It is not possible to have democratic societies that emphasize a mix of collectivism and
Right-wing totalitarianism generally permits some individual economic freedom but
restricts individual political freedom.
Judges in a civil
Norms refer to the abstract ideas about what a group believes to be good, right, and
A class system is a more rigid form of social stratification than a caste system in which
social mobility is not possible.
According to Geert Hofst
The most global of markets are not typically markets for industrial goods and materials
but markets for consumer products.
When IMF grants loans to the nation-states, it requires nation-states to adopt specific
economic policies aimed at returning t
Ethical dilemmas are situations in which none of the available alternatives seems
Organization culture refers to the values and norms that are shared among employees
of an organization.
Utilitarianism philosophy includes th
FDI can take the form of a greenfield investment in a new facility or an acquisition of or
a merger with an existing local firm.
For products with a high value-to-weight ratio, transportation costs have a high impact
on the relative attractiveness of
A zero-sum game is one in which a gain by one country results in a loss by another.
The simple comparative advantage model assumed that trade does not change a
country's stock of resources or the efficiency with which it utilizes those resources.
A tariff is a tax levied only on imports.
The infant industry argument is by far the oldest economic argument for government
Paul Krugman argues that a strategic trade policy aimed at establishing domestic firms
in a dominant posi
Entrepreneurship and Innovation
January 24, 2012
Creative destruction describes the way in which the development of a capitalist
economy arises out of the devastation of a prior economic order. Werner Sombart was