Key Economic Concepts: Profit Theories, Investment Drivers, and Keynesian Employment
Understanding Theories of Profit
Profit is the reward earned by an entrepreneur for organizing and managing the factors of production. Economists have proposed various theories to explain the origin and nature of profit. Each theory highlights a different aspect of entrepreneurship. The six major theories of profit are explained below:
1. Rent Theory of Profit – F.A. Walker
- This theory compares profit to rent.
- Just like landowners receive rent for using more fertile land, entrepreneurs earn profit
Global Media Evolution and Internet Influence
Media Imperialism and Western Influence
Media imperialism, a facet of cultural imperialism, is primarily associated with Western media, particularly the U.S., due to its influence and dominance over less developed countries, shaping their cultures. For instance, U.S. Hollywood has historically held significant sway.
However, regional and local media powerhouses like Al Jazeera and Bollywood are now competing with, and contributing to, the decline of Hollywood’s singular dominance.
Shifting Global Media
Read MoreKey Events of the French Revolution
The Revolution
A) The Estates-General of 1789
- People began to call for an immediate meeting of the Estates-General to deal with the crisis.
- The Estates-General was an assembly composed of representatives from the three French estates: clergy, nobility, and the commoners (Third Estate).
- The main argument was the form of voting:
- Each of the three estates, one vote (supported by the privileged)
- A vote by head (supported by the Third Estate)
- The Estates-General assembled at Versailles in May 1789.
B) National
Read MoreMicrobiology Fundamentals: Cells, Pathogens, and Immunity
General Microbiology Fundamentals
Prokaryotic vs. Eukaryotic Cells
Prokaryotic: No nucleus (e.g., Bacteria, Archaea)
Eukaryotic: Possess a nucleus (e.g., Protists, Fungi, Plants, Animals)
Unicellular vs. Multicellular Organisms
Bacteria and Protists are unicellular; Fungi can be unicellular or multicellular; Plants and Animals are multicellular.
Modes of Nutrition
Autotrophs: Produce their own food (e.g., plants)
Heterotrophs: Consume other organisms (e.g., animals)
Decomposers: Break down dead organic matter
International Business Concepts: Demographics, Culture, Organization, Marketing & HR
Socio-demographic Factors
International Demographic Patterns
The dynamics of population change are closely interrelated with patterns of economic development. Key issues include:
- Population density
- Fertility
- Mortality
- Migration
Demographic Indicators
- Birth rate
- Annual number of births per population
- Mortality rate
- Annual number of deaths per population
- Infant mortality rate
- Number of deaths of children under one year of age per number of births
- Life expectancy
- Length of life of individuals
- Total fertility rate
- Average
Geological Processes Shaping Earth’s Surface
External Geodynamic Processes
External geodynamic processes occur on land or close to it. External geological agents include: rain, rivers, wind, sea, and ice. These agents produce weathering, erosion, transportation, and sedimentation. Moreover, they redistribute land, shaping the relief, and transform sediments into sedimentary rocks.
Weathering: Transformation of Earth’s Surface
Weathering is the set of changes experienced by lithospheric materials in contact with the atmosphere, hydrosphere, or
Read MoreFrancoist Spain’s Transformation: From Isolation to Economic Growth
Francoist Spain’s End of Isolation: US Agreement
From 1948, however, the international situation began to turn in favor of the regime. The Cold War between the U.S. and the USSR led Western powers to overlook the totalitarian nature of Francoist Spain to incorporate it into the anti-communist alliance. Diplomatic pressure and trade restrictions began to fade, finally leading to favorable statements regarding Spain’s isolation.
In 1950, when negotiations had already begun between the U.S. and the Vatican,
Read MoreComparative Politics: Electoral Systems and Analytical Methods
Comparative Political Analysis
Hypothesis: Countries that use proportional representation are more likely to have multi-party legislatures than countries that use first-past-the-post voting systems.
In comparative politics, the method of agreement and the method of difference are tools we use to figure out what might be causing certain political outcomes by comparing different countries. They help us look beyond surface differences and get to the root of what really matters.
The Method of Agreement
The
Read MoreAfter-Sales Service: Boosting Customer Loyalty & Business Growth
After-Sales Service: Definition and Importance
After-sales service encompasses the mechanisms and tasks an organization employs post-sale to achieve complete customer satisfaction. It serves as a crucial source of information and should be viewed as an investment. It is often easier to sell new products to satisfied customers than to acquire new ones. Furthermore, their recommendations can attract new customers, fostering organic growth.
Advantages of After-Sales Service
- Provides greater customer satisfaction.
Job Application Documents & Interview Fundamentals
Understanding Key Job Application Documents
What is a Résumé?
A résumé (from French, meaning “summary”) is ideally a concise summary of a person’s education, skills, and employment history when applying for a job. It does not list every detail of a profile, but rather specific skills customized to the target job. A résumé is usually one or two pages long and is typically written in the third person to maintain an objective and formal tone.
What is a Curriculum Vitae (CV)?
A Curriculum Vitae
Read More