Mercantile system.

Mercantile system Peter Saro 81858 . INTRODUCTION: THE SITUATION IN THAT MERCANTILISM AROSE...3 2. THE DEFINITION OF MERCANTILISM...............................................4 3. MERCANTILISM: A MISNOMER........................................................6 4. VARIOUS APPLICATIONS OF MERCANTILISM .................................9 5. REMINDERS OF MERCANTILE SYSTEM IN THE LATER CENTURIES...12 . INTRODUCTION: THE SITUATION IN THAT MERCANTILISM AROSE The period of so-called mercantilism appeared in European nation states from sixteenth to eighteenth century. This system was accepted with the same unquestioning with which the early Christians believed in miracles and many of the present-day American businessmen believe in the tariff1. Looking closer at this period we see that the beginning of the system are in the times of the second logistics which took part from the middle of fifteenth to middle of seventeenth century. A significant change occurred in the way the countries were ruled and as well in the minds of common people. The medieval state with its lack of centralized power did not depend upon a rich treasury. The king got his revenues from the crown domains and his civil service paid for itself. Municipalities and other local government units had possessed extensive powers of economic control and regulation. They levied tolls or tariffs on goods entering

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Aylesbury pressing case

GDBA/MBA24/MSc14 Cases in Operation Management 07 15826 Case Study:" Aylesbury Pressing " By: Donna Oftadeh ID: 0824376 Lecturer: Due date: 24.11.2008 University of Birmingham Aylesbury pressing, like other car assembly manufacturers tackled with high volume, variety and cost. It has different customers (Vauxhall, Nissan, Ford Honda and Rover), with high expectations and different product standardisation. They want best product at the exactly required quantity with on-time delivery. Aylesbury pressing has tried to improve their efficiency by implementing different initial plans such as SAP, MRPII, kanban control, 7 tools of quality, SPC, FTT,5S, SOP. Although it improved during the recent years but it doesn't seem that Aylesbury pressing satisfied the customers enough and it is in danger of falling from its current position in business. . Analysis Strengths It has made a lot of improvements over the past few years: * Reduced deficiency rate from 40 000 ppm (4%) to 1600 (0.16%) over the past eight years * Increasing of its performance from 20% five years ago to 90 % today * Three kaizen blitz events , one of which reduced inventory by %32 and halved the loading time * Using kanban (invisible conveyor) method of signalling to trigger an action. This is a visual control tool for continuous improvement. They researched a lot into the implementations available

  • Word count: 2950
  • Level: University Degree
  • Subject: Business and Administrative studies
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Using Blanchard's Aggregate Demand and Supply Analysis, explain the view that the biggest risk facing the world economy is deflation, and assess the effectiveness of monetary and fiscal policy to avoid it.

Using Blanchard's Aggregate Demand and Supply Analysis, explain the view that the biggest risk facing the world economy is deflation, and assess the effectiveness of monetary and fiscal policy to avoid it. Within this report, four of the worlds largest economies (US, UK, Japan & Germany), which combined, account for over 60% of world GDP will be referred to, when answering the question at hand. To begin with, the present state of these economies will be examined so as to judge the current macroeconomic status of the world economy. Secondly if the results show that the world economy is in a deflationary phase, the implications of it on the economy as a whole will be explored. Finally the strategies that could potentially be adopted by policymakers to tame deflation will be discussed. The textbook definition of deflation is: a reduction in the level of national income and output, usually accompanied by a fall in the general price level. Furthermore in Japan it means a simultaneous occurrence of a recession and a price decline. (Fig 1) Source: URL address http://www.bls.gov/home.htm (Fig 2) Consumer Prices (Japan): General Index and Percentage change over the Year Source: Statistics bureau (Fig 3) Retail sale volume/ %change over last year Producer prices/%change over last year Stock market/market indices % change on last year in $ terms UK +4.6 -0.2 -17.9

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  • Level: University Degree
  • Subject: Business and Administrative studies
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McDonalds - dissertationt

