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Economics
Economics
5 pages (1250 words)
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... 31 October 2006 Economics Provide a perspective on a requirement for economic growth. Economic growth is generally measured as either an increase in real output or an increase in real output per capita. In a nation, economic growth increases material abundance and raises a nation’s standard of living. Six factors are considered determinants of economic growth: the quality and quantity of human resources; the quality and quantity of natural resources; stock of capital facilities; technology; level of aggregate demand; and economic efficiency. Any improvement in the aforementioned factors will bring about economic growth. However, this section will only take a look at the effects of the technological...
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Economics
Economics
2 pages (500 words)
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... Head: Concentration Ratio Concentration Ratio and Industry Structure Number of firms Four-Firm Concentration Ratio Describe type of industry structure 20 30%  Monopolistic Competition 20 80%  Oligopoly Four firm concentration ratio is defined as the market share as a percentage of the four largest firms in the industry. In other words, it is defined as the percentage of market output generated by the four largest firms in the industry (Hay and Morris, 1991). If the four firm concentration ratio is below 40 percent, the industry structure can be said to be monopolistic competition. If it is above 60 percent, the industry structure can be said to be oligopoly. 30 % CR means the four largest firms pro...
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Economics
Economics
3 pages (750 words)
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... 15 April 2008 Coffee at Starbucks: An Economic Commentary The article written by Jennifer Ordonez looks at how the specialty coffee shop Starbucks copes with the stringent competition in the global café sector. The company has long enjoyed hegemony in the industry because of its marketing strategy of creating a third place for consumers to linger and socialize next to home and workplace. Through the use of marketing techniques, Starbucks is able to capture the upscale market and sell a cup of coffee for a high price of $2 or more. Marketing has been an important tool for the business organization as it mainly draws customers through its image of conveying the “Starbucks experience” (Kotler and...
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Economics
Economics
2 pages (500 words)
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... and Number Economics Part A When the price of a product falls below the equilibrium price, this creates a marketwhere, because the manufacturer or producer are putting out less of their product/merchandise, the demand exceeds the supply. When demand exceeds the supply, there becomes a shortage of the product, and this shortage creates significant competition between consumers. Often times, because of this shortage and the high competition between consumers, prices for the product will be raised in order to maximize profits. On the other hand, if the price of a product is above the equilibrium price, the manufacturers or producers have too much of their product out on the market. This creates a surp...
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Economics Definition
Economics Definition
8 pages (2000 words)
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... Adam Smith defined Economics as science of wealth. Economists define wealth as one that has “Value in use” and “Value in exchange”. Economics is the study of how wants are satisfied and decisions made when faced with limited resources. The study of economics is concerned with how people get the goods and services they need and want. Economics also focuses on money - how it is made, lost, used and misused. Adam Smith was considered to be one of the first one’s to study the historical development of industry and commerce in Europe. His ‘Inquiry into the Nature and Causes of the Wealth of Nations’ was one of the earliest attempts to study the economics part. This work helped in creating the modern...
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Positive Economics
Positive Economics
3 pages (750 words)
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... Friedman, in his essay The Methodology of Positive Economics, argues that the seeming lack of objectivity in economics, and its inability to test its hypothesis accurately are not due to any foundational problem at its core, but rather on the methodological measures that economists apply in testing their theory (1966, pp. 15-16 and 39-13). He argues that it is through a reassessment of these elements that economists can produce theories that "yield valid and meaningful predictions," appropriately achieving its goals. In line with Friedman's arguments, this essay argues that assumptions, as a crucial component of economic theories, need not capture reality as it is, but instead must only be...
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Economics
Economics
4 pages (1000 words)
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... 20 April 2007 Economics a. The Fed fund rate during the economic crisis in 1973-1975 ranges from 5.54% to 12.92%, in 1980 this level escalated from 9.03 to 17.61. The recent recessions at 1990-1991 Fed fund rate levels dipped at 6.12 to 8.20 and further dropped at 2.09 to 5.31 during 2001. The level of Fed fund rate is primarily influenced by the monetary policies put in place by the Federal Reserve from money-supply targeting to inflation targeting. Also, the periods of recent recession are much shorter than the previous ones. This is justified by the easier recovery of a service based economy than the manufacture oriented one. b. The Fed fund rate averages at 7.10% during the 1970s, 9.97% during t...
