Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Economic principle - Essay Example

Comments (0) Cite this document
Economic Principle Table of Data   Australia USA Qatar Total population  23,298,022  313900000  2051000 GDP/capita 23945.72 USD  49965.27 USD  102700 Labour force  11639200  154839000  1320000 % of population working in agriculture  3.3  0.7  2.3% % of population working in industry  21.6  20  51.8% % of population working in service  75.1  79.3  45.7% % of population living below the poverty line  12.5  14.8  0% Exports commodities  coal, crude petroleum, copper, liquefied natural gas, iron ore, meat, gold, wool, wheat, alumina   Industrial Supplies, automotive vehicles, Consumer goods, capital goods Capital Goods and components Food and beverages  Liquefied Natural G…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.9% of users find it useful
Economic principle
Read Text Preview

Extract of sample "Economic principle"

Download file to see previous pages ers by %  China 18.2% United States 11.6% Japan 7.8% Singapore 5.9% Germany 4.6% Thailand 4.2% South Korea 4.0%  China 19% Canada 14% Mexico 12% Japan 6.4% Germany 4.7%   US 14.2 % UAE 11% Saudi Arabia 8.3% UK 6.4% Japan 6 % China 4.8% Source: Unicef, 2013 Answer 1 The percentage of population who are in the labour force has been calculated by taking the total population and the number of people in the workforce. While both in US as well as in Australia the rates of participation in the labour force are 49% for each of the countries with the rate at Australia little higher than that of the United States for Quarter the figure is much higher at 64% (Australian Bureau of Statistics, 2013). Answer 2 In case of all the three countries it has been noticed that the percentage of population in the agriculture is extremely low. This is a special characteristic of all the developed nations. As the countries move from the different stages of development the sectoral contributions of these countries would vary at each stage. This means that an underdeveloped country would have the majority of the population engaged in the agriculture. On the other hand the developing countries which have crossed the initial stage of development would have industry as the main contributor to the GDP and the maximum participation of the labour force would be in that sector. Finally the most developed countries of the world would have the maximum percentage of people working in the services sector. Thus the high percentage of people engaged in the services sector of USA and Australia, which are 79% and 75% respectively, would prove that these countries are more developed. On the other hand in case of Qatar the percentage of people in the services sector is only 45% while the industrial sector constitutes the major part of the population. Therefore Qatar can be claimed as comparatively less developed than the countries like Australia and the USA. Answer 3 The list of exports of Australia compared to that of Qatar is much longer. This is because the country does not have any agricultural produce and therefore it cannot export any agricultural goods to any other country. Petroleum and related products are the main sources of income of the economy of Qatar and the main sources of government revenue and accounts for more than 60% of the GDP of the country. Thus the resources that the Qatar Economy is endowed with are restricted to the industry and the services sector only. Even the contribution of the services sector is limited to 20% only. On the other hand, the Australian economy exports products and services that comprise of all the sectors of the economy. ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“Economic principle Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Economic principle Essay Example | Topics and Well Written Essays - 1500 words. Retrieved from
(Economic Principle Essay Example | Topics and Well Written Essays - 1500 Words)
Economic Principle Essay Example | Topics and Well Written Essays - 1500 Words.
“Economic Principle Essay Example | Topics and Well Written Essays - 1500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Economic principle

Marketing Principle

...?MARKETING PRINCIPLE Introduction Coca-Cola Company is a world leader in the soft drink industry. Being headquartered in Atlanta Georgia, the company is best known for the production and selling of Coke one of its brands. Other brands that the company produces include Fanta, Sprite, Minute Maid, Dasani water, Simply Orange brand and Fruitopia among others. Being under the leadership of Muhtar Kent, Coca-Cola enjoys large number of loyal customers an aspect that makes it attain high level of profitability and sustainable growth of its revenue. The company has established bottling partners in more than 200 countries. To ensure that all its target customers are satisfied with its brands, the company has more than 500 brands...
12 Pages (3000 words) Essay

