Economics

A:

Managerial capitalism posits that dominant CEOs would no longer run businesses but instead hired employees would run the businesses as a new class of professional CEOs. Adolf A. Berle and Gardiner C. Means first make this proposal in their 1932 treatise "The Modern Corporation and Private Property" in which they endorse the idea that owners turn companies over to professional managers.

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  • What are China's major imports and exports?

    Q: What are China's major imports and exports?

    A: The top five exports of China are computers, broadcasting equipment, telephones, office machine parts and integrated circuits. China's top five imports are crude petroleum, integrated circuits, iron ore, gold and cars.
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  • What is the definition of managerial capitalism?

    Q: What is the definition of managerial capitalism?

    A: Managerial capitalism posits that dominant CEOs would no longer run businesses but instead hired employees would run the businesses as a new class of professional CEOs. Adolf A. Berle and Gardiner C. Means first make this proposal in their 1932 treatise "The Modern Corporation and Private Property" in which they endorse the idea that owners turn companies over to professional managers.
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  • What are the imports and exports of Monaco?

    Q: What are the imports and exports of Monaco?

    A: Monaco exports textiles, manufactured products and art products. The principality imports food, chemicals and transportation products. Monaco's import industry is smaller than its export industry. As of 2014, the area's largest trading partners were countries in the European Union. Monaco also trades with the United States and China.
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  • Who uses the barter system today?

    Q: Who uses the barter system today?

    A: Bartering is a popular form of trade for individuals, families and businesses seeking to save money. Some small- and medium-sized businesses join bartering networks to exchange various goods and services. Barter networks help businesses grow by brokering deals to exchange items such as copiers, phone systems, work shirts, carpet cleaning and even real estate.
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  • What role do banks play in a nation's economy?

    Q: What role do banks play in a nation's economy?

    A: Banks play an important part in a nation's economy by providing a safe foundation for individuals and businesses to invest or deposit their money, which allows the bank to use the money in its possession for loans. The ability for the public to receive these loans enables them to make purchases, which drives the economy at different levels.
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  • What income is considered middle class?

    Q: What income is considered middle class?

    A: Based on U.S. Census data collated for 2012, Robert Reich has defined being middle class as earning around $25,500 to $76,500 in income, according to U.S. News and World Report. Reich was the Secretary of Labor from 1993 to 1997, and, as of 2014, he taught public policy at the University of California-Berkeley. There is not a single definition of what constitutes a middle class income.
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  • What are economic factors?

    Q: What are economic factors?

    A: Economic factors comprise the information that influences the value of an investment or business. When you are calculating the present and anticipated future value of an investment portfolio or a business, the economic factors are what you bear in mind. The primary economic factors are management, taxes, government policy, interest rates and labor costs.
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  • What is the definition of urban decline?

    Q: What is the definition of urban decline?

    A: Urban decline is the deterioration of a city as a result of poor maintenance and lack of investment. The characteristics of urban decline include increased unemployment rates, decreased economic performance, and poor housing and health facilities.
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  • What is the difference between a recession and a depression?

    Q: What is the difference between a recession and a depression?

    A: A recession is a period of time that lasts more than a few months where the economy gets significantly worse; a depression is defined as a severe recession where things plummet dramatically. A recession does not always lead to a depression, but a depression is always the result of a recession.
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  • What are England's main exports?

    Q: What are England's main exports?

    A: England's main exports include fuels, beverages, tobacco, chemicals and food. England primarily exports to the United States, Germany, the Netherlands, Ireland and France.
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  • What kind of economy does Argentina have?

    Q: What kind of economy does Argentina have?

    A: Argentina has a free-market economy heavily based on agriculture and agricultural exports. The country also has growing industrial and service sectors. The quality of life and GDP per capita are relatively high, especially when compared to other countries in Latin America.
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  • What is economic liberalization?

    Q: What is economic liberalization?

    A: Economic liberalization refers to those government policies which promote economic growth by opening up trade to international markets, extending the use of markets and lessening the restrictions and regulations placed on business. China, Brazil and India, three of the fastest growing transitioning economies, achieved their economic growth after their governments liberalized their approach to business. This has led some economists to believe that economic reform is of greater importance than political reform in developing economies.
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  • What are Cuba's major imports and exports?

    Q: What are Cuba's major imports and exports?

    A: Cuba's major imports are refined petroleum, packaged medicaments, wheat, corn and soybean meal, and the country's top exports are nickel mattes, raw sugar, refined petroleum, packaged medicaments and rolled tobacco. Cuba also exports citrus, coffee and fish, as well as the services of its doctors and other health care personnel. Other top imports include machinery, equipment and chemicals.
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  • What is a comparative advantage compared to an absolute advantage?

    Q: What is a comparative advantage compared to an absolute advantage?

    A: According to Library of Economics and Liberty, comparative advantage is when someone provides a good or service at a lower cost than his competitors. Absolute advantage occurs when a product or service provider is the best at producing a good or service over its competitors.
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  • What are the advantages and disadvantages of a traditional economy?

    Q: What are the advantages and disadvantages of a traditional economy?

    A: Some of the advantages of a traditional economy include a stable marketplace and the preservation of culture and customs, but limiting the power of individual choice and minimal societal progress are clear disadvantages. Various cultures throughout the world maintain a traditional economy for generation after generation to sustain the society. A country’s refusal to adapt to modern ways of living impedes transformational progress for every citizen.
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  • What is the primary purpose of business?

    Q: What is the primary purpose of business?

    A: The primary purpose of business is to make money. A business may sell a product or provide a service in its effort to make money for its owner or owners.
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  • What is the law of variable proportions?

    Q: What is the law of variable proportions?

    A: The law of variable proportions is an economics term that describes when a business increases one factor of production while keeping another factor constant, causing the increase of production levels created through these changing factors to decrease gradually. In essence, this law describes changing the proportion of two or more factors in a process used to create the same product to increase returns, eventually resulting in lesser output.
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  • What countries have a market economy?

    Q: What countries have a market economy?

    A: Countries whose economies attract minimal involvement of the government have a market economy. According to a 2013 Index of Economic Freedom, the United States, Canada, Denmark, the United Kingdom, Hong Kong and Mauritius have a market economy. Most market economies have a degree of state-dictated planning and are thus categorized as mixed economies.
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  • What are the G7 countries?

    Q: What are the G7 countries?

    A: The member states of the G7 are the United States, United Kingdom, France, Canada, Italy, Japan and Germany. They are collectively known as the "Group of Seven," and represent the world's largest industrialized economies. The G7's finance ministers and heads of state meet periodically to set international economic policy.
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  • What are characteristics of a command economy?

    Q: What are characteristics of a command economy?

    A: A command economy is one in which the government is the chief agent in all major economic actions. The government goes as far as to determine what is to be made, how much is made, how it is distributed and how it is transformed into services the public can use. In many instances, even prices are set by the government.
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  • What is the economic meaning of demand?

    Q: What is the economic meaning of demand?

    A: In economics, demand is a measure of how much buyers want or need a product. For example, consumers may collectively avoid buying a particular product because they don't understand it or don't believe it has value, resulting in low demand.
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