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Labor Economics
Labor Economics
4 pages (1000 words)
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... Introduction Feli seemed to be at work when the first formalization of economic thought happened during the Industrial Revolution. In 1776, Adam Smith published his greatest work, “Wealth of Nations” which first proposed that a wealth of a nation is derived from its capacity to organize its factors of production such as land, labor, and capital - far from the accepted idea of the time that only agriculture was productive or a nation’s wealth was the amount of treasure that a sovereign might store in its coffers. More importantly, Smith advanced the idea that the wealth of a nation is due to the contribution of those who do the work, which is still applicable today as it was over two centuries ago....
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Economics essay
Economics essay
5 pages (1250 words)
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... and Our Life Economics is defined as the social science that studies the production, distribution, and consumption of goods and services. (wikipedia.org/wiki/Economics). Economics basically studies money. It closely observes even the very minute fluctuations in money market. Of course, different aspects come under its purview. Markets, monetary policy, inflation, deflation etc, are a few. No doubt, money has key role in quality of life and development in all spheres of life. And hence, Economics gets an all-important slot everywhere. Nation wise or even internationally all important policies and decisions anchor upon Economics. Whether it's war policy or food policy, Economics plays a role in it. It'...
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Japanese Economics
Japanese Economics
9 pages (2250 words)
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... Economics Introduction The Japanese economy can be traced back to World War II. After this period, many structural changes helped transform the Japanese economy. This was necessary because Japan had undergone through war that saw its economy near collapse. These changes in policies were through interaction with America, international market, social mobilization (Ohno, 2006). At the time of war, there was a rapid growth in Japanese economy. This period saw a rise of manufacturing industries due to materials necessity for the war. Such industries included the automobile industry. Once the war was over, most of the technologies and companies were converted to peaceful economic development (Ohno, 2006). ...
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Economics
Economics
3 pages (750 words)
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... Economics Introduction Federal funds refer to the immediate borrowings by the banking s to keep the bank reserves stable which is conducted by controlling the federal funds rate (Thornton, 2007). The objective of this paper is to identify the influence of the fluctuations in terms of federal funds rate upon the demand in an economy, the trend of money supply and the stock market along with the interest and spending as well as interest and investment related aspects. Explanation The changes in the federal funds rate have been widely identified to lead towards a certain chain of events that in turn has significant effects on various interest rates and economic variables, such as interest rates,...
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Economics
Economics
2 pages (500 words)
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... and the Economy Economics devolves around the basic concept that while the resources available to a society are limited or ‘scarce’ the needs for these resources are almost unlimited. The question that needs address is how these resources are used and which needs given priority. Therefore, the basic decision that needs to attention is what to produce, how to produce, who will produce, who gets the product. This report looks at the question of the ‘who will produce’ aspect defined here. Government, in its role of economic regulation and policy definition, has two options that define the extreme conditions, or a judicial mix of the two strategies. The first situation is the traditional ‘capitalist’ app...
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Whats economics
What's economics
2 pages (500 words)
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... is an important area because it relates to matters that affect the entire nation and everyone in the nation. Economics is defined by Lionel Robbins as the study of the use of scare resources that have alternative uses (Sowell 3). This means that economics studies how individuals, groups and nations use their resources to achieve the best results. Economics is the study of choice under the conditions of scarcity (Hall & Lieberman 1). This implies that economics is the study of how to make the best choice when faced with one has limited resources. Hall and Lieberman (3) state that there is a fundamental problem with human beings in this world and that lies in the fact that we have unlimited wants alth...
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Economics
Economics
4 pages (1000 words)
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... Head: [short [institute of affiliation] Explain the different viewpoints ical and Keynesian economists. How did the economy that existed at the time these theories were developed influence these theories? Which theory seems to be more appropriate for the economy today? In a closed economy, goods or the outputs can be at market equilibrium, in which case the quantity of the goods produced equal the quantity of the goods demanded. While the output of the economy can be at market equilibrium, the high level of unemployment can be traced back, not from the demand-supply equilibrium in the wage market as classical economists argue, but because of lower aggregate demands which, as Keynes argues, leads to l...
