23 Mar 2015
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Stock markets have received a great deal of attention, both as a source of financial development and ultimately economic growth, and in the context of large swings in stock market valuation. The depth of a stock market as captured by the market capitalization is an important measure of one aspect of financial development. The role of stock markets as a part of financial markets in economic development ...
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23 Mar 2015
7 (2,678 )
Fiscal Policy's first word Fiscal is taken from French word Fisc which means treasure of Govt. Fiscal policy concerns itself with the aggregate effect of government expenditure and taxation on income, employment and production. It refers to the instruments by which a government tries to regulate or modify the economic affairs of the economy keeping in view certain objectives. Thus, fiscal policy is a package of economic measures of ...
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23 Mar 2015
5 (1,946 )
Monopoly is a market structure where there is only one firm in the industry. In fact, there are many factors leading to an occurrence of monopoly, such as barriers to entry. However, barriers must be high enough to block the entry of new firms under the situation of monopoly. I would like to start with economies of scale. Economies of scale occur when increasing the scale of ...
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23 Mar 2015
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For the last two decades international business has taken a new form due to increased global activity. The business world has witnessed a phenomenal integration of various businesses forming a global network which spread across political and geographical boundaries due to trade liberalization by many third world countries. Businesses are continuing to seek strategic assets in the overseas markets which enable them to gain advantage of various ...
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23 Mar 2015
4 (1,550 )
London was elected as favourite to host the 2012 Olympics ahead of major cities like New York, Moscow, Paris and Madrid. Needless to say, there was jubilation and celebration in the UK to celebrate this victory. Or was it really a victory? The bid was won in July 2005 and development and preparation plans started almost immediately with the creation of the London Organising Committee for Olympic ...
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23 Mar 2015
6 (2,356 )
The definition of price elasticity of supply (PES) means that the measurement of the changes in quantity supplied to a change in the price. There are few determinants of price elasticity of supply. One of the determinants is the ability of the suppliers to change the output. If the easier the supplier to change their outputs, then the more elastic the supply of a product will be. ...
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23 Mar 2015
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The following essay discusses the most serious obstacles to development in Less Developed Countries during the twenty first century. This paper analyzes those obstacles to development in LDCs based on the definition of the level of development and the components and criteria of the development measurement. So this paper argues that in the less developed countries, the most serious obstacles to development are high population growth, human ...
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23 Mar 2015
4 (1,473 )
The 'incidence' of a tax refers to who bears the burden of the tax. We can distinguish between two types of tax incidence: formal incidence, meaning who is legally obliged to pay the tax, and effective incidence, meaning who actually bears the economic burden of the tax. The formal incidence and effective incidence of a tax will often be different owing to the potential for the tax ...
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23 Mar 2015
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Indeed the emergence of economic theories for centuries has greatly influenced the direction of world development (Yang, 2003). Economic theories may have been the backbone of every fundamental global change that strongly navigated policies of nations including the framework of global institutional development. One of the major global institutional transformations took place in Bretton Woods 1944 which established the International Monetary Fund (henceforth the IMF). The IMF ...
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23 Mar 2015
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This case is comprised of various situations that deal with behavioral costs in order to maximize profits. The use of break-even analysis and opportunity cost is used along with recognizing and using the fixed and variable cost. The Hospital Supply, Inc. case is where they manufacture hydraulic hoists and have a normal volume of 3,000 units per month. Using a break-even analysis the determination of the sales ...
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23 Mar 2015
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The Economy of Malaysia is a growing and relatively open state-oriented and newly industrialised market economy.Malaysia, a middle-income country, has transformed itself since the 1957 from a producer of raw materials into an emerging multi-sector economy. Tin, rubber and palm oil remain important, but have been overtaken by new industries. Malaysia is now one of the world's largest exporters of electronics and electrical products. Malaysia's political and economic stability, prudent and pragmatic investor ...
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23 Mar 2015
15 (5,840 )
Sri Lanka has traditionally been an agro-based economy from the ancient times. With the Industrial Revolution taking root in Europe and later spreading to the rest of the world, Sri Lanka too had to take its place in this scenario. Factory scale production of ready made garments in Sri Lanka had its beginnings in the early 1950s to become the largest industry in the Sri Lankan economy. ...
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23 Mar 2015
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Superstar is a team use to describe that the people who got special who is widely known, prominent and successful to dominate the fields in which they engage and superstars normally earning enormous amounts of money. This essay is trying to explain and analysis this phenomenon in the labour market of sports industry. The reason for the superstar phenomenon might cause by many factors. Production in the ...
