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Economics Essays

Winners of the Low Touch Economy

The “Winners of the Low Touch Economy” report details how society and the economy have changed due to Covid-19. Low-touch encounters, health and safety regulations, novel consumer habits, and long-term structural changes in key industries are all hallmarks of this period. The report details how businesses may rebound and expand in the face of the ... Read More
Pages: 7       Words: 1794

The Role of Government and the Impact on Politics

The main aim of government involvement in the economy entails providing social services and a legal framework that allows equal distribution of goods and services in the economy. Government involvement helps to protect consumers from exploitative private entities and ensure equitable distribution of goods and services in the economy. Through specific state and federal agencies, ... Read More
Pages: 5       Words: 1345
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The Concept of “Invisible Hand” in Economics

The word invisible hand in economics is a metaphor that signifies all the unseen forces moving the free market economies. The best interests of society are always fulfilled through the consideration of the freedom and self-interest of different individuals to consume and produce. A constant interplay of personal pressures on market demand and supply results ... Read More
Pages: 3       Words: 606

State of the Economy Project

Introduction This paper aims to provide information concerning the economy and explain in detail some of the economic concepts that are vital to understanding how a country’s economy functions. Economic Indicators For starters, economic indicators inform economists and investors about the economy’s progress, specifically whether an economy is expanding or contracting. Essentially, economic indicators use ... Read More
Pages: 7       Words: 1855

Most Important Debatable Economic Problem in 20 Years

Introduction According to a UN estimate, the world population will increase to 8.5 billion people by 2030. Consequently, the world must start planning now to ensure that sufficient food is produced to sustain the expanding population. Most governments and non-governmental institutions have heavily invested in the agriculture industry to provide enough food for the people. ... Read More
Pages: 6       Words: 1619

Minimum Wage in the USA

Introduction The federal minimum wage in the United States currently stands at 7.25 USD per hour. This standard has been enshrined in the Fair Labor Standards Act. A minimum wage is crucial for low-income families to make ends meet. Statistics show that an hourly wage of 7.25 USD for a family of three would still ... Read More
Pages: 8       Words: 2140

Market Structures and Pricing

Abstract Market structures play an integral role in society due to the determination of how people will create, offer or exchange products and services of value. Hence, the structures describe the competitive landscape for the commodity or service. The market comprises the firms and customers willing to sell and buy the actual product or services. ... Read More
Pages: 12       Words: 3207

Implementation Plan for a New Economic Opportunity

The economic initiative proposed to Northwell Health is the establishment of a cafeteria with healthier and organic options to improve the health of patients, employees, and visitors through a partnership with Whole Foods Market. Whole Foods Market is a USDA Certified organic grocer that sells products free of hydrogenated fats and artificial colors, flavors, and ... Read More
Pages: 6       Words: 1616

Impacts of Losing a Job on Standards of Living

A job is a fundamental aspect of life. As of 2021, 59% of the US population relied on their jobs for individual basic needs and providing for their children (Statista 1). Besides, nearly every individual is introduced to education and other activities necessary to provide adequate and relevant skills to help them get a decent ... Read More
Pages: 3       Words: 694

Hyperinflation in Argentina

Introduction In the economic world, most countries at one time have experienced Hyperinflation, which has had a significant economic impact on a country’s growth. Hyperinflation is defined as an excessive increase in prices in an economy. Hyperinflation can be confused with inflation, but these two differ. As inflation focuses on measuring the pace at which a country’s ... Read More
Pages: 11       Words: 2753

Grocery Sector in New Zealand

Executive Summary The report represents New Zealand’s study of the retail grocery sector. From the report, it is evident that groceries are a vital part of household consumption. The report indicates that over $22 billion was spent in 2021 purchasing groceries from supermarkets. The study’s main outcome was that competition has not been effective among ... Read More
Pages: 12       Words: 3107

Economic Inequity in Australia

Background Economic inequity is the unequal distribution of income and economic opportunities between different people and groups in a society. Economic inequality is a concern for all nations all over the world. Considering the world wealth distribution, the majority of wealth is held by a few nations or individuals, with a good number of the ... Read More
Pages: 6       Words: 1596

Does Technology Wreck the Middle Class, or Do We Reap the Benefits of Mechanization?

Mechanization encompasses moving from a traditional society to an industrialized and urbanized society. In agriculture, the process increases productivity, efficiency, and quality, reducing labor, human drudgery, and cultivation costs. Despite its advantages, mechanization wrecks the middle class. It disheartens them, renders their services monotonous, and the work environment intolerable. Mechanization reduces the employment rate of ... Read More
Pages: 3       Words: 606

Development Approaches and Best Approach for Economies of Developing Countries

Introduction Development in economics refers to improving the standard of living of a country’s citizens. Economists have been on their toes to study the economy and growth of a nation. This can be done through various approaches such as economic growth, structural theory, development economics, and poverty alleviation. Development is a complex issue, and economists ... Read More
Pages: 5       Words: 1347

Applying Economics to the Real World

Case1: Government Spending and Taxation The government finances its spending through treasury bills, borrowing, and taxation. Different forms of taxation are the main sources of government revenues. Taxation allows the government to collect a common pool of funds to finance social projects which are sensitive to be left in the hands of private investors. The ... Read More
Pages: 8       Words: 2082
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