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Beyond GDP: other ways to measure the economyKey points Gross national product, or GNP, includes what is produced domestically and what is produced by domestic labor and business abroad in a year. National income includes all income earned: wages, profits, rent, and profit income. Net national product, or NNP, is GNP minus depreciation. Depreciation is the process by which capital ages...0 Комментарии 0 Поделились 12Кб Просмотры 0 предпросмотр
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Beyond GDP: other ways to measure the economyKey points Gross national product, or GNP, includes what is produced domestically and what is produced by domestic labor and business abroad in a year. National income includes all income earned: wages, profits, rent, and profit income. Net national product, or NNP, is GNP minus depreciation. Depreciation is the process by which capital ages...0 Комментарии 0 Поделились 12Кб Просмотры 0 предпросмотр
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Information Services: The Backbone of the Digital EconomyIn today’s increasingly connected world, information is one of the most valuable assets for businesses, governments, and individuals alike. The ability to access, manage, and disseminate information effectively can provide a competitive edge, improve decision-making, and drive innovation. This is where information services come into play. From data management to digital platforms,...0 Комментарии 0 Поделились 4Кб Просмотры 0 предпросмотр
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Major Companies: Pillars of the Global EconomyIn the interconnected world of the 21st century, certain companies have emerged as titans, shaping industries, driving innovation, and influencing the global economy. These major corporations span various sectors, from technology and finance to retail and healthcare, and their reach extends far beyond the products and services they offer. They are not just companies—they are global brands...0 Комментарии 0 Поделились 6Кб Просмотры 0 предпросмотр
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Measuring the size of the economy: gross domestic productKey points The size of a nation’s economy is commonly expressed as its gross domestic product, or GDP, which measures the value of the output of all goods and services produced within the country in a year. *GDP is measured by taking the quantities of all final goods and services produced and sold in markets, multiplying them by...0 Комментарии 0 Поделились 7Кб Просмотры 0 предпросмотр
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The Automotive Business: Driving Innovation and Global EconomyThe automotive business is one of the largest and most influential industries in the world. From the production of vehicles to the global sales networks and aftermarket services, the automotive sector is a key player in shaping economies, employment, and technological advancements. As the demand for vehicles continues to rise globally, automotive companies are under increasing pressure to...0 Комментарии 0 Поделились 3Кб Просмотры 0 предпросмотр
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The next years may be the worst for the world economy, the investor believesWASHINGTON, Dec. 12 — PRIME. The next two or three years may be the worst for the world economy due to the excessive amount of accumulated debts, well-known American investor Jim Rogers said. Rogers is one of the most famous investors in the world and co-founder of the Quantum investment fund, which he created together with billionaire George Soros. Rogers is the author of a number of...0 Комментарии 0 Поделились 15Кб Просмотры 0 предпросмотр
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Understanding Wholesale Trade: Key Insights and Its Role in the EconomyWholesale trade is a fundamental part of the global supply chain and plays a pivotal role in the distribution of goods. Whether it’s bulk purchasing of raw materials, finished goods, or specialized products, wholesale trade ensures that goods are efficiently moved from manufacturers to retailers or directly to consumers. This article explores what wholesale trade is, how it works, and its...0 Комментарии 0 Поделились 4Кб Просмотры 0 предпросмотр
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What is the Creator Economy?The Creator Economy refers to the ecosystem where individuals create and distribute digital content—such as videos, blogs, podcasts, and more—often monetizing their efforts through various platforms and tools. In recent years, this sector has gained immense popularity, thanks to the rise of social media platforms, content-sharing websites, and online tools that facilitate creative...0 Комментарии 0 Поделились 3Кб Просмотры 0 предпросмотр
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Aggregate demand and aggregate supply curvesKey points Aggregate supply is the total quantity of output firms will produce and sell—in other words, the real GDP. The upward-sloping aggregate supply curve—also known as the short run aggregate supply curve—shows the positive relationship between price level and real GDP in the short run. The aggregate supply curve slopes up because...0 Комментарии 0 Поделились 13Кб Просмотры 0 предпросмотр
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Business in Our Current Society: Navigating the Modern LandscapeIn today’s fast-paced and interconnected world, business is more dynamic and complex than ever before. The global marketplace is rapidly evolving, driven by technology, consumer expectations, and societal shifts. Companies face an ever-changing landscape, where adaptability, innovation, and ethical practices are paramount. The rise of digital tools, the importance of sustainability, and...0 Комментарии 0 Поделились 4Кб Просмотры 0 предпросмотр
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Changes in equilibrium price and quantity: the four-step processKey points There is a four-step process that allows us to predict how an event will affect the equilibrium price and quantity using the supply and demand framework. Step one: draw a market model (a supply curve and a demand curve) representing the situation before the economic event took place. Step two: determine whether the economic event being analyzed affects demand...0 Комментарии 0 Поделились 12Кб Просмотры 0 предпросмотр
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Command-and-Control regulationKey points Command-and-control regulation sets specific limits for pollution emissions and/or mandates that specific pollution-control technologies that must be used. Although such regulations have helped to protect the environment, they have three shortcomings: they provide no incentive for going beyond the limits they set; they offer limited flexibility on where and...0 Комментарии 0 Поделились 8Кб Просмотры 0 предпросмотр
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Demand and the Determinants of DemandIn a competitive market, demand for and supply of a good or service determine the equilibrium price. The law of demand Markets have two agents: buyers and sellers. Demand represents the buyers in a market. Demand is a description of all quantities of a good or service that a buyer would be willing to purchase at all prices. According to the law of demand, this relationship...0 Комментарии 0 Поделились 9Кб Просмотры 0 предпросмотр
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Economic efficiencyKey Points Economic efficiency is the idea that it is impossible to improve the situation of one party without imposing a cost on another. If a situation is economically inefficient, it becomes possible to benefit at least one party without imposing costs on others. Consumer surplus is the gap between the price that consumers are willing to...0 Комментарии 0 Поделились 8Кб Просмотры 0 предпросмотр
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Efficiency in perfectly competitive marketsKey points Long-run equilibrium in perfectly competitive markets meets two important conditions: allocative efficiency and productive efficiency. These two conditions have important implications. First, resources are allocated to their best alternative use. Second, they provide the maximum satisfaction attainable by society. Efficiency in perfectly...0 Комментарии 0 Поделились 8Кб Просмотры 0 предпросмотр
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Elasticity in the long run and short runKey points In the market for goods and services, quantity supplied and quantity demanded are often relatively slow to react to changes in price in the short run, but they react more substantially in the long run. As a result, demand and supply often—but not always—tend to be relatively inelastic in the short run and relatively elastic in the long run....0 Комментарии 0 Поделились 9Кб Просмотры 0 предпросмотр
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ESSENCE AND BASIC CONCEPTS OF MANAGEMENTThe essence of management is to manage everything: production, finances, personnel, resources to streamline the management system, from the initial situation to the improvement of results. Management is management in a market economy, a set of principles and methods. means and forms of production management developed in the conditions of a market economy and applied in countries with a...0 Комментарии 0 Поделились 23Кб Просмотры 0 предпросмотр
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