Search results
Results from the WOW.Com Content Network
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
A guest worker program allows foreign workers to temporarily reside and work in a host country until a next round of workers is readily available to switch. Guest workers typically perform low or semi-skilled agricultural, industrial, or domestic labor in countries with workforce shortages, and they return home once their contract has expired.
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 ...
A guest worker from Cuba, working in an East German factory (Chemiefaserkombinat "Wilhelm Pieck"), 1986. After the division of Germany into East and West in 1949, East Germany faced an acute labour shortage, mainly because of East Germans fleeing into the western zones occupied by the Allies; [35] in 1966 the GDR (German Democratic Republic) signed its first guest worker contract with Poland. [36]
The hotel industry in Vietnam is an important economic sector, contributing significantly to the country's GDP. [ 15 ] [ 16 ] [ 17 ] According to statistics from the Vietnam National Administration of Tourism , in 2022, Vietnam had a total of 32,313 accommodation establishments [ 18 ] [ 19 ] with 611,352 rooms, including 1,576 hotels with three ...
The experience economy can be quantified as the economic value of an experience, which is a psychological process people can go through. The experience economy is often consumed as product or service, or as pure experience product such as sports, and online dating .
The new rules will require host registration, data sharing by the company and quality control of listings. Airbnb hailed the regulations as a “watershed moment” for the industry and praised ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...