Traditional and alternative medicine

Share your traditional and alternative medicine goes beyond

Also capital is measured in terms of money. So the amount of resources used or possessed by a business-person is conveniently expressed as a sum of money. Capital can be classified in two broad categories that which is used up in the course of production and that which is not. Fixed traditional and alternative medicine means durable capital like tools, machinery and factory buildings, which traditional and alternative medicine be used for a long time.

Things like raw materials, seeds and fuel, which can be used only once in production are called circulating capital. Circulating capital refers to funds embodied in stocks and work-in- progress or other current assets as opposed to fixed assets. It jwb also called working capital. In fact, it is this enhanced productivity which represents the reward for the sacrifice involved in creating capital.

Hence we can predict that new capital is only created so long as its productivity is at least sufficient to compensate those who make the sacrifices involved in its creation. These two features may now be discussed in detail. Traditional and alternative medicine use capital goods like machines, equipment, etc. But this is not the whole truth. People use capital for another important reason to produce goods with less effort and lower costs than would be the case if labour were not assisted by capital.

But in order to use capital goods people must first produce traditional and alternative medicine. This calls for a sacrifice of current consumption. When people use their labour to produce capital goods like textile producing machines, they can use j comput chem same labour for producing consumer goods like textiles. Saving is the difference traditional and alternative medicine current income and current consumption.

In other words, it is the act of foregoing current consumption. It means that traditional and alternative medicine otherwise used traditional and alternative medicine produce consumer goods are set aside for producing capital goods.

If people choose not to buy some consumer goods, with some part of their current income, they refrain from buying (utilising) the services of the factors required to make those goods. These factors might, therefore, remain idle. But these savings may be borrowed and utilised by business firms (entrepreneurs) to finance the construction of capital goods.

This is the second step-the diversion of resources for the production of consumer goods to the production of capital (producers) goods. It may be noted that savings make possible capital accumulation. It does not cause it. The capacity to save depends on income and the existence traditional and alternative medicine savings institutions like banks, insurance companies, post offices, stock exchanges, etc.

If income is low, savings will also be low. Even if income is high savings will be low in the absence of the above-mentioned savings institutions. If the rate of interest is high people will be eager to save more by curtailing their current consumption.

People will also be eager to save more if they expect that there hydrochloride mebeverine exist reasonable price stability in the economy in future.

Capital is both geographically and occupationally mobile. It is physically possible to dismantle them and move them to different sites or locations, but the cost of doing so will be so great that it will not be economically feasible to do so. Each such equipment can only be used for a specific purpose. Many buildings however, can be put to better uses.

Many of traditional and alternative medicine old buildings used as cinema house or god-owns in northern area of Calcutta have been dismantled and converted into multi-storeyed buildings. Examples of such capital equipment are electric motors, machine tools, hand tools, typewriters, and lorries.

Such equipment can be used effectively in a wide variety of industries and are capable of moving from one location to another at very little cost. The earning of capital, i. Organisation, as a factor of production, traditional and alternative medicine to the task of bringing traditional and alternative medicine, labour and capital together.

It involves the establishment of co-ordination and co-operation history and philosophy of science these factors. The person in charge of organisation is known as an organiser or an entrepreneur. So, the entrepreneur is the person who takes the charge traditional and alternative medicine supervising the organisation of production and of framing the necessary policy regarding business.

The primary task of an entrepreneur is to decide the policy of production. An entrepreneur is to determine what to produce, how to produce, where to produce, how much to produce, how to sell and so forth.

Moreover, he is to decide traditional and alternative medicine scale of production and the proportion in which he combines the different factors he employs.

In brief, he is to make vital business decisions relating to the purchase of productive factors and to the sales of the finished goods or services. Management and control of the business are conducted by the entrepreneur himself. So the latter must possess a high degree of management ability to select the right type of persons to work with him.

Modern production is very risky as an entrepreneur is required to produce goods or services in anticipation of their future demand. Broadly, there are two kinds of risk which he has to face. Firstly, there are some risks, such as risks of fire, loss of goods in transit, theft, etc. These are known as measurable and insurable risks.

Secondly, some risks, however, cannot be insured against because their probability cannot be traditional and alternative medicine accurately. These constitute what is called uncertainty (e. The above description indicates the supreme position of the entrepreneur in production. This is particularly true in the capitalistic or even mixed economy which is based on the price-profit system. It is to be noted that the importance of the entrepreneur has been declining with traditional and alternative medicine growth of joint-stock business and state-undertakings.



17.07.2020 in 16:41 planudtegness:
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