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Macro & Microeconomics Essay

Discuss the major barriers to entry of new firms into an industry and how these barriers can either give rise to or maintain a monopoly company
They provide firms a degree of market power without losing their existing market share. Barrier to entry anything that allows incumbent firms to earn supernormal profits without threat of entry (Boyes and Melvin, 220-222). The barriers that can be used to create or maintain a monopoly include:The high fixed cost or setup cost can be the toughest obstacle to tackle. The barrier here is access to capital. Only large firm will be able to fund the necessary investment. An established monopoly is
Pages: 4 (1000 words), Essay
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Define and Discuss the Spillover Benefits Versus the Free-rider Problem
There is a working plant which causes water & air pollution to the neighboring area, then the residents may get ill by breathing in that harmful air or by drinking the poisonous & polluted water. The chemical that is released from the factory directly affects those people who are not affiliated with the factory. Hence they have to pay a price or cost of being the residents of that area although they have no concern or advantages from the factory. Such effects are termed as negative spillover
Pages: 4 (1000 words), Essay
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DeRegulation of Airline Industry
This made the airline industry to expand since many players had joined the industry with an aim to enjoy the benefits that elimination of regulation brought about. This increased completion among the existing airlines and the new airlines that were joining the market. Therefore, competition basis shifted from food and the frequency to the fares that airlines charged (Sinha, 2004).The increased competition which was being experienced in the market, led to establishment of low cost airlines such
Pages: 5 (1250 words), Essay
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Distinguish between absolutism and relativism as different ways of explaining economic thought.
Classical economics developed that insight, attempting to derive an acceptable theory of value based on all costs or on labor alone. It failed in that attempt, but in the process developed seeds of many ideas that were later expanded by Neoclassical economists [who]… who stopped looking for value on the cost side, and developed a supply/demand theory of value (p.The next stage in the timeline of development is marked by the breakthroughs introduced by economists like Leon Walras and Maynard
Pages: 8 (2000 words), Essay
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Describe how equilibrium occurs using the AS/AD framework. Use this framework to explain why real GDP fluctuates around potential GDP with specific reference to the current state of the UK economy.
The rate of inflation is calculated by the Consumer Price Index (CPI) which is calculated by the increase in prices of all the goods and services in the economy. There are two types of inflation which are anticipated and unanticipated inflation, and both of them create a different impact on the economy (tutor2u)2.Anticipated Inflation: Anticipated inflation is when the inflation rate can be correctly calculated and the people can protect themselves from its effects. An example of anticipated
Pages: 6 (1500 words), Essay
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Demand: Utility and Marginality
The employees should not be burdened with excessive work pressure as that might lead to loss of productivity. The projects should be assigned once the ongoing projects are completed. Reevaluation of the workers is necessary. The management needs to hire the right people for the right job and provide them the appropriate incentives for that they feel motivated. The incentives may not be in monetary terms. It can be with higher responsibilities or with good designation. The management should not
Pages: 4 (1000 words), Essay
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Does competition affect social preferences in the context of a bargaining game? Discuss.
In this case, one of the players becomes the proposer while the other one becomes the responder. Both the required to share a given amount of money with the proposer being the main determinant of the mode of division to be used. The responder is given an option of either accepting the proposer’s offer or declining it, in case the offer is accepted, both get the amount shared according to how the proposer had made the offer, if the respondent declines it, both parties walk away with nothing
Pages: 6 (1500 words), Essay
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Describe the different aspects of the business that you should be looking at from an economics perspective in order to run the company efficiently. Consider both the microeconomics and macroeconomics perspectives.
The environmental and economic changes can hurt the effectual operation of the company and therefore need to be incorporated. Changes in personal income earned by local individuals determine consumer’s preference and consumption behavior of the company’s products. Change in fiscal policy by the government that attempt to increase the minimum wage increases the disposable income of local consumers. The disposable income has increased from €2,308 to €2,756 (Cambridge, Tanna, &
Pages: 7 (1750 words), Essay
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Dissertation - FDI
The major finding of the study was that although the other factors also affect exports to different extents, FDI significantly affected exports in developed countries while showing no significant effect on the exports of developing countries. This finding validates the various calls for developing countries to institute policies that will enhance FDI and other economically beneficial aspect so as to grow their economy. The study concludes by highlighting that the benefits that accrue to
Pages: 14 (3500 words), Essay
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Describe the policies you would use to address unemployment and poverty here if you were the Minister of Finance. Be sure to explain the problems you would expect to face and the undesired economic outcomes that your policies might prompt.
