Nobody downloaded yet

Economics - Term Paper Example

Comments (0) Cite this document
This measure is additionally used by countries to compare the level of economic activity about other countries within the same economic zone…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
Read TextPreview

Extract of sample

Download file to see previous pages In their notable works, famous economic thinkers such as Mishan (1967), Scitovsky (1976) and Arrow et al. (1995) have critiqued GDP, arguing that it is a significant mathematical measure, but not a comprehensive measure of the economic activity of a nation (Kitov, n.d.).
In the recent past, GDP economic measure has been considered equal to the social welfare of society. It is evident with the recent adoption of the term "standard of living", used synonymously with GDP. However, this relationship is not buoyed by any significant macroeconomic concept, but has become a habit in the recent past. What is conceivably utmost conspicuous is that a huge bulk of reporters and legislators, irrespective of their party-political inclinations, make very credulous declarations about GDP (vintrova, n.d.). It is therefore not astounding then that we see the majority of people in the world prefer economic growth in terms of GDP growth. The same has been supported by an obvious emphasis on GDP growth by global institutions such as the OECD and IMF.
Numerous items and events in this life cannot be assessed through GDP, but they are measurable using the cadent of education, health, clean environment, social welfare, freedom and many others. A famous economist started the process of distinguishing the commodities that are comprised in the GDP measure and the capabilities that are omitted from it. His efforts, buoyed by his colleagues efforts led to the notable discoveries of techniques of supplanting GDP. There are various flaws associated with the GDP measure of economic growth. Key among them; it is reported that GDP measures average costs rather than the benefits that emanate from the market operations. It is also said that GDP leaves out many external costs associated with the country’s economic growth.
In the years between 1950 and 1965, a negative mean welfare trend was experienced in ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Economics Term Paper Example | Topics and Well Written Essays - 1250 words”, n.d.)
Economics Term Paper Example | Topics and Well Written Essays - 1250 words. Retrieved from
(Economics Term Paper Example | Topics and Well Written Essays - 1250 Words)
Economics Term Paper Example | Topics and Well Written Essays - 1250 Words.
“Economics Term Paper Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Urban economics
Sustainable transportation system ensures building of a society that acts as backbone, which supports economic growth through assisting people access their jobs and services easily. If the city is well-planned and laid out properly, urbanization will lessen the overall pollution levels and will preserve the surrounding areas
7 Pages(1750 words)Term Paper
Institutional economics
Capitalism is a method in which an individual or a private organization manufactures the products and services with an objective to generate profit. Profit and wages are the two common forms of income in a capitalist system. As different people have different mindsets, therefore, different viewpoints by economist, political economist and historians have come under consideration when capitalism is under allocution.
4 Pages(1000 words)Term Paper
1.3 Natural monopoly…………………………………………………. 5 2.1 Economy of Africa …………………………………………. 6
6 Pages(1500 words)Term Paper
Economics essay
For price ceiling to be effective, it has to be set below the equilibrium price. The figure 1 below shows that the rent of the house is P. Qs is the number of houses property developers are willing to rent out and Qd is the number of houses consumers are willing to rent.
2 Pages(500 words)Term Paper
Labor Economics
This is especially for women who are now poor in America than the men. Like the Chinese and the Indians, the economy of America has increased substantially. This has happened because of the rapid financial development that has taken
4 Pages(1000 words)Term Paper
Managerial Economics exam paper
Explicit costs are expenditures that a firm incurs in earning the revenue. For instance, purchasing land, raw materials, labor are all explicit costs. Implicit cost
5 Pages(1250 words)Term Paper
Economics of multinational enterprise
e countries with lower relative prices have a comparative advantage in that commodity and a comparative disadvantage in the other commodity as compared to the second nation (Beg & Manoj pg34-9). Gains made by a country with higher comparative prices as compared to that with
2 Pages(500 words)Term Paper
Managerial Economics
The world oil markets have experienced significant fluctuations within the past year, with the demand being reduced by a weak world economy and increased after the natural disasters in Japan and India. It is anticipated that global oil demand growth will remain stable in 2014. 
8 Pages(2000 words)Term Paper
Micro economics
It can also be considered as the lowest wage at which a worker may sell his or her labor. Minimum wage differs from one country to another and from one state to another in the United States. The US federal government has specified a statutory minimum wage that each employer
7 Pages(1750 words)Term Paper
International Economics
Its share in global trade in merchandise doubled but due to Asian crisis it slowed down in 2008-09. The "processing trade" came into effect where the trade is done in intermediary products,
5 Pages(1250 words)Term Paper
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 Term Paper on topic Economics for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us