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Economics
Economics
2 pages (500 words)
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... Whats the relationship between cost and productivity? In economics, cost and productivity are highly related to each other. Cost can be defined as“the burden sustained in order to perform a certain activity, to carry out certain production, or to achieve certain goals” (Piana 2003). For a business organization, costs can be categorized as actual, discretionary, and the economic concept of opportunity cost. On the other hand, productivity typically denotes how well companies convert input resources into specific outputs. Productivity often comprises three components namely, increased production volume, improved services, and reduced costs. Thus, for each of the input employed in order to produce a...
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Micro economics
Micro economics
4 pages (1000 words)
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... behavior literally means how the consumer behaves. However, it has different meanings in marketing and in economics. In marketing, consumer behavior is defined as the study of the buying units and the exchange processes involved in acquiring, consuming and disposing of goods, services, experiences and ideas (Mowen & Minor). Consumers go through a series of decision making steps once the need is identified as shown below: The economic approach to consumer behavior delves into consumer demand analysis. The Theory of consumer demand is the analysis of demand with regard to consumer behavior and rationale when changes occur in variable factors such as price, income and substitute goods. Choice and reveal...
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Monetary Economics
Monetary Economics
8 pages (2000 words)
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... Head: MONETARY ECONOMICS Monetary Economics of the of the Monetary Economics People in underdeveloped countries are hauntingly reminded of conditions in less developed lands, while people in the less developed countries are continually exposed to the relatively affluent style of living in the developed nations (Alpert, 2007, 118). This precipitates studies in monetarty economic development, which has been variously defined at various points of time. But, essentially, monetary economic development is a complex historical process, in which monetary economic and noneconomic factors are closely interwoven. It can be best defined as the exploitation of all productive resources by a country in order to...
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Managerial Economics
Managerial Economics
7 pages (1750 words)
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... Managerial Economics Introduction Managerial economics refers to a field of study that utilizes micro economics concepts in making managerial decision. Additionally, managerial economics utilize the concepts of supply and demand in making analysis of consumers and suppliers behaviours as they interact with each (Stengel,2011). Managerial economic further explore the behaviour of consumers and producers as well as their impact to the economy. In above connection, managerial economics takes into consideration not only micro economic concept but also some components of macro economics. This is because organizations do not operate in isolation but rather they interact with external factors (Png and...
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Economics
Economics
1 pages (250 words)
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... Agreement Types Affiliation: Q Trade agreements play an influential role in the global political economy. They enhance domestic, regional, and international relationships among trade partners at every level of a given trade agreement. There are six main types of trade agreements, namely: free trade treaties, customs union, customs preference agreement, economic union, common market, and political integration (Carbaugh, 2012). In free trade treaties, two or more countries come together to eliminate barriers to trade, which are customs and/or non-customs in nature. Under customs union, member countries engage in free trade while maintaining a uniform tariff policy for trade activities involving...
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Economics 5100
Economics 5100
2 pages (500 words)
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... History of Economic Thinking Economics is the science of studying the characteristics and behavior of production, development and management of material wealth and products in a country, business or even a household. It has been studied and developed over time leading to the development of theories and topics over the same from the dawn of time. There are those who found ways of improving and developing economic states of regions and there those who have been against its advancements. This paper shall therefore look at the history of economic thought including economists involved in its advancements and the marginalism that emerged. Economic thought began long ago in history with Greek philosophers s...
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Austrian Economics
Austrian Economics
15 pages (3750 words)
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... Austrian Economics Contemporary Austrian economics has nothing much to do with Austria. Carl Menger (1976) shed some light on the dynamics of Austrian economics in his book: ‘Principles of Economics’. The first objective in Menger’s mind was to fix the theory of production cost value due to which the classical economics had been inflicted since Adam Smith. Menger observed and then explained the real fluctuations in the commodity prices while working as an economic journalist in Vienna. The commodity prices are based upon their marginal contribution as they fulfill the desires of the individuals (Jaffe, 1976). The second prime objective of Menger was to prove that this explanation of...
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Buddhist Economics
Buddhist Economics
1 pages (250 words)
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... Buddhist economics The ‘Right to livelihood’ is a religious requirement in Buddhism as it is in Buddha’s Noble Eightfold Path. In this case, economics is a common concept in the Buddhist religion. Buddhist countries have embraced the connection between the economy and modern technology. This makes then agree in concept and ideology on economy. Similarly to modern economist, Buddhist economists believe in wealth as an outcome of human labour (Schumacher, 1). However, the current economic concepts consider human labour to be an item of cost rather than a building factor of wealth. In this case, it is ideal to reduce human labour or get rid of it completely. Modern economist relies on the concept of ...
