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False Economy
In economics, a false economy is an action that does save money at the beginning but which, over a longer period of time, results in more money being spent or wasted than being saved. For example, it may be false economy if a city government decided to purchase the cheapest automobiles for use by city workers to save money; however, if cheap automobiles have a record of needing more frequent repairs, the additional repair costs would eradicate any initial savings. Motivating factors on the part of the party engaging in a false economy may be linked to the long-term involvement of this party. For example, a real estate developer who builds a condominium may turn the finished structure over to the ensuing condominium corporation which is run by its members once the last unit is sold and the building has passed a final inspection. Longevity of the components of the structure beyond the final turnover of the facility may not be a major motivating factor for the developer, meaning that t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frederick William I Of Prussia
Frederick William I (german: Friedrich Wilhelm I.; 14 August 1688 – 31 May 1740), known as the "Soldier King" (german: Soldatenkönig), was King in Prussia and Elector of Brandenburg from 1713 until his death in 1740, as well as Prince of Neuchâtel. He was succeeded by his son, Frederick the Great. Early years He was born in Berlin to King Frederick I of Prussia and Princess Sophia Charlotte of Hanover. During his first years, he was raised by the Huguenot governess Marthe de Roucoulle. When Great Northern War plague outbreak devastated Prussia, the inefficiency and corruption of the king's favorite ministers and senior officials were highlighted. Frederick William with a party that formed at the court brought down the leading minister Johann Kasimir Kolbe von Wartenberg and his cronies following an official investigation that exposed Wartenberg's huge-scale misappropriation and embezzlement. His close associate August David zu Sayn-Wittgenstein-Hohenstein was imprisoned at Sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Macaulay
Thomas Babington Macaulay, 1st Baron Macaulay, (; 25 October 1800 – 28 December 1859) was a British historian and Whig politician, who served as the Secretary at War between 1839 and 1841, and as the Paymaster-General between 1846 and 1848. Macaulay's '' The History of England'', which expressed his contention of the superiority of the Western European culture and of the inevitability of its sociopolitical progress, is a seminal example of Whig history that remains commended for its prose style. Early life Macaulay was born at Rothley Temple in Leicestershire on 25 October 1800, the son of Zachary Macaulay, a Scottish Highlander, who became a colonial governor and abolitionist, and Selina Mills of Bristol, a former pupil of Hannah More. They named their first child after his uncle Thomas Babington, a Leicestershire landowner and politician, who had married Zachary's sister Jean. The young Macaulay was noted as a child prodigy; as a toddler, gazing out of the window fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reichsthaler
The ''Reichsthaler'' (; modern spelling Reichstaler), or more specifically the ''Reichsthaler specie'', was a standard thaler silver coin introduced by the Holy Roman Empire in 1566 for use in all German states, minted in various versions for the next 300 years, and containing 25–26 grams fine silver.MAIN reference p 360-393: German monetary system https://books.google.com/books?id=GrJCAAAAIAAJ&pg=PA360#v=onepage&q&f=false ''Reichsthaler'' was also the name of a currency unit worth less than the ''Reichsthaler specie'' introduced by several North German states from the 17th century; discussed separately under ''North German thaler''. Several old books confusingly use the same term ''Reichsthaler'' for the specie silver coin as well as the currency unit. This is disambiguated by referring to the full-valued coin as the '' Reichsthaler specie'' and the lower-valued currency unit as the ''Reichsthaler currency (courant, kurant)''. History The ''Reichsthaler'' - literally, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Counterfeit Consumer Goods
Counterfeit consumer goods (or counterfeit and fraudulent, suspect items - CFSI) are goods, often of inferior quality, made or sold under another's brand name without the brand owner's authorization. Sellers of such goods may infringe on either the trademark, patent or copyright of the brand owner by passing off its goods as made by the brand owner.Chaudhry, Peggy E., Zimmerman, Alan. ''The Economics of Counterfeit Trade: Governments, Consumers, Pirates and Intellectual Property Rights'', Springer Science & Business Media (2009) Counterfeit products made up 5 to 7% of world trade in 2013,"Challenging the Counterfeit Connector Conundrum" ''Connector Supplier'', November 4, 2013 [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Do It Yourself
