Determinants of Supply and Demand Demand and Supply in microeconomics are used for price determination in the market. Supply and demand curves are used to illustrate changes in the price of various commodities. As the price for McDonald’s pizza decreases, its demand and supply go up. The changes in demand and supply cause the demand
Life-Changing Economics Q1 If I were in Jane’s shoes, the current situation would significantly change my economic outlook. My expenditure would be on the most important and urgent things at the expense of those that are not important. For instance, I would join an affordable college and drop out of Freedom University, which due to
Exploring Monopolies and Oligopolies Facebook is one of the world’s largest social media platforms in terms of valuation, revenue, and membership. Over the past few years, the company which was founded in 2004, has morphed into an international corporation with interests in the technology industry and marketing. Ideally, the company operates in an oligopoly market
Policy Discussion Questions 3 Social Security Disability Insurance (SSDI) is a federal disability insurance program that seeks to supplement the income of individuals who are rendered incapable of engaging in any substantial income-generating activity due to mental and/or physical disability that lasts for a minimum of 12 months (Social Security Administration n.pag). Individuals who meet
Private Consumption – Supply / Demand List three (3) goods or services that you buy frequently.  Fill in the following details for each good or service in the provided table:   The current price and the quantity that you normally buy. A higher price than the current price and the quantity that you would buy
Economics Question 1 Every household has its unique consumption possibilities. Human beings are both rational and irrational animals who, in a free market, have a wide range of goods and services to choose from. The choices of consumers are, however, dependent on their income levels, the price of goods and services offered in the market,
Classical Macroeconomic Model The classical macroeconomic model of economics espouses that the market economy is self-regulating as prices of commodities and wages of individuals adjust freely to the vagaries of demand over time. The model holds that when the economy is good both wages and prices of commodities go up and during an economic downturn
How Does our Economy Work? Roles of Firm’s in Our Macro-Economy In economics, producers, most firms, play crucial roles in the economy. All corporations across the world employ different factors of production, including labor, to produce various goods and services. They pay workers, thereby creating income flow to households. Besides, households spend their income on
Management Theory Management is a business aspect that has a wide range of duties that other parts of an organization, such as accounting, may not have. The tasks managers can perform depend on a broad set of skills while those that accountants undertake to depend on a particular expertise. Despite the difference between management and
Income Distribution and Labor Markets Income redistribution refers to the practice of leveling income distribution between the rich and poor through direct transfers. A top earner, says a producer, may favor income redistribution because it increases the consumer base since the poor have more income to spend. This leads to increased demand for commodities of
IT in the Global Economy Industrial Policy Industrial policy refers to policies that stimulate the development and growth of all or part of the global economy and promote structural change across the world. I agree that the United States should have an industrial policy to promote development and growth in its economy. The goal of
IF1203 Macroeconomics Coursework The study of a country’s current and expected macroeconomic environment is essential in the formulation of macroeconomic policies, both fiscal and monetary. The Great Depression exposed the failure of authorities to study both current and future macroeconomic expectations and thus unable to institute policies aimed at averting an economic depression of such
The Importance and Responsibility of Paying Taxes in Liberia The collapse of Liberia’s economy during the civil war led to the country’s financial system having problems. However, Liberia’s financial system improved since the election of President Ellen Johnson Sirleaf in 2006. The major source of government revenue in Liberia is taxed, which are levied on
Production Cost Analysis and Estimation Applied Problems Problem 1   Workers Employed Quantity of Pizzas Produced per Week 0 0 1 75 2 180 3 360 4 600 5 900 6 1140 7 1260 8 1360   Employees Cost of Ovens  Labor Cost   Total Cost Quantities of Pizza Calculation of Pizza Costs Average Cost
Process Control in Computerized Manufacturing When manufacturing is simplified, it involves a system of several processes. Process control is mostly utilized in a computerized manufacturing process and can range from simple manuals to programmable logic controls. The procedure plays a vital role in the working of a computerized plant process by monitoring, controlling, and eliminating
The Economics of Paris Paris, a city in France, began in the 3rd century BCE with a population of not more than 10,000 people; a time when it was not considered as significant. The city began to flourish when a race known as the Franks captured Paris, converting it and the surrounding regions to Christianity.
Today, national economies are tightly knit within the global economy. The integration of the global economy has improved international relations and increased the flow of capital among nations. Capital inflow in the form of foreign direct investment (FDI) increasingly plays a pivotal role in national development. Russia is one of the countries that shows the
Microeconomics Assignment What Determines a Household’s Consumption Possibilities? Consumers have diverse choices with regard to purchasing goods or services. Although consumers have diverse choices, the consumption possibilities of a household are determined by budget limitations. Per Ito (2014), the choice of a household’s consumption, therefore, depends on the interaction between the budget constraint and the
Microeconomics Assignment What Determines a Household’s Consumption Possibilities? Consumers have diverse choices with regard to purchasing goods or services. Although consumers have diverse choices, the consumption possibilities of a household are determined by budget limitations. Per Ito (2014), the choice of a household’s consumption, therefore, depends on the interaction between the budget constraint and the
Today, national economies are tightly knit within the global economy. The integration of the global economy has improved international relations and increased the flow of capital among nations. Capital inflow in the form of foreign direct investment (FDI) increasingly plays a pivotal role in national development. Russia is one of the countries that shows the
Corona Economic Essay COVID-19, a disease caused by the coronavirus (SARS-CoV-2), is an indelible pandemic that has affected the global community. The pandemic has caused an economic crisis that has not only affected the supply but also the demand chain in various countries globally, and Kuwait has not been exempted. As a result of travel
The Hungarian economy is a transition one, which operates based on a floating exchange rate policy. Hence, the fluctuations in its nominal and real exchange rates can be determined using various models, such as the monetary approach and the Balassa-Samuelson model, respectively. Hungary has changed its foreign exchange rate policies over the years, depending on
Industry and Company Analysis Industry outlook and company analysis are important decision-making tools for any company that wishes to keep afloat in the current competitive market. The two allow organizations to have in-depth knowledge of the industry, while at the same time inwardly looking to take advantage of opportunities the industry offer and eliminate weakness
Saudi Public Investment Fund PIF’s Real Long-Term Investment Policies and Strategies in Achieving Diversification The Public Investment Fund (PIF) refers to the Kingdom of Saudi Arabia’s sovereign wealth fund and the engine behind the kingdom’s economic diversity. Since it was founded in 1971, PIF has helped in the development of high-focused strategic sectors through growth
Advantages and Disadvantages of Three Macroeconomic Policies for Climate Change Mitigation Introduction Climate change poses an unprecedented challenge across the world. The gravity of climate change is evidenced by not only the measures different countries and organizations have put in place to mitigate its effects but also by the numerous international accords signed to blunt
The Australian Online Gig Economy Introduction An increasing number of people are departing traditional employment models in favor of undertaking freelance work. Various forecasts indicate that contingent workers in Australia will exceed the country’s workforce by 40 percent by the end of 2020 (Graham and Anwar 214). Freelance work arrangements have long been common in
Learn Today and Apply Tomorrow Areas in Economics I Fully Understand and How Course Improved My Insight In my perspective, economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. In this definition, there are two key areas that economics points on; resources are scarce
The choice of trade policy models can be influenced by several factors including structural and policy frameworks, and a country may choose either protectionism or trade liberalism as the underlying principle of its trade policies. The growth in trade across countries, therefore, comes as a result of concerted efforts towards the reduction of barriers to
Health Care Services Health care services play a crucial role in the economic growth of a country. Despite its significant contribution to a nation’s development, the healthcare industry is underrated and viewed by policymakers as complementary to the agricultural, manufacturing, and general service sectors. However, there has been an upsurge of investors entering healthcare services
Economics Game: Revenue Maximization Question 1 I chose to use two roundtrips in both peak and off-peak periods, such that I rented two planes. The rationale behind the selection was to minimize costs while maximizing profits. For instance, the cost of renting a plane applied to a full year regardless of the plane being used
Relationship between the Earnings of Professional Golfers in the PGA and their Performance Introduction and Hypotheses Professional golfing is a highly competitive field in which earnings are based on a prize system. Players in a golf tournament earn according to their placements in the outcomes. The tournaments comprise of four rounds with 18 holes. Playing
Coronavirus and the Economy The coronavirus has adversely affected the economies of countries around the world. For instance, the closure of non-essential business has led to massive job losses in the past few months. Additionally, households are struggling to meet their financial obligation due to low economic activities in towns and cities. The COVID-19 pandemic
Economics Game Question1 The strategy that worked best for me was time-based pricing. At the early stages, I set my ticket prices higher than my competitors to minimize the variable cost. As departure approached, I incorporated monopolistic advantage, by setting prices high for a limited number of seats, and the rest above that quota at
Part A: Personalized Money Management Composite Money management is vital in allocating budgets effectively. Per the economic priory, human wants are unlimited; hence a consumer has to forego certain choices for optimal budget allocation. I intend to apply the 50-30-20 rule in my budget allocation, that is; 50% of the budget for my needs, 30%
Economic System Analysis: Zootopia Zootopia is a country located in Central Europe, between Belarus and Ukraine. The zootoxin economy has been characterized by significant growth of the private sector in recent years. Particularly, the agricultural and manufacturing sectors have been growing pronouncedly due to the supportive government policies that have facilitated growth in domestic production
