Category: Economic

Table of Contents The Black Market: Traffic and The Shawshank Redemption Development Economics: Modern Times and Thunder Bay Labor Economics: Roger and Me and Norma Rae Agricultural and Environmental Economics: Enrin Brockovich and The River Conclusions The Black Market: Traffic and The Shawshank Redemption The main economic feature of any black market or market for…

Table of Contents Creative Destructive Power: The power of technology Under an evil star The government can kill growth Corruption and Growth Polarised people In conclusion, the view from Lahore Creative Destructive Power: The power of technology In this chapter, the author begins by highlighting technology as a force that is used to curb poverty.…

Peru is a multiethnic country in South America; it has a population of 30 million, which consists of 45% Amerindian, 36% mestizo, 14% whites, Chinese, Japanese, blacks, and others take the 5% (Demographics of Peru, n.d.). In terms of age distribution, those below the age of 15 are 30%, 15 to 64 years are 64%,…

Table of Contents Introduction The Basic Economic Problem Market Process vs. Command Process Approaches to the Problem The Difference Between Economic Profits and Accounting Profits The Role of Implicit (Opportunity) Costs in Investment Decisions Conclusion References Introduction Dealing with economic questions is a highly significant element of any government’s work. In order to provide citizens…

Credence goods are special kinds of goods that have qualities that might not be detected by customers subsequent to their purchase thus making it rather intricate to appraise their utility. In other instances, they are usually referred to as expert services. Each of these professional products is based on the universal fact that the supplier…

Europe has been affected massively by the economic crisis. Some nations in Europe have suffered massively and are dragging the entire European economic block behind. Such nations include Spain, Greece and Portugal. While some countries such as Germany and United Kingdom seem to have recovered fully from this crisis others haven’t. One of the key…

The relevance and accuracy of economic statistics are among the most significant challenges nowadays because statistics represent a particular country and identify its position in the global economy. At the same time, the accuracy of national statistics affects the perception of a country in the international arena because it determines whether national institutions can be…

The Middle East constitutes of a significantly diverse economy attributed to the variety of economies in individual countries, which include exportation of oil and hydrocarbons, socialist and free-market economies. The thriving oil industry in the Middle East has greatly transformed the overall economic growth rate of the region, which analysts estimate to be about four…

Table of Contents Introduction Diagrammatic illustration Externalities Consumer surplus Income elasticity of demand Production possibility of diagrams A shift in the production possibilities frontiers References Introduction At the opposite extreme to perfect competition, there is the situation where there is only one producer in the market. Such a situation is described as ‘monopoly’. Under perfect…

Table of Contents Introduction European economic debt crisis Conclusion References Introduction Global financial crisis which too place in 2008-2012 was the worst financial crisis of the time which can be compared to the great depression of 1930’s only (Dick 2009). This global crisis is also known as the great recession or the late 2000s financial…