Macro & Microeconomics Essays

Buyers usually get satisfied by understanding that they have paid a fair price than what they expected (Gagnier, 44). For example, if consumers were willing and able to pay $150 for a round of drinks of Miestii mici but eventually they pay $100, the consumer surplus in that case is $50. They usually feel that they have acquired the product at a fair cost. Below is a figure representing consumer surplus (fig. 2).

However, since 1989, there has been a sharp decline in their standards of living as the supply has fallen short. Also, states rich in oil can maintain high GDPs which normally fall if the oil gets finished. Economic growth without environmental consideration can lead to greater expense on the cleanup.

Microeconomics concerns the economic choices that face an individual rather than society as a whole. It is based on the choices that an individual makes when deciding what goods or services to purchase and how much of them. Therefore, in order to produce a good or service, factors of production are required.

e forces approach fails to determine reasons behind a number of firms sustainably makes profits in a zero margin operating perfectly completive market and industry. Therefore, a comprehensive approach should involve analyzing aspects that make firms different. Limitations and

It is a socio-economic system that emphasizes the owners of capital investments control the economy. Means of production are controlled by the private market as opposed to government controls. Under this system, the major motive of private companies is to make a profit and maximize the wealth of its shareholders.

The world’s highest tariffs were in Latin America. Tariffs there were high long before the start of the Great Depression. To some, this information may come as a bit of

The central government has delivered cautious economic management since last one decade. This particular approach has result in a strong financial position of the UK. The public sector in the UK that entails government spending, borrowing and revenue rising has played a crucial role in the mixed economic structure in the UK after the economic slowdown.

Additionally, the internet based communication protocols have been known to assist millions of individuals in exchanging information (Kern & Willcocks 2000). Based on previous statement, it can be

Despite its strong presence in China, the company was previously reluctant in investing in China. It instead operated through other companies such as Taiwan’s Hon Hai, third party contract manufacturers to help in the manufacturing of some of its products. MNeil, (2014

General election, which happened in May 2010, a hung Parliament was realized and this led to the formation of the Conservative-Liberal Democrat coalition. Britain has a long history of devastating coalitions. However, after World War 2, party politics in the UK became extremely polarized and therefore the 2010 results were a novelty.

Using this equation: GDP= 5716 + 348.925t (where t – quarterly time bound), we can conclude that the GDP is expected to increase by $348.925 each quarters. Although the economy is expected to grow at this pace, this

probability of a hit is essentially lower following a hit (weighted calculation=40.76%) than following a miss (weighted calculation=58.3%), this basically contradicts the hot hand hypothesis. For the range of data the correlation coefficient is negative. The correlation

When there is so low unemployment, payments into the fund are high compare to benefits paid off, hence trust fun grows. During periods of high unemployment, the state depletes its trust fund since it pays out more benefits. Even after exhausting the trust

These countries include Saudi Arabia, Iran, Iraq, Kuwait, United Arab Emirates, Libya, Qatar, and many more. Beside the countries in the Middle East, there are also some other countries located

OFGEM identified issues such as competition, consumer engagement in the market, liquidity concerns, and control of greenhouse gases emission to be of great importance in developing the energy sector. In summary, more competition should be enhanced in the energy sector in order to improve the value of services offered to the customers and reduce the energy prices.

In a marketplace, a buyer faces constantly changing market conditions. At times, the prices of the goods will increase while at other times the price of the goods will tend to decrease. On other occasions, the prices will be affected by a change in policy whereby the government introduces subsidies on some goods and also new taxes are imposed.

While employing students and migrants, they ensure there is a trust relationship between the employers and the employees, which will reflect in their attitude while serving the customers. At the same time, the students of University Centre Cesar Ritz could reflect the philosophy of the Cesar Ritz, which is “Customer always right” in practice.

Few conferences changed world history as much as Bretton Woods. Today we live with the consequences and implications of the decisions made there. Many of those decisions engrained American capitalism and American power and the cornerstone of the world economy. This has had a very negative effect on the lives of billions of people.

It is quite essential to state that rollback of beer tax will benefit the middle and lower classes in America. It will soften the inefficiencies existing in the taxation system and will create jobs. The taxes imposed in 1991 led to a loss of almost 50, 000 US jobs (Roll back the Beer Tax: Online Use).

Friday's weak data for April's industrial output, investment, and property sales demanded a response from the government. That response arrived on Saturday in the form of a cut in the reserve-requirement ratio, releasing more funds for the banks to lend. The 0.5-percentage-point cut in the ratio was the third since November.

The advancement of telecommunications and transportations and infrastructure with the rise in internet technology has made the whole world a small place. The wide use of the internet represents the major driving factor in the increase in the globalization with the increase in the economic and cultural activities of the activities.

The difference between the two types of feedback is basically on whether the feedback signal is out of phase or in phase with an input signal. Negative feedback that is 180 degrees out of phase with respect to that of the input signal. Positive feedback in which, the current or voltage feedback is applied in order to increase the voltage input.

Excess supply is a market situation that takes place when the quantity of a commodity is more than the quantity needed by consumers. It is caused by increased in prices, improved technology, climate, and government regulations.  Economists define excess supply in terms of equilibrium, that is:  Supply minus the demand = excess supply or surplus.

Netflix's survival is questioned by analysts as its shares have tumbled since competition emerged in the streaming industry. Analysts have also questioned the dropping numbers of shares particularly the slowdown insinuating a lack of material competition. The analysts also say the profitability of the company is likely to be hurt because it grows aggressively in global markets.