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Economics
Economics
6 pages (1500 words)
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... s Gypsum Company and Antitrust School Management of trade is not a modern concept rather; it is a concept that has been practiced even during ancient times. Today, with the many innovations coming out in the market, competitions are tight. Amidst this strict competition and the desire of every entrepreneur to succeed come the unnecessary practices of business people. Thus, the law seeks to protect free and honest trade, maintaining a high quality service from business people and satisfied consumers. These needs initiated the birth of the antitrust policy which will be discussed in part as we go through the case of the United States gypsum manufacturers. Looking at the antitrust policy, is it indeed...
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Economics
Economics
6 pages (1500 words)
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... how is everything with the assignment? I would be grateful if you could please clarify confusions I have with the assignment 1st draft: please see my comments below please: No reference for (Roberts, 2010). Included. New paragraph for quote needed? You may create a new paragraph, of course, if you so wish, although it is not necessary. They pursue the same theme and idea. liberal economists to private-interest politics (Shughart, 1988; Macey, 1984). “The public-interest arguments for the separation of commercial and investment banking are weak and appear unable to explain the passage of the Banking Act” (Tabarrok, 1998, p. 16). No reference for “too-large-to-fail” “Too large to fail” is an expre...
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Macro Economics
Macro Economics
4 pages (1000 words)
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... Head: Macro Economics Macro Economics Macro Economics Question The determination of the level of GDP (Gross Domestic Product) in the short run is determined by the model developed by John Maynard Keynes. This model works on the basic premise that the level of production in the economy depends upon the level of aggregate demand. (Sloman, 2006) Keynesians believe that if left to the market forces there is no guarantee that the economy will achieve a full employment level of GDP. They argue that instead when left on its own economy may not function as required and may result in high levels of unemployment. Therefore, to control this it is important for the government to intervene. If there is high...
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Healthcare Economics
Healthcare Economics
2 pages (500 words)
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... Economics Affiliation Healthcare Economics Why is it easier to measure the effects of smoking on individual’s healththan it is to measure the effects of anti-smoking campaigns on health? Be sure to discuss the idea of medical care as derived demand. Before we discuss the idea of medical care as a derived demand, someone has to define the word of “Derived demand” properly. The word defines a term in economics, as demand for one good or service happens as a result of the demand of another good or service (Mankiw, 2011). The demand for the former results the production of the second. For example, if coal is demanded that leads to a derived demand of mining, as coal must be mined for coal to be consumed...
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Economics assignment
Economics assignment
1 pages (250 words)
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... Economics Assignment Limit Pricing: It is an exploitive pricing strategy imposed by a firm to make a market unprofitable for other interested players, as the prices set for the products are lower than the production cost (Hirschey 564). Economics of Coupons & Rebates: It is a strategy, which attracts product consumers to make frequent purchases in order to benefit from the discounts or additional units provided (p. 565). Cross-subsidy Pricing: It is an exploitive strategy, which allows a firm to acquire its target profits by charging different prices to its consumers without their knowledge because of the reduced level of transparency (p. 565). Creaming or Skimming Price Policy: Product innovators...
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Macro Economics
Macro Economics
2 pages (500 words)
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... Economics Keynesian economics provided explanation for the problem of the Great Depression. The Great Depression of the year 1930 was the effect of the failure of aggregate demand in the economy according to Keynes. The loss of the confidence of the investors in the economy resulted in the fall of the market prices of stocks along with the subsequent fall in the investment purchases. The consumption expenditure of the society experienced a downfall through the multiplier effect. The firms in supplying goods and services are motivated by spending. The pessimistic attitude of the customers and the investors results in less spending in the economy. The focus shifts from expenditure to save more of the...
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Healthcare economics
Healthcare economics
2 pages (500 words)
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... HealthCare Economics Ensuring a healthy and working population, is the priority of governments all around the world. Governments formulate health policies according to economic performance. Countries that perform relatively well economically have better health policies compared to countries with below average economies. Healthcare economics essentially entails formulating policies, which are capable of catering for the present and future healthcare needs. In Henderson’s book, “Health Economics & Policy” he writes about “Medical Care Reform in the United States,” in the 15th chapter of the book. This paper will compare and contrast healthcare policies of two countries mentioned in the book’s 15th...