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23 Mar 2015
10 (3,990 )
Most of the countries tried to reestablish the gold standard after World War I, but it had been totally collapsed during the Great Depression in 1930s. Some economists said comply with the gold standard had prohibited monetary authorities from increasing the money supply rapidly enough to recover the economies. Therefore, the representatives of most of the world's leading nations met at Bretton Woods, New Hampshire, in 1944 ...
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23 Mar 2015
6 (2,211 )
"If the (India-Russia-China-Brazil) relationship progresses, then you basically have the world's heartland- two billion people allied with a formidable technological power in Russia. That would be a disaster for the United States." Maynes [1] CHAPTER 1 INTRODUCTION 1. The bipolar world has long ceased to exist and the world is now moving towards a multi polar world with emergence of various regional forums with common energy, economic, climate and ...
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23 Mar 2015
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What was the economic significance of the Great Voyages of Discovery during the late fifteenth century? Compare the consequences for the Venetian Republic and Portugal. The Great Voyages of Discovery dates back to the late fifteenth century and this period can be termed as the 'Age of Discovery'. The Portuguese navigators had a major role during this period. The voyages had a long run impact on global ...
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23 Mar 2015
7 (2,504 )
Every country in this world has its own economic to develop their country and to rich their country. Each country has their own economic goals to improve their economic conditions. There are four major economic goals are price stability, economic growth faster than population growth, low unemployment of resources and equitable distribution of income and wealth. Every country, through its government, will endeavour to achieve this economic. ...
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23 Mar 2015
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Amartya Sen (2000) convincingly argued that poverty is not merely insufficient income, but rather the absence of wide range of capabilities, including security and ability to participate in economic and political systems. Franklin Roosevelt, the popular president of United States of America in 1932, referred to the American poor as the forgotten man at the bottom of the economic pyramid. Today the term `bottom of the pyramid' ...
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23 Mar 2015
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In order to understand the Ricardian equivalence view, suppose that government cut taxes today, and don't make any plans to decrease government purchases today or in future. According to conventional view this type of policy will increase consumption, decrease national saving and capital accumulation, which in turn lower long term economic growth. The argument of Ricardian equivalence by contrast states that there will be no alteration in ...
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23 Mar 2015
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ABSTRACT Cotton production is important to Pakistan's agriculture and to the overall economy. Nearly 26 percent of all farmers grow cotton, and over 15 percent of Pakistan's total cultivated area is devoted to this crop, with production concentrated in two provinces: Punjab (80%) and Sindh (20%). Cotton and its intermediate and final products (such as, yarn, textiles and apparel) contribute significantly to the gross domestic product (8%), ...
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23 Mar 2015
10 (3,968 )
There remains considerable theoretical debate regarding the causes, consequences and solutions for unemployment. Classical economics, neoclassical economics, and the Austrian School of economics argue that market mechanisms are reliable means of resolving unemployment.[citation needed] These theories argue against interventions imposed on the labour market from the outside, such as unionization, minimum wage laws, taxes, and other regulations that they claim discourage the hiring of workers. Keynesian economics ...
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23 Mar 2015
3 (1,072 )
In spite of the relevance of different techniques and data, the estimates of price elasticity of water demand in the majority cases show that it is inflexible. Income elasticity, which is the topic of a lesser number of studies, in the majority studies get a rate lower than 1, but then water demand also found to be inelastic with relation to income changes. Arbues et al. (2003), ...
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23 Mar 2015
7 (2,619 )
The consumer price index (CPI) is measurement of the percentage change through time in the cost of purchasing a constant group of goods and also services and it also representing an average pattern or index from the purchases made by the citizen in one specific period of time. The Index is started since 1967 = 100 (which is the based year) was the index for the Peninsular ...
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23 Mar 2015
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In OTC drugs, there is variation in labeling OTC drugs. Those OTC drugs which are exported to foreign countries are labeled in perfect manner, but that is in revise in Indian market. In India, OTC drugs are distributed in pitiable manner and it exhibits the lack of regulations in labeling. It is required to improve the labeling of OTC drugs. For achieving high-quality labeling, the following information ...
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23 Mar 2015
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Introduction This study will discuss the regulation and application of minimum wage between Singapore and Taiwan from the international comparative perspective. Singapore and Taiwan have the same economic background, which have experienced modern industrialization. However, these two areas adopt the different measures to protect workers from exploitation. First, this study will explain minimum wage. Then, the section of minimum wage policy between Singapore and Taiwan will introduce ...
