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Trade Unions Disestablished In 1922
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services, i.e. trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and letter of credit, paper money, and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. In one modern view, trade exists due to specialization and the division of labour, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mass Production
Mass production, also known as flow production or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods. The term ''mass production'' was popularized by a 1926 article in the ''Encyclopædia Britannica'' supplement that was written based on correspondence with Ford Motor Company. ''The New York Times'' used the term in the title of an article that appeared before publication of the ''Britannica'' article. The concepts of mass production are applied to various kinds of products: from fluids and particulates handled in bulk (food, fuel, chemicals and mined minerals), to parts and assemblies of parts (household appliances and automobiles). Some mass production techniques, such as standardized sizes and production lines, predate the Industrial Revolution by many centuries; however, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption (economics)
Consumption is the act of using resources to satisfy current needs and wants. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economists, only the final purchase of newly produced goods and services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. the selection, adoption, use, disposal and recycling of goods and services). Economists are particularly interested in the relationship betwee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mail
The mail or post is a system for physically transporting postcards, letter (message), letters, and parcel (package), parcels. A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal systems have generally been established as a government monopoly, with a fee on the article prepaid. Proof of payment is usually in the form of an adhesive postage stamp, but a postage meter is also used for bulk mailing. With the advent of email, the retronym "snail mail" was coined. Postal authorities often have functions aside from transporting letters. In some countries, a Postal Telegraph and Telephone, postal, telegraph and telephone (PTT) service oversees the postal system, in addition to telephone and telegraph systems. Some countries' postal systems allow for savings accounts and handle applications for passports. The Universal Postal Union (UPU), established in 1874, includes 192 member countries a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
