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Today, the size of a country’s level of information technology input could be equated to the level of economic growth and the subsequent size of that country’s economy. It is therefore important that various countries continue to plan ways of improving and bettering their information technology competitiveness in order to remain competitive.
Several factors had contributed to an increase in unemployment rates. Among those factors include; poor economic policies, unstable political climate that tend to discourage investments, lack of necessary education and training for securing a job., Slow economic growth, over population to mention just but a few(Kennedy 36).
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Governments exhibited change with respect to military and power balance and Europe emerged as a dominant power. Indeed inventors played a crucial role in the industrial revolution. They established efficient processes to increase farm yield and to produce more numerous goods. A good example is Jethro Tull who invented the seed drill.
The cell phone industry is observed to be one of the rapidly growing industries throughout the world. With the advent of new technological features and innovations in a sustained manner, the industry has grown significantly with the increase in the number of buyers and market size. Certain key features such as affordable mobile phones.
All industries or organizations in the world are influenced by factors such as environmental, legal, technical, social, economic, and/or political factors. One must necessarily consider the impacts that factors such as emerging markets, globalization, competitive environment, and labor issues impact on the viability and health of an industry.
vaccinations against infectious diseases). Briefly suggest how government might intervene to correct this under-provision? 5 (C) The Consumer Price Index (CPI) is the official measure of inflation in the United Kingdom. Why might CPI not be an accurate measure of the costs of living for any given individual consumer?
The dominance of the world’s trade business is held closely by the major economies of the world - the USA, Japan, and Germany. The bigger the size of the economy, the better placed the nation becomes in the business negotiation. In other words, the bigger the economy, the higher the competitive advantage that the country has over other nations.
If the Federal Reserve increases the rate of interest, the profitability of such firms will definitely go down due to reduced sales. Increased interest rates will increase the cost of borrowing, which in turn reduces the amount needed to finance investments and through the multiplier effect, this will lead to reduced profits to international firms.
Most common barriers to entry include exclusive rights, and economies of scale where exclusive rights comprises legally granted property rights to produce or distribute products or services and economies of scale is the ability of a firm to produce in large scale therefore driving competition from the market.
The author argues about the effects of real-world transaction costs and states that they are rarely low enough to consent to efficient bargaining and so this theorem is almost inappropriate in economic reality. The Coarse’s theory is viewed as an essential basis for the analyses of most modern economic cases including government regulations.
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).
However, the labor force of such countries is largely unskilled. This contributes to the slow economic growth of such countries. The most common means of improving the quality of labor in a country is through attracting foreign investments. Foreign investors provide labor to the local population besides the tax benefits that the local governments enjoy.
Small countries that open up trade with larger foreign companies can be incapable to compete without the necessary scale effects. As economies seek to offset weak currencies, policymakers can implement initiatives that affect international trade. A good example is the pegging of the franc to the euro. The move devalued the Swiss franc by 6 percent.
Many past empirical pieces of evidence had found that FTA (Free Trade Agreements) is likely to boost bilateral trade flows, to assist to attain economic growth and to create new employment openings driven by export directed development in the economy of partner nations. In most of the FTAs, the advantages derived due to FTAs are likely to overshadow the cost involved especially in the long run.
Because of this, the international coverage of the crisis had also been remarkable. This paper discusses in detail the 2008 financial crisis focusing on the causes as well as, the final consequences. It is worth noting that poor financial policies were a major category of the probable causes of the 2008 financial crisis.1 Notably, major weaknesses were exposed within the national stretching beyond the international financial regulatory body frameworks.
The social and economic benefits of diverse institutions of higher learning have been at the forefront over the years for the Canadian government as they attempt to influence the shape and role of the sector. In this moment in time, it is essential that the government reassert the role that is played by universities in the country’s future development, especially as we emerge from a recession.
A college degree will act as capital more, so human capital since the holder will have attained skills and knowledge in the process of training and learning in school (Mankiw, 2012). The skills and knowledge attained by the degree holder will improve and increase productivity hence the standard of living is improved as stated above.
