Economics

The American Economic Association defines economics as the study of how people choose to use resources. In this context the Association states that resources include the time and talent people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to combine them to create useful products and services. On the other hand, economics is said to be the study of, among other things, labor, land, and investments, of money, income, and production, and of taxes,...

Japan is considered one of the leading countries in terms of global economy. This country has experienced rapid economic growth after the second world war  and has maintained its status as a leading trade player in the global economy. Knowing the trade pattern and profile is very important especially for an economic giant such as Japan. This country has established itself in the field of electronic products and car exports, the major trade industry of Japan is high-tech electronic products...

About four million infants in USA consume approximately 80 million cases of baby food each year. This represents domestic market revenue of about  865 to 1billion, yet this industry is only dominated by three companies, Gerber, Heinz and Beech-Nut. Indeed, Gerber commands 65 of the total market share, leaving 17.4 for Heinz and 15.4 for Beech-Nut (Baye and Scholten, 2001). As such Heinz and Beech-Nuts wants to merger in order to favorably compete with the industry giant. This present short...

Smith (1977) argues that in order to efficiently respond to water resource management, it is pertinent to apply property rights (8). He used two characteristics of water to measure its value- the total availability of water and the individual demand of every property deed holder. He stresses the following benefits of water deeds appropriation according to paid deeds, creation of positive cash, potential to decrease pollution, redistribution of wealth will not greatly occur, relative price inflexibility...

Do you think the differences between the pricing issues Varian describes for information goods and those we looked at for peak capacity pricing in the electricity industry will lead to important differences in the competitive environments in these two industries Yes, I believe that the pricing issues Varian describes for information goods and those we looked at for peak capacity pricing in the electricity industry will lead to important differences in the competitive environments of these two...

The article entitled Falling Fertility talks about the decline in the population growth of the world together with its corresponding effects in the development of the society. The discussion of the article used the Malthusian Theory as a basis in order to introduce its antithesis of the declining population growth. Nevertheless, the article also give due emphasis to the Malthuss heirs in explaining that the decline in the population is just synonymous to the slow growth, which still means that the...

This is paper will dwell on the different types of agglomeration economies and the bid rent theory and review the factors influencing location requirements for certain kinds of firms. Agglomeration economic dwells on the savings or benefits firms realize by clustering together (SdS), it is frequently associated with the collective use of the infrastructure of transportation, communications facilities and other services (JGS). Bid rent is the amount of money one is willing to offer to acquire a certain...

The concept of gross fixed capital formation is mostly applied in national accounts. This concept has been in use since 1930s. Some of the national accounts which use this concept includes UNSNA and NIPS. Gross fixed capital formation involves additions to fixed assets in a business. It is obtained by considering the total assets in a business which includes purchased assets. The total assets are obtained by deducting the all fixed assets which have been disposed off (Foss, 1994). This can be done...

This section contains a summary of the contents of thesis proposal. Table of contents This is the list of items contained in the document. The page numbers are provided to each item in the list of contents. Acknowledgement Write down the people and organizations that helped complete the research. Chapter one Introduction The definition of the terms poverty and inequality will be given at this stage. In addition, the measures to reduce poverty and inequality will be listed after the definitions....

When we talk about we are mainly focusing on the phenomena of Globalization that is reshaping this world into a new globalized economy. This globalized economy experiences trickle down effects, and thus simultaneously affects the demand and supply of various factors of production. Globalization has positive and negative impacts. The proposers of positive affect argue the opportunity exploration that is created by the globalization. On the other hand, the critiques argue that globalization is a...

The GCC is economically and politically prepared to evolve into a monetary union through a single currency. The GCC, formed in 1981 by six Arab states, is an economic power holding about half of the worlds oil reserves and a fifth of gas reserves. The GCC and a currency union are a perfect match. A currency union is the use of a single currency across a region having the same monetary policies under one administration. The Euro serves as the best example of a successful use of a currency union. The...

As of January 20, 2009, total US federal debt amounted to more than 10.6 trillion. This was a 85.5 increase in more than eight years. The borrowing cap ceiling stood at 8.1 trillion. Two years previously, the US Congress raised the ceiling by an additional  1 trillion, approximately 70 of the GDP. Apparently, Congress used this method to deal with an increasing debt celing in previous years. Borrowing limit was raised in 2002 and 2003. On October 4, 2008, Congress passed the Emergency Economic...

One of the primary justifications of privatization or deregulation is to decrease costs, because of the confidence that private organizations develop more cost-efficient systems and operations. Privatization also promises a wide array of consumer choices, diminished market power, and enhanced infrastructure performance. Because of these attractive promises, the U.S. electricity industry underwent a wide range of privatization in federal and state levels. I disagree, that privatization or deregulation...