Impacts of Oil Prices on the Supply and Demand Introduction The article published in the New York Times on May 17, 2020, and authored by Krauss Clifford, explains how oil prices have increased in recent weeks. The rise in oil price resulted from decisions made by the Organization of the Petroleum Exporting Countries (OPEC) producers
Macroeconomics Question 1 Money is an economic unit that is generally recognized and accepted as a medium of exchange for transactional purposes, such as payment of goods and services, in an economy. The barter form of trade was used before the invention of money. In the barter trade, different commodities, such as cowry shells, gold,
Analysis of Recent News Article The article published in the Washington Post on April 7, 2020, by Fisher Marc discusses the shortage of toilet paper occasioned by increased demand. The toilet paper shortage witnessed across the world revealed a great deal about consumer behavior and the impacts it has on the demand and supply of
Anti-Trust Action Antitrust actions monitor businesses by checking on the distribution of economic presences to sustain consumer sovereignty. According to Jeans, Facebook is a dominant player in the social media market such that it holds 59% of the market share (par. 5). Evaluating the main benefits of an antitrust action as proposed by Senator Elizabeth
YOUR FINANCIAL TOOLKIT WORKSHEET https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit.html *COMPLETE MODULES 1-12 (SKIP 9)* MODULE 1: Income, Expenses, and Budget DEFINE “needs” and “wants” in a financial context according to this module. Needs refer to human’s basic goods and services that they require to survive. The requirements are limited, may remain constant over time, and their absence may result
Teena Tech Investment in the U.A.E: An Opportunity Analysis Summary For Teena Tech operating as a disruptive innovation company, the biggest challenge to success will be financial shortages. The company needs to engage in strategic decision-making in order to make the right choices regarding sources of finances, investment companies, and timelines for the sale of
Capital in the Twenty-First Century Summary The massive global wealth inequality in the 21st century is directly attributed to wealth inheritance and minimal taxation of the rich. According to Piketty, wealth inequality occurs when individuals earning a high rate of returns on their invested capitals are subjected to regressive taxation systems (431). Under a regressive
Uber Buys Postmates for $2.65 Billion Description of the Event In the article published by the New York Times on July 5, 2020, by Mike Isaac, Erin Griffith, and Adam Satariano, Uber announced that it had acquired Postmates in a deal worth $2.65 Billion (Isaac, Griffith, & Satariano, 2020). Uber made the decision to acquire
Elasticity Introduction Business decisions are critical to the performance of a business. These decisions should be well researched and thought out to ensure that they benefit the business, customers, and society at large. Good business decisions take into account both direct costs and indirect costs including sunk and opportunity costs. These decisions also consider the
Unemployment Introduction Unemployment is fast becoming a global issue. Many types of unemployment exist in an economy and their causes are also varied. Unemployment benefit is claimed depending on whether the cause of unemployment is an individual’s voluntary fault or economic movements. Marcelle has been affected by cyclical unemployment which occurs as a result of
The Social Welfare System in the United States The social welfare systems in the United States are designed to assist poor and vulnerable citizens. In particular, the programs under the social welfare system include positive action by the U.S. government seeking to promote the general welfare of the citizens. I believe that a comprehensive analysis
Trump and the Economy Trump is accused of destroying the economy. I agree with the accusers that Trump is destroying the economy through trade policies and the mishandling of the COVID-19 pandemic. The incompetency shown during the COVID-19 pandemic has led to massive job losses while withdrawing from international trade agreements is hurting the import
Managerial Economics Question 1 The following table gives firms shortened production function when the only variable input is labor and capital (the fixed input) is held constant at 5 units. The price of the capital is AED 2000 per unit and the price of labor is AED 500 per unit. Complete or fill the blanks
Skills, Education, and the Rise of Earnings Inequality among the “Other 99 Percent” The Research Question The research question is; do skills matter for earnings inequality? Why Is the Question Worth Asking and Answering? According to the authors, there are three main reasons why this question is worth asking and answering. First, the earnings premium
GDP vs Unemployment Rate Gross Domestic Product (GDP) refers to the final value of all goods and services produced in any given country. It is composed of four main components, namely; consumption expenditure, autonomous and induced investments, expenditure by the government, and net exports (Mankiw, 2014). GDP can either be nominal GDP or real GDP.
Homework Chapter 5 – Market Failure Market failure refers to the state of a market that is Pareto inefficiency; inefficient allocation of goods and services. The notion of perfect markets was first propagated by Adam Smith who was against government intervention in the markets (Stiglitz 2). This notion was later found to only exist under
DATA EXERCISE #2 Part 1: The Unemployment Rate What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month? The data summarizes the month of August 2020. The recorded unemployment rate for that month was 8.4% (“Employment situation summary,” 2020).
The Impact of Foreign Direct Investment on Economic Growth Introduction Foreign direct investment (FDI) entails the transfer of capital and technology from one country to the other, often from more developed nations to developing countries through the use of multinational enterprises (MNEs). The efforts to attract foreign direct investments stem from the general belief that
The Impact of International Trade on Jobs International trade involves the importation and exportation of products between two or more countries. Due to the nature of international trade, the impact of the trade on jobs can be traced to the unemployment levels in a country. International trade can either lead to job creation or job
Review of the Literature on FDI and Growth Foreign Investment in Developing Countries: Does it Crowd in Domestic Investment? Investment has been identified as the key determinant of economic growth across the world. Developing countries have, therefore, recognized foreign direct investment as an essential asset due to its numerous benefits. The article argues that multinational
Real GDP Growth The ‘release highlights’ show some real GDP growth rates that have been spread over two major periods, three months and annually. These real GDP growth rates have been further spread through a period of four years lasting between 2010 and 2013. During these periods, the real GDP has experienced fluctuations that have
The United States Supermarket Retail Market Overview The US supermarket retail market consists of large multinational and national companies that sell household goods directly to customers who are the end-users of those products.  The major players in this market are discount retail supermarket chains that sell a wide range of consumer products, for example, grocery,
Economic Effects This paper seeks to discuss the arguments that are raised for and against the use of GDP to measure societal wellbeing. It also seeks to explain why a policymaker needs not only to consider the traditional methods of measuring society’s well-being but also the non-traditional methods. Over the years, Gross Domestic product has
Monetary Policy Question 1: The collapse of the gold standard The gold standard monetary policy collapsed at the beginning of the First World War when countries embraced inflationary policies to finance the costly war. These inflationary policies were also used after the war ended as countries were undertaking reconstruction efforts. Differing inflationary experiences during these
Railroads, Adaptability, Competition and the Shuttle Train This article focuses on the evolution of rail transport and surveys various factors that may have contributed to that evolution. The author tries to give an explanation of how railway transport like any other transportation industry can respond to changes in market demand. He focuses on the various
Money Laundering Schemes against HSBC Although the United States government made huge steps in tracking the money laundering ills of the HSBC, there was laxity in reprimanding those responsible. The cash penalties issued against HSBC should not have been an excuse for the prosecution to differ the case. This was going against the punitive laws
Canada Macroeconomic Insights Innis Lecture: A Canadian policy for broad-based prosperity by Daniel Trefler is an article that provides a vivid picture of the prevailing macroeconomic situation in Canada. This article aims at exploring various factors that contribute to the worsening economic situation in Canada as well as various measures that can be used to
In defense of Globalization Globalization has been a subject to many debates due to its endless controversy on the impact it has on development issues. Those who oppose globalization view it as an enemy of man’s development. Hence, many critics of globalization tend to look at globalization from an economical perspective (Bhagwati, 2007). Globalization is
Contingent Valuation Critical Hausman (2012) has done research on contingent valuation methods and come up with the conclusion that it is hopeless. Its results cannot be effectively used to formulate policies, as it is oftentimes flawed. According to Hausman, and a number of other experts, there are three major problems that make it unreliable. These
Economic Impact Analysis versus Cost-Benefit Analysis This paper seeks to analyze Economic Impact Analysis (EIA) and a Cost-Benefit Analysis (CBA) for a sporting event that is of medium size.  Economic impact Analysis provides basic information on gross money streams, while CBA presents a more precise and reasonable overview of the exact cost and profits. This
Introduction Major series of reforms began to be experienced in china beginning the year 1978, a period termed by many economists as the post-reform era. Economic change in China is an international matter. These reforms privileged major sectors of the economy ranging from market dynamics over planning, private sectoral ownership over the public, foreign investments,
The Folly of Persistent borrowing Sometime last month, the US Federal Reserve ascertained what many economists had suspected: for the first time in five years, the decline in household debts had halted. In fact, the debt had just not leveled off; it had started to rise again. Shah and Chaudhuri, using a series of graphs,
The Role and Performance of International Monetary Fund Introduction The International Monetary Fund (IMF) was established 60 years ago during the Bretton Woods forum in the U.S. in 1944. After World War II, the British and the United States discovered that the previous gold customary to which the currencies for a number of countries were
International Trade The World Trade Organization has about 150 members from all parts of the world (Cattaneo, 2010). Among these members, around two-thirds of them are developing countries. These groups usually play a very significant as well as an active role within the world trade organization and international trade in general. There are a number
Global Financial Crisis Introduction The global economic or financial crisis (GFC/GEC) is generally believed to have started in the month of August 2007 (Gale & Allen, 2007). GEC began with a credit crunch after the US investors lost confidence in the value of the sub-prime mortgage that had resulted from the liquidity crisis. Consequently, this
Securities Fraud This concept encompasses a variety of white-collar illegal activities revolving around the deception of investors and other crimes aimed at manipulating financial markets (Straney, 2011). In this type of white-collar crime, an individual or an organization misrepresents information that the investors rely on to make their long and short-term decisions concerning their projects.
