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2.2 Economy of North America………………………………………... 7
The topic covers opportunities for allocation of capital as a scare resource that has to be allocated in many ways. Others see prospects in monopolistic environment, while others perceived the pure and natural monopoly more advantageous for their particular intention.
Economies of countries differ because of economies of scale. This results to differences in GDP of poor and rich countries. We also see that aggregate demand is affected by price levels that either lowers or raises income and eventually influences balance of trade. Also, we have come at a conclusion that capital is the backbone of any business, but there are several decisions needed before a business could be established.
Economics is a social science that studies production, distribution and consumption of goods and services. By extension economics also studies economic system, human welfare the creation and distribution of wealth, and the scarcity and alternative uses of resource. Under this definition, this study looks at the different market structure in a monopoly environment, examines the economy of selected countries, and studies the capital structure of business in order to understand the process of distribution of wealth.
A monopolistic competition is a form of an imperfect competition which results from the differentiation of products by sellers. Dean, J. (p. 51) describes monopolistic competition as a situation where there are many sellers and no one can claim of control of major part of the common commodity. For example, McDonalds cannot claim a monopoly of hamburger sandwich as many others are selling the same product. McDonald differentiates its product thru advertising and promotion. Chart below shows a monopolistic competition which shows that on a short run basis, profit margin is comfortable for
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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
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.
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.
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
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
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.
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
r, in the recent past, GDP as a measure of economic activity has come under sharp criticism for not putting into consideration other various significant aspects of the economy. A lot of extensive literature, both empirical and theoretical has been prepared by various notable
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