Macro & Microeconomics Essays

Need of Government for Market Economies. Market economies need governments for a number of key reasons: i) Governments can keep track on formation of monopolistic or oligopolistic powers in a market economy. Monopolistic and oligopolistic structures can form within a market economy and lead to dominance of some suppliers in their respective markets.

U.S dollar has remained the dominate currency considered the global reserve currency with most exchange transactions being against the U.S. dollar. The U.S. economy has been severely affected by the 2008 economic crisis, which started with housing depreciation and spread into credit service facilities leading to collapse of several financial institutions.

Microecomics is a branch of economics that deals with the decision made by individuals at a personal level. The principle of microeconomics deals with the manner in which various individual organizations or individual consumers make decisions on how to manage the scarce resources that are available after evaluating the trade-offs and the costs In this research paper, we are going to make a study on the market structure of Wall-Mart supermarket, how it competes in the current market, its market power, how its market structure has changed over time, the nature of demand, the consumer setting, shape of the demand curve, the role of international trade, the cost structure, the nature of costs ( f

Generally, the production possibility curve above represents two types of goods namely; forklifts and automobiles. The horizontal movement represents all the resources that were used to come up with automobile while vertical movement represents all resources that were used to come with the forklifts.

According to the economic theory, shifts in the supply of labor caused by the immigrants leads to adverse changes in the competing workers’ wages. Such an effect is an important element in the study of the distributional effect and efficiency of international migration as well as in the reforms about the way to regulate the flow of population in the best way.

Globalization has brought revolutionary changes to this world. Business is one segment in which globalization exerted significant changes. Most of the prominent organizations are operating internationally or cross-culturally at present because of globalization. Countries are competing with each other attracting as much foreign direct investment.

Eastman Kodak Company is regarded as one of the leading multinational photographic and imaging component, services and materials company which is holding a major market share amid the retailers in photofinishing industry. There are two decrees that are affecting actions of Kodak which include the case of 1921 or 1921 consent decree, which prevented Kodak from stopping dealers from freely making sales of goods manufactured by competitors.

That is; price control is a form of government intervention in the country’s economy whereby the government agency utilizes its law-making power to regulate the prices at which otherwise voluntary private exchanges may take place. The two principal forms of price control are price ceilings and price floors (Newberry, 02).

The report will be wrapped up by making recommendations on the basis of the economic theory on which it is developed. This report has also presented some of the suggestions that the policy makers, economists and government of Vietnam can use as it would help in stimulating economic growth in the country.

Macro & Micro economics Name of the Student Name of the Professor Course Number Date Macro & Micro economics Doll Production Process There are varieties of dolls that are produced in the modern consumer goods market. Though there are certain machines that help to shape up dolls, the production of dolls is majorly a labor intensive method production that requires more of laborers than capital machinery equipments.

A deluge of statistical analysis and mathematical modeling in modern economics hides the real nature of its claims, particularly the concept of indifference that most economists rely on yet do very little about. Indifference means a consumer is not able to make a choice between two bundles because they come indifferent.

This greater number of road accidents creates greater fear for the people of getting injured or even dead. This creates a negative externality in the petrol market of the country (Hultkrantz and Lindberg, 2011, p. 3). In this context, the use of alcohol creates a significant amount of negative externality for the users.

For many years, the people who study Economics, especially in the field of macro-economics, have given an utmost importance on the study of monetary policy. It is very crucial in understanding the economic system of one country.Many people consider the country’s monetary policy as a complex economic subject.

According to the paper, the U.S. economy is straddled by a large current account deficit and foreign debt, and this dollar’s volatility have led other countries to believe that the dollar may no longer be stable reserve currency. This essay will try to determine whether a shift to the yuan is feasible in ten years as a replacement for dollar.

Safaricom’s market share in mobile network subscribers is almost 70% followed by Airtel Kenya, Orange Telkom and Essar Telecom which have their share being 15 % , 9% and 6% respectively (Nyabiage b). The telecommunication industry in which they operate is regulated by the Communication Commission of Kenya (CCK).

