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.
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
GIVE EXAMPLES OF EACH OLIGOPOLY MODELS FROM REAL LIFE
The Industrial Revolution The century after 1750, saw the industrial revolution proper: invention of steam engine, spinning jenny, power loom, hydraulic press, railroad locomot
WHAT ARE THE COMPONENT OF ECONOMICS
Mixed Economy: This type of economic system combines the features of both the capitalist and socialist economic systems. The private sector is allowed to function on the principles
Why does a monopoly have no supply curve? A supply curve is a curve that shows the quantity supplied at dissimilar prices, as a monopoly sets the price and the quantity togeth
Explain Monetarist and Monetary policy Monetarist: A group of economists who believe that alters in the money supply are the most effective instrument of government economi
Economic Reforms and Foreign Investment Inflows: A major objective of economic reforms was to increase foreign investment, which helps to increase capital formation of the eco
what is the explanation about supply analysis?How to understand?
The Supply Curve – The supply curve exhibits how much of a good manufacturerss are willing to sell at a particular given price, holding constant other factors that can aff
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