A monopolist earns supernormal profit in the long run. It can easily raise the price of the product as there is almost no change in demand. Electric supply companies enjoy a monopoly as they are often Government-owned. They can raise their prices but the demand remains the same. The Government makes sure that there is no competitor in this market (Samuelson & Marks, 2005).

A commodity can be said to be an object outside us that satisfy our needs. These needs can either be direct or indirect. The exchange value is a quantitative relation in which the commodity in use is exchanged with another one. The value of a commodity remains the same if the labor time required for the production of the commodity remains constant.

To address this, he argues, there is need for more public spending. It is no doubt that his arguments require attention, not only by economists but also

Whereas barter trade existed in the P.O.W camp and acted as the alternative to cigarette money, cigarette money was preferred because it enabled the setting of a standard value of commodity that was equivalent to a given number of cigarettes. For example, while in

Before conducting the research, the articles related to free trade agreements, trading zones, theories of international businesses and the inferences of free trade on business will be studied. The research

The null hypothesis of the research is: does globalization enhance demand of the products produced by the firm?. The alternative hypothesis is globalization has no impact on the demand and supply of products and services tailor

Evidently, the UK energy market is constrained due to the rise of energy prices and lack of consumer consideration in price determination. Additionally, irregular market competition has provided opportunities for consumer exploitation. As the demand for energy grows, there is evidence that the dominant supplier is making more profit at the expense of the consumers.

Economic way of looking at life covers a scope of various methods of economic analysis. It raises individuals into a different thinking level during decision making and the understanding of the today’s economic market and society in general. Simply put

n can minimize the cost of holding cash by balancing the frequently of visit the ATM with income and other factors such as nominal interest fee and risk of keeping cash. It is unlike dynamic model that assumes the need for money is based on the prevailing economic conditions

It is so because when there is a certain or a group of individuals who have the inherent responsibility or have the right of ownership under the law to own and take control of the resources within a society.  It brings about a sense of control and responsible use of these resources, not only for the individual or the group but for society as a whole.

In case of the immigrants who are granted the right to live and work in the USA through the H1-B visa, there is no reason to refer to the above problem since the high skilled immigrants entering the countries avoid to be involved in illegal activities; instead, they enter the local workforce trying to develop their competencies. 

The problem of Third World Debt has been a talking point in international political meetings for more than half a century now.  The new world order that had emerged with the end of WWII had divided the world into three distinct political groups.  The first was led by the US and its allies, the second comprised of the former USSR and the rest belonged to the Third World.

This created uncertainty within the markets and increased the overall risk premium which was charged on the rates of return on various instruments including stocks and other securities. What is also significant to note that this uncertainty not only culminated into the deflation in asset values but the overall confidence of investors went down too.

The firm’s fixed cost derives from the recourses which it cannot be mobilized. The cost of fixed resources is not varied upon varying output levels. Thus stays constant in the above two cost functions. Average fixed cost is the ratio of firms’ fixed cost and level of output which can be given as; AFC= FC/Q where AFC is a constant.

In the period 1950-1969, he lectured at numerous universities, and afterward, at the Virginia Polytechnic Institute, he was a Distinguished Professor during 1969-1983 and served as the foremost director of the Centre of Study of Public Choice in 1969. He was also, in 1963, at the senior most position at the Southern Economic Association.

Unlike most of the previous reports, the 2013 version places much focus on manufacturing and the competitiveness of our economy. More importantly, the growing trade in services is considered greatly as an important area in the overall economic growth. The economists are

The factors may result in irrational decisions contrary to the normal economic models and predictions according to George K, M (1999). This is deemed to bring about inefficiencies in the market thereby affecting prices and output. The law of demand and supply which is a key player in the field of economics is disobeyed as consumers are led by emotions and social thinking.

This essay mostly focuses on identifying and analyzing three economic topics, such as demand and supply, market efficiency and consumer surplus. The researcher also gives some descriptions on each term and provides real-life examples on the topic of this economic concepts.

The author states that ergonomics will reduce injury and ill health will reduce because the workers will be able to work with the equipment properly and no straining of the workers will occur hence a number of injuries will occur. Furthermore, ergonomics will increase work productivity and performance.

before world war one would have found in every town goods, landscapes, laws, institutions and sacred elements similar to those in his or her home country. Additionally, international trade got a major boast because of technological improvements, which has helped, in

According to the article, social wellness and economic growth have a direct correlation. I find this analogy absurd since it is difficult or impossible to measure

rnment, for instance, has repeatedly raised the issue, noting in one policy pronouncement that the countrys exchange rate is a source of concern and proceeded on warning the world against and only stopped short of calling the country a currency manipulator (Rajagopalan &

With the emergence of modern human and commercial needs as driving forces, the continuously increasing demand for the world’s most important commodity (Hubbard, 1998) is the main agent that aids the ruling capability of oil to the world’s economy. The significance of the said commodity is incredibly high in driving the global economic indicators of growth, competition, trade, and civil life.

The production of oil, particularly in the United States, has allowed for the surge in the supply without a concurrent increase in the demand. “Instead, the surge in U.S. oil production, bolstered by additional new supply

The New Deal brought about a lot of political realignment and introduction of a series of domestic programs and enactment of legislations. These programs introduced a lot of regime uncertainties that scared away local and foreign investors. In this case, investors

Therefore, products of Microsoft are complementary to the operating systems in both serves and personal computers (Economides, 2001). The Company was investigated for antitrust behaviors due to violating the Act that prohibits companies from