Economics terminology

Indonesia.Trade flourished from 1000 - 1500 for several reasons, the sudden rise of islam in the seventh century and the revival of China. The Abbasid Caliphate allowed a more centralized political system whereas the Chinese revival lead to a better economic system which ultimately means more money for trading and ship building. Another new addition that added to the success of Indian Ocean trade was the monsoon winds. People were able to predict the right weathers to sail in making trade easier…

Since the economy started to pick up in the second half of 2009, the logistic sector has made an impressive comeback and also its long-term growth prospects remain good. Logistics is dependent on business with the manufacturing sector, and is benefiting from the recent significant increase in demand for shipping by industrial clients. According to DB Research, over the next ten years the logistic sector can expect to post nominal growth of around 4% per year. The World Bank’s biennial Logistics…

Road to Serfdom, Hayek seeks to convince the British people that socialism can lead their country to the end of Fascism, which is not a particular product of the wicked Germany. Without using mathematical economic model, Hayek consciously delineates the intuitive proceedings from ‘good economic plans’ to the ‘bad national socialism’ , and indicates the truth that Marxism had led to Fascism, which in all essentials, it is Fascism and National Socialism. Hayek believes that socialism, except the…

activists, and leaders of the many communities despise fracking due to the fact that it wastes natural, non-renewable resources and only establishes temporarily occupations. As a result, the article is a very controversial topic that has political economic and ecology as examples to further the…

The idea of selection, insufficiency and opportunity cost is what economics is composed of. If we have to give up one good in order to acquire another, then the good is scarce. However, we can only make choices if they are available to us and the price of any choice is the worth of the most ideal alternative that has to be foregone and in economic terms, it is the opportunity cost. Three examples of opportunity cost. Like everyone else, I continually find myself faced by the need to make…

participation, infrastructure, education, public health, and sound economic management to persons living within designated borders. State capacity in Latin America and the Caribbean region has collectively increased as a result the region overcoming a long history of civil war, corrupt authoritarian rule, and economic stagnation. The region is mostly characterized by developing countries that have benefited from democratization and economic liberalization. However, the region still remains…

wealth that should be going into their pockets. We have nothing to fear in confronting this problem because to quote paul Mason, “ But if we are bold enough to imagine that we can save the planet, we should also imagine saving ourselves from an economic system that does not…

1. Singer’s initial principle is as follows, “if it is in our power to prevent something bad from happening, without thereby sacrificing anything of comparable moral importance, we ought, morally, to do it” (866) According to Singer this is means that it one must prevent something bad or avoid cause any more damage events from happening but are not required to promote something good in return. (866) He goes on to explain that this principle only applies when we do not have to sacrifice anything…

JimBob’s Painting is a one of a kind painting business, with a one of a kind owner. I am Austin JimBob Lewis, and I am the owner of JimBob’s Painting. Even though I am only 19 years old, I have been known all of my life as a hard working individual that gives it his all and that is exactly what I do when I am working for my customers. Being the creator and owner of JimBob’s Painting has allowed me to experience many situations. Those experiences have been varied to say the least, but with the…

become one of the top priorities for countries; “But in recent decades, leaders have come to see the economic clout that trade produces as more than merely a purse for military prowess: they now understand prosperity to be a principal means by which countries measure and exercise power.” (Froman, par.1). This brings in more money and jobs into the economy; “Trade supports higher-paying jobs, spurs economic growth, and enhances the competitiveness of the U.S. economy.” (Froman, par. 3). With…