Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
International Comparisons Method
In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, South Korea examined the profile of development of a few industrialised nations of the world such as Japan, the United States and the Federal Republic of Germany. Other illustrations are: Puerto-Rico used the coefficients arrived at by the United States while Italy used those of France.
Even a model firm of one country can be taken as a model for a similar firm in another country. On a comparative and summative analysis, Korea realised that every increase in national income by one per cent was associated with an increase in participation of high-level manpower by 1.038 per cent. Likewise, the corresponding increase in participation of second level manpower was 1.655 percent.
Based on this information, South Korea planned its manpower supply by adopting the same ratios. This approach of looking to one country as a model cannot be followed by all countries. The chief parameter that controls the process of development in a country is its geographical location. For instance, a country like Nepal which is landlocked cannot think of modelling after Japan or France. Further, apart from geographical factors there are other factors related to the history and culture of the people. For instance, one of the factors associated with Japan’s rise as an industrial power is the quality of the people, their work-culture, self-discipline, entrepreneur-behaviour, etc. Hence, international comparisons as an approach for manpower planning has limited value.
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
International trade: International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bou
problems in traditional economic
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
veblen effect
The End of the Malthusian Age We clearly no longer live in a Malthusian age. For at least 200 years improvements in the efficiency of labor made possible by new technologies a
What is the theory of Second Best? Prove the theorem with the help of a diagram.
Q. Describe Classical Economics? Classical Economics:Tradition of economics which began with Adam Smith and continued with other theorists including Thomas Malthus, David Ricar
Neutrality: Bureaucracy is apolitical and neutral. Prof. Frocderich mentions the following features of bureaucracy: (i) differentiation of functions, (ii) qualifications for o
What is utility maximization according to consumer behavior? Consumer Behavior: Utility Maximization A foundational hypothesis onto individual behavior within modern econ
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd