1. What is the concept of utility? Utility in economics refers to the happiness or satisfaction derived from the consumption of a good or service. Since utility differs from person-to-person, place-to-place, and time-to-time, economists do not care what gives utility and simply accept that one has his or her own preferences (Wheelan, 2012). Although it is impossible to precisely measure utility, some economists use an imaginary measurement, known as “util,” to express utility in numerical terms.
Economic Development in Thailand from 1945 to 1997: Perspective of Labour-Intensive Industrialization 1. Introduction Despite being one of the biggest exporters of some agricultural products such as like rubber and rice, present-days Thailand is the industrial-driven economy. According to the World Bank’s statistics (2015), during 2010-2014, Thailand’s manufacturing sector contributed around 36-40 percent to total GDP (Gross Domestic Products), while Thai agricultural sector possessed about 10 percent
In Economic and Social Environment analysis, we will discuss and analyse the key economic and social indicators in that country such as GDP, GDP / capita, trade volume, population and wages of both Indonesia and Thailand. Indonesia: Indonesia’s economy has expanded greatly over the past decades, the strong pace of growth has made Indonesia an important part of the global economy. It is now the 4th largest economy is East Asia – after China and Japan and South Korea – and the 15th largest economy
CHAPTER 4 FUNDAMENTAL ANALYSIS Fundamental analysis is the study of economic, industry, and company conditions in an effort to determine the value of a company's stock. Here we look at a business from the basic or fundamental financial level. This type of analysis examines key ratios of a business to determine its financial health and thus we get a clear idea about the real value of its stock. Fundamental analysis typically focuses on key statistics in a company's financial statements to determine
improving the educational system, advancing the economic level, or producing and exporting any goods among other states and so on. The essential aspect to advance a country at the global scale is the economic development. The government of Azerbaijan tries to develop the country by means of advancing the economic level.
Korean Economic Development Under Park Chung-Hee Dzhusupbaev Islan Kobe University Abstract President Park Chung-hee governed South Korea from 1961-1979. The main merits of Park Chung-hee’s regime are the normalization of relations with Japan, shift from import substitution to export-led economy and strengthening of economic independence. Since 1961 the state’s economy developed significantly, though, in late 70th it slowed down. In general, during this period South Korea experienced rapid economic
The models of the economic growth, which examine the long-run rise of economy’s production capacities, allow specialists to have a wider outlook at the current economic problems appearing within the countries and at the international arena from the side of the whole historical process of economic development. The main concern of these models is more general and probably more important issues in economics, such as changes in the standards of living, development of scientific and technological progress
use of smartphones also enabled customers to access global markets. All these factors act as driving forces for economic globalization. Economic globalization is one of the three main dimensions of globalization, generally discussed in academic literature. The other two are political globalization and cultural globalization. Economic globalization is defined as, “the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification
Foreign Policy in relation to Economic Diplomacy Today’s governments are facing immense competition from other actors such as religious groups, private sector, media, immigrants and all other possible entities of the civil society who are demanding from the government that they do have a say in making and implementing foreign policy. Economic diplomacy which is gradually overtaking the politics oriented traditional diplomacy. With the growth of transactional economic interactions, the world market
Persistence of Socio-economic inequalities in the post-apartheid era in South Africa: The impact of corruption on sustainable development goas. This paper seeks to ascertain the impact of corruption on sustainable development goals in the post-apartheid South Africa. The paper examines what impact has corruption had on the persistence of socio-economic inequalities in South Africa after gaining freedom from apartheid regime. Despite the fact that the legacy of apartheid regime has had an impact