Microeconomy principle

... + 3Qa 400= 3Qb + Qa (-3) 250 = Qb + 3Qa -1200= -9Qb -3Qa -950= -8Qb Qb= 118.75 400= 3(118.75) + Qa Qa= 43.75 Price A 250- 43.75= 206.25 Price B 400-118.75= 281.25 Total revenue PaQa+PbQb 206.25*43.75 + 281.25*118.75= 42421.9 The Quantity for each country: Qa= 250 – Pa Qb= 400-Pb References Chakravarty, SR 2009, Microeconomics, Allied Publishers, Mumbai. Mukherjee, S 2007, Modern Economic Theory, New Age International, New Delhi. Schmalensee, R, Armstrong, M & Porter, RH 2007, Handbook of industrial organization, Volume 3, Elsevier, Amsterdam.... Answers: a) First degree price discrimination refers to the type of price discrimination in which the buyer isable to pay the price the seller demands. The buyers are willing to pay the price fixed...
4 Pages (1000 words) Essay

Account principle

...? Accounting Principles Answer (A) Budget in any corporate entity serves several purposes and those can be described as per the following. a) It is an instrument to plan and deploy the resources to achieve the short-term and long-term goals of any organization. b) It is a tool to control the activities of different subunits within the organisation. c) Budget exercise is used as a tool for forecasting and it can be used to motivate employees towards the set goals. Budgetary activity facilitates the planning process of the firm in a systematised manner keeping in view the organizational goals. Budget not only helps allocate resources and set the direction of the firm but also helps determine priorities to act in a manner that can bring...
6 Pages (1500 words) Essay

Precautionary Principle

... Barrier Reef is on the World Heritage List). Reasoning his decision the judge also noted that although the Minister did not refer to the precautionary principle he did consider the issues mentioned in previous scientific studies. In upholding the validity of the Minister's decision to give the consent the judge also stated that "none of the grounds advanced for challenging the Minister's decision to give consents under the World Heritage Act has been made out" (55 FCA 1997). Fisheries Case Implementation of the precautionary principle in fisheries management in Australia primarily relies on the following principles: sustainable resource management, achievement of environmental goals, economic efficiency, and social and industry...
14 Pages (3500 words) Essay

Beneficiary Principle

Therefore, it can be safely deduced that Grant's final intention was to give the "Gatesgarth" house to Polly. The latter's failure to register the title transfer in her favor with the Land Registry is of no moment. This is so despite the provision in Section 23 of the Probate Law subsequent conveyance or any other act done after the execution of the will shall not prevent the operation of the will.
b.) No, Joe is not entitled to the shares in Smallco Ltd. It is required by law that in case of transfer of stocks or shares in a company, the same must be done by executing a stock transfer form and deliver it to the company together with the stock or share certificate for the specific purpose of transferring the name in the s...
4 Pages (1000 words) Case Study

Moral Principle

...Morality of actions is one of the important aspects of moral philosophy dealing with the way we perceive morality of the actions and their consequences. There are different approaches, which deal with how we may negotiate with different actions and their morality. However, underlying principles may be different for each approach. What is also significantly important to understand that individual and collective responses to each action and to judge that action’s moral standing is deeply rooted into the generally held beliefs of rationality of individuals and the society as a whole? This paper will present a moral principle based on the moral examples of good and bad and to make its comparison with Utilitarianism and Kant’s principles...
6 Pages (1500 words) Essay

Rhetoric Principle

...Rhetoric Principle: Invest To Avoid Dying Poor If you demand a desperate person in life from me, I will avail two; a person who is unemployed and has not ventured into business and a person who is retired and never invested when he or she was earning. It all goes without saying that employment does not solve future needs if the earned salary is not put into a system than can replicate the resources (Hassett, 2008). It does not matter how much one earns, it matters how much one saves and ploughs back after paying bills. The wisdom of saving lies in the parable of a grain of wheat where one has to willingly allow the best seed to rot underground so as to get more in harvest. It is, therefore, wise for employed people to invest and if they do...
1 Pages (250 words) Essay

