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Economics. International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different ...
v. t. e. In international relations (IR), constructivism is a social theory that asserts that significant aspects of international relations are shaped by ideational factors. [1] [2] [3] The most important ideational factors are those that are collectively held; these collectively held beliefs construct the interests and identities of actors.
Rational choice theory refers to a set of guidelines that help understand economic and social behaviour. [1] The theory originated in the eighteenth century and can be traced back to the political economist and philosopher Adam Smith. [2] The theory postulates that an individual will perform a cost–benefit analysis to determine whether an ...
Property rights are constructs in economics for determining how a resource or economic good is used and owned, [1] which have developed over ancient and modern history, from Abrahamic law to Article 17 of the Universal Declaration of Human Rights. Resources can be owned by (and hence be the property of) individuals, associations, collectives ...
There are two fundamental theorems of welfare economics. The first states that in economic equilibrium, a set of complete markets, with complete information, and in perfect competition, will be Pareto optimal (in the sense that no further exchange would make one person better off without making another worse off).
National human resource development ( NHRD also known as National human resource development) is the planned and coordinated process of enhancing human resources in one or more political states or geographic regions for economic and/or social purposes. [1] NHRD has been recognized as a policy priority and undertaken as an activity by various ...
Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [2] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...
Economics. Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources management". [1] It is an area of applied micro labor economics, but there are a few key distinctions.
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