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State-owned Companies
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and deve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of market control. This is just a partial description of the concept. Economies of scale apply to a variety of the organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industry (economics)
In macroeconomics, an industry is a branch of an economy that Production (economics) , produces a closely-related set of raw materials, Good (economics) , goods, or Service (economics) , services. For example, one might refer to the wood industry or to the insurance industry. When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate (company), conglomerate) Diversification (m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million. Across its social media platforms, it reaches an audience of 35 million, as of 2016. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Bloc
The Eastern Bloc, also known as the Communist Bloc and the Soviet Bloc, was the group of socialist states of Central and Eastern Europe, East Asia, Southeast Asia, Africa, and Latin America under the influence of the Soviet Union that existed during the Cold War (1947–1991). These states followed the ideology of Marxism–Leninism, in opposition to the Capitalism, capitalist Western Bloc. The Eastern Bloc was often called the Second World, whereas the term "First World" referred to the Western Bloc and "Third World" referred to the Non-Aligned Movement, non-aligned countries that were mainly in Africa, Asia, and Latin America but notably also included former Tito–Stalin split, pre-1948 Soviet ally SFR Yugoslavia, which was located in Europe. In Western Europe, the term Eastern Bloc generally referred to the USSR and Central and Eastern European countries in the Comecon (East Germany, Polish People's Republic, Poland, Czechoslovak Socialist Republic, Czechoslovakia, Hungarian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvation, ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationalization
Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy – telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water – though, in many jurisdictions, many such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former owners. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Western Europe
Western Europe is the western region of Europe. The region's countries and territories vary depending on context. The concept of "the West" appeared in Europe in juxtaposition to "the East" and originally applied to the ancient Mediterranean world, the Roman Empire (Western Roman Empire and Eastern Roman Empire), and medieval "Christendom" (Western Christianity and Eastern Christianity). Beginning with the Renaissance and the Age of Discovery, roughly from the 15th century, the concept of ''Europe'' as "the West" slowly became distinguished from and eventually replaced the dominant use of "Christendom" as the preferred endonym within the region. By the Age of Enlightenment and the Industrial Revolution, the concepts of "Eastern Europe" and "Western Europe" were more regularly used. Historical divisions Classical antiquity and medieval origins Prior to the Roman conquest, a large part of Western Europe had adopted the newly developed La Tène culture. As the Roman domain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Europe
Eastern Europe is a subregion of the Europe, European continent. As a largely ambiguous term, it has a wide range of geopolitical, geographical, ethnic, cultural, and socio-economic connotations. The vast majority of the region is covered by Russia, which spans roughly 40% of the continent's landmass while accounting for approximately 15% of its total population."The Balkans" , ''Global Perspectives: A Remote Sensing and World Issues Site''. Wheeling Jesuit University/Center for Educational Technologies, 1999–2002. It represents a significant part of Culture of Europe, European culture; the main socio-cultural characteristics of Eastern Europe have historically been defined by the traditions of Slavs and Greeks, as well as by the influence of Eastern Christianity as it developed through t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transaction Costs
In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. Oliver E. Williamson defines transaction costs as the costs of running an economic system of companies, and unlike production costs, decision-makers determine strategies of companies by measuring transaction costs and production costs. Transaction costs are the total costs of making a transaction, including the cost of planning, deciding, changing plans, resolving disputes, and after-sales. Therefore, the transaction cost is one of the most significant factors in business operation and management. Oliver E. Williamson's ''Transaction Cost Economics'' popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs, boost economic growth.North, Douglass C. 1992. “Transac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
User Fee
A user fee is a fee, tax, or impost payment paid to a facility owner or operator by a facility user as a necessary condition for using the facility. People pay user fees for the use of many public services and facilities. At the federal level in the United States, there is a charge for walking to the top of the Statue of Liberty, to drive into many national parks, and to use particular services of the Library of Congress. States may charge tolls for driving on highways or impose a fee on those who camp in state parks. Communities usually have entrance fees for public swimming pools and meters for parking on local streets as well as perhaps even parking spaces at public beaches, dump stickers and postage stamps. In international development, user fees refer to a system fee for basic health care, education, or other services implemented by a developing country to make up for the costs of these services. The International Monetary Fund often recommends that nations start charging ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spillover Effect
In economics a spillover is an economic event in one context that occurs because of something else in a seemingly unrelated context. For example, externalities of economic activity are non-monetary spillover effects upon non-participants. Odors from a rendering plant are negative spillover effects upon its neighbors; the beauty of a homeowner's flower garden is a positive spillover effect upon neighbors. In the same way, the economic benefits of increased trade are the spillover effects anticipated in the formation of multilateral alliances of many of the regional nation states: e.g. SAARC (South Asian Association for Regional Cooperation), ASEAN (Association of South East Asian Nations). In an economy in which some markets fail to clear, such failure can influence the demand or supply behavior of affected participants in other markets, causing their effective demand or effective supply to differ from their notional (unconstrained) demand or supply. Another kind of spillover is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
