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Economies exposed to international market, the exporters are facing high domestic cost and reducing profit margin as the value of Dollar is dropping fast. The uncertainty and complexity of inflation and dented growth in the developed countries further squeezed the order volume of these manufacturers. To illustrate, imagine three main economic problems faced by world economies, world inflation, truncated growth and lower economic activity.
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What is the difference between economic and non-economic activity?
economic activities are done to earn more and more money. this sort of activities are not done because of love or affection but for personal intrest, whereas non economic activities are do for love, pleasure, sympathy, etc. example for economic activities are :- 1. a doctor working at his clinic 2. a carpenter working at his workshop example for non economic activities are :- 1. a child helping an old man cross the road
What is the definition of non economic activities?
Activities which are undertaken to satisfy social, religious cultural and sentimental require­ments are called non-economic activities. The object of these activities is not to earn monetary gain or reward.People engage in non-economic activities for reasons of love, sympathy, religion, patriotism, etc. For example, a mother looks after her children, a student donates blood, an old man goes to temple daily, a rich man donates money to Prime Minister Relief Fund; a young man helps a blind girl cross the road, etc.It is the object of any activity that distinguishes between economic and non-economic activities. The primary objective of economic activities is to earn livelihood and create wealth.On the other hand, the main objective of non-economic activities is to get some sort of social, cultural, religious or recreational satisfaction.The output of economic activities can be measured in terms of money e.g., the salary of a teacher, the fee of a doctor and the profits of a businessman. But the result of non-economic activities cannot be measured in terms of money.The same activity may be economic as well as non-economic. For example, a nurse attend­ing a patient in a hospital is an economic activity as the nurse works for a salary.But when the same nurse attends to her sick mother at home it is a non-economic activity because the object is not to earn money.Thus, the activity of the same person may be economic at one-time or place and non-economic at another time or place. The dividing line is not the activity or the person who is doing it but the objective for which it is undertaken.Thus, non-economic activities are undertaken due to the following considerations:(i) Love and affection - for example taking dinner with the family, cooking food for family.(ii) Personal satisfaction - For example meditating in a park.(iii) Physical needs - for example morning walk by a person.(iv) Religious obligation - for example praying in a temple.(v) Social obligations - for example helping victims of an accident, flood or earthquake.(vi) Patriotism - donating blood for injured army men.
Is Colombia a capitalist command or mixed economy?
Colombia has a 'mixed' economy in terms of a certain level of Government regulation in what can be largely considered a free market economy. This is what most Western economies have. A command economy is what the old Communist States had: economic activity was almost totally dictated by Government demands and regulations. A capitalist economy has almost total freedom of economic activity with an absolute minimum of Government involvement. Not even the US has that, much to the regret of the Tea Party.
What type of economy is it where all economic decisions are based on age-old customs?
A traditional economy is where all economic decisions are based on age-old customs.
Why did Lenin have to change the economic ideas of communism?
Pragmatism: the old ideas weren't working. For example, war communism was fine when war was happening, but as soon as peace strikes, it is very much a backward step.
What is the difference between economic and non-economic activity?
economic activities are done to earn more and more money. this sort of activities are not done because of love or affection but for personal intrest, whereas non economic activities are do for love, pleasure, sympathy, etc. example for economic activities are :- 1. a doctor working at his clinic 2. a carpenter working at his workshop example for non economic activities are :- 1. a child helping an old man cross the road
What was one of the most farsighted provisions of the northwest ordinance of 1787?
prohibited slavery in the old northwest
The old Northwest was divided into what?
The Northwest territory was divided into uniform townships and sections. The Northwest territory lasted from 1787 to 1803 when it was then admitted into the US.
What encouraged the settlement of the old northwest?
cheaper land
What is another name for the US Midwest?
The Old Northwest
How many slaves were to be admitted into old northwest?
about 5000
What is pump-priming?
To spur economic activity through investment. The term comes from the way old pumps worked. You had to use water to prime the suction valve so that you could get more water.
Is an old person always constipated?
No. Bowel activity can change in older ages, but it does not mean every older person has same type of bowel movements.
What are the main industries of Manchester?
The main economic activity is bauxite
Which state was the last one to gain statehood in the Old Northwest?
Wisconsin was the last state to gain statehood in the old northwest territories. Wisconsin gained statehood on May 29, 1848.
Where is the Old Northwest Military History Association in Perrysburg Ohio located?
The address of the Old Northwest Military History Association is: Po Box 234, Perrysburg, OH 43552-0234
Farsighted provision of Northwest Ordinance 1787 prohibited what?
The Northwest Ordinance is also known as the Freedom Ordinance of 1787. It was an act of the Congress of the Confederation of the United States, which prohibited slavery in the Old Northwest.