Federal Open Market Committee (FOMC) has been making a move towards increased purchase of mortgage assets from the public as a tool for increasing its financial base which would then make the economy expand in terms of expenditure and significantly raise the national income bar with regulated prices so that inflation is subdued.
The number of probable customers that may buy the custom printed t-shirts influence the size of the market. If the size of the market diminishes, the demand for custom printed t-shirts will decrease. This means the custom printed t-shirts will be more costly and there will less probable customers (Elliot & Elliot 1997, p. 46).
Economic freedom has played a role in the transformation of international trade. It has built trust between parties through the regulations set to improve the trading environment. Because of freedom, parties participated in the production of products that boosted fair competition leading to the production of quality goods.
Those changes may be attributed to technological, demographic and industrialization changes respectively (Tucker, 2011). This may further force on organisation to incur huge capital expenditure as it tries to retrain its employees (Tucker, 2011). In above connection, structural unemployment is long rather than short term economic condition.
The promised equality for all the animals is not forthcoming and eventually some ‘more equal’ animals perfect a system of tyranny of their own. The novella is a stinging critique of the Russian Revolution.
In this era of competition where economic supremacy can impact various other aspects of a given nation, the need of monitoring economic performance has gained a special attention among the nations. In this regard the economists worldwide has suggested various measures amongst which Gross Domestic Product commonly known by its abbreviation of GDP has become the most popular indicator that measures the health of the nation’s economy which in turn impact the standards of living of the nation.
The preamble of GATT describes the motives and purpose of forming it. Full employment, increased standards of living through steady growth of income and making full use of world resources to expand the production base and exchange of goods were the motives behind the formation of the GATT (World Trade Organization).
Even though the same report pointed out that the budget deficit would reduce markedly from $1.1 trillion in 2012 to around $200 billion in 2022, representing 58 percent of the GDP, it painted a grim picture of the economy (Kogan, 2012). Notwithstanding, the present economic pressures would make it hard to reduce the deficit unless stern and sound policies and regulations are put in place.
One of the ongoing discussions that pervades economics, business, and politics, is the level to which government intervention is useful or harmful to the economic system as a whole. Both sides have some convincing arguments. On the one hand, those that argue against government intervention advocate the laissez faire form of economic doctrine.
Evidently, both of these renowned economists advanced different perspectives concerning economic freedom pertaining to markets, monetary policy, and fiscal policy. It is important to note that both economists believed the effect of economic ideas on public policy was enormous.
International economics is a field that is focused on the effects upon which the economic activities of international differences in consumer preferences, productive resources and the entire institutions that affect them. The field also takes the responsibility of explaining the consequences and patterns of interactions and transactions between different countries and their inhabitants.
Majority rule is a competitive method that consensus does not agree with in its general structure. Consensus creates a form of cooperation than competition in voting. The majority rule is however important when dealing with technical matters that require knowledge on the subject of debate.
The answer to this question is largely dependent on a country, as different countries have different methods of computing what is to be subjected to taxation from the security funds. The conventional knowledge would argue that as one grows older, the burden of taxation should reduce, this is not particularly the case in some cases when one has some of the income generation activities while at the same time having security funds; thus, security funds will be subjected to limited taxation.
One criticism of socialism is that, in any society where everyone holds equal wealth, there can be no material incentive to work because one does not receive rewards for a work well done. They further argue that incentives increase productivity for all people and that the loss of those effects would lead to stagnation.
GAAT also sought to eliminate regional preferences and thus create a trading environment where all the countries were better placed to undertake trade with each other, without unnecessary prohibitions (GATT, 12). The enactment of this agreement occurred in six rounds, where different aspects of the agreement were agreed, until the final round when all the agreements were then consolidate to form the final agreements, which lasted until 1994, when they GAAT was then replaced by the World Trade Organization.
Even developed countries and rapidly emerging countries are not free from the problems generated by inflation. China is the most rapidly developing country in the world at present. Yet, “China's inflation rate hit a 10-month high in February, as Lunar New Year festivities drove up food prices.
The European Union club of the rich nations has been especially hard hit. The country that shall be the focus of our attention in this paper is the United Kingdom. This country has experienced some of the heaviest blows from the economic slide.
