate examples, describe what is meant by institutional factors and explain how social cost can be included in the least-cost equation to determine the optimal location for a new factory.
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What Has Been The Impact Of Globalisation, Industrialisation and 'Development' On The World (its Peoples, And The Environment)? The powers that be in the Western World we inhabit today are constantly churning out through the media and other mediums, ideologies to promote their agendas on Globalisation. Through the use of buzzwords like 'progress', 'freedom', 'democracy' and 'free trade', we are fed a very biased (and often propaganda based) version of events. In this essay I intend to define and analyse the concept of Globalisation and focus on its effect on the world and it's inhabitants. Using both pro and anti -globalisation sources I aim to explore how globalisation developed from past millennia, who really are the beneficiaries of this global system, the consequences of a globalisation culture, and if there are any alternatives to the present state of affairs. Globalisation is the term used to describe the increased pace of interconnectedness that has taken place over recent years. People around the globe are more connected to each other than ever before. Information and money flow more quickly than previous years. Also Goods and services produced in one part of the world are increasingly available in the next. International travel is more frequent, and international communication is commonplace. This phenomenon (along with others) can be classified as globalisation.