Video on demand

focus on and try to prevent. Deflation comes in two different forms. One kind of deflation is malign deflation. Malign deflation occurs as the result of a collapse in aggregate demand. This type of deflation has been linked with a weak economy and continually decreasing prices (Powell, 14). The collapse in aggregate demand causes these things, which then forces the…

Price-gouging that occurs after an emergency, such as hurricane Harvey, has its obvious ethical dilemmas, but free market economists argue that it prevents scarcity. Laissez-faire economists believe that when quantity demanded increases the price must also rise because the higher price will become a necessary incentive for suppliers. They claim that when there is a scarcity, the distribution of goods and services are best done in a free market economy. The pricing system that is vital to the…

are in the group. They do not behave in such a way to maximise profits and compete against each other due to saturated market. 4. Indeterminateness of demand curve which is a direct result of interdependence. It creates uncertainty for all the companies as under oligopoly no firm can predict the result of its price policy. As a result, the demand curve facing oligopolistic firm losses its determinateness. 5. Elements of monopoly are also present in oligopolistic companies as each firm controls…

Should Minimum Wage go up? Do you think minimum wage should go up or should it stay the same? Everyone has mixed feelings about this topic and if it minimum wage should go up or not. In this essay I will be talking about the pros and the cons of minimum wage as a hole. To me it depends on the situation for the pay of minimum wage, if it should go up or not. There are some real world examples and stories that help determine the pay of minimum wage. Some examples of why minimum wage should not go…

The economy is the different values of different items, goods, or companies. When the economy changes the prices of those goods, items, and value of companies change. A change in the economy can impact many things such as money, debt, jobs, and almost anything involving money. Some of the things that impacted the economy were bi and monometalism, Westward Expansion, and World War One. Currency is the money used in each country, some currency is worth more than others. In the US some people…

In the following text, I will compare the Mary Poppins book and movie. The book was written by P.L. Travers and was first published in London in 1934. The movie is a Walt Disney production from the year 1964 and was directed by Robert Stevenson. The movie and the book are about the children Michael and Jane who experience many little adventures with their new nanny, Mary Poppins, who appeared flying with an umbrella. The main story of the book and the movie are similar but they contain some…

1.5 stratification (15 points) (1) Weber’s conception of stratification is derived from his analysis of economic activities in relationships. He said that economic relationships are decided by individuals’ chance of using their material property for exchange on the market. Thus, people sharing similar material conditions are classified into groups. In Weber’s view, the inequality between different groups is associated with not only the economic dimension but also social, political, and…

Michael Porter’s 5P model: In order to determine market attractiveness, in 1979 Michael Porter invented 5P model. These 5 forces he thinks are crucial in determining market attractiveness. This help us in doing the competitive analysis of market. This also helps us in MESO analysis of the market. It determines competitive intensity among the market. Competitive intensity depends on certain factors such as lots of/less competition, industry growth potential, product differentiation, exit…

Cost, Efficiency and Productivity – Neal “Efficiency, productivity and competitiveness are linked. Better productivity means increased efficiency which results in a higher level of competitiveness” (GCSE, 2014). This is currently not the case for the California division of Railex, and will need to be to create a more competitive company. Due to a lack of internal accounting information it will need to be assumed that an investigation is necessary. This is to find the root cause of the costs…

Economic anthropology In the past, anthropologists have studied a variety of economic systems. Subsistence economies are some of the simplest forms of economic systems and can be divided into groups such as food foragers, horticulturalists, pastoralists and agriculturalist. The context of this essay will compare and contrast food foragers and horticulturalists. Economic anthropology is the study of the social and cultural basis of economic behaviour(Wolf, 1997). It is also the study that looks…