Essays on Economics

Managerial accounting Management accounting is an accounting that focuses on the cost associated with operating a firm. Sometimes management accounting is described as cost accounting which deals with the cost and expenses of the company particularly in production. The value of the management accounting for …

Introduction The Gilded Age, spanning the late 19th and early 20th centuries, marked an era of unprecedented economic growth, technological advancements, and industrial expansion in the United States. At the helm of this transformative epoch stood a coterie of business magnates and tycoons, whose influence …

In his delightfully witty and humorous book, “Discover Your Inner Economist”, Cowen takes the dry and serious subject of economics from the mundane to the everyday. He begins by subtly stating that economics is not about money, but other motivations. “The critical economic problem is …

The question is: How do we allocate these limited resources? Questions that any economic system must answer: What should be produced? How should we produce it? Who gets it? Command Economy You have heavy state involvement. State of ownership of resources and control of production. …

Formal rules refer to the rules made by laws or government regulations, according to which firms must do or cannot do in doing business. More importantly, government often plays an important role in formulating formal rules. In China, different government carries out completely different formal …

Human immunodeficiency Virus (H.I.V) is spread through  Sexual intercourse with an infected individual. Use of needles or syringe for injections with an infected individual. Transfusions of infected blood and blood clotting factors; Children to an infected mother may be infected before, during or after birth …

Penetration of the Chinese market must be one of the hardest plans that Starbucks had ever made to continue their business expansion. Everyone must be aware that tea has been part of the culture of this country and selling coffee may risk the whole business …

It is true that scarcity of resources prompts man to study and explore all kinds of possibilities to maximize production in a certain given period of time. In a given economy of two goods, there is an established model that explains the relationships of production …

Freakonomics by Steven D. Levitt and Stephen J. Dubner shows that in life, everything has a hidden side. The book also discusses many topics, such as: incentives are the cornerstones of modern life, the conventional wisdom is frequently wrong, dramatic effects often have distant causes, …

Persuasion Tools Model Kenneth Berrien ‘40s Definition This model helps an individual find the best way to negotiate, by using and recognizing an individuals capabilities and intuition. How does it work? Using a model to see which point an individual stands horizontally represents influencing and …

Nigerian Economy/GDP and Production Nigeria recorded a Current Account surplus of 11. 60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. Historically, from 1980 until 2011, Nigeria Current Account to GDP …

Octal Yuk – Information on Economic Patterns, Geographic Influences, Art and Architecture, Religion and Values, and Social and Political Organization By Evangel Economic Patterns: The community’s economy was apparently based on agriculture, along with a developing practice of cattle raising. Also it is the first …

So, emerging markets or emerging economies are nations with social or business activity in the process of rapid growth and industrialization. The seven largest emerging and developing economies by either nominal Gross Domestic Product or GDP (Purchasing Power Parity) are China, Brazil, Russia, India, Mexico, …

3 Key Elements of Economics There are many key factors that make up the economic system all which must work together in order to effectively direct scarce inputs into wanted outputs. For this purpose the focus will be on 3 of those key elements. this …

Malaysia Herbal Market Currently, the value of global herbal market for nutraceuticals is at USD 70 billion and USD 20 billion for phytomedicines with an average growth rate between 15 to 20 percent annually. While the Malaysia herbal market is valued at RM 4. 55 …

In the new product development process the product proposed has already reached the pricing strategy. With the engagement of beta stage the product is at the verge of market pressure to justify the analytical anatomy of the product that will meet the economics of the …

What is poverty? Poverty is the economic condition in which people lack sufficient income to obtain certain minimal levels of health services, food, housing, clothing, and education generally recognized as necessary to ensure an adequate standard of living. What is considered adequate, however, depends on …

There are three main types of economies in the world according to the types of business they do: 1. Agriculture based economy – This is the oldest form of economies in the world. The economy by its nature has small firms and has a limited …

Economic and Monetary Union (EMU) is a single currency area within the European Union single market in which people, goods, services and capital move without restrictions. It creates the framework for economic growth and stability and is underpinned by an independent central bank and legal …

Why did mass-production emerge as the dominant industrial process in the late 19th/early 20th century? Provide examples to support your argument.”As a concentration on principles of power, accuracy, economy, system, continuity and speed – mass production is one of the most prolific production technologies the …

Thomas Sowell said, “The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it…” In this paper the author will define economics, microeconomics, macroeconomics, the law of supply and demand and will identify the factors that …

The Hong Kong ‘s economic system is presently in an upward tendency. It is said to be the universe ‘s freest economic system, the 2nd largest beginning of foreign direct investing ( FDI ) in Asia, the universe ‘s 9th largest foreign exchange militias keeping, …

Apple Inc. is a multinational company that specializes in both hardware and software products. From preliminary research of their website, it major area of specialization is on consumer electronics such as smartphones, smart watches, tablets, and laptops. Theirline of products includes the app store, Mac, …

Competition has always been a tricky matter for USPS as it is a government funded unit and has many advantages. The rivals frequently claim that USPS has created a monopoly for itself and the revenues it generates from this monopoly are used to compete against …

These unambiguous human resource functions have been premeditated cautiously in order to amplify the probability that disruptive technology will be developed and/or put into operation. Human resource systems also considerably influence disruptive technology. These effects come about through recognizing disruptive technology as an organizational objective, …

Yes. This is because when the opportunity cost involved in production of any commodity increases, it makes the production possibilities frontier to shift inwards. This means that the cost would be more to produce a commodity that it would be to purchase it. For example, …

The most common belief is that Agency Theory is based in the economic model of man (e. G. Brenna , 1994). Jensen and Neckline arguing that the theory is grounded in what they call REAM – the Resourceful, Evaluative, Maximizing Model (Jensen , 1994). They …

The cost of inflation depends on two cases; perfectly anticipated inflation and unanticipated inflation. Anticipated inflation is defined when individuals are able to make accurate predictions of inflation, they can take steps to protect themselves from its effects. Also, trade unions might use their bargaining …

Executive Summary Seiko Watch Corporation and its predecessor had always been innovative in watch technology development and brought many industry firsts to the watch market, and Seiko was very successful before the 1990s. With competitive environment change started in the 1990s, Seiko found it was …

21st Market Myopia Marketing myopia can be described as a disease for a company with many different symptoms. Some of the indications that a company has caught the illness are attitudes that say, “We’re fine the way we are, we don’t need change” or “That …