What is the ‘cost disease’ identified by William Baumol and why is it important to understanding cultural economics?
Baumol cost disease tells us the effect of rise in salaries of those industries whose workers have experienced no productivity growth due to rise in salaries of those workers who have hike in productivity growth from any reason. If employees in Wholesale sector where salaries are low applies for a job for automobile sector where salaries are high, then it will raise the salary of wholesale employees. Thus this hike in salary is not due to productivity growth but due to salaries hike in other sector.
Cultural economics is the connection of people culture which is in the form of beliefs and preferences on economic outcomes and market behavior. It helps in identifying he reason for rising demand and supply of particular product. Example: Brown Coconut in India is used majorly for temple purposes, its increased sales can tells us the duration of festival season.
What is the ‘cost disease’ identified by William Baumol and why is it important to understanding...
What is the ‘cost disease’ identified by William Baumol and why is it important to understanding cultural economics?
Why is the study and understanding of cultural variances so vitally important to marketers? What are some culture behaviors that marketers try to exploit today.
Why is understanding sport economics important for someone working in sport finance
What is the industry that William Hartung sees as being instrumental in understanding war? Would his analysis fit properly within class system theory? Why or why not?
Why are settlement patterns important to our understanding of the development of social systems? To answer this question, please: [A] Describe what a settlement pattern is; [B] Discuss how settlement patterns are identified in the archaeological record; [C] suggest how different settlement patterns might be interpreted.
what is the price elasticity of demand? why is understanding the elasticity of demand important for health care managers?
Hofstede's cultural dimensions are important to cross-cultural understanding in the training arena. Define TWO of Hofstede's cultural dimensions and discuss how they are relevant to training and development. Provide an example of a training method that would be effective for a particular culture and explain why you believe that method would be effective, based on Hofstede's dimensions.
why are each of the following important recommendations for refugees and immigrants in the healthcare industries (explain each individually). Understanding the importance of cultural influences on patients health beliefs and behaviors. Using multi disciplinary teams and interpreters. Lower cost and grants to medical services.
what is your understanding of culture change and why do you think it is important in long-term care organizations? Also, think about some barriers to successful culture change in an organization
what is your understanding of culture change and why do you think it is important in long-term care organizations? Also, think about some barriers to successful culture change in an organization.