Definition The worldwide economic crisis alludes to an investment situation where the economies of nations everywhere throughout the world have been destroyed. The GDP of nations that are going down are in the negative zone. There is an extreme liquidity crunch and nations and governments far and wide are wildly making moves to battle this
Market Structure and Elasticity of Demand This paper analyzes the agricultural industry with a particular focus on fruits and vegetables. Fruits and vegetables are the healthiest sources of food globally and most doctors across the globe recommend their patients to take such foods for quick recovery and to foster a healthier lifestyle. Statements about the
Labor Force and GDP Analysis From economics point of view, labor force entails all those people who are ready and willing to work. Labor force is different to the populace, as there are members in the societies who are unable to carry out any task due to disabilities, situations or they do not want to
One Economics, Many Recipes Globalization describes the recent and rapid process of intercontinental economic, social, and political integration. This allows people to communicate, travel, and invest internationally and helps market their produces widely, acquire capital and human resources more efficiently share advanced technology and enjoy economics of scale. The idea of financial globalization was brought
Unemployment Rates The official definition of the unemployment rate is the part of the labor force that remains unemployed for at least six months. The US government defines the labor force as those people above the age of sixteen who are employable and willing to be employed. The paper analyzes US unemployment rates statistics for
Economic Indicators Introduction Economic indicators define various statistics that are mainly used by economists to gain more understanding about the current and future conditions of the economy (Cecilia, 2003). These indicators are used by investors to make major decisions on whether to invest and the sector of the economy in which to invest depending on
Economic Investment in Norway Norway is a small, modern, and vastly industrialized nation, with an extensive array of opportunities and ranked amongst the biggest worldwide, in terms of the success of a variety of economic sectors. It has an excellent economic framework and a steady political environment that make it a good spot for long-term
Economic Impacts of Increasing Minimum Wage The US Federal Government has proposed that the minimum wage be increased from $ 7.25 to $ 10.10 per hour. However, economic analysts differ in opinion about the potential economic impacts of this proposal. The paper analyses various opinions presented in The Wall Street Journal on the effects of
Annotated Bibliography Hoekstra, R., & Koopmann, G. (2012). Aid for trade and the liberalization of trade. Journal of World Trade, 46(2), 327-366. Retrieved from http://search.proquest.com/docview/1034566260?accountid=1611 This comprehensive journal mainly focuses on the political theories of the international trade economy between large-scale and small-scale exporting enterprises. Through comprehensive research, the document provides the most recent trade
Supply and Demand Simulation Supply and demand are two terms that assist economists in understanding economic principles. These expressions are used in both microeconomics and macroeconomics to determine the behavior of consumers in the market. The oil industry can be covered in both microeconomics and macroeconomics. The demand for oil establishes how much oil should
Case Study Analysis: Briefly summarize the background of the case study The case study offers an in-depth analysis of the events surrounding the 2005 oil refinery explosion in Texas City. It offers the report on the investigative activities of two bodies, British Petroleum and the U.S. Chemical Safety and Hazard Investigation Board, on the cause
Research Project Proposal on Petrol Pricing General Economic Policy (Area of Research) Microeconomic Policy: This designates the economic policy intended for particular sectors of the economy, industries, world markets, or demographic studies. It is convoluted with detailed means of interaction and communication between businesses and consumers. In addition, it normally takes the nature of the
The Market for Ideas It is quite easier for a government to regulate the market that deals with goods than to regulate the market for ideas. The government usually interferes with good markets to safeguard the customers, who lack the capacity to make the right choices. According to Coase, if the government makes an attempt
GDP Research Gross Domestic Product (GDP) is the main economic indicator as changes in GDP reflect the status of national economic performance. The paper analyses United States GDP trends in the past four years and suggests likely future changes in economic performance considering historical trends and future developments on issues affecting national economic performance. Bureau
Managerial Economics Economic activities are not always consistent in all years. There are times when economic activities are increasing gradually while in other times, they decrease below the normal level. The changes in economic activities happen over a long period, and involve four phases; expansion, recession, contraction, and recovery. Business cycles are unpredictable, thus they
Micro Paper A market is said to be a monopoly when a single firm or an individual operates it. However, in such a market, many buyers are involved. On the other hand, an oligopoly market is one where a few persons or several firms come together to control the market. The major characteristics of a
The Federal Reserve In the years before the institutionalization of the Federal Reserve System, the US banking system was on the verge of collapse given the panics and failure of the banks that were operational. In essence, the US banking systems began in 1782 following the licensing of the Bank of North America in Philadelphia
Data Mining: Its Application in Knowledge Management Introduction Knowledge within the contemporary information era is becoming an important organizational resource that provides a competitive advantage, giving rise to initiatives for knowledge management (KM). Several organizations have a vast amount of data in their store but are unable to discover valuable information hidden in it by
What Likely Happened To The Price Of Prostitution Services In New Jersey During The Most Recent Super Bowl And Why? Just like every other Super Bowl event that had happened there before, the 2nd February 2014 event at New Jersey was not different in terms of human trafficking incidents experienced earlier. The annual Super Bowl
Corporate responsibility /corporate citizenship Present corporate social responsibility (CSR) methods try to execute the vision of sustainable development at the corporate level. Indeed, corporate sustainability may be a more accurate descriptive label for these trials. Corporate social responsibility is an essential perception whereby corporations assimilate social and environmental apprehensions into their business processes and in
Indian’s Economy My selected developing country is India. The Indian economy has persistently experienced increased growth rates and it has a conducive business environment that has attracted various investments. It is recognized as the most favored destination for international investors, and this was according to the report provided by Doing Business in India. The majority
Air Pollution in New York City I am a resident of New York City and I am writing to express concern about the rampant air pollution in the city. This is an issue, which is increasingly becoming a nuisance to the city residents. Emissions from the massive amount of traffic in the city are constantly
The Role of the Federal Reserve on the Economy Introduction Following a series of financial crises, panic, and banking runs, Congress passed the 1913 Federal Reserve Act which was signed by the then president Woodrow Wilson and created the Federal Reserve System. The Federal Reserve comprises of twelve public-private district Federal Reserve banks. The Federal
Review of Econometric Article Introduction The present paper is a review of Soham Baksi’s article, Regional versus Multilateral Trade Liberation, Environmental Taxation And Welfare, published in the Canadian Journal of Economics in February 2014. In this article, Baksi investigates how reductions in regional tariffs affect environmental taxes of the participating countries and the resultant changes
Women are a Valuable Asset for Economic Growth 1.0 Introduction The neoclassical theory of economics asserts labor supply from the female gender is a function in creating value. Women create economic value at a market wage through the substitution effect. More so, women undertake the income effect function in order to create and improve the
Cinner and Customary Marine Tenure in the Indo-Pacific Introduction Western Pacific regions employ resourceful management techniques aimed at reducing and limiting the use of marine resources. Marine resources are socially, economically, and culturally beneficial to the members of the communities located across the Pacific regions. It is therefore important to protect, preserve, and conserve them
Price vs. Total Expenditure Duffman’s assumption that the total amount of money spent on purchasing beer in Springfield will fall due to a fall in the unit price of beer is incorrect. In a business context, the law of demand states that all other factors being constant, the price of a commodity varies inversely with
Columbia The Republic of Columbia is one of the countries on the Northwestern coast of South America (Altug, Chadha & Nolan, 2003, p. 23). Columbia is a unitary country and a republic by the constitution with 32 government departments. According to the report released by the Federal Bureau of Statistics, the Colombian population had risen
The Role of the Federal Reserve on the Economy Introduction Following a series of financial crises, panic, and banking runs, Congress passed the 1913 Federal Reserve Act which was signed by the then President Woodrow Wilson and created the Federal Reserve System. The Federal Reserve comprises of twelve public-private district Federal Reserve banks. The Federal
Review of Econometric Article Introduction The present paper is a review of Soham Baksi’s article, Regional versus Multilateral Trade Liberation, Environmental Taxation And Welfare, published in the Canadian Journal of Economics in February 2014. In this article, Baksi investigates how reductions in regional tariffs affect environmental taxes of the participating countries and the resultant changes
Technology Change and Economic Growth There exist major differences between the neoclassical and structural evolutionary theories of economic growth. In the broader level, the evolutionary economic theory is different from the neoclassical theory because the neoclassical theory dominates the microeconomic theorization while evolutionary theory observes economy as a process of change, in which economic activities
Women are a Valuable Asset for Economic Growth 1.0 Introduction The neoclassical theory of economics asserts labor supply from the female gender is a function in creating value. Women create economic value at a market wage through the substitution effect. More so, women undertake the income effect function in order to create and improve the
The Effect of Tourism on the Dominican Republic’s Economy Introduction The Dominican Republic is located in the Caribbean region approximately 800 miles from Miami between the Caribbean Sea and the Atlantic Ocean. It is located in the west of Jamaica on the island of Hispaniola. The republic has an estimated population of ten million people
The selected country is Yellow Island which has more capital than labor. A country that has more capital than labor can produce effectively and efficiently. The machines help to improve the quantity and quality of output and reduce production costs. When using machines, the amount of labor required is minimal and it is used to