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23 Mar 2015
12 (4,659 )
There is a debate on what the most appropriate method for a policy formulation, weather the policy cycle model or the Kingdon's garbage can model. Different policy areas may be a product of different policy processes. In reality, it can be seen that some policies may take long time to be ready to implement while other issues capture policy makers' attention and put in place shortly (Tiernan ...
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23 Mar 2015
3 (833 )
National income is defined as the investments and savings in a country's economy. Keynesian cross model shows the formula for equilibrium national income as; Y= C +I+ G+ (X-M); where Y is the national income, C is aggregate consumption, I is aggregate investment, G is government spending, X is exports and M is imports. The aggregate demand is an upward curve since it is assumed consumers demand ...
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23 Mar 2015
17 (6,717 )
The Schumpeterian model, developed by Aghion and Howitt (1992) is an economic growth model that includes technological improvements, or innovation. This leads to the process of creative destruction where the advancement of new technologies renders the old obsolete. To give a theoretical example, colour mobile phones have replaced the old black and white ones in stores. Also the advancement of mobile phone technology could mean less need ...
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23 Mar 2015
13 (5,192 )
Fiscal Policy is the action done by government in order to influence the economy of their country by adjusting government spending and taxation. There are few variables in economy which will be influenced by the actions which are the aggregate demand and the level of economy, the distribution of income, and the pattern of resource allocation. Basically, it separate into three categories which are policy concerning government ...
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23 Mar 2015
16 (6,047 )
This chapter provides an overview of the evolution of the consumption patterns of the Mauritian population. Next, it justifies the reasons for undertaking this research; the core of which is based upon representing the population as an inescapable 'victim' of VAT. An outline of the research objectives of this study is also listed. And the subsequent section centers on the obvious negative effect of a VAT increase ...
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23 Mar 2015
17 (6,540 )
Panel data analysis has appeared in tourism demand research (Eilat and Einav, 2004; Garin-Munoz, 2007; and Naude and Saayman, 2005). The panel data models that were used in the literature are pooled logit regression, the generalized method of moments (GMM) procedure of Arellano and Bond (1991), generalised least squares (GLS) panel data regressions, and ordinary least square (OLS) panel data regressions (which comprise of fixed and random ...
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23 Mar 2015
4 (1,416 )
In an economic system, there are three sets of decisions need to be made. What to produce, how to produce, and how to allocate the product of the economy. In a free market economy, the answers of all these three sets of question are determined by buyers and sellers interacting with each other in a free market which is not controlled by the government or any authority. ...
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23 Mar 2015
5 (1,858 )
Outline the current nature of world trade and examine the extent to which economic trade theories of international trade explain this. This essay will outline and discuss the current nature and pattern of world trade in contrast to international trade theories. It will attempt to justify whether these trade theories are able to explain and predict the causes of current trade patterns and whether the assumptions fit ...
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23 Mar 2015
9 (3,319 )
Conclusion: In context of the above report we can conclude that the healthcare industry in india is poised for a quantum growth. The key drivers being the favourable Political environment, regulatory framework, shift to lifestyle related diseases, growing middle class and their preferences for healthcare, Health insurance awareness and reach, advancement in technology and last but not the least medical tourism. The concept of medical tourism is ...
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23 Mar 2015
7 (2,523 )
Propose reasons why some believe that the current form of globalisation has brought poverty and hardship to millions of workers. Globalization and types: According to Joseph Stiglitz, Globalization "is the closer integration of the countries and peoples of the world ...brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital, knowledge, ...
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23 Mar 2015
5 (1,975 )
In study of economic, we had learned the economic system. Economy system is the structure of production, distribution of economic input and output and consumption of goods and services in an economy. There are 3 economic systems such as centrally planned economy system, mixed economy system and free market economy system. So, there are different country countries have different economy system. In Malaysia, our economy system is ...
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23 Mar 2015
9 (3,352 )
With the emergence of globalization, the need for entrepreneurship development has been recognized especially by the less developed countries. An attempt was made by Dr. Singha and Dr. Singha, to underline the importance of entrepreneurship development in an economy, especially in Manipur. Despite of its importance, the sector cannot be flourished in the State. How the business activities are disturbed in the state and the factors affecting ...
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23 Mar 2015
11 (4,161 )
We would be looking at the present state of agriculture in the state of Kerala in India which was once regarded as the finest supplier of spices during ancient times. Kerala's significance during the colonial era can be judged from the fact that the Dutch, Portuguese and the British competed against each other in getting a foothold in Kerala, thereby being in a position to control the ...
