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Economic Theory Essays

Book Review: The Wealth of Nations by Adam Smith

The target audience for the book and who would greatly benefit from it. Adam Smith’s primary intended audience for The Wealth of Nations is people who have an interest in economics, political economy, and the principles of capitalism. It is a resourceful book for students, those who do research, and economists to have a clear ... Read More
Pages: 6       Words: 1607

The Theory of the Leisure Class

In the “Theory of Leisure Class,” Veblen argues that people in society exist in social classes because of social stratification. He talks of priests and chiefs as the leisure and middle classes as the dynamic people. The leisure class consists of wealthy people who do less or no work, whereas the middle class is based ... Read More
Pages: 5       Words: 1254
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Essay on Monopolistic Competition

Abstract This term paper investigates the economic theory of monopolistic competition and its applicability to the modern business environment. In the study, monopolistic competition and its effects on a variety of industries—including technology, healthcare, and retail—are examined in three news items. The literature review contrasts and compares the writers’ viewpoints and provides significant facts, figures, ... Read More
Pages: 6       Words: 1512

Fuel Diesel Industry

Introduction The fuel diesel industry is a vital part of the U.S. economy and is heavily impacted by policy decisions made by the government. The fuel diesel industry is vital in providing energy for transportation, power generation and industrial activities. As such, any policy changes, both fiscal and monetary, will have a significant impact on ... Read More
Pages: 5       Words: 1310
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