The supply of land
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Land is a naturally occurring resource that differs from capital and labor in that its overall supply cannot be increased to meet demand. While the total supply of land is fixed, the supply available for a specific use or industry is not, as land use can shift between agricultural, recreational, and residential depending on who offers the highest price. As the price paid for land increases, more land will be supplied for that particular use, resulting in an upward-sloping and elastic supply curve for land available to individual markets.
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The Land Acquisition Act 1960 allows the government to acquire private land for public purposes, such as infrastructure and development projects. Compensation is required to be provided to the land owner. Compensation amounts are determined based on the market value of the land and may also include amounts for issues like severance of remaining land, loss of business, relocation costs, and any increase or decrease in land values due to the purpose of acquisition. The Act aims to ensure land owners are financially compensated to the same level as if their land had not been acquired, following principles of fairness and adequate compensation under the Malaysian Constitution.
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2) 'C' - RM50,000
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2) The powers of the state authority regarding the disposal and use of state land.
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Land use planning is the process of organizing, managing and regulating land and resource use to meet socio-economic needs efficiently and sustainably. Zoning is a tool that controls land use through designations like residential, commercial, industrial, agricultural and institutional. These designations regulate development form, design, use and compatibility as a basic framework for future growth and as a control mechanism to ensure development aligns with plans.
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Order of priority:
1) 'B' - RM150,000 (original loan + further advance)
2) 'C' - RM50,000
So 'B' gets RM150,000 and 'C' gets the remaining RM10,000
The right to tack allows the 1st chargee ('B') to rank the further advance ahead of the 2nd chargee ('C'), even though the 2nd charge was created before the further advance under the 1st charge.
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The document discusses security dealings under Malaysian law. It defines a security dealing as a transaction created to secure the repayment of a loan, with elements of a loan and security over real property. Land is commonly used as security due to its permanence and value. If the borrower defaults, the lender can recover the money by selling the land. The National Land Code 1965 recognizes charges and liens as security dealings. For a charge to be valid, it must satisfy requirements such as using the prescribed statutory form, registration, and securing repayment of a debt. Unregistered charges may still be enforced through equitable or statutory remedies.
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This document is the National Land Code of Malaysia which governs land administration and management. It contains several parts and chapters that cover topics such as:
1) The administration of land matters by federal and state authorities.
2) The powers of the state authority regarding the disposal and use of state land.
3) The procedures for disposing of land, including reservation, temporary occupation, extraction of materials, and alienation (transfer of ownership).
4) The incidents and registration of titles for alienated (transferred) land, including rent, conditions, restrictions, forfeiture, sub-division and amalgamation.
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Economists have tried to explain how income is distributed by looking at both the size and functional distribution of income. The functional distribution divides national income according to the main sources of income - rents, profits/interest, and wages. It focuses on three social classes. However, by the late 19th century the lines between classes were blurring. The size distribution instead looks at inequality between individual income earners regardless of source, and can include those with multiple sources of income across different classes.
Costs of production
This document defines and provides examples of different types of costs including fixed costs, variable costs, total costs, average costs, and marginal costs. Fixed costs remain constant regardless of production quantity, such as rent. Variable costs change with output level, like packaging. Total cost is the sum of fixed and variable costs. Average costs are calculated by dividing total costs by units of output. Marginal cost represents the change in total cost from producing one additional unit.
Sub-Accounts of the Balance of Payments
The document discusses the balance of payments of a country. It is a record of all economic transactions between a country and the rest of the world, including payments made (outflows) and received (inflows). The balance of payments has two main accounts - the current account, which records trade in goods and services, income, and transfers; and the capital account, which covers capital flows from private and government sources like foreign direct investment. When the current and capital accounts are not balanced, it affects a country's official foreign reserves.
Demand for money
This document discusses the three motives that drive individuals' demand for money: transactionary, precautionary, and speculative. Transactionary demand refers to money held for regular purchases and bills that are paid periodically but not simultaneously to when individuals are paid. Precautionary demand is money held for unforeseen life events. Speculative demand arises from hoping to profit from changes in bond prices, with higher interest rates reducing speculative money holding as bonds become more attractive. Overall, demand for money results from the combination of needs for transactions, precautions, and speculation.
Land as a factor of production
An outline of land including its definition, characteristics, types (or uses), importance and productivity.
Characteristics of market structures
Market structure refers to the characteristics that determine how firms in an industry behave, including the number of firms, type of product, control over price, and freedom of entry and exit. The number of firms ranges from many to few or one. Products can be standardized or differentiated in physical or perceived ways. Firms have varying levels of control over price depending on competition. Barriers to entry like licenses or high costs can impact the freedom firms have to enter or exit an industry.
Quality of life
The document defines quality of life according to the World Health Organization as an individual's perception of their position in life based on their culture, goals, and health. It is affected by physical and mental health, independence, social relationships, beliefs, and environment. The document then lists six key indicators that were identified with over 83% accuracy: 1) extent of security, 2) availability of health, education, and recreation facilities, 3) diet and nutrition, 4) life expectancy, 5) infant mortality rate, and 6) access to public utilities and technology. Examples are provided for each indicator explaining how it impacts an individual's quality of life.
Terms of sale
This document outlines several common terms of sale: cash payments involve immediate payment with various methods and are common for small purchases, while credit allows purchasing high-priced items by paying an additional interest charge over time. Hire purchase is similar to credit but the supplier retains ownership until full payment. Layaway allows reserving an item by making deposits until it's paid off without interest, and consignment involves a dealer selling goods for the supplier and only paying for what they sell.
Functions of retailing
Retailers provide outlets for manufacturers' products, hold stocks of goods to meet consumer demand, and make goods available to consumers in preferred quantities. They are located conveniently for consumers and provide advice, after-sales services, and feedback from consumers to manufacturers.
Characteristics of a successful entrepreneur
Successful entrepreneurs exhibit creativity by developing new ideas and concepts to solve problems or discover niche markets. They are also innovative in converting new ideas into successful products or services. Entrepreneurs must be flexible and multi-skilled to carry out various tasks across different business areas like human resources, accounting, and promotion. They are also goal-oriented in setting clear targets for themselves and employees to achieve the business aims. Entrepreneurs persevere through challenges by continuing their efforts in the face of adversity and rethinking ideas when businesses seem to be failing. They also take calculated risks by pursuing ventures only if costs and benefits analysis show potential for profit.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.1. Elemental Economics - Introduction to mining.pdf
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Ending stagnation: How to boost prosperity across Scotland
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What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
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The supply of land
- 1. The Supply of Land Prepared by Sandrea Butcher
- 2. Recall that land refers to all naturally occurring gifts of nature.
- 3. Land unlike labour and capital, tends to be fixed since more of it cannot be produced if the demand for it increases.
- 4. The supply of land to the entire economy will be perfectly inelastic S Supply of land Rent Quantity of land
- 5. The land available to a particular industry or use is not fixed. Land use can shift from: Agricultural Recreational Residential
- 6. If land is currently in agricultural use and the owner is offered more money from a residential developer, with the right planning permission, its use will change.
- 7. As the price paid increases, a greater quantity will be supplied to the user with the higher bid. The supply curve of land for a particular use will be upward sloping and elastic. S Rent Quantity of land