Economic theories emphasizes the importance of market forces of demand supply

Economic theories emphasizes the importance of market

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Economic theories emphasizes the importance of market forces of demand & supply in managing the financial activity; defining values, price, and costs, and assigning the limited resources such as the homework market; which was a platform where students performed tasks that earned them something. When looking at the politics of capitalism, power is a vital model; the driving force meant for everything that goes on in government. Aristotle, a philosopher, acknowledged that individuals used their intelligence to define what was just and unjust, which was an essential variance a person has that separates them from animals (Qusaier, 2016). People may wonder why there is a need for a government if there is politics; anarchists see no need for a government whereas libertarians prefer that the government ought to be reduced and only intervene when the rights of individuals are being overturned. However, the government is formed to let the public have the capacity to attain success, safety, freedom, and justice, which is a definitive notion of the public good, where the thought around it, is for the government to use its authority to coerce citizens into acting for the benefit of the general public (Qusaier, 2016).
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QUALITY MANAGEMENT PRACTICE 24 In the theoretical world, it battles with government intrusion, but in practice, it differs from government by-law. The fact is no modern economy can do minus the rules and regulations but a question arises not on whether the rules are obligatory but on who creates these rules and in whose importance. Vital to the realization of a market bargain is competition, not deregulation. This is why capitalism as an ideology disapproves of explicit taxation, mainly on trade; societal well-being, and government. Most capitalists believe in the trickle-down theory; whereby if there are members who are entrepreneurial, they are given a chance to reinvest their wealth instead of giving it all to the tax collector then the economy will improve and the wealth creation would be moved to the lower levels hence everybody benefitting. Non-Financial The medical drug rehab centers’ performance was conceptualized in many different ways in the area of operations management; as the previous scholars are classifying it based on profit- performance. The difference also could be based on the dimensions of the IP; it means to measure the performance concept in either one dimension or more dimensions or even in objective and subjective measures, to sum up, IP could be any organizational results that have been observed in operations management (Qusaier, 2016). Objective and Subjective These measures are another one that took a lot of attention from the researchers in Quality Management Practice studies. A study by Bianchi (2016); Tendon & Müller (2015) focused on the objective measures especially in a cross-sectional study that is not easy to measure non- financial performance using objective data, and that is what was viewed earlier while explaining
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QUALITY MANAGEMENT PRACTICE 25 how difficult to get objective performance measure besides finding a secondary data for financial performance.
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