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Self-cultivation is the cultivation, integration, and coordination of mind and body. Although self-cultivation may be practiced and implemented as a form of cognitive therapy in psychotherapy, it goes beyond healing and self-help to also encompass self-development, self-improvement and self realisation.
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.. Human economic systems undergo a number of deviations and departures from the "normal" state, trend or development.
[6] [7] Economic development can also be considered as a static theory that documents the state of an economy at a certain place. According to Schumpeter and Backhaus (2003), the changes in this equilibrium state documented in economic theory can only be caused by intervening factors coming from the outside. [8]
Each and every man is capable of learning and self-cultivation regardless of social, economic or political status. This, in turn, means that success in learning is the result of the effort of the individual as opposed to an inability to learn. One must treat education as an intricate and interrelated system where one must strive for balance.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Economic transformation can be measured through production/value-added measures and trade-based measures. Production-based measures include: (1) sector value added and employment data, to show productivity gaps between sectors; and (2) firm-level productivity measures, to examine average productivity levels of firms within one sector. [4]
An economic system consisting of self-managed enterprises is sometimes referred to as a participatory economy, self-managed economy, or cooperative economy. This economic model is a major version of market socialism and decentralized planned economy , stemming from the notion that people should be able to participate in making the decisions ...
Developmentalism in the international economic context can be understood as consisting of a set of ideas which converge to place economic development at the center of political endeavors and institutions and also as a means through which to establish legitimacy in the political sphere.