Bahrain and Saudi Arabia are both situated in the Middle East. Bahrain is much smaller than Saudi Arabia in terms of area, population and GDP size. Consequently, Bahrain’s economy and Saudi Arabia’s economy differ in their overall structure and composition. The aim of the analysis is to identify similarities and differences between two economies.
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Corruption is an abuse of office by a public official for private gains. It is a deeply rooted vice that involves embezzlement, bribery, and nepotism. In the world, corruption is widely spread in developing countries due to social and economic problems. However, governments struggle to combat it in order to improve their economies.
Due to inequality in the wages or income of the workers, many people cannot gain all opportunities in life so the overall standard of living in society declines. The other point is about the riskiness of jobs, due to inequality the risk of getting good jobs arises in societies which means the loss of jobs is directly proportional to the cost of health insurance and the loss of home.
Google was charged with antitrust and anti-competition statutes as they were thought to arrange their search results in a way that brings their own products and links above others. Since more than 70% of search on internet is carried out on Google and many businesses depend on online advertising, several giant companies feared they will not show up in search results because Google tends to advertise its own products and hence is giving an unequal opportunity for competition.
The microfinance model does not pay attention to the crucial roles dictated by scale economies. Microfinance results in micro-enterprises and this means that agricultural units and enterprises that are small in size often operate under efficient and effective scales. It is imperative to consider ventures that operate under the minimum dictated scales.
The resource person responded that economics plays a big role in many aspects of his job and that includes the organization he worked for and his personal life as whole. Sensing that it sounded too much for me to absorb, the respondent made an analogy using my situation as a student regarding his role in the company.
According to recent surveys, statistics claim that Alberta and its neighbors in the North and South have been having a stagnant economy in recent years. Alberta’s current labor force is ranging at 1.35 million, and the economy added about ten thousand jobs last year. Alberta’s retail trade sector is in crisis as well as the construction industry.
In the United States of America, the minimum wage is constructed around a flat hourly rate where the law specifies the minimum amount of pay to be given on an hourly rate. This law is called the Federal minimum wage bill, which was amended, on July 24, 2009, to reset the minimum wage figure to $7.25 per hour.
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This paper concludes that the effects of microfinancing have a positive influence on women's empowerment in Latin America. This paper also concludes that the overall empowerment level of women in Latin America is significant and provides spaces for women to run viable businesses and contribute to the family’s income.
The paper discusses the key issues discussed in the article and also explains how it relates to the syllabus that is given. The chosen article is about demand supply and market equilibrium. It also discusses the elasticity of demand of a product. To start with, the article describes utility as the amount of satisfaction that a consumer derives from consumption of a good.
165). It has a strong impact on the national income of the nation whose currency is affected. It can be achieved in many ways (Abbott & De Vita 2011) – however this is not within the scope of this article. In this article, an attempt is made to clearly discuss the impact of currency appreciation on the national income of a nation.
Economic changes have accompanied the evolution and civilization of political and social institutions across the world. Current literature postulates the existence of profound economic disparities within modern societies. These disparities came from changes in economic conditions associated with wealth generation and distribution within a given nation.
Facebook, which currently has a user base of over a Billion active users, was founded in 2004 by March Zuckerberg (Fowler, 2012). In 2012, the annual revenue of the organization was $5.1 billion and during the initial public offering which took place in the same year, the organization was valued at $104 billion (Sengupta, 2012 ).
The public also needs to be adequately informed about most health care services, so that they depend on reliable information about the existing prices and quality, to obtain the goods and services they desire. So far the governments have been active to play their parts to increase efficiency and equity, which is evident from the state's increase in health care spending.
Poland is located on the central European map, and it borders a host of seven states including Germany and Russia. Its history has been revolving around the presence of these two powerful states, which includes the period at which each of the countries occupied it. Poland has been able to grow, despite its involvement in two of the most tragic wars.
Using marcro-economic indicators such as unemployment rate, inflation rate, and balance of payment among others, it is possible to detect whether or not there was an economic growth in each country, Russia and India in this research Economic growth is defined as the increase in production of goods and services that occurs over long periods of time