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Profit Motive
In economics, the profit motive is the motivation of firms that operate so as to maximize their profits. Mainstream microeconomic theory posits that the ultimate goal of a business is "to make money" - not in the sense of increasing the firm's stock of means of payment (which is usually kept to a necessary minimum because means of payment incur costs, i.e. interest or foregone yields), but in the sense of "increasing net worth". Stated differently, the reason for a business's existence is to turn a profit. The profit motive is a key tenet of rational choice theory, or the theory that economic agents tend to pursue what is in their own best interests. In accordance with this doctrine, businesses seek to benefit themselves and/or their shareholders by maximizing profits. As it extends beyond economics into ideology, the profit motive has been a major matter of contention. Economics Theoretically, when an economy is fully competitive (i.e. has no market imperfections like ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit (economics)
In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. It is equal to total revenue minus total cost, including both Explicit cost, explicit and implicit cost, implicit costs. It is different from accounting profit, which only relates to the explicit costs that appear on a firm's financial statements. An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs. An Economists, economist includes all costs, both explicit and implicit costs, when analyzing a firm. Therefore, economic profit is smaller than accounting profit. ''Normal profit'' is often viewed in conjunction with economic profit. Normal profits in business refer to a situation where a company generates revenue that is equal to the total costs incurred in its operation, thus allowing it to remain operational in a competitive industry. It is the mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Chain
A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of Value (economics), value to an end customer. The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, ''Competitive Advantage: Creating and Sustaining Superior Performance''. According to the OECD Secretary-General , the emergence of global value chains (GVCs) in the late 1990s provided a catalyst for accelerated change in the landscape of international investment and trade, with major, far-reaching consequences on governments as well as enterprises . Role of the business unit According to Porter, the appropriate level for constructing a value chain is the business unit within a business,Michael E. Porter (1985) Competitive advantage: creating and sustaining superior performance. The Free Press not a division (business), business division or the company as a whole. Porter is concerned that analy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laudato Si'
''Laudato si'' (''Praise Be to You'') is the second encyclical of Pope Francis, subtitled "on care for our common home". In it, the Pope criticizes consumerism and irresponsible economic development, laments environmental degradation and global warming, and calls all people of the world to take "swift and unified global action". * * * * The encyclical, dated 24 May 2015, was officially published at noon on 18 June 2015, accompanied by a news conference. The Vatican released the document in Italian, German, English, Spanish, French, Polish, Portuguese and Arabic, alongside the original Latin. The encyclical is the second published by Pope Francis, after '' Lumen fidei'' (''The Light of Faith''), which was released in 2013. Since ''Lumen fidei'' was largely the work of Francis's predecessor Benedict XVI, ''Laudato si'' is generally viewed as the first encyclical that is entirely the work of Francis. Structure The document is organised as follows: * Introduction (sect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Encyclical Letter
An encyclical was originally a circular letter sent to all the churches of a particular area in the ancient Roman Church. At that time, the word could be used for a letter sent out by any bishop. The word comes from the Late Latin (originally from the Latin , a Latinization of Greek (), meaning "circular", "in a circle", or "all-round", also part of the origin of the word encyclopedia). The term is now primarily associated with papal encyclicals. The term has been used by Catholics, Anglicans and the Eastern Orthodox Church. Catholic usage Although the term "encyclical" originally simply meant a circulating letter, it acquired a more specific meaning within the context of the Catholic Church. In 1740, Pope Benedict XIV wrote a letter titled ''Ubi primum'', which is generally regarded as the first encyclical. The term is now used almost exclusively for a kind of letter sent out by the pope. For the modern Catholic Church, a papal encyclical is a specific category of papal docu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pope Francis
Pope Francis (born Jorge Mario Bergoglio; 17 December 1936 – 21 April 2025) was head of the Catholic Church and sovereign of the Vatican City State from 13 March 2013 until Death and funeral of Pope Francis, his death in 2025. He was the first Jesuit pope, the first Latin American, and the first born or raised outside Europe since the 8th-century Syrian pope Pope Gregory III, Gregory III. Born in Buenos Aires, Argentina, to a family of Italian Argentines, Italian origin, Bergoglio was inspired to join the Jesuits in 1958 after recovering from a severe illness. He was Ordination#Catholic, Orthodox, Lutheran and Anglican churches, ordained a Catholic priest in 1969, and from 1973 to 1979 he was the Jesuit provincial superior in Argentina. He became the archbishop of Buenos Aires in 1998 and was created a Cardinal (Catholic Church), cardinal in 2001 by Pope John Paul II. Following resignation of Pope Benedict XVI, the resignation of Pope Benedict XVI, the 2013 pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pontifical Council For Justice And Peace
