Over the last decade, the influence of digital platforms has generated great progress. Large tech firms (Apple, Amazon, Facebook, and Google) have changed people’s lifestyles by providing services. These services, often free of charge, have changed the way people communicate and interact with others, shop, and find information. There are many advantages to such large digital platforms, however, they have...
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Oligopoly is one of the four market structures in the world and the other three are perfect competition, monopoly, and monopolistic competition. All these market structures have different features and characteristics that set them apart, but among them is a perfect competition that often serves as a benchmark for others. Indeed, perfect competition, in addition to promoting economic efficiency, provides...
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The minimum wage in America has been an ongoing issue for many underpaid workers across the country for years. The debate of the minimum wage raise has been around since the raise in 2007 when it was raised from $5.85 to $7.25, which is where it currently stands. Recently, there have been suggestions in Congress to raise the minimum to...
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As a wise person once said, shopping is cheaper than a therapist. Is that statement actually truthful though? Every year thousands, maybe even millions, of Americans fall into the dangerous cycle of materialism due to loneliness. Buying unnecessary and trivial products hoping that they will make their life just a little bit better. Later on, they realize the purchase of...
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Introduction The unemployment rate is a critical indicator of a nation's economic health and societal well-being. It represents the percentage of the labor force that is jobless and actively seeking employment. While a low unemployment rate is often associated with economic prosperity, a high unemployment rate can have detrimental effects on a nation's economy and its citizens' quality of life....
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There are wide-ranging effects on the economy when currency and stock markets move, whether on the domestic or global economy. The economic growth is significantly affected by market fluctuations resulting from technical factors such as inflation, deflation, demographics of investors and discount rates. Central banks consider exchange rates when it comes to monetary policy, controlling money supply for promoting economic...
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Inequality in the distribution of wealth is an issue in the majority of societies. The US faces a similar problem where there are considerable disparities in the distribution of income and wealth. The existing studies and statistics reveal that Hispanics are hugely affected since they occupy the lower end in the distribution of wealth and income compared to other ethnic...
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Businesses in the modern market are required to continuously adapt and adjust to the changes in the market in order to stay competitive. Competition is an important aspect of a market and is widely known to be the process of operating in a market concurrently with other competitors in order to gain profit (Riggs, 2015). In order for competitors to...
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This report will detail the current trends in three key economic indicators within Australia, and the impacts of these if they are too high, or too low. Economic indicators are a piece of economic data, that is used by analysts to interpret current or future investment possibilities. This report uses three economic indicators: inflation, unemployment and income/wealth distribution. It has...
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This report is based on analysis of oligopoly market, where the definition of oligopoly is discussed to identify the features and structure of the market. The main determinants of oligopoly market will also be discussed. The main element of this report focuses to find out how firms make their price and output decision in the oligopoly market, where Saudi Arabia...
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Considering the significance of teachers, their merit isn't recognized as high as compared to professional athletes, this value can be seen in the huge salary difference between the two occupations. The importance of teachers that should be considered is their contribution to society, they play a hand in the economic growth of the future, their role as individuals who not...
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The query of whether or not allowances are proper or wrong is one that has been argued for lots generations. Now it's your turn, as a determine, to determine whether or not or now no longer an allowance is an excellent manner to train your toddler approximately monetary responsibility. There are many motives given on why an everyday fee of...
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Retirement is something that is frequently postponed and worried about later, especially for people who are younger. For young adults, retirement feels like it’s still so far away, so it doesn’t feel necessary to start planning so early because it barely feels real at all. Younger folks occasionally believe that they have much more time to worry about their retirement...
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Abstract: Using time series data of the variables in the year 1980 – 2010 the present study tries to establish a causal relationship between exchange rate and foreign exchange reserves in the Indian context. Emphasis has been laid on understanding the impact of foreign exchange reserves on the exchange rate. India has accumulated unprecedented foreign exchange reserves and synchronously has...
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I’ll be honest, walking into my first economics lesson, I was skeptical, questioning if I had made the right choice. Growing up in Hong Kong, the city’s position as a major hub of finance and trade was an unavoidable fact, with both my parents working in the financial sector; the sound of the talking heads on television discussing the housing...
