We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Principal of economics - Essay Example

A few industries dominated the economy and working conditions deteriorated as cities grew so fast to guarantee decent housing. Technology The growth in technology advancement was stimulated by the needs of war. The civil war, therefore, enabled increased utilization of iron, electric power and steam. These developments facilitated the advancement in science and innovation. Before 1860, more than 36000 patents had been granted, and after thirty, years later 440, 000 patents were granted. The number of patents increased to million by the first quarter of the 20th century. In 1844, Samuel F. B. Morse has invented the electrical telegraphy.
Morse improvement in electrical telegraphy enabled continents to be linked by a networked pole and wires. Alexander Graham Bell invented a telephone device in 1876. Graham would with half a century enable manufacturing of sixteen million telephones that quicken social economics of the nation. The economic growth was later boosted by the growth of business due to the invention of a typewriter in 1867, and the adding machine in 1888 and cash register in 1897. In 1886, the linotype composing system was invented, and a rotating press folding machine enabled printing of 240000 of eight page newspapers in not more than an hour. Thomas Edison’s contribution enabled to lit millions of homes with incandescent lamp. Edison together with George Eastman developed the talking machine. The utilization of science enabled a new set of economic productivity. The advancement

Check these samples - they also fit your topic

Principal-agent theory provides definitive answers to how ownership and control problems should be overcome in particular firms
Principal-agent theory is a model based in economics that monitors the means entailed in the dealings between a buyer (principal) and seller (agent). This interaction has been widely used in the political sphere primarily in studies of the US Congressional system (Cohen, 1).
7 pages (1750 words)Essay
Interview a principal
While a variety of solutions have been proposed to these issues, one of the most prominent in improving student education. This issue is both a macro-governmental concern and a micro-concern within the thousands of schools throughout the nation. On a regional level it becomes the responsibility of administrative officials to ensure that students are prepared for competition in the contemporary world.
3 pages (750 words)Essay
Economics Purchasing a house is an economic decision that requires rationality. A decision to purchase the house can therefore be analyzed using the principals of economics. Reaching an appropriate decision on whether to purchase a house depends on the implications of the principals of the ten economic principals.
5 pages (1250 words)Essay
Managerial Economics
Moreover, employees of an organisation are motivated with incentive systems in order to perform their respective operations in an effective manner. Incentive systems are required to be designed in an efficient manner as well as in accordance with the preferences or requirements of employees of an organisation for the motive of fulfilling organisational goals.
8 pages (2000 words)Essay
Principles of Economics
Also, the opportunity costs lost by alcohol abusers are vast and make up to millions of dollars. The costs of alcohol abuse include the costs of health, treatment costs, and premature deaths (Cook, 2002). Therefore, addressing alcohol abuse is a vital task for economist.
4 pages (1000 words)Essay
Later on, these theories attracted the attention of various other economists and thinkers around the world and became known by the name of Keynesian economics. The vibrant personality of this economist was a combination of his intellect, sharp mathematical skills and strong deducing capabilities that helped him to assess the future consequences of the present economic activities taking place in an economy.
5 pages (1250 words)Essay
For example: a company that has a total number of 50 employees was able to produce as much as 100 bags/week from its usual production of 80 bags/week is said to have successfully reach economies of scale. Another way of looking at economies of
8 pages (2000 words)Essay
The US Federal Reserve Board has no explicit remit. In practice, it seems to take much more account of output than either the Bank of England or the ECB (Balls, & ODonnell,
7 pages (1750 words)Essay
Business Economics (Principal Agent Theory)
While looking at the core of the several factors, which affected the global financial crisis of 2008, it seems surprising at the indebtedness of the most refined banks of the world and their dependencies on mortgage supported securities and debt obligations. As
8 pages (2000 words)Essay
Ethical Principal
If someone carries out good deeds with the intention of have goodness for his own self at the end, there is reason enough to believe that the goodness aspect would surely culminate in a better
1 pages (250 words)Essay
in technology concurrently grew with the nations iron and steel industries. The steel age Andrew Carnegie brought much alms to the steel production. Andrew came to America as a young boy, 12 year old and before the age of thirty he had farsighted investments in the iron industry. By 1865, Andrew has invested in companies that made iron bridges, locomotives and rails. After ten, years, Andrew built one of the largest steel mills in Monongahela River, Pennsylvania. He acquired control of the mill, coke and coal properties. He commanded businesses in shipping lines and railroads. His investment steered the industrial development that was never seen there before in America. Nevertheless, Andrew never controlled entirely the natural resources, manufacturing plants and transportation that were involved in the steel industry. In 1890s, other companies emerged and challenged Andrew preeminence. Later, he was persuaded to consolidate all his holding in order to create a new corporation that would control the massive iron and steel properties. Emergence of corporations and cities The rise of corporations began at the time of the civil war. The trend would be later gain momentum in 1870s, when businessmen feared the fall of prices as production increased. To counter declining prices due to overproduction, they had to control production and the market. This involved bringing competing firms together into a single organization. This led to the formation of the corporation and trusts to achieve this objective. Corporations enabled business enterprises to make enormous profits ensured an indefinite life and continuity of businesses. This attracted investors because of high profits and limited liability. The investors of stock placed their stocks on the hands of trustees. The trust there after gave way to the establishment of holding companies. Amalgamation of trusts enabled the pooling of resources and patents. One of the earliest corporations was


The America economic expansion came of age between periods of two wars. It is in between the civil war and the 1st world war that tremendous economic revolution took place. The Gilded age is the time that America moved from a rural nation to an urban nation…
Author : jacepaucek
Download 0
Principal of economics
Read TextPreview
Comments (0)
Click to create a comment
Let us find you another Essay on topic Principal of economics for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us