The Pontifical Council for Justice and Peace (''Justitia et Pax'') was a pontifical council of the Roman Curia dedicated to "action-oriented studies" for the international promotion of justice, peace, and human rights from the perspective of the Roman Catholic Church. To this end, it cooperated with various religious institutes and advocacy groups, as well as scholarly, ecumenical, and international organizations. Effective 1 January 2017, the work of the Council was assumed by the Dicastery for Promoting Integral Human Development and Cardinal Peter Turkson became Prefect of the Dicastery. Origin The Second Vatican Council had proposed the creation of a body of the universal Church whose role would be "to stimulate the Catholic Community to foster progress in needy regions and social justice on the international scene". It was in reply to this request that Pope Paul VI established the Pontifical Commission "Justitia et Pax" by a Motu Proprio dated 6 January 1967 (''Catholica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Forces
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the value of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can differ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compendium Of The Social Doctrine Of The Church
The ''Compendium of the Social Doctrine of the Church'' is a document issued by the Pontifical Council for Justice and Peace in 2004 to offer "a complete overview of the fundamental framework of the doctrinal corpus of Catholic social teaching". The work was created at the request of Pope John Paul II to consolidate and organize Church social doctrine. The work reads that: The Church... intends with this document on her social doctrine to propose to all men and women a humanism that is up to the standards of God's plan of love in history, an integral and solidary humanism capable of creating a new social, economic and political order, founded on the dignity and freedom of every human person, to be brought about in peace, justice and solidarity. The compendium's audience includes bishops, priests, men and women religious (e.g., nuns, deacons), catechists, lay faithful, and all people of good will committed to the common good. Catholic social doctrine is Magisterium, which obligate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catholic Church
The Catholic Church (), also known as the Roman Catholic Church, is the List of Christian denominations by number of members, largest Christian church, with 1.27 to 1.41 billion baptized Catholics Catholic Church by country, worldwide as of 2025. It is among the world's oldest and largest international institutions and has played a prominent role in the history and development of Western civilization.Gerald O'Collins, O'Collins, p. v (preface). The church consists of 24 Catholic particular churches and liturgical rites#Churches, ''sui iuris'' (autonomous) churches, including the Latin Church and 23 Eastern Catholic Churches, which comprise almost 3,500 dioceses and Eparchy, eparchies List of Catholic dioceses (structured view), around the world, each overseen by one or more Bishops in the Catholic Church, bishops. The pope, who is the bishop of Rome, is the Papal supremacy, chief pastor of the church. The core beliefs of Catholicism are found in the Nicene Creed. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Insurance
Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among many individuals. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization, such as a government agency, private business, or not-for-profit entity. According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment". A health insurance policy i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Healthcare Industry
The healthcare industry (also called the medical industry or health economy) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. It encompasses the creation and commercialization of products and services conducive to the preservation and restoration of well-being. The contemporary healthcare sector comprises three fundamental facets, namely services, products, and finance. It can be further subdivided into numerous sectors and categories and relies on interdisciplinary teams of highly skilled professionals and paraprofessionals to address the healthcare requirements of both individuals and communities.HEALTH PROFESSIONS [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sicko
''Sicko'' is a 2007 American political documentary film by filmmaker Michael Moore. Investigating health care in the United States, the film focuses on the country's health insurance and the pharmaceutical industry. Moore compares the for-profit non-universal U.S. system with the non-profit universal health care systems of Canada, the United Kingdom, France and Cuba. Produced on a roughly $9 million budget, ''Sicko'' grossed $25 million theatrically in North America. This exceeded the official expectation of The Weinstein Company, which had hoped to be in line with '' Bowling for Columbine''s $22 million U.S. box office gross. Synopsis ''Sicko'' begins by noting that almost 50 million Americans were uninsured in 2007 while the remainder, who are covered, are often victims of insurance company fraud and red tape. ''Sicko'' mentions that the World Health Organization ranks U.S. health in general as 37 out of 191 countries and ranks some U.S. health measures, such as infant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