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23 Mar 2015
6 (2,067 )
Introduction: Keynesian economic theory has been named after a British, John Maynard Keynes (1883 - 1946). The foundation of his theory was on the basis of circular flow of money. Keynesian economics is one of the major schools of thought in the current era. Keynesian theory was popularized during Great depression period (1920 - 1930). Keynes argues against the custom of excess hoarding, non consumption or none ...
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23 Mar 2015
14 (5,515 )
Earlier a country's economic development was based either on the degree of specialization or diversification of a country's production and trade structure. Based on Adam Smith's concept towards division of labour and specialization for economic growth and development to Heckscher-Ohlin Samuelson (HOS) model of international trade, countries should specialize in producing and specializing in the goods in which they have a comparative advantage. However, after the Second ...
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23 Mar 2015
11 (4,179 )
Traditional Airport Ownership and Management Traditionally all the airports were owned by the public sector. The European airports in major cities such as Paris, London, Dublin, Stockholm, Copenhagen, Madrid, and Geneva were all owned by national governments. The airports outside Europe like Tokyo, Singapore, Bangkok, Sydney, and Johannesburg were similarly owned by their country's government bodies. Elsewhere, the major airports like in the U.S. were controlled by ...
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23 Mar 2015
4 (1,560 )
Adam Smith's chief contribution was to build a coherent and logical theory of how the economy works. The elements of Smith's theory were mostly already available in the writings of earlier writers. However, in these writings good ideas coexisted alongside numerous other useless theories. Somebody had to figure out which theories were useful and which were useless and combine the useful theories into a consistent and persuasive ...
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23 Mar 2015
4 (1,495 )
The theory of paradox of thrift is the idea that saving instead of spending can cause or deepen a recession. According to John Maynard Keynes, consumer spending is beneficial because one person's expenditure is another person's income. Therefore, an increase in savings would mean that businesses lose out on revenue and have to lay off employees who are then unable to save. As a result, increase in ...
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23 Mar 2015
9 (3,460 )
One prominent Cambridge economist, John Maynard Keynes, successfully introduced a new school of thought about government intervention. He believed that there can be unemployment but the economy can still find equilibrium. The government, through various expenditures, can fine-tune the economy in order to achieve the desired level of GDP. This theory is the foundation of the famous "Keynesian economics." In the last chapter, we discussed how we ...
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23 Mar 2015
16 (6,335 )
Vietnam is approximately 331688 km2 in area and occupied the eastern coast of the Southeast Asian peninsula. The northern part of the country part consists mostly of highlands and the Red River Delta. The south is divided into coastal lowlands and extensive forests. Because of differences in latitude and the marked variety of topographical relief, the climate tends to vary considerably from place to place. During the ...
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23 Mar 2015
4 (1,460 )
In 1776, Scottish economist Adam Smith called for an economy where people could engage in trade with citizens of other countries free from protectionist restraints imposed by government. Two-plus centuries later, the debate about the virtues and defects of his vision goes on. The issue is particularly complicated when discussing free trade between developed countries and those in the developing world. The latter often lack the leverage ...
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23 Mar 2015
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The Mauritian Miracle is the term used by economists to describe their astonishment of how well the Mauritian economy has been developing during the past decades. People were surprise that Mauritius' economy continued to grow when renowned economists predicted the contrary. Some reason brought forward for this amazing growth were a favorable human capital, cultural diversity, high life expectancy, good tropical climate, trade openness, high investment in ...
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23 Mar 2015
11 (4,349 )
Money laundering poses a serious threat to individuals, businesses, financial systems, markets and governments as this financial crime affect the health of human beings and destruct the development of a country, for example developing countries loses billions every year to countries such a Switzerland. In the recent years White Collar crime has become the potential threat to the continued existence of capitalists' economy , which now force ...
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23 Mar 2015
7 (2,638 )
Introduction In macroeconomics, general glut refers to there is a supply excess in all industries. There is a long time running debate on the general glut from the late 18th century. Many economists try to figure out if there is a general glut in reality. Normally, glut could be exhibited in a economic depression or recession with high unemployment rate and idle manufactures. However, Jean-Baptiste Say(1803) established ...
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23 Mar 2015
8 (3,131 )
As the world integrates through the creation of new intergovernmental agreements, known as trading blocs, every country expects to obtain and economical and financial benefit. This report describes the major trading blocs in the world, such as NAFTA, EU, MERCOSUR, and ASEAN, as well as their positions in the international scenario. It also argues the relationship between trading blocs and currency zones, whereas a trading bloc eventually ...