The main principle is that the welfare of both the community and individuals is best served when markets for goods, capital, land, labor and other resources are left to the “free play of supply and demand”, and when the state interferes as little as possible, in both the economic and the social sphere (Baumol & Blinder, 2011).

A producer acquires alternatives for using combinations of machines and workers and makes a decision concerning the most effective implementation of these factors. The optimal combination of factors can be found in those points that lie on the contract curve, which connects tangency points of isoquants of two alternative goods.

Real GDP The first series explored here is the growth of real GDP. The data is presented in figure 1 with the bars marking the recession periods. It should be noted that a recession is typically a period where the real GDP falls for 3 successive quarters.

Based on human practice, it is clear that the ontological priority of labor exists because no human activity is worthwhile without the provision of material conditions that guarantee activity among human beings. However, it does not mean that labor is the most valuable practice though some historical perspectives give labor such prominence.

The concerned authorities are entitled to set the minimum amount of wage for the workers. The indicators that minimize the loss of jobs as well as maintain international competitiveness is used to set the initial minimum wage. The general economic conditions are real and nominal rates of gross domestic product.

The assignment will talk about the effects of the fiscal cliff on the inequality of income levels. Reduction in income inequality is one of the prime concerns of any government. Studies show that most of the fruits of development have been accrued by the top earners and the high middle class while the society on the lower tier of the income pyramid remained out of the purview.

Globalization has become a defining process of the present age due to opportunities and threats it poses to across the globe. All the policy makers are now benchmarking their strategies with the impact of globalization. Globalization is widely facilitated and influenced by technological developments both in North and in the South.

Domestic Price in country A will be $10. (c) If tariff of $10 is imposed on imports from country B, country A will now import from country C at a price of $15 per unit. At a price of $15, following quantity will be imported: Domestic Price in country A will be $15.

The Civil Rights Movement of the 1960’s managed to liberate the African American racial groups but the constant influx of new immigrants to the American dream meant that new prejudices and cleavages were constantly finding their way into dominant social behavior.

UAE’s economy ranks fifteenth in the list of economies arranged in terms of their purchasing power per capita and sixth in terms of GDP per capita. It was almost five decades ago when oil was first discovered in UAE. At that time, UAE was merely an impoverished and tribal region situated in the middle of deserts.

Within the environment of the modern world, the process of transition has become a highly complex notion as nations such as China have seemingly transcended traditional bounds of the centrally planned economy and combined state-sponsored industries. The traditional structural boundaries of the transition economy still hold.

The professional quality of teachers has a major bearing on student achievement. Moreover, the teachers’ quality plays an imperative role in attaining desired educational outcomes for the students. However, in various scenarios, teacher quality is severely distracted by different internal along with external constraints.

Uncertainty in various outcomes of an event may make one be risk-averse. The lack of willingness to make a fair bet in a given event that has attached varied benefits and possible losses may subject one to pay more to avoid incurring huge losses. Perloffin his book, Microeconomics, defines risk premium as “the amount that a risk-averse person would pay to avoid taking a risk.”

The increase in the figure of illegal immigrants in the United States during the last 10 years, which is five million to twelve million, has led to apprehensions regarding the effects of illegal immigration on earnings and public investments, as well as the possible safety risks caused by illicit entrance into the country.

A recession period can be declared by considering the depressing economic growth, reducing the market demand as well as GDP, industrial production, reducing the flow of resources, etc. As per the economic theory of the business cycle, there are four cyclic phases of an economy i.e. slump, recession, recovery, and boom and these phases including the recession are quite normal for any economy.

This essay mainly focuses on assessment of the impact of economic conditions of the country on the decision to initiate business by British entrepreneurs. This decision is made on the basis of the net outcome from the positive and negative impacts from affecting factors. Among large number of factors, economic factors are most important.

The study of market structures is ideal for economies to identify their abilities to perform operations aimed at ensuring both short-run and long-run growth of the economy. Intense evaluation deciphers information to economists that all market structures may change to benefit the economy rather than the firms or buyers present in the markets.

The Great American Indigence At this juncture, when the inhabitant’s level of mankind is budding at an increasing rate, the resources available for the construction of various goods and services are inadequate. Thus, allocating resources professionally is the foremost task of all the producers in the modern world.

