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BUREAUCRACY:
M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "officers, clerks, secretaries, inspectors and attendants are not appointed to benefit the public interest. Indeed the public interest appears to have been established so that offices might exist". Harolds J. Laski defines the term bureaucracy as a system of Government, the control of which is so completely in the hands of officials that their power jeopardises the liberties of ordinary citizens. The characteristics of such a regime are a passion for routine in administration, the sacrifice of flexibility to rule, delay in the making of decisions and a refusal to embark upon experiment. In extreme cases, the members of a bureaucracy may become a hereditary caste manipulating Government to their own advantage. Max Weber, the German social scientist thinks that bureaucracy is among those social structures which are the most difficult to eliminate. Bureaucracy is an ideal type as it is based on impersonal and rational basis. Weber classifies the authority as traditional, i.e. "resting on an established belief in the sanctity of immemorial traditions and the legitimacy of the status of those exercising authority under them", charistmatic i.e. "resting on the devotion to the specific and exceptional sanctity, heroism or exemplary character of an individual person, and of the normative patterns or order revealed or ordained by him", and legal, i.e., "resting on the premises of legality of patterns of normative rules and the right of those elevated to authority under such rules to issues commands". Legal authority is superior and more logical than charismatic.
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):
Economic instruments Financial rewards, incentives and penalties that operate automatically via market forces, to encourage beneficial behavior.
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
Paradox of Thrift: An individual household, governmentor business may attempt to save money by reducing their current expenditures. Though those attempts to save, once amalgamated
consumer choice involving risk
Distinguish demand pull, cost push and imported inflation using graphs where appropriate. What are the likely causes of current inflation in Australia? Answer Co
Is Indian companies running a risk by not giving attention to cost cutting
electronic configuration of s block elements
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