Marketing principle

... Lecturer: Social media marketing Introduction In a time when technology has prevailed, entrepreneurs along with marketers have developed a need to catch up with the increased speed of change, or they risk being outmoded. The days when inflexible business models thrived are long gone thus they cannot survive the prevailing market set-up. It has become almost impossible to develop a marketing strategy without paying attention to social media as social media has developed to become an important gradient in the present day market mix especially in promotions (Bashar, Ahmad and WASIQ 88). A key strategy for all the business involves the business adapting to some form online marketing through social media particularly in the industries...
10 Pages (2500 words) Assignment

Archimedes Principle

... Lab Report on Archimedes’ Principle Theoretically, density, or rather specific density of parent material determines whether an object sinks or floats when immersed in water. Specific gravity is the ration of a material’s density to that of water. Practically, the physical properties of volume, density, and mass are related as d = m/v. Experiments that study the floating and sinking properties of different materials are practical application of Archimedes Principle (Smith 15). According to the principle, volume of liquid displaced when an object is immersed in water is directly related to the weight of the immersed object. Below are tabulated results indicating numerous physical properties of different materials determined through...
2 Pages (500 words) Lab Report

Subsidiarity Principle

The popular public opinion that exists today is the perceived political crisis in the European States. The European Union included, within its gamut, a total of 10 new members, in May 2004 thereby expanding its scope. This fact calls for the presence of a concrete plan for reconsideration of the processes which involves political decision making in the European Union. This need, however, was sought to be resolved by the designing as well as the implementation of a Constitution for the European Union. In mid – 2005, this proposed plan was faced with negative criticism in the form of rejection by the voters in France as well as the Netherlands, who displayed their disagreement on the issue and voted against the ratification of...
16 Pages (4000 words) Essay

The Economic Impact of the Emergence of China and India

The main macroeconomic variable that toys in the global economy’s shift are the emergence of India and China as new superpowers. This emergence certainly has a number of implications, but among the most relevant are: disruption of the equilibrium of the global economy which results in rising demand of goods, giving way to worldwide inflation; the attractiveness of outsourcing to these countries due to low cost but high talent workforce of these countries for cheaper operations.
The growing middle class of China and India results in booming demand for the automobile industry. This increase in demand, with the increasing purchasing power of these countries’ people, is not limited to automobiles but more apparent in...
10 Pages (2500 words) Assignment

Economic Value Added as Tool for Improving Performances

To discover whether pure profits exist, take the revenue of the firm and deduct the costs of all factors of production other than capital. Then deduct the pure return on capital and any risk premium necessary to compensate the owners of capital for risks associated with its use. Anything that remains is pure profits.” Simply in economic terminology economic value added (EVA) is commercial profits reduced by opportunity costs (that is the pure return on riskless investment and the risk premium). Lipsey calls the EVA defined in this fashion as “pure profits, economic profits or, where there is no room for ambiguity, just profits”.

Investors in any company are interested in real profits that are profits r...
7 Pages (1750 words) Report

Gross Domestic Product and the Nations Competency in Terms of Economic Welfare

It is often used to compare the economic performance to aid as a prediction tool and to analyze the business cycles and the recessive and expansive economic performances within them. This further aid economic and fiscal policy formulation of the government and is also used to analyze the consumer behavior and the economic phenomena involved. (Heakal, R. 2008).These figures can be a benchmark to compare economies of different nations and the economic prediction process is also made possible.

A usual pattern of assessing the Gross Domestic Product is to have an initial GDP report on every quarter which is an advance report. Two corrective reports follow this before the final figures on GDP are arrived at. It usually takes...
7 Pages (1750 words) Report

A democratic political system is an essential condition for sustained economic progress. Discuss

What is now clear is that democracy is superior when it comes to countries that have a heterogeneous mix of people and cultures since it is imperative that all sections of society be carried along if the process of economic development has to succeed. In case this does not happen, the concerned country faces the risk of social unrest and the inability of the government to carry all the citizens along with the process of economic development.