The United States crash of the housing market was an unconstructive event that transpired, which brought about a financial crisis, as well as subsequent recession, that started in 2008. The financial turmoil had long-lasting effects to the United States and European financial systems. The United States got into a deep recession with almost 9 million jobs lost from 2008 to 2009, nearly 6 percent of the nation’s workforce

Disposable income is a clear measure of people’s spending power. Based on variations in disposable income, the Federal Reserve policy will be directly impacted as well. In case that disposable income is announced with clear significant growth from previous months, there will be two clear effects. People’s purchasing power will increase.

Global health is one of the most sensitized issues on the global map. As centuries pass on, health issues become more significant in society. Coming up with solutions to create a healthy globe has been the aim of major international bodies. Over years, the seriousness of chronic and other diseases increased.

As the paper highlights the latter implies there is an increase in the quantity or value of the goods and services as a result of the productivity of the resources available in the economy while the former implies an increase in living standards, improvement in self-esteem needs and freedom from oppression.

This paper explores economic reasons behind Apple`s domination of the tablet market. In addition to its price advantage, Apple had the advantage of being able to sell its merchandise through its own stores. Apple mastered its manufacturing process. The iPad has firmly seated itself as the global leader amongst tablet PCs.

In the current world where price is a paramount factor, supply and demand of substitute products can be significantly influenced by changing customer interests. This paper will specifically analyze various factors affecting the supply and demand of cell phones with particular attention given to effects of macroeconomic events and global economy.

The Barter system was used when money had not developed. Thus there could be no investment of money and the exchange of goods and products occurred with the use of goods and products. However, the system encountered certain difficulties. Firstly, needs and wants often did not coincide and thus it became difficult to exchange goods and products.

There are mainly three subdivisions of the EMU but all the members have to be a part of the ‘third EMU stage’. Each of the member states that are part of the third stage is only eligible to use the Euro currency. In the recent economic epoch, it is analyzed that the economic structure of different nations in the eurozone is actually separate.

Political independence of FED Name: University: Political independence of FED It is apparent that financial sector plays a critical role in regulating financial matters in a country, particularly the Central Bank. However, political interference has been blamed for continued interference with how the financial regulators operate.

The market structures and their differences. The four economic market structures are monopoly, oligopoly, perfect competition, and monopolistic competition. The pricing, profit, and strategic decisions companies make vary depending on the economic structure in which the firm operates.

The London Olympics is to be held in the city between 27th July 2012 and 12th August 2012. It is to feature over 200 countries and this will involve over 10,000 athletes of world-class repute and 14,000 sports officials in 21 venues around London. The bid to host the event was led by the UK's International Olympics Committee and it was strongly supported by the UK government and the leadership of the country.

Free trade has remained one of the most debated topics since the 18th century. On one end of the spectrum are supporters of free trade who justify it on economic, moral, and social grounds. On the other end, however, are critics who claim that free trade is not justified on economic and socio-political grounds.

A market-based economy is largely self-regulating.  This type of economy leverages human behavior.  In his book, Naked Economics: Undressing the Dismal Science, Charles Wheelan states that “when the cost of something falls, it becomes more attractive to us” (10).  The converse is also true.  The price of a product settles where the supply meets the demand (15). 

Introduction In the recent past, more often than not, Game theory has been used to explicate the decision making and behavior of oligopolistic markets. Game theory illustrates that the cooperation between two players, and not competition, yields a more beneficial outcomes to both players.

Date US Deficit - International Borrowing The present US account deficit persists to go higher and higher, both in share of the US GDP and dollar terms. These tendencies have raised worries to the rest of the world on the sustainability of the US external position and where the state will borrow money from when it has massive debts from major countries.

Indeed, the wider ramifications of globalization are distinct in their interconnectedness of resources. It is fundamentally based on the interdependence of capital, goods, and services, including human capital that endorses global cultures and values. Hence, it can be concluded that globalization redefines power structure to create a new social order based on the interconnectivity of resources.   

Moreover, the author will have to take an examination the next morning. In the first case, it is assumed that the author has already prepared for the examination and does not need to study anymore. It is also assumed that the author is jobless. Driving to the concert will involve fuel cost.