Technology Change and Economic Growth There exist major differences between the neoclassical and structural evolutionary theories of economic growth. In the broader level, the evolutionary economic theory is different from the neoclassical theory because the neoclassical theory dominates the microeconomic theorization while evolutionary theory observes economy as a process of change, in which economic activities
Women are a Valuable Asset for Economic Growth 1.0 Introduction The neoclassical theory of economics asserts labor supply from the female gender is a function in creating value. Women create economic value at a market wage through the substitution effect. More so, women undertake the income effect function in order to create and improve the
Social and Ethical Issues Concerning New Health Care and Medical Technologies Communication technologies and information from computers persist to upgrade health care delivery and the scientific comprehension of the human body system and the related diseases that are likely to afflict it (Marckmann and Kenneth 3). Not only has technology advanced the efficiency and quality
U.S. Quarterly Trade Deficit Was the Smallest in 14 Years The article appearing in The New York Times editorial on March 19, 2014 details the massive decrease in the United States’ current account deficit to reach the lowest level ever seen in 14 years. This number stood at just 81 billion dollars, down from 96.4
Price vs. Total Expenditure Duffman’s assumption that the total amount of money spent on purchasing beer in Springfield will fall due to a fall in the unit price of beer is incorrect. In business context, the law of demand states that all other factors being constant, the price of a commodity varies inversely with its
Cinner and Customary Marine Tenure in the Indo-Pacific Introduction Western Pacific regions employ resourceful management techniques aimed at reducing and limiting the use of marine resources. Marine resources are socially, economically, and culturally beneficial to the members of the communities located across the Pacific regions. It is therefore important to protect, preserve, and conserve them
Globalization and Labor Market Impact on Switzerland Chapter 1 Introduction Globalization is the combination of the global economies in respect to trade (Weder & Wyss, 2010). The main factors in globalization include; advanced telecommunication and transport, posterity in Internet and rise of the telegraph. Globalization has been helpful to the modern international business because it
Detroit’s Bankruptcy After filing its bankruptcy case, Detroit brought into question the municipalities capability to disburse their debts. Detroit’s bankruptcy can be attributed to Macroeconomics matters attributed to massive decline in revenue. In addition, the city is challenged by an increase in pension and health resources that are restraining the limited available resources .The paper
Is Microsoft a Monopoly Introduction For many years, Microsoft has been the leading developer and producer of almost every essential component of a computer. It has developed multiple versions of the famous operating system software, which initially entered the market in 1981 but officially appeared in 1984 (Khan et al. n.p.). The threat to Microsoft
Unraveling the US Budget Deficit Fiscal deficit is realized when the government spending exceeds its revenue in a given budget year. Each year, the deficit adds to the accumulated government debts as the government funds the extra spending from either the loan from the public or the loan by itself. Public loans are normally generated
The Effect of Tourism on the Dominican Republic’s Economy Introduction The Dominican Republic is located in the Caribbean region approximately 800 miles from Miami between the Caribbean Sea and the Atlantic Ocean. It is located in the west of Jamaica on the island of Hispaniola. The republic has an estimated population of ten million people
The Effect of Tourism on Dominican Republic’s Economy Introduction The Dominican Republic is located in the Caribbean region approximately 800 miles from Miami between the Caribbean Sea and the Atlantic Ocean. It is located in the west of Jamaica on the island of Hispaniola. The republic has an estimated population of ten million people with
Federal Reserve Board The board of governors in Washington offers an overall oversight of the Reserve banks. It is made up of seven members who are elected by the president and approved by the Senate to serve 14-year terms. Janet Yallen She is 68 years old. Her ethnic background is Brooklyn, New York. She studied
Technology change and economic growth Background Economic growth simply means an appreciation in the value of goods and services in an economy over a period of time (Verspagen 2000). It is conventionally measured as the ratio of real gross domestic production to a country’s population characterized by price stability, equilibrium B.O.Ps, exchange rate stability, and
Possible use of Common Property to Address Common Problems The subject of the common property has attracted the attention of governments, NGOs, and ordinary personnel with multiple scholars in the discipline expressing their vast and varied opinions through literature. The “commons” as conventionally regarded are public or “common pool” resources, freely existing and un-allocated by
Fiscal policy and Taxation in the USA The United States has a fiscal policy in place. Fiscal policy refers to the government mechanisms to enhance effective national budget handling practices. The expansionary fiscal policy differs from contractionary fiscal policy because expansionary fiscal policy refers to attempts by a government to increase money flowing in the
Impact of ICT towards Economic Growth Introduction The Information Communication Technology (ICT) has played a significant role in the development of economies in the world. There are different ways through which ICT affects the economic growth. These include investment in the ICT industry and embracing of ICT in the production of goods and services (Dimelis&
France Fiscal Policies France plans to push for a lower value of the euro. This is meant to enable the country meet its fiscal targets that have been set by the European Union. France finance minister argues that it is impossible to meet the targets if the value of the euro remains high. This is
Asia’s Export Engine Sputters For many years, Asia’s development has been depending on selling products to the west. Currently that drive is ending, threatening to drain Asia’s economic development. The joint exports from the country’s four major powerhouses, including China, Japan, South Korea and Taiwan decreased by two percent within the early months of this
The Kodak Eastman Case Study Question 1 Three main factors contributed to the change in the organizational architecture of the Kodak Company. The first factor was the stiff competition the company experienced from the generic store brands and Fuji Corporation. With regard to this issue, the Kodak Company was no longer the only company in
Arguments against the Death Penalty The death penalty is the punishment passed on persons who commit serious crimes, and the case executed under the system of criminal justice. This punishment has existed for many years in which it has earned broad acceptance in America as from the colonial times. The death penalty was implicitly approved
The Controversial Keystone XL Pipeline Project The proposed Keystone pipeline project is supposed to traverse from Morgan, Montana to Steele City, Nebraska. The pipeline would cover a distance of about 870 miles, and it would enhance the conveyance of petroleum products across a wide geographical area. Nevertheless, the project has its’ own pros and cons,
Overcoming Ukraine’s financial crisis Introduction The impact of the global financial crisis on Ukraine was deeper as compared to other emerging markets as shown through the country’s fall in terms of output, a depreciation of 60% of Ukraine’s currency against the dollar in the year 2008, as well as the decline in the country’s stock
Impact of Government Clauses on Manufacturers Manufacturing institutions that choose to make supplies to the government are governed by certain clauses when making the contracts. These clauses are categorized into; fixed price and the cost-reimbursement clauses. With a fixed price contract, the manufacturer agrees to supply goods or services at a fixed price to the
Division of labor This is the art of subdividing a task to different people so as to achieve efficiency and effectiveness in the work to be accomplished. Division of labor therefore incorporates carrying out different tasks to achieve a given desired goal. Division of labor has always led to specialization as one does the same
Article Review: Economy Needs Consumers to Chip in This essay reviews an article by Jeffry Bartash that was published on July 14, 2014 in the Market Watch segment of The Wall Street Journal. In his article titled “Economy Needs Consumers to Chip in”, Bartash explains why consumers’ spending is a key component for the success
United States Economy The United States’ economy has performed favorably in the last three years since the end of the recession period. The current uninterrupted growth has led to decline in levels of unemployment and has largely attracted huge investments in key sectors of the economy. However, this has been cited as the weakest rebound
Mergers and acquisitions of companies have rippling effects on the industry, especially when the companies undergoing the merger have considerable control of the industry market share. Although such mergers face opposition from antitrust agencies, the government and rivals in the industry within which the companies operate, such mergers (known as horizontal mergers) are a possibility
Marketing Designer Jeans The designer jeans are a luxury product and its marketing strategy calls for a creating sensation of exclusivity to the potential customers. Thus, marketing of trendy products requires the use of admirable characteristics that will inspire customers to purchase the product (Arora n.d). In order to create value for the jeans, I
Poverty in America is Affected More by the Decisions of Profit-maximizing Firms than by the Decisions of Utility-maximizing Consumers Introduction Wage imbalance is an ongoing concern in a great part of the world. The exemplary instance of “the wealthy” versus “the poor” has led to big distractions in communities. The most effective method to remedy
GCC Region and Knowledge-Based Economy Introduction The idea of a knowledge-based economy was initially presented by Machlup (5-8), measuring the creation and dispersion of knowledge in the United States. Machlup was the first to measure the dispersion of knowledge as an expansive idea while other benchmarks were concerned with the propagation of experimental knowledge. His
Economical Impacts of Single Parenthood Introduction Parenting is a vital family aspect from both the children and the parents’ perspective. The modern world saw a rise of single parents that raise kids without any aid of the other partner. The causes of single parenting have always been based on various reasons while the aftermath effects
This paper focuses on basic principles of Natural Rate of unemployment. It uses various literatures to define, in simple terms, what rate of unemployment means while introducing the NAIRU concept. The paper details available ways tactics that can be employed to measure capacity utilization. In depth, it brings into focus the algebraic expressions to better
Wage Stagnation Summary For some years now, the rich countries have witnessed a press on wages. Actual pay has hardly increased in the US for some years and has decreased in Japan and countries in Europe (Satoshi, 2014). Decreases have mainly been striking in the distressed marginal economies of Europe, for instance, Spain and Portugal,
Career Choice The career that I am interested in is Financial Analyst. I have picked on this career because it appeals to me due to its cognitive requirements. There is substantial application of logical thinking, as well as mathematical computations in this career. The ability to determine the solvency of a firm from the mere
ECONOMICS: Arab league Vs the world The 22 Arab league members consist of the countries that are mostly occupied by the Arabian such as the Syria, Lebanon, Qatar, Djibouti, Kuwait among others. The total population of the 22 states stands at 370,206,255; it is always perceived that the countries are rich in terms of resources.
