Economics

Oligopoly is a term used to refer to a market system in which a particular market sector or industry is dominated by a small number of players, called oligopolies. Since the number of players in an oligopoly is small, strategic marketing policy adopted by one of them is likely to catch the attention of the others. A decision of one of the players or marketers influences the decision of other firms competing in the same market and vice versa. Because of this interdependence in strategic planning,...

Inflation is defined as the increase in the general price levels in an economy over a period of time, there are a lot of factors that contribute to the inflation level in an economy, one of the many reasons is the interest rates that are prevalent in the economy. What happens is that if the interest rates are then the people would like to save more and spend less of their disposable incomes, this would lead to lower aggregate demand levels and might result in deflation, on the other hand if the...

Economic indicators such as the inflation rate, the real gdp growth rate, personal incomes and average hourly earnings rate are used to determine the state of an economy. The gross domestic product (gdp) refers to the measure of the total market value of all final goods and services that are produced in the economy in a given year. (McConnell & Brue, 2005). Real gross domestic product (real gdp) refers to the gdp that has been deflated or inflated so as to reflect the changes in the price...

If I were given the chance to choose three words to describe my entire personality, I would choose honesty, challenge and kindness. These terms appeal to me the most because they aptly describe how I deal with life. Being honest is one of my desirable qualities. I always tell the truth when someone asks for my opinion. By saying what I believe is true helps in promoting a transparent relationship between me and other people. Through this, I am able to be who I am and people accept me for the real...

The position of the United States of America as the world’s super power rests upon two pillars; the military and the power of the dollar in the economy of the entire world. The U.S dollar serves the role of being the world’s reserve currency (Engdahl). In spite of the recent problems in the U.S economy, the dollar still remains the strongest currency in the world economy. These problems have been associated with the recent borrowings by the U.S government placing the economy of the country in...