Economics

The South American continent was for a long time a continent that struggled with its democracy. Its political leadership concentrated mainly in benefitting from all that came with the trappings of power and as such most of these nations never gained from the leadership provided by the political class. Military-led coups did little to salvage an already desperate situation. The region is however rich with resources that include minerals, oil and natural gas. The minerals that are distributed across...

Economics can be described as the study of how scarcity of resources influences the economic behavior of individuals, households, organizations and governments. There are two levels of economics, microeconomics and macroeconomics. Microeconomics is the study of individuals economic behavior either as a member of a household, government or a business unit. The study of economics enables people to understand economic trends hence enabling them to make good choices that enhance the quality of life...

In Chapter 6 of the book The Structure of American Industry, Brock discusses the structural elements that affect American industry, such as competition and sources of industrial powers. This paper reviews other journal articles to gain more understanding about the forces that affect the automobile industry. It answers the question about the two most important elements of the automobile industry structure.  It argues that the two most essential elements of the automobile industry structure are...

In preparing to write this paper a lot has flashed in my mind. A century is as wide as a hundred years and to identify a specific and identical item to settle on as the most important effect in the economy can be very difficult. Think of it, the various wars within the 21st century, the tumultuous and insurgent technological improvements that left various organizations at crossroads, the various depressions yes I believe this is the answer to the first bit of this question, the great depression...

We learnt from historical texts that trade have taken part since the existence of human being. While trade is not limited within countries, it develops into what we know as international trade or trade between countries. Paul Krugman and Maurice Obstfeld say that countries engage in international trade for two basic reasons. First, countries trade because they are different from each other. Therefore, nations, like individuals can benefit from their differences by reaching an arrangement in which...

The relationship between economic growth and population growth has long been established.  Thomas Malthus claimed that there is a tendency for population to outgrow food production because the latter increases at a geometrical rate, the former at an arithmetic rate. The Philippine economy has proven this Malthusian catastrophe holds true, in that way the country has not been able to post a significant level of economic growth to satisfy the ever increasing demand of its ballooning population. There...

The economy of a country can be considered healthy when its employment rate is remains low. Indeed, unemployment can be considered burden to the economy but then again unemployment is normally part of the economic trend. Some degree of unemployment could be observed even in the healthy economy. In fact, unemployment never reaches zero and normally fluctuates around the normal rate of about 5 to 6 percent.  Unemployment may occur due to various reasons. It could be because the worker himself...

The European Commission has put across elaborate ways of ensuring transparency and control of budget expenditure throughout all European Community members. This boosts the concerned budgetary authorities such as the European Parliament and the European Council to effectively monitor the realization of annual budget.  The budget control is further broken down to monthly reports where the monthly expenditures incurred and the corresponding revenues are made available to the commission. The guideline...

International trade is simply the exchange of goods and services between nations. This trade is carried out between the territories or the boundaries that exist internationally. International trade has existed since long time ago. One aspect of international trade that has become very common in the twenty first century is offshore outsourcing. This paper discusses the phenomenon of offshore outsourcing. It further elaborates on whether the phenomenon changes the overall understanding of gains from...