Discussion Economics Life expectancy at birth m/f (years) The life expectancy at birth of the seven countries varies with Japan having the highest life expectancy at birth of 80 years (male) and 87 years (female) while Kenya has the lowest life expectancy at birth of 59 years (male) and 61 years (female).The life expectancy of
Viatical Insurance Part 1: Viatical Insurance Who is a Suitable Investor? A suitable investor is an individual whose net worth is not below $150,000. A suitable investor can also be an organization with a liquid net worth beyond $5,000,000. Pros and Cons Viatical settlements are monetary transactions carried out between two interested parties. According to
GDP Paper The paper will seek to provide an overview of the data and information on the current real G.D.P trends in the U.S. During the period shown in the BEA release highlights, the real gross domestic product (GDP) had increased by 4.6 per cent. Comparing the second quarters in the years 2010, 2011, 2012,
Microeconomics:  Scarcity, Choice and Cost Today, firms engage in decision making in regard to how they utilize resources. It is worth noting that resources are scarce or limited. As a result, firms must find the best ways on how to utilize such scarce resources. They focus on initial needs and avoid costs, which they can
Environmental Economy Today In March, 2014 a report by Gallup indicated that more Americans were inclined to environmental protection over economic growth. However, the choice was correlated to economic stability, therefore, implying an economic decision (Swift n. p). The issue of environmental protection has become a global concern due to the extensive and severe effects
Proposition 30 -Temporary Taxes to Fund Education Proposition 30 was a ballot measure suggested by California governor to be voted for in 2012 elections in an attempt to prevent California state schools from budget cut, in addition to increasing taxes for a specified period. According to this proposition, taxes for high income earners (individuals earning
State of Housing Market in 2014 Despite the housing market beginning on a higher note in 2013, it slowed as it approached 2014. The latest and existing house sales went down. This was because of the elevated mortgage charges. The increase of mortgage charges led to housing market slowdown. Constant low inventories have added to
Market structures Introduction Market structures are composed of buyers and sellers who though the demand and supply that they have, control the prices of products and services in the market. There are different types of market structures depending on the products and services. The different market structures have different entry and exit barriers, and the
Market Failure In most cases, market failure is usually considered as the lack of an efficient flow of goods and services in a free market. There are some factors that affect the market such as competition, monopoly and efficiency. A monopoly is a market structure that only has one seller and many buyers, with no
Consumer surplus It is a situation where a person is ready to buy at a higher price he actually pays. Total amount paid for the goods will be equal to the actual satisfaction that will be derived (Carbaugh, 2011). Consider a consumer deficit; it implies that the consumer will not afford the goods a he
Scarcity and Economic Growth Scarcity In economics, the main problem that is people face during their quest to satisfy the unlimited wants and needs is scarcity. Scarcity in this context refers to the limited nature in the number of resources that are used to satisfy human wants (Barro & Sala-i-Martin, 14). Owing to this situation,
Market structures Introduction Market structures are composed of buyers and sellers who though the demand and supply that they have, control the prices of products and services in the market. There are different types of market structures depending on the products and services. The different market structures have different entry and exit barriers, and the
Market Failure In most cases, market failure is usually considered as the lack of an efficient flow of goods and services in a free market. There are some factors that affect the market such as competition, monopoly and efficiency. A monopoly is a market structure that only has one seller and many buyers, with no
Culture & Socio-Economic Development Introduction There have been debates as to whether culture has an impact to socio economic development with various schools of thoughts being presented. On one hand, scholars argue that culture is so diverse across the world that it cannot be accurately tasted for its impact on economic development. For example, Greif
International Trade From an economic point of view, trade gains are benefits accrued to agents as a result of consenting to trade with each other. It is an act of liberalizing trade, and hence increasing the producer and consumer surplus (Samuelson, 1962). Questions and suggestions What are some of the dynamics of trade gains? Trade
China’s Trade Data: Articles Review This essay reviews two different news articles that report on China’s latest trade data release. It evaluates the positive and normative economic information that are delivered in the two articles. It also highlights the points of agreement and disagreements expressed by the respective authors. The first article, China Trade Data
Consumer surplus It is a situation where a person is ready to buy at a higher price he actually pays. Total amount paid for the goods will be equal to the actual satisfaction that will be derived (Carbaugh, 2011). Consider a consumer deficit; it implies that the consumer will not afford the goods a he
Scarcity and Economic Growth Scarcity In economics, the main problem that is people face during their quest to satisfy the unlimited wants and needs is scarcity. Scarcity in this context refers to the limited nature in the number of resources that are used to satisfy human wants (Barro & Sala-i-Martin, 14). Owing to this situation,
Price Discrimination Price discrimination involves the business of setting different prices to different customers who are located at different places.  It is usually possible where goods are not sold in a competitive market, and so it is mostly possible with monopolists. The goods are usually sold at different prices in different geographical areas, which are
Policy Analysis Tax Justice Debate in the United States of America This debate is a close examination of the tax justice in America and focusses on the need for taxation (Thorndike and Dennis 78). Economists argue that a good tax system is one that is efficient and equal to all citizens irrespective of their financial
PART ONE For decades, the Asian export industry has been dominated by four major powerhouses, China, Japan, South Korea and Taiwan. The four countries have been the chief agents for spearheading the Asian growth and development of the Asian continent and an economic go slow for them implies that the continent’s economic projectile is slumbered
Determinants of Aggregate Consumption, an Islamic Analysis within Comparative Perspective             The marginal propensity to consume as it relates to the Islamic community is highly dependent on the traditional values and religious principles. Consequently, this has a greater effect on the aggregate consumption amongst them. In other words, Islamic values and injunctions do have a
A tax incentive is a facet of a country’s tax code designed to entice a particular economic activity. What are the major savings incentives in our tax code? Comprehensive consumption taxation One of the efficient methods of providing a saving tax incentive is to convert the current individual income tax into an individual consumption tax.
Public Financing and the Public Roads Provision of infrastructure as a public good has been the role of the government, which is funded through collection of revenue from the public. In America, the government has spent billions of dollars in financing road construction. Additionally, more expenditure is required for maintenance of the roads and, therefore,
Pricing Decisions and Cost Management Introduction Accounting is an important sector in any organization. It is through this department that the firm’s managers compute and make all the financial decisions that directly or indirectly affect the company. Managerial accounting, also called management accounting, refers to the process in which managers identify, analyze, record, and present
Determinants of Economic Growth and Nominal and Real GDP Growth Rates   Economic growth in its immediate context is the probable increase in the various goods and services produced by a given population over a given period of time. The growth in economy has in the past been a measure of the standard of living
Recovery from Recession and the Challenges Economic indicators are optimistic, and Americans are reading stories of the macro effects of recovery. It is good news that the housing market is indicating a positive growth, with Freddie Mac and Fannie Mae registering remarkable profits.  Besides, the rate of unemployment is also decreasing, with a low 5.9
Why the Number of Union Workers Decline Largely In the USA from 1990s To 2010 Intro: I am writing concerning the number of union workers declining largely in the US from 1990s to 2010s since I find it hard to imagine the United States devoid of unions. The continued trend of decline is worrying as
Elasticity and Pricing Any business needs to understand price and demand elasticity when building strategies for products or services in order to maximize profits by fixing the right price. Therefore, price elasticity can be defined as the frequency of response of quantity demanded due to change in prices (Marherjee et al 38). Price elasticity measures
Industrial Revolution Introduction Industrial revolution took place in two phases between the seventeenth and the nineteenth century. The first industrial revolution took place in the early eighteenth century and extended up to early eighteenth century giving birth to the secondary industrial revolution of late nineteenth century, which has extended up to date for developing nations.
