Elasticity of demand

The economic concept that is being displayed in this article is (Elasticity of Demand). Elasticity of demand is the responsiveness of demand to a change in the price of a good or service. To determine whether this is a inelastic or elastic demand we need to analyse the characteristics of each type of demand. Elastic … Read more

Marx – link between alienation and capitalism

Marx’s contempt for the capitalist society of which he was surrounded in is seen clearly in his Economic and Philosophical Manuscripts written in 1844. These focus on the issue of alienated labour of which engulfs the early industrialist society he lives in. For Marx, the link between alienation and capitalism is inherent due to the … Read more

Monopolies of wealth in the Gilded Age and today

Charles Darrow, maybe some people have never heard this name before, but the board game he invented is legendary. Everybody has played it before whether with friends or family and most people love it, even though it causes many fights and conflicts between the individuals. This game is called “Monopoly”, the legendary board game which … Read more

Economies, Resource Allocation and Price Mechanism

Section A: Microeconomics Question 1 A. Market Equilibrium (Fig. 1) Market equilibrium is the position at which the demand becomes equal to the supply and this helps in analysing the price which needed to be charged, and such price is known as an equilibrium price. The equilibrium price is the point where demand and supply … Read more

Indonesian economy factors

Section 1 Cultural Differences: As the world has become globalised, countries are opening up their economies to increase trade and decreasing trade barriers to set up business in another country. So before setting business in another country it is essential for the managers to understand the cultures of host country because every country has different … Read more

Analysis of article on Covid-19 written by Bill Curry

16th March 2020 The news story by Bill Curry “Liberals to unveil federal budget, economic package worth $1 billion in response to COVID-19” published in The Globe and Mail on March 11th 2020, summarizes the government of Canada’s current response to the global coronavirus pandemic. This article was chosen as it relates to the unit … Read more

Macroeconomic Issues and National Income

This case study will address the concept of inflation – the rise in average level of prices sustained over time that corresponds to a fall in the internal (domestic) purchasing power of money – with regards to Venezuela. The goal here is to explore several trains of enquiry in order to critically evaluate the impact … Read more

How young professionals imagine the economic in post-recession Peckham

Plenty, ‘cuts’ and ‘waste’: how young professionals imagine the economic in post-recession Peckham Abstract This report looks at how young professionals interviewed in Peckham in 2012 conceptualise the post-recession economy in the context of their personal household and the local borough. It takes a grounded theory approach to the secondary analysis of nine transcripts drawn … Read more

Economic development

Economic development is a fairly new idea that arose during the early twentieth century. Many theorists attempted to define economic development and to differentiate it from the concept of economic growth.According to economists, Gerald Meier and Dudley Seers, these two concepts are different from each other and they stressed that economic development cannot be equated … Read more

South Africa’s Triple Challenge Of Unemployment, Poverty And, Inequality

In his State of the Nation Address 2014, President Jacob Zuma, concedes that despite the achievements of the democratic government, South Africa ‘still faces the triple challenge of poverty, inequality, and unemployment’ (State of the Nation, 2014). This triple challenge of poverty, inequality and unemployment, is the democratic government’s biggest test to date. The arguments … Read more

Japan – economic stability

Bank of Japan’s (BOJ) assessment to adopt a negative interest rate to encourage borrowing, spending and investment has failed to have the intended effect as the Japanese government continues to accumulate a debt of 233% of GDP in late 2018. Lower interest rates imposed by the BOJ to revive the economy has failed to intensify … Read more

Economic globalization

Economic globalization is the process of increasing the financial integration amongst countries. Consequently, economic globalization leads to the development of a “global marketplace” or “a single world market”. Economic globalization is enhanced by the accession of multinational enterprises, which result into the rise of the profits of that “global marketplace”. It is hard to define … Read more

Globalisation has benefited everyone

Title: Globalisation has benefited everyone. It helped all the people to increase their living standards, brought advantages to organisations and businesses and enabled economies to develop.” Discuss Introduction We live in a self-regulating world. Countries are influenced by the economic health of other countries and by their governments’ policies. Problems in one part of the world can … Read more

Free Trade

Free trade is a trade where countries carries out economic activities ‘without restrictions or barrier such as import and export tariffs’, barrier to market entry and policies (Johnston, Gregory, & Smith, 2011, free trade). Many countries have reaped benefits from free trade and especially developing countries. Some benefits include improvement in infrastructures, expanded markets, access … Read more

Possible reasons why some regimes outlive others

Non-democratic regimes are forms of government which are controlled by only a small group of individuals, who “exercise power over the state without being constitutionally responsible to the public.”[1] According R. Tannenbaum and W. Schmidt, such regimes result in “autocratic leaders [ruling] by issuing threats and punishments and evoking fear”[2], while Freedom House suggest there … Read more