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Economics Essays

Perfectly Competitive Markets

A perfectly competitive market is a market where businesses sell identical products, and there are no barriers to entry and exit. Perfectly competitive markets are advantageous to new market entrants who are trying to minimize the risk of the business. The new market entrant will reduce the risk of failing because the business deal in ... Read More
Pages: 8       Words: 2059

Overview of the Current Economic Situation (US)

The United States economy is one of the most developed economies in the world, and the nation also has one of the world’s most advanced financial systems to cater for their fast-paced economy. The U.S. economy has major significance on a global scale, since it is one of the richest nations, thus, a decline in ... Read More
Pages: 3       Words: 705
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Summary and Evaluation of the Article “Underemployment in the Australian Labour Market” by Chambers et al., 2021

Summary Chambers et al., 2021, examine Australian underemployment, and they offer recommendations on how to increase employment in Australia. When there is a surplus of labor, employed people prefer to work longer hours, which drives up the number of people employed part-time. Labour markets have been adjusting to changes in demand over the past few ... Read More
Pages: 3       Words: 766

Impact of Micro Small Businesses to the Economy

A micro business refers to a small business that functions on a small scale. It often employs fewer than 10 employees and functions as sole proprietorships. The earnings of a micro business may be less than $250,000 annually. According to research, many owners of micro-businesses have reported having started their businesses with less than $ ... Read More
Pages: 5       Words: 1244

Yet Mercantilism Continues To Have Followers

Mercantilism is an economic system that promotes self-sufficiency through a favorable balance of trade built to acknowledge national power. The mercantilism system is focused on accumulating resources and wealth while maintaining a positive trade balance with other nations. The economic system is based on minimizing imports and maximizing exports, and therefore it is regarded as ... Read More
Pages: 7       Words: 1720

Visualization of the Impact of COVID-19 on the Gross Domestic Product (GDP) in the UK

1.0 Knowledge Building The COVID-19 outbreak in the United Kingdom has had substantial socioeconomic effects on the community, which must be acknowledged to motivate rapid governmental actions. School closures, movement restrictions, social gathering bans, and limitations on economic activities have all impacted the socio-economic status life of the United Kingdom, resulting in stress such as ... Read More
Pages: 12       Words: 3263

The Voluntary ‘Real Living Wage’ In The UK

A real living wage is the smallest sum of money necessary for a worker to fulfil their daily needs. A livable wage is regarded as compensation that permits a worker to maintain a basic but acceptable standard of life without the need for state support. Because the phrase “needs” is so ambiguous, there is no ... Read More
Pages: 7       Words: 1780

Post Brexit Effects on Logistics and Manufacturing of Goods

Introduction The current economic climate and the impacts posed on the trade and logistics industry has affected almost every part of the world, by the increased restrictions and outweighed immediate economic impacts. Further, it is evident from the market studies of different companies that Brexit effects in the overall economic harm posed to the organizations ... Read More
Pages: 3       Words: 781

Gross Domestic Product and Its Components

The gross domestic product commonly abbreviated as the GDP is an index of a country’s entire economic output. It is the total value of everything produced within the boundaries of a particular country irrespective of whether it is the production of the citizens or foreigners. The nominal GDP measures the size of the economy in ... Read More
Pages: 3       Words: 776

Essentials of Statistics for Business and Economics

Statistics plays a key role in the decision making process in all successful businesses. Accuracy in decision making is the word for any entrepreneur that wishes to succeed or is already successful. He/she must know their market and its need for the company’s product and deduce from that the right course of action to take. ... Read More
Pages: 5       Words: 1242

The Current Taxation System in the USA Is Unfair

Introduction The concept of the fair distribution of the tax burden has always been a core issue among policymakers and the public alike. However, in the past few decades, Americans have grown increasingly dissatisfied with the taxation system. Indeed, a majority of Americans currently view the existing tax system as unfair for a good reason. ... Read More
Pages: 4       Words: 1061

Corporate Sustainability: JPMorgan Chase

Introduction Global warming has been a big issue facing the contemporary world and measures such as a circular economy have been suggested to reduce the impact of waste on the environment. To incentivize companies to adopt this new system, big companies have taken it upon themselves to implement these measures. One such company is the ... Read More
Pages: 13       Words: 3357

The Ronald Coase Theorem

The Coase theorem comes from the idea that firms exist to reduce costs due to transactions because of exchange and production. This thereby creates efficiency, which individuals cannot capture. In his article about the Federal Communications Commission, he states that without transaction expenses, initial property rights arrangements result I outcomes that are effective economically. This ... Read More
Pages: 3       Words: 567

Research Proposal: The Effectiveness of Monetary Policy Tools Under Fixed Exchange System During Economic Shocks (Case Study of GCC Countries)

Introduction, Background, and Rationale This paper aims to analyze monetary policy tools’ effectiveness under a fixed exchange system during economic shocks. Focusing on the GCC countries, the report illustrates how monetary policy strategies are ineffective under the fixed exchange system since a pegged exchange rate implies a country has no domestic monetary autonomy. In many ... Read More
Pages: 5       Words: 1183
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