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Critical Infrastructure Sectors

Introduction Critical infrastructure involves assets, systems, networks, and facilities that are crucial for the proper functioning of the society and economy. Society relies upon them to manage national security, public health, and safety as well as the vitality of the economy. Things like the power we use in our homes and businesses, the water that ... Read More
Pages: 7       Words: 1887

China Tourism and Economics

China’s Tourists demand Income and pricing influence tourist decisions. The majority of empirical research has concluded that a destination’s income elasticity of tourist demand is positive and larger than 1, implying that international tourism destinations are superior-good (OECD, 2016). According to consumer behavior theory, increasing destination costs diminishes demand while increasing the desire for alternatives. ... Read More
Pages: 4       Words: 862
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Essay on Rational Choice Theory

Introduction Economists developed the rational choice theory, which includes applying microeconomic concepts to studying and explaining political behavior. The theory is also known as public-choice, formal, or social choice. This particular theory is interested in developing public policies that lead to better public interests. Its other goal includes enhancing the public policy formulation process. The ... Read More
Pages: 8       Words: 2164

A Research Study Assessing the Impact of Coronavirus on the UK Economy

Abstract COVID-19 pandemic is one of the most world deadly viruses that has affected many nations from almost all perspectives. Many countries put very stringent measures on mobility to stem the transmission of the virus, bringing economic activity to a halt. This research uses questionnaires, semi-structured interviews, and data from last financial setback to anticipate ... Read More
Pages: 33       Words: 9035

The Theory of Public Goods

A public good is a commodity whose cost of production does not change with a change in the number of consumers (Samuelson, 1954). An example of such a good is street lighting, the cost of street lighting does not change with an increase or decrease in the number of users. Another aspect of a public ... Read More
Pages: 5       Words: 1118

Importance of the Digital Economy to the People and Government

Decades ago, the idea of cloud computing, the internet, big data, or novel innovations in technology and the emergence of global economies built around fintech would not have been conceivable. Now, these are the drivers of 21st-century economies. The digital economy offers a new way of doing business for global economic development and inclusion (Gaziz ... Read More
Pages: 3       Words: 801

Origins and Implications of the Liberal Capitalist Market Theory

Capitalism, like the Enlightenment, is thought to have bloomed around the middle ages and, like the Enlightenment, resulted in the decline of organized religion. In fact, the Catholic Church of the Middle Ages was the epicenter of capitalism’s early blooming. Max Weber traced capitalism’s beginnings to contemporary Protestant towns, although historians today find it much earlier ... Read More
Pages: 5       Words: 1340

Michigan Road Funding

Introduction Natural and state resources require enough money to remain at their utmost standard. These resources include roads, dams, and forests. The governing bodies around these sources are responsible for foreseeing their maintenance. They have to incur some costs to do so. Each state in the United States has different means to find the relevant ... Read More
Pages: 6       Words: 1503

Market Inefficiencies Due to Misaligned Incentives

Individuals performing on their own can achieve best outcomes below precise most extraordinary conditions. That is, occasions wherein nobody may be made higher off without rendering others worse off. These individuals need to be logical and nicely-informed, and they have to function in aggressive markets that cowl the complete spectrum of credit score markets and ... Read More
Pages: 19       Words: 4961

Market Concentration and Market Power in Healthcare Industry

Market concentration is an economic jargon used to refer to the measure of competition in the market amongst small firms. On the other hand, market power is also jargon in the same discipline used to imply a firm’s ability to monopolize service production even amidst stiff competition. Market concentration is measured using the HHI, whereby ... Read More
Pages: 3       Words: 658

Macroeconomy of Poland and Armenia

The state of the country’s macroeconomics is one of the most important factors determining its success. It places a strong emphasis on the performance of the economy, changes in economic production, the balance of payments, inflation, interest rates, and foreign exchange rates, among many other things. Furthermore, macroeconomics describes the overall behavior of the entire ... Read More
Pages: 8       Words: 1987

Macroeconomics – Demand-Side Policies and the Great Recession of 2008

Introduction An economic recession refers to a massive decline in economic activities concerning industrial production, employment opportunities, the country’s GDP, and real income. A significant reduction in aggregate demand brings about a recession for at least two quarters within a particular financial year. In many incidences, an economic recession occurs when the federal government imposes ... Read More
Pages: 4       Words: 972
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