Economics

    Oil have been known to human being for very many centuries, the Eastern world historic literature have shown oil abundance, the Bible and the Apocrypha allude to oil exploration Noah  the legend tightened his ark seams using pitch indicating use of fluid bitumen at his time, the Deuteronomy have mentioned oil out of the flinty rock. Oil is believed to have been a major factor in the ancient Judea and Persia trade. The burning wells in Eastern nations like the wells of Baku...

In the globalization era, financial and economical policies are interdependent on the developed and developing countries. Even a slight change in the economic polices of one country might have a major impact on the other states. Tackling the economic growth with forceful action on both the financial and macroeconomic policy fronts is the need of the hour. Policymakers must be mindful of the cross-border ramifications of policy choices.  Macroeconomics identifies the driving elements behind...

The article I chose, titled Toyotas Big Recall Unlikely to Quiet Critics, is an article relating to consumer welfare. Because of problems in sudden-acceleration, Toyota has announced to recall a number of 3.8 million vehicles. It is one of their strategies to silence controversies and critics. A number of complaints of sudden-acceleration have been dismissed by the company saying such happened due to the drivers fault. The welfare of the consumers is greatly concerned in this issue since Toyota...

Ever since the raising of global consciousness on global warming, it has been a continuous trend for industries and consumers to recognize the importance of green technologies. In fact, aside from global warming, other factors such as environmental awareness, cost implications, and even the reduction of over all pollution either in developed economies or further growth in developing countries has played a major role not only in policy in government but also in private industries. Transportation,...

Theories of the FirmFirms are the wheels of modern economy. However, despite its benefits and utilities, the presence of firms is also the cause of many problems we know today. A firm represents an organization with all its complexities and barriers. In the worst case scenario, firms can be organizations that are hampering their members to obtain their goals, while in fact it was created to help people get what they need. Ultimately, intellectuals and young scholars are re-examining the justification...

The regression equation essentially incorporates various different factors that, in theory, should have a significant impact upon the demand for cigarettes. In accordance with the data and information provided through the application of the T-test, we can clearly judge the significance of each independent variable upon the dependent variable, which is the annual consumption of cigarettes. This brief report will principally try to relate the results of this particular regression in accordance with...

The economic concept of elasticity refers to the change in one economic quantity in response to another economic quantity. Moreover, we are interested in the magnitude that one quantity changes in response to another quantity that it is dependent upon. This is what elasticity measures. If the dependent quantity does not vary much when the first quantity is varied, we term their relationship as relatively inelastic. When a small change in one factor creates significant changes in another, then their...

LONDON (Reuters) - Africa faces a surge in cancer deaths unless action is taken in the next decade to stem rising smoking levels in a continent where anti-tobacco laws remain rare, U.S. scientists said Wednesday.More than half the continent will double its tobacco use within 12 years if current trends continue, the American Cancer Society (ACS) said in a report which found that 90 percent of people living there have no protection from secondhand smoke.Some African countries have introduced smoking...

According to world economy statistics, Canada is rated as the tenth largest economy globally. Canadas per capita income is mainly boosted by the production sector but for the past few years Canadas good performance as compared to other countries in its peer group has declined. In the 1970s, its GDP per capita was gauged to be around 17,812, the fourth highest in the peer group, recording a B grade. The country worked on retaining this grade the following decade but it slipped into a C rating on...

    There is no need to emphasize the world is in the midst of the worst financial crisis in recorded history. Majority of the global economies are still locked in the grip of the tightening credit crunch, many will say will last for several years. In the United States, the administration of current President Barack Obama is still wrestling with the effects of the recession that is still buffeting the country and trying to find ways on how to best deal with those affected by it and...

Britain is credited with having been the first nation to industrialize in the world. History reckons England as the cradle of industrialization for having developed the first major industrial bases, notably mass production of various goods especially in the textile industry. In the 18th century, Britain experienced a rapid industrialization to become a leading exporter of manufactured goods. The textile industry became an important base for development of other industries and the development of...