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23 Mar 2015
8 (3,157 )
The sole trader is a business owned by one person who is self-employed and why may, in some cases, employ other people on a full or part time basis. Normally using personal funds to start business, the sole trader decides on the type of goods or services to be produced, where the business is to be located, what capital is required, what staff(if any) to employ, what ...
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23 Mar 2015
4 (1,595 )
The salaries professional players earn in the world of sports today has been an increasing interest in the economics of sports, particularly to economists. Moreover, it is an important issue as to how and why sports stars earn huge salaries to the general public. Why something with little value towards society gain more revenues compared to something we invest more into such as education and health care. ...
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23 Mar 2015
5 (1,774 )
"The General Agreement on Tariffs and trade was negotiated during the UN conference on trade and employment and was outcome of the failure of negotiating governments to create the International trade organization." This organization was created in 1949 and run until 1993 then it was taken place by the WTO (World Trade Organization) in 1995. The GATT is working under the World trade organization. They created some ...
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23 Mar 2015
4 (1,407 )
Since 21st century, China's national economy has maintained a growth rate of about 10%, which is called a miracle in the history of the world economy (Cai, 2007). India's economy has also made remarkable progress. During 2002 to 2006, the economic growth rate reached 7.8%. Since the year 2003 2004, the Indian economy has shown continuous rapid growth: from 2003 to 2007, India's average annual economic growth ...
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23 Mar 2015
3 (1,160 )
Nestle is one of the worlds leader in the food processing and consumer packed goods industry. Founded by Henri Nestle in 1866 in Vevey Switzerland, it has become worldwide with almost 85 branches around the world specializing in a variety of products ranging from baby food, drinks and bottled water to confectionery and ice cream. (Micheloud & Cie, 2008) In the race to achieve a high market ...
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23 Mar 2015
6 (2,400 )
According to (HASHIM ALI,1999, page 40),price elasticity of supply is basically means the responsiveness of the quantity supplied due to a change in price. The factors that affecting elasticity of supply are whether the product is perishable or not. In other words, if the product is perishable, therefore when there is change in price, it won't affect the quantity supplied. Hence, the supply is inelastic For example: ...
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23 Mar 2015
4 (1,253 )
Back in the time the basic type of ships included container ships, bulk carriers, tankers, ferries, cruise ships and specialized ships. General cargo ships made up about 37% of the world's fleet in terms of deadweight tonnage (dwt), 25 % tankers, 14% bulk carriers, 12% passenger ships and 8 % container ships. The remaining 4% includes ships of specialized nature and which cannot be included in the ...
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23 Mar 2015
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Pakistan is among some of developing countries who have achieved an average growth rate over 5. Pakistan economy has been emerged as an economy with 27th largest in world in term of Nominal. Pakistan has a mixed economy, major decisions are taken by Government and private enterprise, and also economy is exercised by these both sectors. Pakistan economy also depends on its industrialized sector like agriculture, textile ...
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23 Mar 2015
7 (2,430 )
Demography is the study of human population dynamics. Population is shaped by a number of factors including fertility, mortality, migration and urbanization. Significant demographic changes have been shown in many parts of the world. The world population growth has been decelerating since 1970s. Fertility rates in more developed countries (MDCs) have been showing a declining trend, whereas an increasing one in the less developed countries (LDCs). Mortality ...
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23 Mar 2015
6 (2,061 )
This essay aims to identify main economic features of an oligopoly. An oligopoly is a market structure where few firms share a large proportion of industry output among them. This situation occurs when new firms are not able to enter the market and compete with existing firms and demand of output is not fluctuating. As under oligopolistic market few firms hold the market share, firms business decisions ...
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23 Mar 2015
8 (2,922 )
IMF and the struggle increase economic growth in Cambodia. Since emerging from the very darkest period in its history (POL POT regime) almost for four years, Cambodia has traversed a long way. From below ground zero, the country bounced back to rebuild the devastated economy and institutions. After the signing of Paris peace accord in 1991, Cambodia eventually had a formal election in 1993 and Cambodia has ...
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23 Mar 2015
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THE IMPACT AND CONSEQUENCES OF TAX REVENUE'S COMPONENTS ON ECONOMIC INDICATORS: EVIDENCE FROM PANEL GROUPS DATA ABSTARCT The change in components of tax revenue may result the change in the economic growth and other economic indicators. The previous studies found the significant effect of the change in tax revenue to the economic growth in a country. This study is the research to test if the components of ...