CHAPTER 1: INTRODUCTION This chapter will give the reader a clear statement of the research question and the problem statement that will be addressed in this research. Moreover, the background information on definitions of key terms and the chosen organisation will be presented. Finally, the 'route map' will be illustrated in order to guide the reader to the rest of the report. .1 Consumer behaviour Referring to Solomon (2006, p.27) consumer behaviour is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, idea or experiences. Consumer behaviour focuses on how individuals make decisions to spend their available resources on consumption related items. That includes what they buy, why they buy, when they buy, where they buy it, how often they buy it how often they use it, how they evaluate it after they purchase and the impact of such evaluations on future purchases, and how they dispose it. Schiffman and Kanuk (2004, p.8) 1.1.2 Consumer attitudes According to Ajzen (1998) the attitudes are the first determinant of behaviour intention. In consumer behaviour context attitude is a learned predisposition to behave in a consistently favourable or unfavourable way with respect of a given object. There is a general agreement that attitudes are learned. This means that attitudes relevant to purchase behaviour are

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Slovak economic development, measured by GDP, inflation, and Unemployment

Slovak economic development, measured by GDP, inflation, and Unemployment Peter Matay Tomas Koribana Macroeconomics Research paper 20/4/03 Prior to the research, there is need to define, what GDP, Inflation, and Unemployment is. Gross Domestic Product is the value of all goods and services produced in a country during one year.(Macro economy, 11,) The second macroeconomic indicator as well as macroeconomic problem is Inflation. It's occurs when quantity of money within economy increases faster than production showing itself in growth of prices. Unemployment is a problem and macroeconomic indicator as well. When a certain percentage of people that are considered to be a part of labor force, are willing to work but there are not jobs available in the market and therefore they cannot find a job. These 3 macroeconomic indicators and problems (inflation and unemployment), do indicate the state of economy. Also, they influence may the economy in positive and negative way. An example of negative inflatory influence occurred in post war Germany, where the inflation rate was more than 50% and the money had practically no value. The prices of goods and services increased so rapidly, people lost their confidence within the economy. It was calmed just when thigh monetary and disinflatory policy was introduced. Fortunately, with government involvement and concrete disinflatory laws,

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  • Level: University Degree
  • Subject: Business and Administrative studies
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The Economic Benifits of a Professional Military

The Economic Benefits of a Professional Military In late 2006, Congressman Charles Rangel, D-NY, made headlines when he proposed a bill to reinstate military conscription. Citing a disproportionate number of poor and minority groups in the enlisted service, as well as the current administration's unpopular war in Iraq, Congressman Rangel portrayed mandatory service as an equitable way to spread the obligation of national security. Rangel also argued that under conscription, politicians would be less likely to vote for pre-emptive military action knowing that such a move would be unpopular with constituents. In addition to Congressman Rangel's arguments, others have questioned the U.S.'s ability to cope with the global war on terror given its current military size. The debate over whether a professional army is better than one derived by conscription, and vice versa, is one that has been waged for hundreds of years. Our analysis is a look into the economic arguments for why a professional army, i.e. an all volunteer force, is better than one created via conscription, or as it is more popularly known in the US a "draft". It is important to note however that our arguments are based on the underlying assumption that the United States is not in a "Full War" situation. Under Full War circumstances, a country mobilizes all of its available resources in an effort to prevent

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  • Level: University Degree
  • Subject: Business and Administrative studies
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A critique of Gallaher & Robinson's 'The Imperialism of Free Trade'

A critique of Gallaher & Robinson's 'The Imperialism of Free Trade' "The Imperialism of Free Trade" was written by John Gallagher and Ronald Robinson in 1953, and marked a sharp break with the orthodox theory of Victorian imperialism. In the article, Gallagher and Robinson rejected the idea of a supposed mid-Victorian period of anti-imperialism ("mid-Victorian indifference"), arguing that in order to properly understand the phenomenon of nineteenth century imperialism it was necessary to redefine the historiographical approach, to include the concept of "informal empire", which to them "ought to be a commonplace." Gallagher and Robinson proposed a new definition of imperialism, as being a process of integrating new regions into an expanding economy by political means (through an active government policy). The final component of the hypothesis was the theme of continuity in this process of imperialism. As briefly mentioned earlier, Gallagher and Robinson rejected the idea that imperialism could be neatly categorized into distinct and separate phases of "indifference" and "enthusiasm", dependent upon the rise and fall of free trade. For them, imperialism was a continuous event that operated through various methods, informal and formal - a view expressed in the phrase, "trade with informal control if possible: trade with rule when necessary." The major critic of "The

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Gartland Steel.

