Articles in English

An employment tribunal is a legal forum for resolving disputes between employees and employers. It is an independent and impartial body that is responsible for hearing and deciding on claims made by employees against their employers. The tribunal system was established in the UK to provide a cost-effective and efficient means of resolving employment disputes without the need for expensive and time-consuming court proceedings.

Economies of scale refer to the reduction in average unit costs that results from increased production of a product. This phenomenon occurs when a firm produces a larger quantity of a good or service, and as a result, the cost per unit decreases. Economies of scale can be achieved in a number of ways, including through the optimization of production processes, the spread of fixed costs over a larger volume of output, and the development of specialized production facilities.

Colin Clark's sector model is a tool used in economics to analyze the structure of an economy and its different components. The model divides an economy into three distinct sectors: primary, secondary, and tertiary. Each sector plays a unique role in the economy and contributes to its overall functioning and development.

Big business refers to the activities of large corporations and multinational enterprises that dominate various industries and play a major role in the global economy. In recent years, the influence of big business has grown significantly, leading to both positive and negative impacts on society and the economy.

The Third Industrial Revolution, also known as the Digital Revolution, is a current and ongoing period of rapid technological change and innovation that began in the late 20th century. This revolution is characterized by the integration of digital, physical, and biological systems, and is transforming the way we live, work, and communicate. It is also leading to a radical transformation of the global economy and the creation of a new paradigm of sustainable development.

The Second Industrial Revolution, also known as the Technological Revolution, was a period of rapid industrialization that took place between the late 19th and early 20th centuries. This period saw a dramatic expansion of production and an acceleration of technological progress, as well as significant changes in economic, social, and political structures. The Second Industrial Revolution was characterized by new inventions, such as the telephone and the electric power grid, as well as the development of new transportation systems, such as the automobile and the airplane.