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23 Mar 2015
7 (2,643 )
The price elasticity of supply is the measurement of the responsiveness of producers on the changes in the price. The determinants of price elasticity of supply include time period and the existence of spare capacity. The first determinant is time period. Producers usually cannot provide more supply of their product in a short period of time immediately. The longer the time period, the more product will be ...
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23 Mar 2015
14 (5,290 )
Introduction In this report, we will analyze the economy of Mexico. The following steps would bring you to understand more about this place. According to those information, you will know how the economy growing in Mexico, the value of place and learn something from here. First, we would like to introduce the place about its information background. Then, we talk about the hospitality industry and leisure in ...
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23 Mar 2015
9 (3,456 )
The word poverty derived from Latin word pauper means poor. Poverty refers to the condition of not having the means to afford basic human needs such as clean water, nutrition, health care, clothing and shelter. Poverty is the condition of having fewer resources or less income than others within a society or country, or compared to worldwide averages. Poverty is one of the major social problems which ...
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23 Mar 2015
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Based on the economics view inflation refers to the increasing of the general level of prices of the goods and services in countries over a period of time. Inflation is when the prices of most goods and services continue to creep upward. It is measured by the Consumer Price Index (CPI). Each of the countries has their own level of inflation problem and they are tried to ...
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23 Mar 2015
4 (1,523 )
An oligopoly is a form of a market, in which any particular industry is dominated by few sellers which are also known as oligopolists. Originally this word is derived from Greek, which means "few to sell". Now since there is small number of smaller involved in a particular industry, this makes them very much conscious of the other players of the same industry. Rather, to be more ...
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23 Mar 2015
5 (1,760 )
In this Essay we are asked to pick a country in the European Union & analyse the change in one industry each of all 3 industries (primary, secondary & tertiary) since 1980-2010(30 years) In terms of Gross Value Added & Employment. Our Group Picked France a pivotal member of the European Union and 3 industries Primary; Agriculture, Secondary; Energy, Tertiary; Tourism. Overview France is the world's 5 ...
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23 Mar 2015
6 (2,171 )
Morocco is a country with a population of 33 million and its area is 710850 Km2, located in the North West Africa, officially known as "kingdom of Morocco". Morocco has a coast on the Atlantic Ocean, reaching the "strait of Gibraltar", into Mediterranean Sea. From north Morocco ahs water border with Spain, and land border with Algeria from east and Mauritania to the west. Morocco is a ...
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23 Mar 2015
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Explain why the Doha Round negotiation has failed to be concluded until today. The Doha Development Round or Doha Development Agenda (DDA) is one of World Trade Organization (WTO) efforts to liberalize international trade which was commenced in November 2001 with the objective of lowering trade barriers around the world. This allows countries to increase trade globally; permitting free trade between countries; to open agricultural and manufacturing ...
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23 Mar 2015
4 (1,578 )
Market system and command economy try to cope with economic scarcity by answering the three basic economic problems. The fundamental economic problem is used as a guide to allocate resources among individuals and society in order to satisfy their unlimited wants based on the scarce or limited resources. In a market system resources and factors of production are owned by individuals. Therefore, the individuals decide on what ...
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23 Mar 2015
8 (2,870 )
Bananas are a soft, long and yellow fruit that are cultivated in tropical climates. I eat bananas almost every day as they are in full stock in my home throughout the entire year. What I have failed to do in the past eighteen years of my life is consider how the bananas that I eat are cultivated, sent to Canada, and then enjoyed by me. This made ...
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23 Mar 2015
14 (5,524 )
The sovereign debt crises in Euro-zone have posed serious threat to the main economies of the Europe, the future of the currency Euro, and the global as a whole. The European Central Bank and other banks within the Euro-zone play significant roles in causing the problems, as well as solving the problems. This paper is attempting to study on the relationship between banks failure to the crisis ...
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23 Mar 2015
5 (1,750 )
On October 29, 1929, the stock market crashed, triggering the worst depression in United States history, lasting about a decade. This day became known as "Black Tuesday." During the 1920s, the unequal distribution of wealth and the stock market speculation combined to create an unstable economy by the end of the decade. The unequal distribution of the wealth had several outlets. Money was distributed between industry and ...
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23 Mar 2015
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INTRODUCTION 1.1 BACKGROUND Gross Domestic Product as an indicator of wealth and therefore quality of life has long been criticized (Mederly, P. and et al. 2003). Gross Domestic Product (GDP) is the value of total production of goods and services in a country over a specified period, typically a year. The gross domestic product (GDP) or gross domestic income (GDI) is a measure of a country's overall ...
