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Week 5 - Thursday - Université d`Ottawa
Week 5 - Thursday - Université d`Ottawa

... to the process whereby information is produced as a universal binary code, and is thus able to circulate more freely and at ...
The following three countries used different methods to tackle the
The following three countries used different methods to tackle the

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... His standard of living was entirely dependent on his own productivity. ...
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... U.S. and European countries consists of China's ability to produce labor-intensive goods like textiles, which can be produced cheaply in China where labor is abundant and inexpensive. One Chinese economist, Lu Zheng, says this comparative advantage in labor could last two decades and play an importa ...
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... Innovation – new and better ways of doing things Businesses are COMPETING with each other. They have to find ways to make products better or invent new things! They have to hire the most-qualified people to do this…they pay more $ to skilled workers. Workers have an incentive to work hard and get ...
The following three countries used different methods to tackle the
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... economy, such that there is no growth over a long period of time. Government seeks to influence the economy at each of these points in the cycle; however, there is a special policy in which the government can be limited, thus allowing the free market to improve on its own. This is sometimes referred ...
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... medium-sized enterprises, encourage and guide the development of the non-state economy and promote employment growth. The government should set it as an important target of macro-regulation to increase employment scale and control unemployment and put it into the plans of national economic and socia ...
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... value of all goods and services produced by nationals of the country in question, whether they live in the country or other countries. GDP measures the value of goods and services produced only within the borders of a country by all the people who live there (nationals and non-nationals), while GNP ...
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... • Say’s Law named after classical economist Jean Baptiste Say (1767-1832), who popularized the idea • Say’s law states that by producing goods and services – Firms create a total demand for goods and services equal to what they have produced or • Supply creates its own demand ...
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... /kən’trækʃən/, downturn ...
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Profit, the rate of interest and >entrepreneurship

< 1 ... 140 141 142 143 144 145 146 147 148 ... 234 >

Production for use

Production for use is a phrase referring to the principle of economic organization and production taken as a defining criterion for a socialist economy. It is held in contrast to production for profit. This criterion is used to distinguish socialism from capitalism, and was one of the fundamental defining characteristics of socialism initially shared by Marxian socialists, evolutionary socialists, social anarchists and Christian socialists.This principle is broad and can refer to an array of different configurations that vary based on the underlying theory of economics employed. In its classic definition, production for use implied an economic system whereby the law of value and law of accumulation no longer directed economic activity, whereby a direct measure of utility and value is used in place of the abstractions of the price system, money and capital. Alternative conceptions of socialism that don't utilize the profit system such as the Lange model involve the use of a price system and monetary calculation.The central critique of the profits system by socialists is that the accumulation of capital (""making money"") becomes increasingly detached from the process of producing economic value, leading to waste, inefficiency, and social issues. Essentially it is a distortion of proper accounting based on the assertion of the law of value instead of the ""real"" costs of the factors of production, objectively determined outside of social relations.
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