With the advancement of time and technology, South Africa concentrated more on the retail and tourism sector for enhancing economic growth. Other sectors related to financial market are also taking shape. There is ample scope for the e-commerce industry. The USA had different sectors in the 1930s. Manufacturing sector was the main economic sector then. South Africa’s international trade position is very liquid in the present scenario. South Africa is now in a position where it can
Pages: 6 (1500 words), Essay
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Discuss whether economic theory and the available empirical evidence justi
Additionally, it has been revealed that in the organisation the payment is largely affected by the luck not with the performance. Pay for the luck has large influence over the discretionary components, including compensation, salary, and bonus structure. It has been determined from the study that mode of the corporate governance plays a crucial role that significantly influences the CEOs remuneration (Bertrand & Mullainathan, 2001). Moreover, the principle of agency model sometime helps the
Pages: 6 (1500 words), Essay
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Debate :(Against) Pay day loans should be abolished
However, questions overflowed regarding the key characteristics and their critical impact on the borrowers has been witnessed to be a major subject area of debate (Bhutta, 2013). In response to the arguments associated with the financing system of payday loans, there are numbers of key characteristics that determine the significant role of this particular financing system (Barr, 2012). Few of the widely accepted characteristics that are likely to avert the arguments relating to the financing
Pages: 10 (2500 words), Essay
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Discuss the findings of the OFGEM report with regards to the UK energy market; and discuss if more competition between the big six UK energy firms may benefit UK consumers.
Industry is considered to be an international industry in the economic and trading system whose main focus is coordinating the policies of the countries that produce, manufacture and export oil among other energy products. According to some of its scholars, the goal of the industry is to ensure that there is security for the income of companies in the industry. More importantly, they try to ensure that the prices of energy resources are well distributed to all trading nations across the world.
Pages: 6 (1500 words), Essay
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Discussing incentives to conserve marine biodiversity conservation within the framework of impure public goods.
A producer of a negative externality who does not have to worry about its full cost is likely to produce an excessive harmful amount of the product.Ordinarilly, regulations and fines may deter the production of negative externalities. But the effects of regulation may be limited under conditions such as where negative externalities are so pervasive they encourage free riding attitudes, where negative externalities are so pervasive their producers could never pay for their full cost, even if
Pages: 4 (1000 words), Essay
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Describe in your own words what the natural resource curse is. Then, provide some possible explanations of why some countries avoid it while others do not. You are encouraged to read (and cite) articles other than the one above, including other articles i
Africa, being one of the richest continents in natural resources, is one of the most “popular” regions in terms of resource-related conflicts. While African continent is rich in natural resources, there are other regions as well rich for natural resources. However, continuous armed conflicts mainly occur in developing world rather than in developed economies. The major issue therefore is to understand why some countries tend to avoid and prevent the conflicts based on natural resources,
Pages: 7 (1750 words), Essay
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Describe and evaluate the main macroeconomic policies used by the Government and Central Bank of China over the last two years.
The expansionary policy is aimed at spending to generate income. Build-up of development and infrastructure needs and vast fiscal resources have made China channel immense spending into the economy. China has in recent years has relied on its large population to provide the required demand for their products to generate the required income. Government expenditure has, however, been seen to mainly lie in the areas of education, healthcare and other social expenditures (Jia, Guo and Zhang, 2014).
Pages: 4 (1000 words), Essay
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Discuss recent progress made in income inequality reduction in a developing country of your choosing.
Specifically, currently, India’s life expectancy stands at 68 years, showing how well the population gets personal welfare and amenities.Another progress that India has made in order to ensure reduction in income inequality is coming up with a number of poverty reduction strategies that are aimed at helping the country’s large population share social and economic problems. Within the last half a century that India has been independent, the country has worked towards ensuring that there is
Pages: 8 (2000 words), Essay
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Doctor-Patient Relationship in China
Dismantled its well-planned health care system in the early 980s, became the beginning of the privatization of its economy (New England Journal of Medicine 2015). There were a number of changes on how China managed its health care sector with reduced government funding. Between 1978 and 1999, Chinas government funding on national help dropped from 32 % to 15 % (New England Journal of Medicine). The government started regulating the public charges on patients although it allowed the institutions
Pages: 4 (1000 words), Essay
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Demonstrate the impact of an increasing GDP. Is it possible that people could be worse off despite an increasing GDP? If so, show this in economic terms.
As such, the ‘C’ above depicts the overall consumption of a country. It is prudent to note that a person consuming luxury products is not an indication of the level of consumption for the entire population. Some people will have a higher marginal propensity to save (MPS) as compared to the marginal propensity to consume (MPC). According to the equation, , individuals with a higher MPS will have a lower MPC, ceteris paribus (Martins, 100). As such, the propensity to save is inversely
Pages: 4 (1000 words), Essay
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Discuss the rationale for investing in nutrition for the under 5s. Does this lead us to the conclusion that it is not worth investing in education interventions for older children?
Apart from retardation, bad health also leads to physically challenged children. This hence makes them reluctant to work thus reducing how they work. This issue in turn makes them fail to bring income to a country and to themselves too (Kogali & Krafft, 2015:3).It also helps in preventing certain illnesses that may affect them in future. An example of the illnesses that are associated with poor early childhood nutrition is obesity. The graph used to measure BMI shows that BMI z scores at
Pages: 4 (1000 words), Essay
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