Conclusions or Policy Suggestions 5 References 7 Appendix 8 Appendix 1 8 Appendix 2 9 1. Introduction Recently, increasing significance of international trade has been in turn augmenting competition in the global context along with contributing to the increasing socio-political interdependency of various nations through overlapping trade frameworks.
However, I find a born of contention in Marr’s a statement that, we all evolved from one mitochondrial woman-Eve. I believe this might not be the case because the mitochondrial Eve means the universal antecedent to all present humans on the matrilineal line and the nature of humanity must have potential mothers due to existence of diverse genes.
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Time of use-lower price at a lower peak and a higher price during peak times. The time the unit is bought, for instance discount is given for buying early. The major principle behind this price discrimination is that airline businesses are trying to utilize various price elasticities of demand (Holloway 25-29).
They are one of the most prestigious and credible companies in the world, as far as medical industry is concerned because of their long history of serving the people in an admirable manner. “Strong sales and marketing infrastructure is another strength of Pfizer”(Pfizer: Swot analysis, n.
Positive statements can be structure in terms of what occurred in the past, what is occurring in the present and future probable economic outcomes. For instance an economist may state that lowering the prime rate will cause the inflation of the nation to go down.
investment, energy, materials and labor. The best example of labor and land production in agriculture can be seen in the Green Revolution. The Green Revolution that spreads 40s to 70s has seen the new grain techniques that lead to significant production across the world.
This was seen as a major source of income for the developing countries, but only the dependence on primary exports brought very less income to the firm. Import substitute industrialization Import substitute industrialization is a trade strategy, which has become highly popular in the developing countries.
This is because, the state has control over the Federal reserve’s in its bank. When, the Federal Reserve influences its discount rate, open market operation and reserve requirement on depository institutions, it affects the demand for and supply of balances that these institutions hold at the Federal Reserve Banks.
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2008-2009 Economic Crisis. Introduction In economics, a recession refers to a business cycle reduction. It refers to a general retardation of economic activities (Simon, 2001). Macroeconomic pointers like Gross Domestic Product (GDP), investment spending, employment, capacity utilization, household income, inflation and business profits fall.
This type of assumed Gross Domestic Product is often referred to as potential gross domestic product and is often presented in budget statements (Thoma, 2012). It has however not always turned out that the potential gross domestic product values are achieved.
This model is among the most popular standard macro models that explains different characteristics of an open economy. An open economy is an economy in which a country trades with other countries in goods, services, and financial assets (Redseth 2000). Most of the economies in the current world are open due to globalization of trade.
Observing the consumer behavior is an important part of business strategy as it influences the design of the product, the way it is marketed and priced. Identifying why, when and how a consumer chooses a particular product is important for any company. They can decide whether to continue, halt or alter the production of the particular product only if they know what aspect of the product most of the customers love or hate.
The magnitude of economic cost is dependent on the value of the foregone benefits of the best alternative and the cost of the alternative selected. The main difference between accounting cost and economic cost is that the later factors in the concept of opportunity cost (Boyes & Melvin, 2011).
Economic development of India and China. Introduction The economic growth of China and India has triggered much interest in the world. Economists have had extensive arguments and counterarguments on how the Asian economic giants managed to grow and cut a niche for themselves in the global economy.
Ultimately, it led to downturn in economic activity, reduced consumer wealth, and the subsequent 2008-2012 global recession. As a result, there have been variant explanations to the causes of the financial crisis of 2007–2008. Michael Lewis is one of the financial analysts that seek to explain the financial crisis of 2007–2008 through his book called The Big Short.
The process of developing the Poverty Reduction Strategy Paper (PRSP) involves drafting by the government of the country, generally the Ministry of Finance. It requires consultation from the International Finance Institutions (IFIs), the major donors that help the economic development of the country and the civil society for which this development strategy is undertaken.
A Critical Evaluation on the Claim that an Increase in Economic Growth does not Necessarily Lead to an Increase in Human Well-Being A critical evaluation on the claim that an increase in economic growth does not necessarily lead to an increase in human well-being Economic growth as a measure of the economic activity has been in existence since the times of ‘wealth of the nations’ by Adam Smith.