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Economics
Economics
3 pages (750 words)
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... Gross domestic product (GDP) is the market value of all of the goods and services that are produced by labor and are located in whatever given region it is created in, in each given year. These prices are expressed in base-year prices. Real gross domestic product, quite unlike regular gross domestic product, accounts for any and all changes in the price levels and provides a more accurate figure than the regular gross domestic product. The unemployment rate is used in economic studies to determine those of the labor force that are without jobs. These rates are monitored and patterns are formed depending on the changes within the rate; those that monitor the rate trying to detect and understand the ...
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Economics
Economics
4 pages (1000 words)
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... Economics New York Times d March 30, published an interesting article Inequality Is Most Extreme in Wealth, Not Income, written by CATHERINE RAMPELL in its economics section. In this article the author’s main argument is that most of the income gains over the last few decades have gone to the very richest Americans. I strongly agree with the views of CATHERINE RAMPELL and this paper is written favor of the views and opinions of CATHERINE RAMPELL which are expressed in the above article (Rampell) The above chart clearly shows that around 21 percent of income was received by just 1 percent of earners. In other words, 1% of people in America controls more than 1/5 th of the total income generate in...
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Economics
Economics
4 pages (1000 words)
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... Head: [short [institute of affiliation Demonstrate, using supply and demand analysis, the impact on the equilibrium price and quantity of new mid-size automobiles when household incomes increase. When household incomes increase, there is increase in overall demand, therefore the demand curve shifts to the right. This shift in the demand curve to the right causes the equilibrium to settle into both higher price and higher quantity. Household incomes are a factor in influencing demand. Because the increase in household incomes signifies an increase in the purchasing power among consumers, for every price level of automobiles, households will demand a greater quantity. The increase in purchasing power ...
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Naked Economics
Naked Economics
3 pages (750 words)
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... has been large chunk of studies on deep economics. In Charle's Wheelen's book Naked Economics, he presents another face of economics for the ordianary people, who are not well with the complexities and figures and graphs of conventional economic studies. He is successful in this by including a lot of vast subjects in it. This work covers the role of government, financial market, international trade, free markets and labour. Wheelen as he claimed it is walking through some of the most powerful concepts in economics while simplifying the block or simplifying them entirely. Wheelen has stressd the importance of innovation in his opening chapter. He says that trade is like innovation. Imagining larger g...
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Micro Economics
Micro Economics
4 pages (1000 words)
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... Economics Introduction The renunciation of social judgment allowed for little basis to measure social welfare. The only support that continued appeared to be the Pareto principle. According to Pareto (1896-p.97), “social welfare was increased by a change that made at least one individual better off, without making anybody else worse off.” From this rationale economists have deduced the conceptions of Pareto improvement and Pareto optimality which is otherwise know as Pareto efficiency. A condition is believed Pareto-optimal if it is not possible to make additional alterations that meet the Pareto principle. Pareto principle According to the Pareto principle social welfare definitely augments only if...
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Financial economics
Financial economics
8 pages (2000 words)
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... Price and Weak Form Efficiency: Finland Stock Market (FSE) Part One: Introduction This paper tests, with regards to Finland`s Stock Exchange, how market prices exhibit weak-form efficiency. This paper is organized in four parts. Part two describes the test design. Part three discusses the paper`s findings while part four is a reflections of the findings and recommendations of the paper. According to studies, like Ferris (2013) the concern as to whether a market can be termed as efficient or not is purposeful only when considered in relation to the types of market information. Investors who own few securities expect to upsurge their returns in years to come. Most investors as well as investment...
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Economics
Economics
6 pages (1500 words)
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... Economics Economics Introduction At its core, the price of zero, which is also referred to as the zero-price effect, refers to an observed theory that holds that decisions regarding free products are quite different. This difference emerges primarily from the fact that people do not merely subtract costs from the benefits they receive from a good or service, but rather perceives the benefits linked to free products as significantly greater. The implications of the price of zero are exemplified by the inclination to consider zero as acting as a special price, which in turn results in overreaction to free products and services as though zero price instantly denoted increased value. The price of zero...