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Every year, the United States Treasury Department loses over $100 million on minting pennies. There is a heated debate between people who are in favor of the penny and people who believe the penny should be removed from circulation. The penny should be removed from circulation for three main reasons: the penny costs too much to make, citizens lose money...
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Assignment title: ‘Free Trade is not free in its present form’, discuss, with reference to the international trading system. I have read and accepted the University’s policy on plagiarism. I confirm that this is entirely my own work and that it has not been submitted for assessment as part of any other program. Signed: Date: ‘Free Trade is not free...
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“Fair trade is Essential” Many people claim that everyone benefits from free trade. Others argue that fair trade is more important than free trade because it can lead to free trade. If we lived in an ideal world where all things were equal, free trade would be excellent. Unfortunately, nowadays, the market is unequal. The following essay takes a look...
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What makes precious metals so “precious”? Precious metals are called so for a reason. The yearly production of these is quite limited. Their scarcity - is what breeds their value and uniqueness. There are three major highly valuable metals that you can trade with - platinum, gold, and silver. Precious metals have been serving mankind in various shapes and forms...
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According to the Cambridge English Dictionary, scarcity is the lack of certain resources, making it hard to achieve. In the context of economics, the lack of resources leads to the inability to meet the demands of the market. The reason scarcity exists in the first place is due to the consumption of the resource itself. The usage of the resources...
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During -17 the common monthly turnover in the Indian overseas exchange market touched about 175 billion US dollars. Compare this with the monthly buying and selling extent of about 120 billion US dollars for all cash, derivatives, and debt devices put collectively in the country, and the sheer size of the foreign exchange market will become evident. Since then, the...
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“What is meant by the neoclassical (free-market) approach to business and how does it differ from a Socialist school of economic thought? Discuss their implications for people in contemporary economies.” Today, the approach a business should take in order to be successful is often debated as it can have an impact on the contemporary economy. It could be said that...
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The Brusilov Offensive, which lasted from June to September 1916, was the straw that broke the camel's back for Russia. The war was lost when Russia signed the Treaty of Brest-Litovsk following the 1917 revolutions. This essay will argue that the 'June Advance' was not necessarily a military failure since it inflicted enormous losses on the Central Powers; however, when...
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Introduction Fair Trade, a term frequently invoked in discussions of ethical consumption and sustainable development, represents a significant movement aimed at fostering equitable trading relationships. While the concept might appear straightforward, its implications and operational mechanisms are multifaceted, warranting a comprehensive exploration. At its core, Fair Trade seeks to ensure that producers in developing countries are granted fair wages, decent...
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First of all, before talking about the economic problem and what follows it will be better to start with what is the economy as such. So, economics is a term we hear everywhere and is present in all human societies. It is a discipline that studies the description and also analyzes the production, the exchanges, and the consumption of the...
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Cocoa is used in a wide variety of products, ranging from cocoa powder to cacao nibs to beauty products to chocolate. However, Nestle, one of the biggest companies that sell such products, does not use Fair Trade Certified cocoa. Instead, they use Rainforest Alliance-certified cocoa, which can be harvested from farms that utilize child labor andor slavery. Although they promised...
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Fair trade is defined as when third-world countries pay producers in third-world states a fair price for their work. It is when the price is paid for products that give producers enough to offer life's basics like food, education, and healthcare. How fair trade works is essential as the identity in understanding the benefits of purchasing appropriate trade products. It...
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The Italian economy has been hit by a deep-seated political and economic stir which has led to an unprecedented financial crisis. Italy is the only eurozone country to enter recession in 2018 after two consecutive quarters of contraction in the business cycle. Alongside the 2010 debt crisis of Greece and 2018 currency crisis of Turkey, Italy stands alone to be...
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The boom of South Korean pop (K-pop) originally expanded to few Asian countries in mid-1990s; however, in early twenty first century, it has gained global popularity in the twinkling of an eye. The latest BTS – a Korean idol group which consists seven boys - got the first place on America’s Billboard album chart (Dal and Lee, 2019). It was...
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Introduction The mercantilist economic doctrine, which dominated European thought from the 16th to the 18th century, emphasized the accumulation of wealth, particularly gold and silver, through a positive balance of trade. This doctrine profoundly influenced the development of colonial economies, particularly those based on sugar plantations and the transatlantic slave trade. The sugar plantations of the Caribbean and the Americas...
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