"Do it yourself" ("DIY") is the method of building, modifying, or repairing things by oneself without the direct aid of professionals or certified experts. Academic research has described DIY as behaviors where "individuals use raw and semi-raw materials and parts to produce, transform, or reconstruct material possessions, including those drawn from the natural environment (e.g., landscaping)". DIY behavior can be triggered by various motivations previously categorized as marketplace motivations (economic benefits, lack of product availability, lack of product quality, need for customization), and identity enhancement (craftsmanship, empowerment, community seeking, uniqueness). The term "do-it-yourself" has been associated with consumers since at least 1912 primarily in the domain of home improvement and maintenance activities. The phrase "do it yourself" had come into common usage (in standard English) by the 1950s, in reference to the emergence of a trend of people undert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planned Obsolescence
In economics and industrial design, planned obsolescence (also called built-in obsolescence or premature obsolescence) is a policy of planning or designing a product with an artificially limited useful life or a purposely frail design, so that it becomes obsolete after a certain pre-determined period of time upon which it decrementally functions or suddenly ceases to function, or might be perceived as unfashionable. The rationale behind this strategy is to generate long-term sales volume by reducing the time between repeat purchases (referred to as "shortening the replacement cycle"). It is the deliberate shortening of a lifespan of a product to force people to purchase functional replacements. Planned obsolescence tends to work best when a producer has at least an oligopoly. Before introducing a planned obsolescence, the producer has to know that the customer is at least somewhat likely to buy a replacement from them (see brand loyalty). In these cases of planned obsolescence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is the state of having few material possessions or little income. Poverty can have diverse social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: ''absolute poverty'' compares income against the amount needed to meet basic needs, basic personal needs, such as food, clothing, and Shelter (building), shelter; ''relative poverty'' measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of ''relative poverty'' varies from one country to another, or from one society to another. Statistically, , most of the world's population live in poverty: in Purchasing Power Parity, PPP dollars, 85% of people live on less than $30 per day, two-thirds live on less than $10 per day, and 10% live on less than $1.90 per day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Cost Of Ownership
Total cost of ownership (TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or service. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs. For manufacturing, as TCO is typically compared with doing business overseas, it goes beyond the initial manufacturing cycle time and cost to make parts. TCO includes a variety of cost of doing business items, for example, ship and re-ship, and opportunity costs, while it also considers incentives developed for an alternative approach. Incentives and other variables include tax credits, common language, expedited delivery, and customer-oriented supplier visits. Use of concept TCO, when incorporated in any financial benefit analysis, provides a cost basis for determining the total economic value of an investment. Examples include: return on investment, internal rate of return, economic value ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planned Obsolescence
In economics and industrial design, planned obsolescence (also called built-in obsolescence or premature obsolescence) is a policy of planning or designing a product with an artificially limited useful life or a purposely frail design, so that it becomes obsolete after a certain pre-determined period of time upon which it decrementally functions or suddenly ceases to function, or might be perceived as unfashionable. The rationale behind this strategy is to generate long-term sales volume by reducing the time between repeat purchases (referred to as "shortening the replacement cycle"). It is the deliberate shortening of a lifespan of a product to force people to purchase functional replacements. Planned obsolescence tends to work best when a producer has at least an oligopoly. Before introducing a planned obsolescence, the producer has to know that the customer is at least somewhat likely to buy a replacement from them (see brand loyalty). In these cases of planned obsolescence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boots Theory
The Sam Vimes "Boots" theory of socioeconomic unfairness, often called simply the boots theory, is an economic theory first popularised by English fantasy writer Terry Pratchett in his 1993 '' Discworld'' novel '' Men at Arms''. In the novel, Sam Vimes, the captain of the Ankh-Morpork City Watch, reasons that poverty causes greater expenses to the poor than to those who are richer. Since its publication, the theory has received wider attention, especially in regard to the effect of increasing prices of daily necessities. Conception In the '' Discworld'' series of novels, Sam Vimes is the curmudgeonly but incorruptible captain of the City Watch of the medieval city-state of Ankh-Morpork. The boots theory comes from a passage of the 1993 novel '' Men at Arms'', the second novel to focus on the City Watch, in which he muses about his experiences of poverty as compared to his fiancée Lady Sybil Ramkin's conception of poverty: The theory has its antecedents; in Robert Tresse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues. Microeconomics also deal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