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Economics
Economics
2 pages (500 words)
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... Economics Thesis ment A single policy change such as ‘minimum wage’ could result to economic problems. Introduction Lasting for two years, the Congress voted an increase in the federal minimum wage from $5.15 to as much as $7.25 – a 40% increase. According to Kane and Kim (2007), the Congress should take note that a minimum wage is a price control on labor that restricts economic freedom as a whole. (Kane and Kim, 2007) Increases its minimum wage could eventually result to a reduction in America’s labor freedom from 92% down to 87%. The journalists added that in a free market, companies needing more manpower simply increase the wage offering to keep up with the increase in demand for goods and servi...
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Introduction economics
Introduction economics
7 pages (1750 words)
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... HEAD: Introduction Economics Introduction Economics of Answer to Question The free-market economy does functions automatically in allowing the use of markets and prices to coordinate and direct economic activity in allocating resources (Nicholson and Snyder, 2008). Each individual is assumed to be acting rationally in his or her own self-interest in order to maximize satisfaction. However, there are unintended consequences in practice such as great inequality and adverse environmental consequences in economies because of differing abilities, education and training, discrimination by companies, wealth inequality, and different market power (McConnell. and S. Brue, 2005). That people have different m...
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Economics
Economics
2 pages (500 words)
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... When I took vows as a president of USA, the nation was facing consequential global challenges. 18 out of the 20 initial public offerings took place out of the country. The country was undergoing its worst crisis. The unemployment level was expected to reach 9 percent, which was presently at 7.6 percent, the highest in the last 16 years. The disappearing jobs and the devaluation in the home prices had compelled the consumers to cut down on their costs which adversely affected the labor market as the business laid off their workers to reduce costs, eventually making the country enter into a vicious downward cycle. (Anderson and Cavangh, 2004)  The unemployment rate accelerated from 9.7 percent to 9.8...
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Economics
Economics
1 pages (250 words)
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... Discussion Questions A. Create and post an informational sheet that briefly discusses each of the following topics: Dependent and independent variables In a research, an independent variable refers to factors that are manipulated or varied by researchers whereas dependent variables are the response or measurements to identify the effect of independent variables. Why variables need to be measured Measurement of variables is a process of assigning numbers in order to indicate the amount of the variable present to enable easy understanding by researchers. Interval measures, nominal measures, ordinal measures, and ratio scales Interval measures are figures giving distance between attributes while nom...
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Managerial economics
Managerial economics
2 pages (500 words)
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... Questions Inserts His/Her Inserts Grade Inserts 7th June, Overview 5) Hire insurance rates would net agents a lot of money for agents and the reverse applies to low insurance rates. Short run refers to the short period when the insurance is covered i.e. at the commencement of the insurance policy. In the short run, the insurance broker/agents get paid for selling policy hence a lot of money is made (McConnell 82). While, the long run is the overall period till the period comes to termination. The long run has the disadvantage that the insurance policy might come to an end or the insured is compensated before the insurance term ends. 6) Firms competing in a perfect competitive market industry in most...
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Reagans Economics
Reagans Economics
1 pages (250 words)
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... Politics & Economics Ronald W. Reagan, who succeeded Carter, was the 40th President of the United s of America and ruled from 1981-1989. Due to his charismatic leadership and robust policies, he is known as one of the supreme leaders and has been crowned for bringing conservatism to the country. He put the entire nation to the right track by taking some drastic decisions. The core of Reagan’s economic policies was based on “Reaganomics”, which is also known as trickle-down economics. The crux of the policies covered the following four economic aspects: (i) Reducing government expenditures, (ii) Lowering taxes to boost savings & investment, (iii) Reducing federal regulations, and (iv) Managing money...
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Environmental Economics
Environmental Economics
3 pages (750 words)
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... Environment and the economy Article Review Managing aspects of the economy and environmental conservation have received tremendous attention from the media and researchers globally owing to the importance of environmental conservation and its impacts on human life. One of the issues relating the economic situation and the environment is the increasing amount of food waste. This paper aims at reviewing an article in The New York Times on food waste and its economic and environmental impacts to provide an evaluation of the role played by economics and the extent of efficiency in which the author tackled the issue. The article, Food Waste Is Becoming Serious Economic and Environmental Issue, Report Say...