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23 Mar 2015
9 (3,408 )
Hanjin is a shipping company based in Korea. It started as a container line trading in-between Korea and Middle East. It gradually increased its trading areas and started trading its container ships on all major trade routes of the world (Hanjin shipping, 2010). It merged with Korea Shipping Corporation in 1988 to form Hanjin Shipping co., Ltd. In 1997 it acquired majority interest in DSR-Senator Line to ...
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23 Mar 2015
6 (2,071 )
The basis for Reaganomics can be traced back to the late 1960s and 1970s when after two decades of steady growth and very low inflation the US economy suffered from exceptionally high inflation along with a very slow growth rate, a phenomena that became known as Stagflation. The continuously high unemployment rates throughout the 1970s were another feature of stagflation. This was caused by a number of ...
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23 Mar 2015
6 (2,136 )
According to the Encyclopedia of business (n.d), distribution channels are pipelines through which goods and services flow from the producer to the end user i.e. the consumer. The distribution channel can be short and direct implicating, a direct flow from the producer to the consumer, or it can be an opus of several interconnected, independent but mutually dependent, intermediaries or middlemen. Each ancillary in the distribution channel ...
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23 Mar 2015
9 (3,360 )
What is exchange rate? From the finding through investment dictionary, exchange rate can be defined as the one country's currency price expressed in another price of the country's currency. Also can be said, the rate can be exchange for another at one currency. For instance, the higher the exchange rate for one yen in terms of one euro, then the lower the relative value of the euro ...
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23 Mar 2015
6 (2,285 )
Any person wishing to import goods must declare them to the Director-General of Customs and obtain an import permit after necessary examination of the goods concerned. The formalities start with the lodging of an import declaration and end with issuance of an import permit after the necessary examination and payment of Customs duty and excise tax. The government announced an issue of a record JPY53.5 trillion in ...
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23 Mar 2015
6 (2,330 )
World Economic Forum, a Geneva based independent organization, yearly publishes the Global Competitiveness Report which provides rankings of the economic competitiveness of a country. This is based on 12 pillars of competitiveness at all stages of development. The Global Competitive Index (GCI) helps in ranking countries based on their competitiveness. A highly ranked country will determine a high level of productivity ("World Economic Forum", n.d.). Tajikistan has ...
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23 Mar 2015
19 (7,232 )
Brazil was one of the most closed economies in the world until it underwent a period of trade and financial liberalization between 1988 and 1994, exposing it to the full extent of globalization. This paper starts by exploring the concept and definition of globalization. An economic background to Brazil is given, followed by analysis of when globalization took place. This is found to be in 1993-1994 when ...
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23 Mar 2015
16 (6,352 )
Executive Summary This paper is a consolidated report of surveys on key issues and concerns to trade and investment in an ASEAN-GCC free trade environment. The researchers were able to make a schema of most likely issues and concerns that would be deterrent to negotiations for a free trade agreement on the ASEAN and GCC zones. The consolidated report is based on an intensive literature review. As ...
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23 Mar 2015
13 (4,909 )
The Harrod-Domar (CITE!!!) model developed in the 1940s was originally intended to analyse business cycles, but has since been adapted to economic growth. In the model, growth is dependent on the levels of labour and capital. As developing countries typically have a plentiful supply of labour, their growth is more dependent on physical capital and savings to create growth. Growth is achieved through net investment which will ...
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23 Mar 2015
11 (4,272 )
Nigerian economy, at first was based mainly on agriculture; it exported agricultural products like cocoa, rubber, palm products, cotton, groundnut, hides and skin etcetera. But then oil was discovered in the south-south of Nigeria i.e. Rivers, Bayelsa, Edo and Niger Delta states, and agric production was abandoned. The essay question is "What are the economic cost and benefits of oil industry in Delta, Nigeria?" The objective of ...
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23 Mar 2015
10 (3,916 )
I will like to focus my report on Grameen bank in Bangladesh. The patriarch culture in Bangladesh where women are treated as inferior to men restricts them from seeking wage employment. Their only source of income is self employment and they face difficulty in accessing individual lending programs. The labour force has been growing by 2.4% a year, while the agricultural, industrial and service sector can only ...
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23 Mar 2015
6 (2,362 )
Introduction The most significant economic event in 1990s was the Financial Crisis in East Asian, which also affected the world economy in the next few decades. People probably question the specificity of the East Asian Crisis. Radelet and Sachs (1998.p.1) gave a response to this question: 'The East Asian financial crisis is remarkable in several ways. The crisis has hit the most rapidly growing economies in the ...