Production and Cost Wessels (2012) notes that in economics production is the combination of raw material with inputs in order to come up with a consumable product or service that adds to the utility of a consumer. Cost of production on the other hand is considered to be the cost a firm incurs during production
Employment rates in the United States The 2008 global economic crisis resulted in loss of many jobs not just in the United States of America, but all over the world. After the end of the President’s Bush’s term, President Obama took over and most Americans felt that there would be an increase in the number
Economic Analysis Introduction A merger in its immediate context is the situation where two companies come together to become one. This is usually done by the new company buying more shares of another company in the sense that they become the biggest shareholder and hence gaining the absolute control of the company in question (Wheelen,
Illegal immigration does not harm the US economy Immigration is the process whereby people move from their native country to another country with the intension of living there permanently or being future citizens. People who relocate to another country are called immigrants; there are two forms of immigration legal and illegal migration. With legal immigration
The Keynesian vs. Neoclassical Theories Introduction This paper contrasts two clashing and convergent kinds of economic theories namely, Keynesian theory and neoclassical theory.  Each of the two theories employs a unique way of comprehending not only how economies work, but also the manner in which they interact with society.  Put simply, both the Keynesian and
Effects of Unemployment to the Economy Introduction The economic system of a certain region refers to the process of producing goods and services and conveying them to the consumer incorporating the economic agents. Nicola (2008) defines the economic agents as the individuals, firms, organizations or governments that influence the production and distribution of commodities. Various
  ExxonMobil Introduction A multinational enterprise (MNE) or multinational corporation (MNC) refers to an organisation with control over the production of services or goods, or that that has ownership over goods and services in one or several countries, besides its home country (Schermerhorn 387). Although ExxonMobil is incorporated in the United States, it has operations
Business and Economic Opportunities in Southwest Florida Introduction Southwest Florida is situated in the Southwest Coastal gulf of Florida in the United States of America. Together with its component cities and towns, it has been in a long time perceived as the most elite locations for vacation residences for wealthy and high-profile citizens. It is
Geo-blocking Introduction                                                        The growth of technology has contributed to higher competition levels among companies in different industries. The availability of online products that can be downloaded free or on payment of a specified price has allowed companies to increase their profits dramatically. Geoblocking is the practice of limiting internet access to some websites by businesses
Reducing budget deficit by lowering discretionary caps Budget deficit refers to the margin between the expenditure and revenues of a country. It is a term used when expenditure amount is bigger than the revenue. Deficit is also the deficiency from the amount that was required. From the White House website on government budget, it is
Race and Unemployment Natural unemployment is the minimum rate of unemployment existing within stable economic conditions. Economists note that, high rates of unemployment in the greater participation of the labor force, comprising the working age population, is the main cause of the rise in levels of ‘Natural’ unemployment (Hershey 24).  Unemployment is considered one of
U.S.-India Agreement on Stockpiles Introduction International trade refers to the movement of goods across the national borders. The environment in which international trade is conducted has laws, agreements, and policy systems that collectively define the ease with which business is carried on. As such, the factors also influence food security among nations that share the
IPhone5 from Apple Inc. Apple Inc is a company renowned as one of the leading organizations in the production and sales of smart phones. iPhone5 is one of its many smart phones that sell significantly well in the market industry of smart phones. Many Apple customers like this product due to its usability and friendliness,
The Impact of Industrial and Economic Factors on Company Performances Industry performance in any country is largely influenced by a variety of micro and macro factors (Cairncross 54). A company operates under industrial factors that incorporate macro-economic forces. The stock performance of the company is also as an influence of micro economic factors. These factors
Foreign trade is an important element of any country’s economy and the economic indices by which economic performance and conditions are measured are heavily reliant of exports and imports. A self-sufficient country would be characterized by minimal importation of goods, mostly for production purposes rather than consumption. Though this would produce favourable figure for measures
Unemployment in the U.S.A One of the primary macroeconomic goals is the employment of all factors of production or the minimization of unemployment (Welsh & Welsh, 104). Unemployment rates in the U.S.A have been fairly constant in the past six years. Research shows that the rate of unemployment in the country ranges from about 5.1%
Impacts of Globalization on Economic Activities Globalization is the process of international integration. This process is associated with the exchange of products, worldviews, and ideas among other aspects. Globalization has impacted economic activities to a great extent. This paper discusses some ways and aspects through which globalization has affected economic activities. International trade has been
Fraud as the Primary Cause of the Indonesian Currency Crisis Background and History of Indonesian Currency Crisis The Indonesian currency crisis links to the Asian financial crisis, which began on 2nd July 1997 due to failures of the Thai government to take full responsibility of its foreign debt. In the event that the country’s huge
Macroeconomic Trends in the Gulf Cooperation Council Countries. The gulf cooperation council which was constituted as the cooperation for the Arab states of the gulf is a union of various governments in the Persian Gulf region meant at harmonizing economic integration and political cooperation among the member states. The members have their headquarters in Saudi
Doing Business in China: Airbnb Introduction China has become a global economic phenomenon with its market being among the most important. Its increasing position in global business makes it integral to undertake business in China (Feldman, 2014). With $7.3 trillion 2012 GDP and projected growth, it is the second largest economy after the U.S. and
Computational Economic Models: Agent-based Computational Economic model Introduction The modeling of statistically and analytically defined economic problems is often carried out using advanced computer softwares based on economic models. An example of such models is the Agent – based computational analysis model (ACEs), which considers economic processes as changing systems of agents that interact (Reid
Types of Unemployment The causes and effects of unemployment differ, depending on the type of unemployment. Towards this end, four types of unemployment are discussed as below: Frictional unemployment This refers to the period when an individual is switching jobs, or between one job and another. Frictional unemployment happens due to a discrepancy between jobs
American (domestic) current event, firm, or market. Real estate market conditions of America are currently good; the recovering of the economy is leading to a growth in demand that is surpassing the new supply and in turn affecting the prices.  This is an indication that the a number of things are going to change for
Money and Banking Significance The significance of virtual banks is that if offers a direct banking platform mainly through the internet such that the traditional client services such as depositing, withdrawing and financial transfers are conducted through a network of complementary technologies that include mobile phones, computers, and automated teller machines (ATMs). Competition There competition
Relationship Between unemployment and Crime Introduction In the discourse about the relationship between crime and unemployment, two basic schools of thought have existed. One argues that crime increases due to increase in unemployment rate through the increased supply of offenders while the other school argues that increased unemployment rates increases the supply of crime victims
Overuse of antibiotics in livestock and the effects on the human bodies The antibiotic resistance that is developing worldwide in disease causing bacteria is one of the primary threats to humans and livestock. It has contributed to burdens, for example, treatment failures and in the worst of cases, infections that cannot be treated or infections
Data Management Plan For Alibaba Leading Chinese firms are laying plans for Internet expansion to take the advantage of the quick expanding economy, which has made the country generate a vast amount of data each year. Alibaba Group is a B2B marketplace that connects buyers, as well as suppliers all over the world. The company
The Breakfast Cereal Price War In 1995 For several decades, the breakfast cereal business in the US has been among the most profitable businesses. Kellog’s, General Mills, as well as Kraft Foods, had dominated the industry with their unique brands. Possessing strong brand loyalty, in addition to occupying large shelf space in major supermarkets kept
Effects of Increases in Cigarette Taxes Consumption of cigarettes led to many deaths among youths in the United States. Some states reported a significant decline in the number of young adults losing lives due to smoking after the prices of this product went up in some states in US. This followed a decision by many
The Natural Resource Curse, GDP and Well-being Introduction When a country first discovers economically-viable natural resource reserves, such as oil or gas deposits, we expect such a country to attain enhanced economic growth on account of such a discovery. However, this rarely happens as most of the countries endowed with natural resources are embroiled in
Porter Introduction to the Auto Industry 1.1. Industry Definition. The industry encompasses establishments whose primary target is to engage in activities of whole selling new and used passenger automobiles, trailers, and trucks. Moreover, these industries deal with motor vehicles including motorcycles, motor homes, and snowmobiles (Anastakis, 2006). The industries that closely relate to the American
The Difference between Capitalism and Socialism In the 19th century during the socialist movement, a radical agreement emerged with a claim that there would be a different society of socialism and capitalism. The understanding of socialism was clearly understood by the charitable Marxist socialist, revolutionary socialist, Christian and anarchist’s socialist. The time of this radical
What Is the Federal Reserve’s Response for the Great Recession, and how did it Work? The great recession seriously affected the United States economy in 2007. The economic activities of the late 2000 weighed in on the United States economy to an unpredictable and unexpected turn. The economy took its lowest turn recorded in history.
Introduction Established in 1971 in Abu Dhabi, Abu Dhabi National Oil Company (ADNOC) has grown to become the biggest dealer in oil and gas exploration and production in the Middle East thanks to its diversification strategy. ADNOC has 15 subsidiaries that ply their trade in oil and gas exploration and production, refining and processing, petrochemicals,
U.S Economy While the U.S economy has over the years been faced with major financial crises, it has nonetheless, remained strong against other leading global economies. The 2008 recession was severe and according to several economic indicators, it was more severe than the 1930’s depression (Elwell 1). While the U.S economy took a beating form
Health Care System in Saudi Arabia Introduction The Saudi government has placed high priority on the advancement of health care services from the national level to the grass roots level. As one of the rapid growing economies in the Middle East, Saudi Arabia is the largest oil producer in the world. The revenue from oil
Domestic Violence Introduction Domestic violence refers to a set of obnoxious behaviors depicted in any relationship used by one of the partners to gain and maintain authority over the other intimate partner (Benson, Fox, DeMaris, & Van Wyk, 2003, p. 208). Domestic violence can be inflicted physically and sexually, as well as economically or psychologically.
