Saturday, August 1, 2009

SHORT NOTES

  • Measurement of HDI for life expectancy:

HDI (le)= Real age - Minimum age
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Maximum age- Minimum age Max age=85, Minimum age=25

  • Medical Tourism: By providing modern and skilled solutions and facilities at cheap rate and higher care for health problems India is trying to attract patients for better treatment.This is known as medical tourism.
  • Copy left:It is a group of licenses.Applied to software, art or other copyright works.Enables person to use,modify or redistribute any copy of works.
  • RCI:Rehabilitation Council of India.It arranges for the rehabilitation of the people displaced after various development projects.It was et up as a registered society in 1986.
  • Contagion is the cross-border spread of financial shocks. Such international spillover means that economic or financial troubles that originate in one nation can affect others.
  • Absolute advantage refers to the ability of an economic unit (a country, for example) to produce more of any given goods at a lower cost of production than another economic unit. It is a relative term and is calculated through comparisons with other economic units.Absolute advantage is used to compare the productive efficiencies between different countries.

  • Amortization can be referred as a process of paying off of certain amount of debt in regular installments over a certain period of time. Amortization in business is referred to a process of decreasing capital expenses over a definite period of time. This type of deduction is usually accounted over the property life. To be more specific, this method of accounting is used to compute expenditure of the value of intangible assets, like a patent or a copyright.
  • Kleptocracy is when a government increases wealth and political power of bureaucrats and ruling class at common people's cost. Kleptocracy can also be named as cleptocracy or kleptarchy.Kleptocracy arises in such cases where a government is inefficient and not working properly for welfare of people. Kleptocracy can be also referred as a kind of despotism or some other form of domineering and favoritism that prevails in any government rule.

  • Crony literally means a longtime friend. Crony capitalism refers to a capitalist market structure, where business men and ruling government share a close relationship. Businessmen form lobbies to extract favoritism from ruling party. Favoritism accrues in form of government grants, tax breaks and various financial incentives. It is argued that political parties and business enterprises form a kind a symbiotic relationship to stay in power via creation of networks. Both parties reap positive gains from cooperation.

  • A duopoly is a market condition in which two companies producing a similar type of product have control over the market. This is similar to monopolies in which only one company controls the market and oligopolies in which multiple companies are allowed to trade in the market. The most popular example of duopoly is between Visa and Mastercard who exercise a major control over the electronic payment processing market in the world. Pepsi and Coca-cola are the two major shareholders in the soft drinks market. Airbus and Boeing are duopolies in the commercial jet aircraft market.
  • Future value, often expressed as FV is a financial term, which describes how much a given amount of money will be worth after interest has accrued.Future value is referred to as the expected value of present sum of money in future. Future value is a measurement that tells the amount of money that can be received for any present investment in future. Future value of any investment depends mainly on two things the number of compounding periods and interest rates.

  • D-Mark or Deutsche Mark (DM) was Germany's official currency until euro became currency of choice in 1999.D-Mark was replaced by euro in circulation from that year. However,Deutsche Mark was accepted as legal payment of purchases made inside Germany until February 28, 2002.
  • BANANA is an acronym for Build Absolutely Nothing Anywhere Near Anything (or Anyone). The term is most often used to criticize the ongoing opposition of certain interest groups to land development.The term is commonly used within the context of planning in the United Kingdom.

  • Stealth Tax is a term used for a tax levied in such a way that is largely unnoticed, or not recognized as a tax.Ex:Use of National Lottery by the British Government.Inflation is regarded as a form of stealth tax.
  • Politburo, from German Politb├╝ro, short for Political Bureau, is the executive committee for a number of communist political parties.
  • Pigskin politics is a political epithet used to describe or dismiss a person's pavlovian attachment to a political persuasion or party, given that party's/persuasion's past influence within the person's region. The term is usually used within the context of a person's attachment to a region or state whereby the person holds a specific set of beliefs and ideas as a result of having lived there.

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