Case Facts Gartland Steel was a fully integrated steel producer, the fourth largest in the US. It was the largely accepted industry leader in sensitivity to environmental issues and in its actions to alleviate pollution. The Clean Air Act of 1970 created the EPA (Environmental Protection Agency) to establish and enforce air quality goals. The standards postulated threshold levels beyond which ambient pollutants were damaging to health and welfare. Emission rates standards were set 'stack-by-stack' for most industrial processes. Though the aim was to bring most of the geographical areas within the purview of the Act, 160 of the 247 regions were non-compliant by the 1975 deadline. The main reason was found to be the high costs of implementing 'stack-by-stack' standards. Offset Policy To counter this problem, the EPA created the 'offset' policy which allowed firms to trade pollution rights within non-attainment regions. In this policy, the companies were allowed intra-pollution category trading but not inter-pollution category trading. This led to a market in pollution rights. Bubble Policy This was a derivative of the offset policy. As per this policy, a firm would be free to decide how to bring the net level of pollution within standards, as against installation of mandated stack-by-stack equipment. The policies were however complex and approval by authorities was

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Advise on the changes in citizens' welfare caused by the increase in university fees, considering the resultant partial switch from public to private funding of university education.

Microeconomic Essay 2003/04 Advise on the changes in citizens' welfare caused by the increase in university fees, considering the resultant partial switch from public to private funding of university education. Citizen Welfare can be measured using several economic forms of analysis. The current controversy over the introduction of top up fees have led people to evaluate the effective increase in consumer prices. Any change in policy can have both good and bad effects on different groups of society. For many problems in society, we wish to observe the effects of a policy change and its repercussions on the welfare of society. In this paper I will attempt to discuss the result of an increase in university fees by examining the Marshallian and the Hicksian measures of consumer surplus. I will consider the differences in analysis and the outcome of applying them to the situation. In the situation of an increase in fees, we are essentially looking at an increase in price. The diagram below shows a monetary loss due to the increase in price from p1 to p2. Students are now paying more for their tuition they are consuming. After the price increase the student moves from x1 to x2 at a new higher price of p2. Each unit of education is now more expensive by an amount of (p2 - p1). The result of this means that the student now has to pay (p2 - p1)x2 more money than before.1 Due to

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  • Level: University Degree
  • Subject: Business and Administrative studies
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There are many benefits in free trade yet so many countries erect trade barriers - Explain why this is so using examples from the global economy

Introduction to Global Economics: Coursework Assessment 1: There are many benefits in free trade yet so many countries erect trade barriers. Explain why this is so using examples from the global economy. Develop the following points - The advantages and disadvantages of free trade - Barriers to trade - Reasons for Protectionism The aim of my essay is to explain free trade within an economy and its features. I will also assess the advantages and disadvantages associated with free trade. I will then proceed to explain the barriers that can be erected by countries towards trade and the reasons for Protectionism. I will illustrate this by using examples from the global economy. Free Trade is "where countries remove tariffs and quotas between themselves and the countries they trade with" (Sloman, Essentials of Economics, p 415). Countries participate in trade for a variety of reasons: to develop, to specialise, reduce costs and to achieve comparative advantages. Because of these reasons it makes sense to remove barriers between the countries they trade with to reap all the advantages. Many countries make a move towards free trade by joining preferential trading arrangements. Preferential trading systems generally are based on the regional grouping of countries and allow countries to remove restrictions between themselves and member countries, but maintain them with the

  • Word count: 1029
  • Level: University Degree
  • Subject: Business and Administrative studies
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