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Economics Assignment
Economics Assignment
4 pages (1000 words)
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... Assignment Table of Contents Introduction 3 Definitions 3 of the Problem 4 Real World Scenario 5 Conclusion 5 References 6 Frank, R. H. & Bernanke, B. S. (2006). Principles of Economics (3rd Edition). New York: McGraw-Hill. 6 Mankiw, N. G. (2008). Principles of Economics (5th Edition). USA: Cengage Learning. 6 Poterba, J. M. (1999). Tax Policy and the Economy. USA: MIT Press. 6 Toole, R. (2007). The best-laid plans: How government planning harms your quality of life, your pocketbook and your future. USA: Cato Institute. 6 Bibliography 6 Sloman, J. (2006). Economics (6th Edition). London: Prentice Hall. 6 Introduction Market forces help to decide the equilibrium price and quantity to be supplied of a ...
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Labour Economics,
Labour Economics,
4 pages (1000 words)
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... Labour Economics Contents Contents 2 Introduction 3 Discussion and Analysis 3 Conclusion 6 References 7 Introduction Education is an indispensible part of social activities of mankind and in most of the countries of the world, the elementary and higher education are financed by the government. Unless the people of a country get educated, the country cannot grow and develop because the essential skills and expertise that the trained and educated people develop contribute to the national product of the country. Thus the policy makers of a country should be aware about the educational scenario and how the system can be run efficiently so that the country can develop a host of skilled labourers and...
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Experimental Economics
Experimental Economics
4 pages (1000 words)
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... economics: and of the Experimental economics course is very essential in economics. The course tests and gives validations on the efficiency of economic theories taught to a student in the economics field. The project entails answering an economic question in an experimental economic class. The economic question is about an auction experiment. The question is; which are the implications of the first and the second price private value auctions? Private Value Auction Experiment will focus on answering this specific economic question, relating it to the real world situation. In Private Value Auction Experiment, students are to bid for a certain product. The students are supposed to sit in the computer l...
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Economics
Economics
10 pages (2500 words)
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... that Determine the Pricing of Airline Ticket The price of the airline ticket is the most important consideration for the flying public or to the people who are the frequent airline consumers. Understanding the process by which air travel prices are set can be so complex because it is unstable and constantly changing all the time. The price for a certain route at a certain date and point in time can be very different from the ticket price set at another time. Having the same flight and class section of the plane also do not ensure that passengers have the same cost of airfare. A study was conducted wherein the airfares were monitored by recording the amount paid by each passenger in cents per...
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Economics
Economics
12 pages (3000 words)
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... Inserts His/her Inserts Grade Inserts (01, November, Question Market Economy and Positive Investment Climate The idea of a free market is not new in economics. Market economy is an economy in which prices are set by the demand and supply of a particular commodity or service (Campbell & Stanley, 2005). In such an economy there is not government intervention and it is also known as free market system. The market system is said to be a very just system where everyone gets what he or she deserves and there are no monopolies and government control on prices. There are many reasons why market system is considered the best mechanism of allocating scare resources. People believe that market system can help...
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Economics Assessment
Economics Assessment
6 pages (1500 words)
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... Assessment Introduction This study is aimed at considering the demand and supply effect of a particular product on the market of the product over the next few years. This study actually takes into account all the microeconomic and macroeconomic factors that are likely to influence the price and output of that product over the next five years. This study considers the current, retrospective and prospective effects of the market of the product on the product in the coming years. How the price and output of the product is going to get settled in the future for the product. For a satisfactory analysis of the product's performance in the coming years, both macro and micro- economic analysis have been...
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Construction Economics
Construction Economics
8 pages (2000 words)
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... Contents Index Pages Introduction 2 2. Economic activity of Government and the Construction industry 2 3. Government Intervention 6 4. Factors affecting economics of construction industry 7 5. Price Determination in Construction Industry 9 6. Allocation of Resources 10 7. Bias in Construction Industry 10 8. Conclusion 12 Construction Economics (#509808) Introduction The economics of construction is very vital to the growth of the country’s economy. However this industry is severely dependent on the robustness of the economic cycle at that point of time. These economic cycles form an important feature of a market driven economy. When the economy is booming the industrial sector achieves maximum...
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