Category: Economics 2707

Deep Economy by Bill McKibben gives an insight into the current United States economy and how the future of the nation is in danger if the current economic processes continue being followed. Bill McKibben describes that the United States has become obsessed with getting more material items rather than acquiring better items necessary for their…

Table of Contents Abstract Introduction Main body Conclusion Works Cited Abstract The paper investigates the importance of distinguishing between the two types of financial structure (bank-based and market-based). Its major goal is to examine the effect of financial structure on developed countries during the period following the 2008-2009 financial crisis. For achieving this aim, a…

The emergence of the New Deal came in a time of severe economic and social struggle. This also allowed for political division and the promotion of varied and even conflicting interests. However, the New Deal aimed to improve the lives of the regular working class as well as the operations of American firms and was…

Introduction Crude Oil or petroleum, as we all know is the world’s most robustly dealt commodity. In her book Oil: The Economics of Fuel, Joann Jovinelly emphasizes the importance of this source for the whole world and the USA in particular (2007). It is extracted from the earth through oil wells. Richard John Eden examines…

Table of Contents The Term “Economy” Problematic Definition Current Implications The Solution Conclusion References The Term “Economy” Christopher Dodd once quoted “economic growth and environmental protection can and should go hand in hand”. Societies, governments, and countries rely on the concept of the economy to control the nature and processes of production and consumption. The…

Table of Contents The cost schedule and output rate The cost data plotted as the ATC and MC curves Conclusion Reference The cost schedule and output rate Marginal cost is calculated by determining changes in the total cost when the rate of output increases by a single unit (Mankiw, 2016). The fixed cost remains the…

“Fiat” money is a currency issued by governments that is not tied to physical products such as gold and silver. The currency value is usually set by the ratio of supply and demand and regulated by governments’ financial departments. USA dollar, euro, pound, and many other stable currencies are called “fiat” (Chen 1). Nowadays, the…

Table of Contents Introduction Illustration Discussion Conclusion Works Cited Introduction The demand and supply equilibrium is the basis of all commercial interactions between consumers and producers. It helps determine the price of products and the quantity available to the market. As a rule, market forces tend to serve as regulators for the fairness of established…

A greater understanding of the processes that govern market operations is an essential part of creating and running a successful business. The study of economics enables one to get a bigger picture of the relationships between companies, governments, and customers. This essay reviews the following topics: supply and demand, elasticity, the costs of production and…

Table of Contents Introduction Illustration Discussion Conclusion Works Cited Introduction Price elasticity is a parameter used in determining the sensitivity of demand towards prices. Price sensitivity in customers can be induced by a myriad of economic factors, ranging from a lack of resources in the target customers to the presence of competition providing similar products.…