Optimum Currency Areas Developed by Robert Mundell, the theory of Optimum Currency Area argues for the integration of a geographical area’s economy likely to create the greatest economic advantage to the area. A single currency therefore, allows the potential for elasticity in the supply of regional means of payment (Mundell, 1968). While many countries traditionally
Analyzing the Long-Run Economic Consequences of a “Lost Decade” For the Eurozone The Main Factors of Long Run Economic Growth             Long run economic growth attributes to enhanced productivity and growth at all the levels of a particular region or territory. More precisely, for the features of long-run economic growth to be successful in the
The Sharing Economy: Peer-To Peer Lending Introduction One of the emerging trends in the financial sector is peer-to-peer lending (P2P). The business idea is that P2P can easily bypass traditional financial intermediaries and go ahead to borrow directly from investors at a much lower cost. Over the past years, P2P lending has dramatically grown (Cecchetti
Dubai Expo 2020 Introduction The world Expo event takes place after every five years, it is held in different countries around the world and millions of people attend this spectacular event. The major reason for attending is the exploration of the pavilions, the rich exhibitions and the cultural events that are showcased by the numerous
Ethical case studies Case study 1: Breach of Conduct Background Martin has been enrolled in the postdoctoral research program in the company for the last one and a half years. He was assigned the main research laboratory and has since been working closely with Paul, Clifford, and Maryanne, technicians in the laboratory. The research Martin
Factors that Affect Currency Exchange Rates in the Middle East Literature review Extensive research has been conducted on the factors that affect exchange rates. Some of these researches downplay the roles of some factors while they amplify the roles of other factors. A study conducted by Patel et al back in 2014 established that about
California Minimum Wage Should be increased to 13 Dollars Raising the minimum wage has become a heated topic in many states that think that the current federal minimum wage level is inadequate to match with the current rate of inflation in the country. California is not the only state that is pushing for minimum wage
Which are the main tax revenue sources at the federal, state, and local levels of government in the U.S.today? Based on what you’ve learned about tax elasticities [see Mikesell, pp. 357-359, and the Tax Notes, pp. 8-11], which level of government would you expect to have the fastest and most volatile baseline tax revenue growth
Abstract United States that has created its image as a superpower country indeed plays a massive role in determining the world’s market and the economy at large. However, in the year 2007, the United States stepped to a crippling economic recession that was viewed as the worst economic downturn ever since the great Depression, that
Economic Convergence across the Globe Since 1980 Table of Contents Economic Convergence across the Globe Since 1980. 2 Table of Contents. 2 Abstract 3 Introduction. 3 Analysis. 5 Challenges facing global economic convergence. 12 Conclusions and Recommendations. 13 References   Abstract This paper aims at exploring the various instances of economic convergence around the world
Railroads Introduction The construction of the railroads in the United States heralded an economic revolution in the 19th century whose ripple effects are still being felt in the country and beyond up to date. It opened the country to new economic opportunities that attracted not only local but also foreign investors. It changed the transportation
Case Study: “Go and Get a Job” Introduction This paper analyzes a case study of the unemployment rates report in Australia. As elaborated in the case study, the rates of unemployment in Australia recorded an all-time low in 2003 within a period of two decades. Following this report, an Australian Treasurer, Peter Costello advises the
International Economics Part (a): Effects of ECB Greek bail out on interest rates Originally, when the European Central Bank chose a bailout, they expected interest rates in the Greece economy to remain low and then rise a notch higher after the economy started recovering. Upon approval of a bailout by the Eurozone finance ministers, the
The Economy of the United Arab Emirates Country Introduction Geographic Location             The United Arab Emirates is a conglomerate of seven emirates, and the country is in the Middle East locale. Beyond doubt, the UAE is on the Eastern shore of the Persian Gulf, and on the Musandam Peninsula (Kanna, 2011). The area range of
An E-Commerce Strategy for MMIS Bakery Company Overview MMIS Bakery was pioneered by two individuals that had passion in cooking and baking about 10years ago. The business grew from being a small retail shop offering pastries and cakes to operating other stores within Florida and having a workforce of about 30staffs. The business has expanded
One of the main responsibilities of the Central Bank is to issue money based on computation of estimated cash demands. It is therefore important for the financial institutions to initiate monetary policy that will provide some guidance on the best approach to use in the supply of money to ensure that it achieves the objectives
3.0 Introduction United Kingdom is considered among the largest national economies in the world. This can be affirmed after it was ranked the ninth largest importer and exporter in 2014 and second largest economy in Europe based on the nominal Gross Domestic Product and Purchasing Power Parity. The economy is therefore the most globalised in
Introduction This essay researches and discusses the economy role of international trade in shaping the Canada’s future. First, it is essential to understand basics about the international trade. According to Johnson (2013), it is the exchange of goods and services at the international level, especially between two or more countries. He further illustrated that international
Business Acquisitions Business acquisition deals with horizontal and vertical integration. Vertical integration refers to the acquisition of businesses in the same level, department or lineage of business undertaking. However, it may occur between different departments and organizations. Vertical integration infers that a business is expanding vertically by acquiring businesses on different lineage, levels and organization
Introduction This easy provides an analysis report of the Australian coffee industry. In particular, the report gives details of the current status as well as future prospects of the Australian coffee industry. The analysis covers the past 10 years of the industry, giving details of the market structure, industry players, profitability, performance, as well as
The Role of Innovation in the Canadian Economy Introduction Innovation and productivity are important aspects in the modern economic world. The quality of life individuals in society live depends on the value of goods and services that they can produce within a given period of time. The driving force behind sufficient productivity in any economy
Drug Shortage in the Pharmaceutical Industry Introduction Drug shortage is a situation in which the total supply of drugs is inadequate to meet the demand at the consumer level. Drug shortage is a global issue, which is rampant in many countries across the world. The outcry by stakeholders in the industry on the issue continues
Assume there is a well-defined geographic area of a city. The area is composed exclusively of apartments and is populated by low-income residents. The people who live in the area tend to stay in that area because (1) they cannot afford to live in other areas of the city, (2) they prefer to live with
The environmental economic impacts of the Deepwater Horizon oil spill in the Gulf of Mexico Introduction  In April 2010, the Macondo well belonging to the BP Oil Company in the Gulf of Mexico blew up in the 1500 meters deep water causing an exploding in the Deep Horizon drill that killed about 11 workers and
Australia Economy Over the past year, the economy of Australia has remained below average (Rahman, Shahbaz, & Farooq, 2015). However, in the March quarter this year, the country received a higher economic growth but the growth was not repeated in the June quarter. Most of the key forces the shape the economic growth in the
Macroeconomics The article U.S. Businesses add 200,000 jobs, ADP Survey shows published in “The New York Times” on September 2015 suggests that Americans have increased their spending behaviors. The report indicates that job placements increased by 200, 000 in the month of September and 180,000 in the preceding year. Another observation made in the report
Managerial Economics Concepts in relation to the case study –Microsoft Company In relation to Microsoft Company’s case study, the following paper is an analysis of the market structures faced by the firms in the industry. The paper highlights the impacts of market concentration in the industry and how the company has successfully used trade barriers
Macroeconomics The article U.S. Businesses add 200,000 jobs, ADP Survey shows published in “The New York Times” on September 2015 suggests that Americans have increased their spending behaviors. The report indicates that job placements increased by 200, 000 in the month of September and 180,000 in the preceding year. Another observation made in the report
Refugees are good for Economic Growth Introduction Background Migration of people as refugees has become a powerful force affecting majority of global economies. More than 175 million people who accounts for 3% of the global population, reside permanently outside their countries of birth. In United States, Florida has for a long time been a major
Refugees are good for Economic Growth Introduction Background Migration of people as refugees has become a powerful force affecting majority of global economies. More than 175 million people who accounts for 3% of the global population, reside permanently outside their countries of birth. In United States, Florida has for a long time been a major
Gender and Racial Pay Gaps Despite the efforts to promote equality in the United States, there economic inequalities that persist among genders and races. For years, there has been a wide wage gap between male and female workers in the country. The wage difference is also high between races with whites earning high wages compared
Greece Economic The objective The objective To establish the current economic status of Greece and how the three values (GDP, unemployment, and inflation) affect the overall economy of the country. It would look at the current status of the economy with regard to the three objectives and then give a conclusion on how these values
A review of the effects of the alcohol tax in Australia Introduction Australia is one of the countries with the highest rates of alcohol consumption in the world. From the colonization period to the end of the 19th century, Australians have been large consumers of spirits (Commonwealth of Australia, 2011). Conservative estimates in the 1800s
Notion of Supply by Adam Smith, David Ricardo, and Karl Marx Adam Smith, David Ricardo, and Karl Marx are collectively referred to as the founding fathers of economics and with good reasons for their enormous contribution to our understanding of production. For instance, they have contributed to the development of the surplus approach which is
The Evolution of the Economy in Saudi Arabia Introduction The economy of Saudi Arabia has grown and prospered due oil revenues. The country exports oil and other oil products to developed countries for instance the US. “Saudi Arabia is one of the largest players in the global oil market because it produces more than a
Introduction During times of economic crisis, the treasury, Federal Reserve, as well as the Securities and Exchange Commission (Sec) has been providing various steps of controlling situations in United States of America. Economic crises have occurred several times in history, some creating minor impacts while some drastically affecting the global economy. One of such economic
This Policy Paper is an analytical assessment of 5 recommended policy positions on Global debt. Executive Summary The motivation behind this policy discussion is to illuminate the radical increment in cutting edge economies’ public debt, which may hamper growth and development. Efforts to curb deflation through lower interest rates has not borne any fruits in
The Impact of Human Capital and Economic Growth Evidence from Developing Countries Introduction             Developing countries consistently employ all available measures to ensure that they sustain positive economic growth and development. Many factors are incorporated in explaining the GDP of a given country(Chen, Quan & Liu, 2013). With economists arguing that the development of a
Reviving the America’s Economy Main Argument According to J. Slaughter, the International Tax System is likely to reduce the competitive intensity between the multinational firms while increasing the jobs demand. Obviously, the competitive strength of these firms depends on the skills of the American workers. The apparent signs of the economic recessions and the increase
The 1973 oil embargo by OPEC nations and its effects of the Economic Development of the United States Introduction The US economy in 1970s experienced a series of economic problems, such as high rates of unemployment and frequent financial difficulties.  Successive US government under presidents Nixon, Ford, and Jimmy Carter attempted different economic remedies but
Impact of a Macro Event on Domestic and International Market Macro events have great impact in both domestic and international markets. Inflation is a key macroeconomic element that challenges both international and domestic market. Inflation is a primary concern for policy makers and economists because it projects a variety of costs on a countries economy.
