Category: Economic

Table of Contents Introduction Main body Conclusion References Introduction To start with it is necessary to say, that global economic politics faces two main problems in the recent few years. These challenges are all over unemployment and continuous inflation. But on the whole, the global economy concerns not only unemployment and inflation, but also economic…

Table of Contents Abu Dhabi oil industry Challenges Conclusion References The United Arab Emirates (UAE) is among the top ten oil-producing countries in the world. Located in the Arabian Gulf, the UAE demographic statistics indicate a population of about 4.32 million people with a free-market economy. Additionally, the country does not restrict private-sector enterprises and…

Table of Contents Economic Growth Factors Contributing to Productivity Growth Free Trade References Economic Growth The article by Leach et al. (2021) deals with the considerations of economic growth as countries deal with the outcomes of the COVID-19 pandemic. As the health crisis brought global economies to their knees, it was urgent to consider the…

Needs are those motivations that make people act and develop. The same is true for the country’s economics. While human beings require clothes, knowledge, and interactions, enterprises need equipment and labor (Dopfer & Potts, 2015). Taking into consideration the fact that the world’s population is growing and the number of businesses increases rapidly, it is…

Introduction The Southeast Asian peninsula is made up of the countries that are geographically positioned south of China, north of Australia, and east of India. The peninsula occupies a landmass of 5 million square kilometers. Southeast Asian people share a number of somatic characteristics. However, there are significant variations in relation to population size, religion,…

Introduction Decision making is very crucial in any context of economic decision making. Part of this decision making is individual decision making. Principles of individual decision making entails the principle of tradeoffs, the principle of opportunity cost, the principle of rational margin and the principle of incentives (Mankiw, 2008 p.6) The principle of trade-offs According…

The phenomenon of scarcity has a distinct effect on economics. By shaping buyers’ behaviors and the choices that they make in the environment of specific markets, scarcity leads to the necessity to prioritize one’s goals, thus, affecting the decisions that customers make when selecting specific items on their shopping lists. Even though scarcity implies that…

The argument that supports the free market is most likely based on the belief that its participants are always just in their decision making (Bauman, 2017). Therefore, if both parties have the integrity to propose fair deals and offer goods at reasonable prices, they can benefit from every transaction (Philo & Miller, 2014). However, this…

Table of Contents Political instability Environmental issues Health issues Inflation Recommendations Conclusion References Thailand is a Southeastern Asian state that endured sixty years of military political governance from 1932 until 1973 when a democratically elected-government assumed office. After the change of governance, the country has been experiencing growing economic growth rate; however the country heavily…

A modern market economy cannot function in isolation, market transactions occur inside a set of regulations, and a person must uphold these regulations in a position of authority. Along with its laws, the government upholds contracts, other agreements, and understandings between the various parties engaging in economic transactions. The government occasionally establishes guidelines that specify…