If we look at some of the competing ideologies of the 20th century. Communism was the dominant ideology of many countries of the eastern bloc. The basic tenet of communism is the absence of private profit and state ownership of the factors of production. This means that all workers...
11 Pages (2750 words) Term Paper

Emergency Economic Stabilization Act of 2008 and How It Has Impacted the Financial Markets

Though there were objections from various quarters about the huge amounts of tax payer’s money being used in the bailout of huge corporates, the Act has been successful in moving the downturn towards a flat point and now has started slowly moving towards a recovery stage. The various programs under the EESA 2008 have played a significant role in the financial sector, housing mortgage, and banking institutions to save the institutions from complete disaster.

The Emergency Economic Stabilization Act is a huge taxpayer bailout designed to rescue the financial sector. The amount of money to be used is around $700 billion or $2000 per American citizen (Public mark up). Emergency Economic Stabilization Act of 2008 is al...
10 Pages (2500 words) Research Paper

Economic Analysis of India

The country’s economy is fast growing with a stable political system that encourages foreign investment although with certain restrictions. The country generally has good energy, transport and communication systems which make the cost of doing business affordably.

The Republic of India found South of Asia is by far the world’s most populous democracy and ranks seventh largest in terms of geographical area (Brown, 1994). India is also the second most highly populated country in the world. The country has a rich culture with four major religions having originally emerged from it; Sikhism, Buddhism, Hinduism, and Jainism. The Indian Republic consists of seven union territories and 28 states and ranks twelfth la...
8 Pages (2000 words) Case Study

Bernard Madoff : A Scapegoat of the Economic Crisis

Darwin was condemned and treated with contempt by the Church for proposing the theory of evolution that linked all living matter in the earth, including humans. In the case of Bertrand Russell, he was imprisoned as a conscientious objector, for expressing his opposition to British participation in the First World War. These are typical examples of people being wrongfully punished when they were guilty of no crime or fraud or misdoing. It would be highly improper to associate Bernard Madoff with the aforementioned luminaries, for he was truly guilty of carrying out the biggest financial fraud in modern history. At the same time, it would be simplistic to classify him as a victim of the contemporary judicial system. The truth, in fa...
6 Pages (1500 words) Assignment

International Business: World Economic Forum and Davos 2010

...Introduction Globalization, one of the most hotly debated issues means global capitalism to some while others consider it to be the continuation of modernism with the forces of wealth, progress, democracy and happiness at play (Kellner, 2002). Globalization is considered to be beneficial which promotes economic prosperity, cultural diversity and technological advancement. According to the critical social theory, technology and capital work together to create a new globalized and interconnected world. While each force of globalization is important, technological revolution has impacted the business models, value creation and differentiation (Spelman, 2010). The cloud computing technologies that have made the popular social networking...
7 Pages (1750 words) Coursework

Globalization and World Economic Forum at Davos 2010

...Globalization and World Economic Forum at Davos Forces Driving Globalization Globalization has resulted in enhanced interdependencies among thenations of unprecedented scale. This augmented interdependence has caused the dismantling of trade barriers and liberalization of markets. The forces of globalization have impacted the nations, the firms and the individuals alike with the prerequisite of liberalization of trade (Awuah, 2009). The seven forces of globalization are; Markets, Production, Culture, Labor, Technology, Environment and Liberalization. Of these factors, the globalization of markets has engaged substantial attention of the firms and the academia. Some markets are highly globalized, while some are not. The scale of market...
7 Pages (1750 words) Coursework

Principle of Mutual Responsibility of Disclosure

...Critically assess how the courts have both developed and interpreted the duty of disclosure to which both lord Mustill and Mansfield make reference.Duty of disclosure is fundamental to any insurance contract and stems from the principle of utmost good faith expected from both the parties to the insurance contract i.e. the assured and the insurer. The principle of good faith known as “uberrimae fidei” is thrust upon the parties to the insurance contract as the contract is based on speculation. The rule of utmost good faith had been first established by Lord Mansfield in Carter v Boehm 1 long before enactment Marine Insurance Act 1906 as stipulated in section 17. The duty is rather reciprocal as stated both in section 17 as well as by Lord...
6 Pages (1500 words) Case Study
sponsored ads
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.

Let us find you another Essay on topic Economic principle for FREE!

Contact Us