Author : Johnny Ch Lok
Publisher :
ISBN 13 :
Total Pages : 336 pages
Book Rating : 4.5/5 (641 download)
Book Synopsis Economy Theories Solve by : Johnny Ch Lok
Download or read book Economy Theories Solve written by Johnny Ch Lok and published by . This book was released on 2020-11-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economy theory solves business problem, manager can use economics to strategize and solve a variety of business problems. Is it bossible? In fact, the basic problem of an economy ca be solved either by the decisions of the government or by the market through interactions of buyers and sellers. How to judge whether it is one good economic theory? A good theory is simple enough to be understood, when complex enough to capture the key features of the object or situation being studied. Somethimes economists use the term model instead of theory. For example, the most common four economic theories may include: Since the 1930 s, four macroeconomic theories have been proposed: Keynesian economics, monetarism, the new classical economics and supply-side economics . All of these theories are based, in varying degree. So, applied economics solves economic problems may be by solved by providing informaton on how people, businesses and governments behave.However, business economics is a field in applied economics which uses econoic theory and quantitative methods to analyze business. Business economics focused on the economic issues and problems related to business organizations. Business economics also covers most of the problems that a manager or an establishment faces for example, price theory, on the other hand, helps the firm in understanding how prices are determined under different consumer emotion or external economic environment etc. factors. Moreover, business economics and quantitative methods also applies economic theory to the study of organizations. for example, the principal-ahent problem has become a standard factor in political science and economics, basic economic theory explains how and why that when demand exceeds supply, producers tend to raise price, or public choice theory how and why affect economic output, due to global economic outlook is significant trade uncertainty.So, economists explore how individuals and businesses can help secure a healthy environment, when they attempt to find the most right economic theories to help businesses to solve their business problems. In general, it makes use of statistical and analytical tools to assess economic theories in solving practical business problems. For example, rapid devaluation solutions can be applied to solve economic crisis, fiscal occurrence in the 1930 s. It helps to stimulate demand and creates jobs to solve social unemplyment challenge in 1930s. This will provide some relief to businesses and tax cut increases disposable income in 1930s global economic fiscal crisis occurrence. For anther exmaple, the gig economy is enabled by technology, such as robotic productive tool invention, it can help factories to raise efficiency to manufacture as well as reduces labors number. So, effective economic theory may help managers to solve any organizational problems easily.⦁How new economic development in oil industry The future global economic growth, it will influence personal incomes and GDP rise. They would carry different weight in different countries at different times. Starting from low levels of incomer and economic development. Household consumption will change from being dominated by basic heat to rapidly rising energy use for higher levels of comfort in space heating and cooling ( and large dwellings), and greater use of electrical appliances, finally to a degree of saturation influenced by the income distribution patterns of the country concerned. Income distribution typically changes very slowly, so that the technical market for heart will never be saturated because there will always be a proportion of poor people living in small spaces less comfortably than the average. Industrial energy consumption will be influenced by technical efficiency within each sector, and by changes in the structures of the economy, e.g. changing proportions of agriculture, heavy and light industry, and services.