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23 Mar 2015
5 (1,955 )
Our study investigates the importance of fiscal policy in economy of any country. There are a lot of variables that have relationship with fiscal policy and shows impact on economical growth. In our paper we have analyze the fiscal policy of Malaysia (Asian country) from 2010-2012 by referencing the past of Malaysia economy late in 1970s. Executive summary Fiscal policy describes two governmental actions by the government. ...
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23 Mar 2015
9 (3,585 )
The last chapter provided a brief explanation on the research area and its application for the economy of Pakistan. But the research needs to be further elaborated with the help of decent literature examination. This chapter undertakes the task of analysing different theories in relation to SME sector around the globe and provides a thorough understanding of dynamics involved in the growth of the SME sector. 2.1 ...
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23 Mar 2015
6 (2,020 )
The gender pay gap refers to the differences in average hourly earnings between male and female employees. In labour economics the understanding of the gender wage gap has relied on two conventional principles - the human capital and labour market discrimination theories. Both explanations are gender specific as they account for gender differences in skills or unequal treatment as the cause of the wage gap. Human Capital ...
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23 Mar 2015
8 (2,806 )
Energy and Oil is a strategic commodity and very valuable to everyday life. Millions around the world are affected if there is a significant change in the price of oil, especially if the prices increases. The price is affected by two factors, supply and demand. If the supply is steady, stable and adequate to meet up with world demand there wouldn't be an issue. But this isn't ...
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23 Mar 2015
5 (1,992 )
What is the role of the financial system? Name and describe two markets that are part of the financial system in the U.S. economy. Name and describe two financial intermediaries. The role of the financial systems is to help match one person's savings with another's investment in the economy. The bond market is one of the most important financial markets in our economy. The bond is a ...
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23 Mar 2015
4 (1,254 )
Unemployment is one of the major social problems affecting many countries in the world, US being no exception. Unemployment, also referred to as joblessness, is a situation where people lack jobs yet are actively searching for work. The most affected, according to research, are the youths who find themselves idle for lack of jobs after completion of their studies. The rate of unemployment is a measure of ...
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23 Mar 2015
4 (1,511 )
In as much as the great recession is coming to an end, the rate of unemployment in the US is on the rise. Before the era of unemployment ends, it will probably transform the character and life course of many unemployed Americans. It will leave an unforgettable mark on the economy of the US, particularly for those in formal employment. It might even lead to the divorces ...
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23 Mar 2015
3 (1,094 )
When people hear the word "recession", most of them may think about the negative effects only since most of issues about the recession mentioned by mass media are negative. However, there are some positive effects that an Austrian-American economist Joseph Schumpeter even called the recessions as "a necessary evil in capitalist societies". Despite the world recession menaced people, it corrects the unbalanced developments, creates chances for investors ...
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23 Mar 2015
5 (1,986 )
Financial crisis broadly refers to situations where some financial institutions or assets suddenly lose a large part of their value. In the 19th and 20th century financial crisis were associated with banking panics and many recessions coincided with these banking panics. Financial crisis is also synonyms with stock market crashes, bursting of financial bubbles, currency crisis and sovereign defaults. The financial collapse of 2007 refers to the ...
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23 Mar 2015
7 (2,631 )
The article ''We shouldn''t judge wellbeing by GDP alone'' gives a clear picture about GDP is not a perfect measurement of wellbeing. Roughly, the article outlines how GDP measure has become become the de facto measure of national welfare among a range of economic indicators, its limitations and shortcomings as measure of national wellbeing, the consequences brought with the flawed measurement and the attempt of shifting in ...
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23 Mar 2015
9 (3,233 )
In rural agriculture we observe the existence of various forms of contracts in the cultivation of land. More specifically, we distinguish between three forms of contractual agreements. In fixed-rent contracts the tenant pays a fixed sum of money to the landlord, the rent, and obtains the right to cultivate land in return. In a fixed-wage contract the tenant is paid a constant wage by the landlord. Finally, ...
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23 Mar 2015
3 (837 )
The circular flow of income is a macroeconomic model that was most prominently used by the classical economists in the post-great war era. It is used to describe the give-and-take nature of the circulation of income between consumers (or households) and producers (or firms)1. The model is particularly good if used to describe a closed economy where there is no trade outside of domestic markets. The circular ...
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23 Mar 2015
9 (3,562 )
India is a source of untapped resources, both natural and man-made. The huge subcontinent is a reserve of various minerals, natural wealth and manmade wealth left to be used. The huge population is a big asset for the country as it can be skilled as well as unskilled. The country has come a long way from the days of independence, taking long strides towards development and growth. ...
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