Second Industrial Revolution: Impacts and Transformations
The Second Industrial Revolution and the New International Leadership
The Second Industrial Revolution significantly altered the international leadership established during the First Industrial Revolution. Key developments included:
- New energy sources: Electricity (hydroelectric and thermal) and oil.
- New energy converters: Dynamos, generators, and turbines.
- New materials: Steel and soft iron, along with plastics and fertilizers.
- New industries: Petrochemicals emerged as a major sector.
The Second Industrial
Read MoreEconomic Policies: GDP, Employment, Inflation, and Redistribution
Types of GDP Critique
- Political Critique: Insists that regardless of the size and evolution of the national economy as measured by GDP, the sheer magnitude of the GDP is an important fact.
- Ecological Critique: Consists of indifference to accounting for the natural environment, taking into account that the economy is human action, and that human life is inevitably dependent on the ecosystem. A disregard for nature in the accounts is very dangerous. Economic growth has environmental costs.
- Gender Critique:
Macroeconomics: Key Indicators and Economic Activity
Introduction to Macroeconomics
Macroeconomics focuses on the overall behavior of the economic system, reflected in a reduced number of variables such as production, employment, investment, consumption, and the type of economy. This search image shows the operation of the economy as a whole. Its objective is to obtain a simplified view of the functioning of the economy, but at the same time, it allows us to know and act on the level of economic activity within a country or a group of countries.
Key
Read MoreStrategic Management: Competitive Advantage and Business Planning
Competitive Advantage
Competitive advantage is the ability of a firm to win consistently over the long term in a competitive situation.
- It is created by having and managing resources to provide goods and services that meet the following criteria:
- They provide superior value.
- They are rare— competitors do not provide similar products and services in quality and quantity.
- They are difficult to imitate.
- They are non-substitutable.
Superior Value
Firms provide products and services that deliver value superior
Read MoreKey Marketing Concepts and Strategies for Businesses
1. The Importance of Shape, Color, and Design
The physical aspect of a product is crucial. It has two main objectives:
- Individualization: Satisfying the diverse desires of consumers.
- Rationalization: Streamlining manufacturing, use, and sales.
Color is closely associated with form and serves to attract consumers’ attention. Design is an intrinsic characteristic that enhances usability and aesthetics. Examples: Apple products are known for their sleek design and vibrant colors, while IKEA focuses on
Read MoreCorporate Finance: Capital, Markets, and Global Trends
CH12: Determinants of Cost-of-Capital (COC) Differences
- Legal System: Stronger laws lead to a lower COC.
- Transparency: Better disclosure leads to lower equity costs.
- IFRS (International Financial Reporting Standards) Adoption: Standardized reporting leads to global comparability.
- Market Imperfections: Barriers increase cost; international ownership decreases cost.
- Investor Base: A larger base leads to lower financing costs.
Trends in Correlations Across Time
- Increasing Correlation: Globalization and common