In this paper a specific role of microeconomics is explored: how microeconomics can be used for explaining the effects of an economic bailout on the daily life of a city’s life. Reference is made in particular to Detroit and the consequences of the city’s bailout on the citizens from a microeconomics perspective.
For several decades, looking at another human being in a worthless way has been conventional. Nevertheless, it is only recently that human beings have taken the trouble to look at discrimination as a problem in a number of areas. There is no society which has been spared from the menace of discrimination.
Such a phenomenon occurred during the late 18th century and continued till the beginning of the 19th century. This development took place in the European countries, particularly, in England and France. According to some researchers and historians, the root of this revolution lies in the innovation of new machineries and introduction of improved and mechanized methods of production (Craig and Thomas 253).
This essay primarily focuses on the identification of the distinctive features of two most common economic system in the world. Free market is an economic system that is determined by the price mechanism. A mixed economy is a combination of a free market and planned economies. Free market economy is deemed more effective compared to a mixed type.
Over the recent past, the global economy has been faced with a lot of uncertainties associated with fluctuations of prices. The stability of an economy is as well determined by many factors including preceding and current economic conditions. Therefore, the study of economics is considered a significant aspect as it helps individuals.
China is one of the largest and powerful nations of the world economy. The economic growth of China has been one of the fastest growing in the world. Recently China has faced slowdown due to an economic slowdown in the world. Still, the country has achieved a GDP growth rate of more than 6 percent in the years following the crisis.
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Individuals differ in certain unmeasured variables that, if not properly controlled, have influential impact on levels of unemployment. There exists, however, no universally acceptable definition of unemployment so far because both employed and unemployed people worldwide are measured quite differently.
A basis proposition of Keynesian theory is that the equilibrium level of income and output depends on the economy’s aggregate spending for output. If aggregate spending is less then demand will be less and it results in unemployment and less national output.
What do you understand by economic protectionism?
Free trade is restricted with the help of various import duties, tariffs and also quantitative restrictions known as quotas. Implementation of such policy is for giving an opportunity to the domestic industries so that they can grow up in terms of efficiency and compete at the international level with their foreign counterparts.
Both countries have been through very serious cases of external and internal debt crisis and have used the same management strategies. Argentina experienced crisis in the early 1990s whereas Greek is experiencing the same a decade after. In the management of the crisis in both countries, there have been more of similarities than differences, which led to the volatility of the country.
However, people who are either not interested or capable of working are defined as “economically inactive” and are not incorporated in the measure of unemployment. Unemployment is an indicative feature of an economy which is in a stressed condition, with resources not being utilized in an efficient manner and supply from the labour side surpassing the demand from the employers in the industry (Hardill et al, 2001).
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The TNCs may act in pursuit of the interest fueled by their economic power to exploit the resources in the emerging markets and block the emerging companies in the local market. To help manage these, there are certain guidelines and principles developed by different regional and international agencies. These principles need to be followed by TNCs.
It is stated that the operations of transnational corporations have negative and positive impacts on the economies of the host nations. The impacts will depend on the level of development in a given economy and the operational procedures and processes employed by the TNC. While TNC may lead to job creation in poor countries.
The company delivered 64.3 dollars of revenue while the amount of revenue in 2009 was 68.3 billion dollars. The company captured 69 billion dollars of new orders in the course of the year. The company persisted to supply strong liquidity with operating cash flow of 3 billion dollars along with cash and marketable securities of 10.5 billion dollars (The Boeing Annual Report, 2010, 1).
Companies tend to earn a profit. The good thing is that companies are not purely made of profit directed machines but are amazing, the profit generation and labour utilization are actually from labours of man—man being a spiritual being contribute the part where the ethical and moral aspects of a company somehow came from.
The decisions made would enable the monitoring along with control of the monetary and economic conditions so that the country continues experiencing growth that is sustainable and inflation rates that are low. In the article, the Governor makes the observation that the European continent has experienced weak monetary with their future values still appearing to continue falling in the future.
And it does. The higher the Government Spending, the more availability of public goods in the country, proving to be beneficial for the citizens of the country. Public spending is a key factor in the state’s economic growth and development. It is very essential for financing infrastructure electricity, including roads and water but this public spending should be undertaken, after evaluating all the options so that it proves to be advantageous to the growth of the economy.