Cuban Refugees are good for Economic Growth in Florida Problem Statement The highest numbers of Cubans refugees who have settled in the United States are in Florida, a state that is only 90 Miles from Cuba’s coast. Their movement to the United States was highly influenced by the periods of political repressions in their country.
The 1973 oil embargo by OPEC nations and its effects of the economic development of the United States Introduction The US economy in 1970s experienced a series of economic problems such as high rates of unemployment and frequent financial difficulties.  Successive US government under presidents Nixon, Ford and Jimmy Carter attempted different economic remedies but

Sample Essay on Amazon.Com

Amazon.com Market Structure Market structures differ depending on the level of competition that exists in every market, and various conditions of the market in which the business operates. In the retail industry, Amazon.com operates in an oligopoly market structure because it meets the factors that characterize the structure. Amazon is among other few large firms

Sample Essay on Economics

Economics Part A Futures Unlimited Corporation is a single-price monopoly corporation that has a government license thereby effectively creating a market barrier to other corporations that might want to do the same. The company is a single-price monopoly since it charges the same price for every unit it sells and does not discriminate among the
Abstract Purpose: the purpose of this research paper has been to evaluate what the Nigerian government has done to manage its oil resources efficiently. The objective of doing this has been to establish what the government ought to do to ensure these resources are managed efficiently so that future generations can benefit from them significantly.
Economic Essays Impact of the recent reduction in rates of unemployment in the U.S A recent report by the Bureau of Labor Statistics in the United States of labor shows that as at January 2016 the rate of unemployment had reduced to 4.9 percent. This resulted from the additional 151,000 new jobs and the wages
Solid Waste Disposal to Landfill Fees Solid waste disposal is a problem in many countries, prompting many governments to put in place measures aimed at managing the problem. Like the rest of the world, the US continues to battle with the problem of solid waste disposal. According to the United States Environmental Protection Agency (EPA),
IMF and the World BANK Introduction The World Bank (WB) and the International Monetary Fund (IMF) are the two most influential international financial institutions across the globe. They are the chief sources of lending to nations across the world, especially developing nations, where they use the loans they offer to poor nations to edict major
Regional Impacts of Changing Oil Cost Introduction The price of oil plays a vital role in shaping the global economy as it makes the largest traded commodity internationally. This is due to its use in mechanical work and production of electricity; hence, it falls under the hydrocarbon economy. Oil is used to produce other fuels
Bankruptcy Laws Voluntary and Involuntary Liquidation Concrete Experience: Sometimes back, I was able to experience a situation which made me realize how vulnerable one can be in a business. As a low income mother, I had borrowed from a bank to cater for my children’s school fees needs with the hopes that a business I
The importance of labor in Marx’s theory Abstract In the context of capitalism, various perceptions have been brought out by Marx in his research on how the human labor has been created into a commodity, exploited and made use in creating a surplus. There are various forms in which labor can be perceived in the
King Abdullah Economic City King Abdullah Economic City is located on the Red Sea at the coast of Saudi Arabia but it is still under construction. However, some parts have been completed and are operational. Launched in 2006 to promote economic diversity in the Kingdom of Saudi Arabia, the King Abdullah Economic City has six
Impacts of Education and Health System in Economic Development of China It is believed that in the course of development of a county, few sectors or process are tangled and come into play, like economic development and human capital amassing. Education makes employees more productive and informative thereby speeding the development of new technologies that
Marxian Economics Introduction Karl Heinrich Marx- philosopher, economist, historian, and journalist- was born in Prussia on May 5th, 1818 and was the third child in a family of nine (BBC, 2014). He was born to Henrietta and Heinrich Marx with the latter being a successful lawyer (Burke, 2000). Marx’s dad was a passionate activist for
The importance of labor in Marx’s theory Abstract In the context of capitalism, various perceptions have been brought out by Marx in his research on how the human labor has been created into a commodity, exploited and made use in creating a surplus. There are various forms in which labor can be perceived in the
Abstract In the context of capitalism, various perceptions have been brought out by Marx in his research on how the human labor has been created into a commodity, exploited and made use in creating a surplus. There are various forms in which labor can be perceived in the industry. the analysis of this paper reveals
Comparing and contrasting the economic conditions of the Great Depression and the 2007–2009 U.S. recession Introduction The Keynesian economic theory is among the most common theories in economics. This theory was first developed by Keynes who in response to the great depression argued that free market could not provide full employment during economic recessions. The

Sample Essay on Japan Automobile

Executive Summary The British automakers have historically experienced dark years of decline, which saw some of the leading brand names in the industry being sold in the overseas markets. Nonetheless, the auto industry in Britain is beginning to stage a comeback with names, such as Nissan, Toyota, and Honda. During this period, the Japanese automobile
Economic growth in Canada Introduction Economic growth can be defined as the increase in the actual market value of services and goods over a particular period of time in an economy taking into account the effect of inflation. It is measured by calculating the percentage rise in the gross domestic product (GDP). Gross Domestic product
Capitalism and Socialism When analyzing different economies, it is paramount to consider the level of government interference I that particular economy. The reason is that the level of government interference will determine whether an economy is a capitalist economy or a socialist economy. In this article, therefore, the differences between these two types of economies
Journal article 2 Vespestad, May Kristin. 2010. “Tour Operators’ Insight into the Russian Nature-Based Experience Market.” European Journal of Tourism Research 3 (1): 38-53. http://search.proquest.com/docview/89200831?accountid=1611. Abstract There exists a constrained view of the impact of tour operators on potential new tourist markets. The idea of nature- based tourism is also often viewed from conflicting angles especially when
Article Review Review of “A Non-Cooperative Equilibrium for Super games” By: James W. Friedman Abstract: Nash has been useful in the generation of non-constant sum games. He came up with the non-cooperative solution and the non-cooperative equilibrium concept. The non-cooperative solution is a generalization of the minimax theorem for two persons zero sum games and
Inefficiency Caused by Title IX Law in Troy University Athletics Introduction Gender equity has been one of the subjects of discussion both in the education sector and beyond. In education for instance, gender inequality was prevalent in the periods prior to 1972 (Brooke, 1979). With the introduction of Title IX however, the educational institutions have
Introduction A healthcare system is also termed as a health system and it is the organization of the persons, institutions and resources which are concerned with provision of health services to solve the health issues of the target populations (American Hospital Association, 1988). The working environment can differ from the hospitals, community health and clinics.
Abstract: Nash has been useful in the generation of non-constant sum games. He came up with the non-cooperative solution and the non-cooperative equilibrium concept. The non-cooperative solution is a generalization of the minimax theorem for two persons zero sum games and Cournot solution (Friedman 1). The non-cooperative equilibrium concept is applicable to super game. This
Capitalism and Socialism When analyzing different economies, it is paramount to consider the level of government interference I that particular economy. The reason is that the level of government interference will determine whether an economy is a capitalist economy or a socialist economy. In this article, therefore, the differences between these two types of economies

Sample Essay Gender Pay Gap

Gender Pay Gap According to a research by The University of North Carolina, in the United States (U.S) economy, almost half of the middle class working population is made up of females. Additionally, for the last two decades women have received more academic credentials than their male counterparts. However, full time working female earns an
Abstract: Nash has been useful in the generation of non-constant sum games. He came up with the non-cooperative solution and the non-cooperative equilibrium concept. The non-cooperative solution is a generalization of the minimax theorem for two persons zero sum games and Cournot solution (Friedman 1). The non-cooperative equilibrium concept is applicable to super game. This
Inefficiency Caused by Title IX Law in Troy University Athletics Introduction Gender equity has been one of the subjects of discussion both in the education sector and beyond. In education for instance, gender inequality was prevalent in the periods prior to 1972 (Brooke, 1979). With the introduction of Title IX however, the educational institutions have
The Market Revolution The United States underwent a period of economic growth between the year 1820 and 1860. The transformation was brought about by changes in the economy, technology, and social conditions. At that moment, immigrants and Slaves were the main sources of labor as compared to the times before that. In regard to economy,
Why a Supermarket in the Neighborhood Extended its Business Hours Until late last year, most supermarkets in the Caseville area operated between 9 o’clock in the morning to 6 o’clock in the evening. Any person who wanted to buy a product, say, at 8 pm had to drive to a hypermarket located about 7 miles

Sample Research paper on Adam Smith

Adam Smith Modern economics cannot be discussed without mentioning and recognition of Adam Smith. In his days as a philosopher and an economist, Adam Smith made a huge contribution to the existence of economics and the definition of what is considered to be modern economics. He is also believed to be the man behind the
Economics Types of Unemployment The types of unemployment are classified based on their causes and effects. Towards this end, four types of unemployment are discussed below: Frictional unemployment. This refers to the period when an individual is switching jobs, or is between one job and another. Frictional unemployment happens due to a discrepancy between jobs
How Low Price of Oil Affects the Economics of Saudi Arabia Introduction Saudi Arabia has been producing oil irrespective of drops or rises in its prices on international markets. Specifically, oil was previously sold for 115 dollars a barrel, but now it is between 40 and 50, and Saudis are doing nothing about it despite
China Foreign Exchange Market China exchange market has undergone massive development through various phases. The primary currency, renminbi or yuan is used in the foreign exchange market, and for many years, the static system was favored over the new managed floating system (Yuqing, 2006). Historically, the days when the exchange method was pegged on the