Research Motivational

Research Motivational

Research, Motivational. See Market Research. Research, Operational. See Operational Research.

Reserves, earnings earmarked by a company or country for specified -or general purposes. Most firms set aside in this way part of their profits each year before paying a dividend. Reserves may be formed for defined purposes such as extending productive capacity and research programmes, or simply as a general protection against the effects of unexpected losses. Company reserves are rarely kept in the form of cash but are invested either in the business itself or outside the firm, usually in interest-bearing securities. Finance houses, insurance companies and particularly banks, however, have to keep a part of their reserves in cash to meet the day-to-day requirements of their clients.

A country's reserves consist of a balance of gold and foreign currencies used for international trade. If the amount of foreign currency earned by a country's voluntary sales of merchandise, services or capital assets abroad is temporarily less than its currency liabilities for merchandise, services and capital assets bought from other countries, the deficit can be met by running down its reserves, which thus act as a buffer stock in preventing undesirable temporary fluctuations in either trade or foreign exchange rates.

The 'crises' in Britain's balance of payments since World War II have been intensified by her meagre reserves. Before the war she held reserves sufficient to pay for eight or nine months' imports; since World War U her reserves have been less than three or four months' value of imports. The U.S.A., Germany and other countries have held much larger reserves in proportion to their external trade.

Resources, human capacities, animal properties and material objects (land, its flora and fauna, water and other substances) that are scarce relatively to the demand for them and are used, often jointly, to produce goods and services. Thus land, grass, a cow, a farmer and his equipment together produce milk. All resources are scarce in the sense that there is not enough of them to produce all the goods and services required to satisfy every human want (even fresh air is scarce in deep mines). The limits to resources are set by nature and knowledge. Resources can be used in varying combinations to yield varying combinations of goods and services. The principles or 'laws' that govern the ways in which man chooses between alternatives form the essential subject-matter of economics.

Interested in Economic - Economic Anthropology

Since then his writings have in turn been increasingly reinterpreted as a special case both by some followers and by some economists who had not wholly accepted his writings. The content of economics is in a state of change, and this site is therefore not a final statement of economic doctrine.

Economics is in the last resort a technique of thinking. The reader will therefore need to make an intellectual effort, more substantial for some web entries than for others, to get the most interest and value out of this website.