Moreover, this regulation involves a range of actions such as legislation and market frameworks to detailed regulations that are enforced by sectoral regulators appointed by the government (Gaughan, 2010). Through regulation, the government protects workers’ safety and health.
The supply side constraints may push up the prices. Similarly elasticity of demand for the product acts as a limiting factor to sales. However, in real life situations, the elasticity of demand is governed by diverse factors such as branding, cross selling, value addition, creating new uses for the products, multi-level marketing, direct marketing, discount sales and online marketing.
Interest rates fluctuate because of macroeconomic shocks like fiscal policy and monetary policy, because monetary policy is only a tool for economies with floating exchange rates. For economies with a fixed exchange rate, monetary policy is only used to support the fixed exchange rate or offset changes of the interest rate because of fiscal policy.
A merger should be beneficial to both parties involved. As such, this paper seeks to analyse the merger between Hewlett-Packard and Compaq Computer Corporation. This merger was widely criticised and it has been dismissed as a failure which resulted in the CEO of the merged company, Carly Fiorina being relieved of her duties.
What could be the expected positive and negative effects of European Monetary Union on a member country's economy?
The development of an economic framework that would be common for all member states has been included in the objectives of European Union founders.
The financial crisis has made the economy face several challenges and the Bank plans to overcome those challenges by using the quantitative ease methods to ensure free flow of the money (Ahmad, 2010). Same has hit the Bank of England as the increasing financial crisis has resulted in the increase of inflation.
In other words, fiscal policy can be referred to as the method to raise or spend the government’s revenue in order to attain sustainable economical condition (Vitek, 2012). To cope with instable economical conditions (inflation, unemployment, and deflation) the government makes appropriate decisions to regulate the flow of cash and credit in an economy either by taking loans from the international financial bodies or by reducing the public tax burden (Perry, et al., 2008).
How does the study treat the “lawful immigrant children” when it assesses fiscal costs? The heritage foundation report indicates that half of the household heads of unlawful immigrants have less than high school degree while 25 percent of the household heads have a degree from high school.
At this juncture austere fiscal policy is highly debated and is projected to further impair the development activities in the country. Social security faces the largest question. The harsh realization of these activities as realized by the common domestic citizen is that, Social Security and Medicare might not be available any further for the generation that is at their twenties in the current decade.
An employer may disregard a potential employee because of their racial prejudices hence limiting them from harnessing from their potential. This is because the job seeker might be from an ethnic minority but their professional skills could go beyond their race as they could be in possession of the required training.
According to the essay, China and India have not only emerged as economic superpowers during last decades, but also displayed potential of qualitative improvement of the social and political interactions between the countries. The mutual interest of the countries contributed to the cause. Trade ties and bilateral co-operation acted as the catalyst.
In this assignment the major focus is on land, labor and capital that has a major contribution towards US economic growth. The productivity of the US land and natural resources has increased with time. With efficient systems and technological improvements the US cropland value stood at the highest in 2013.
To have an imperative explanation of the concept, it is prudent to define the unembellished concept ‘Foreign Direct Investments.’ It refers to the process whereby the populace of a country acquires the full control and ownership of assets with the sole purpose of controlling production, distribution and other activities of a firm in another country.
(4 marks) Marginal rate of transformatio is as below UNs(C , h – Ns) – wUc(C , h – Ns) = 0 (1) zFNd(K , Nd) = w (2) We have UNs(C , l) – zFNd(K , h – l)Uc(C , l) = 0 Since p = zF(K , h – l) – wNd and G = T, from the budget constraint C = zF(K , h – l) – G (c) Setting MRS=MRT, solve the resulting equation algebraically for l as a function of G.
The main focus of the essay is on the increased effectiveness of the free market system, compared with mixed type of economy. Among all the types of the economic system, free market economy is proved historically to be the most productive and efficient. In free market economy the government has no hand in the market.
Although minimum wage laws have affected different jurisdictions, there have been different opinions concerning the benefits and disadvantages of minimum wage. Those that support the idea of minimum wage claims that it increases the standard of living of employees, reduces inequality, reduces poverty, makes businesses to be more efficient and increases the morale of the workers (E, Michael, Canada, & Policy, 2008).