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1 economic theory of the firm
Gen Mgtthe theory that states that the only duty that a company has to those external to it is financial. The economic theory of the firm holds that shareholders should be the prime beneficiaries of an organization’s activities. The theory is associated with top-down leadership, and cost-cutting through rationalization and downsizing. With immediate share price dominating management activities, economic theory has been criticized as being too short-term, as opposed to the longer-term thinking behind stakeholder theory.The ultimate business dictionary > economic theory of the firm
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2 The Regeneration
(1851-71)An era of relative economic progress and political stability during the third quarter of the 19th century. The Regeneration followed a period of intense political instability and uncertainty (1807-51), with invasions, wars, and civil wars, and represented the inception of modern economic and industrial development in Portugal. In terms of administrative continuity and governmental stability and accomplishment, the Regeneration was the most hopeful era of the constitutional monarchy (1834-1910). It began in 1851, with a military revolt led by the Duke of Saldanha, one of the conquerors and victors of the Patuleia revolt and civil war (1846-47) and was supported by various groups and factions that desired civic peace, order, and economic improvement.Of the Regeneration leaders, Fontes Pereira de Melo became the major personality and mastermind of this era, which witnessed the beginnings of Portugal's main railroad and road system, as well as the initiation of modern industrial and commercial activities. The Regeneration affected the economies of the Lisbon and Oporto regions more than the provinces, but the rural areas also benefited from the changes that came from the new economic activities. -
3 economic
[iːkəˈnɔmɪk] adjective1) of or concerned with (an) economy:إقْتِصاديthe country's economic future.
2) likely to bring a profit:إقْتِصادي، مُرْبِحan economic rent.
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4 economic assumption
Econan assumption built into an economic model, for example, that output will grow at 2.5% in the next tax year -
5 Economic Planning and Advisory Council
Fina committee of business people and politicians appointed to advise the Australian government on economic issues.Abbr. EPACThe ultimate business dictionary > Economic Planning and Advisory Council
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6 economic value added
Fina way of judging financial performance by measuring the amount by which the earnings of a project, an operation, or a corporation exceed or fall short of the total amount of capital that was originally invested by its owners.EXAMPLEEVA is conceptually simple: from net operating profit, subtract an appropriate charge for the opportunity cost of all capital invested in an enterprise—the amount that could have been invested elsewhere. It is calculated using this formula:Net operating profit less applicable taxes – Cost of capital = EVAIf a company is considering building a new plant, and its total weighted cost over ten years is $80 million, while the expected annual incremental return on the new operation is $10 million, or $100 million over ten years, then the plant’s EVA would be positive, in this case $20 million:$100 million – $80 million = $20 millionAn alternative but more complex formula for EVA is:(% Return on invested capital – % Cost of capital) × original capital invested = EVAAn objective of EVA is to determine which business units best utilize their assets to generate returns and maximize shareholder value; it can be used to assess a company, a business unit, a single plant, office, or even an assembly line. This same technique is equally helpful in evaluating new business opportunities.Abbr. EVA -
7 economic order quantity
Opsa reorder method that attempts to estimate the best order quantity by balancing the conflicting costs of holding stock and of placing replenishment orders. For large orders, the unit cost may be lower, but storage costs will be higher, because the average storage time will increase. For small orders, the cost of order processing and unit cost may be higher, but storage costs will be lower, because the average storage time is less.Abbr. EOQ -
8 economic out
Oil: eco-out (provision in gas purchase contracts that permits the purchaser to rescind contracts involving deregulated natural gas if prices of competitive fuels drop to the extent that distributors cannot compete in selling the gas) -
9 the European Union
( formerly the Common Market the European Community) nounan economic and political association of certain countries in Europe.أوروبي -
10 economic growth
Econan increase in the national income of a country created by the long-term productive potential of its economy -
11 economic surplus
Econthe difference between an economy’s output and the costs incurred, for example, wages, raw material costs, and depreciation -
12 Economic and Social Committee
1) Veterinary medicine: ECOSOC (of the European Union)2) Abbreviation: ESCУниверсальный русско-английский словарь > Economic and Social Committee
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13 economic goods
Econservices or physical objects that can command a price in the market -
14 economic life
Econthe conditions of trade and manufacture in a country that contribute to its prosperity or poverty -
15 economic miracle
Econthe rapid growth after 1945 in countries such as Germany and Japan, where in ten years economies shattered by World War II were regenerated -
16 economic welfare
Econthe level of prosperity in an economy, as measured by employment and wage levels -
17 Economic Commission for Africa and the Far East
Abbreviation: ECAFEУниверсальный русско-английский словарь > Economic Commission for Africa and the Far East
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18 Economic Commission for Asia and the Far East
Ecology: ECAFEУниверсальный русско-английский словарь > Economic Commission for Asia and the Far East
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19 Economic Commission for the Middle East
Abbreviation: ECMEУниверсальный русско-английский словарь > Economic Commission for the Middle East
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20 Economic Coordination Centre for the Asian and Pacific Regions
Foreign Ministry: ACOCENУниверсальный русско-английский словарь > Economic Coordination Centre for the Asian and Pacific Regions
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