Category: Economics 2707

Consumer and Firm Theories and Competitive Behaviour Consideration of a simple economy in which two output goods are produced using only labor, yielding three markets Simple economy Chinas agricultural sector is a simple yet labor-intensive economy. In the simple economy which is the agricultural sector, the cost of production and the prices of goods produced…

Latin Americas Economic Development Issues The three main issues that I believe are attempting against economic development of Latin America are poverty, unemployment, and inequality. While there are many social policies that have strived to reduce poverty and inequality, the problems still persist due to poor productive structures that create unequal personal distribution of labor…

Competitive Advantage and Related Misunderstanding Competitive advantage is the ability one country has over another to produce a particular commodity with a comparatively lower opportunity cost. For example, Kenya has the necessary climatic conditions for the production of coffee. On the other hand, Switzerland has an advantage in the technology to manufacture refined coffee for…

Tarot LTD: Work in a Competitive Market Tarroc LTD Points to note: Tarroc is making normal profits. The industry is at its long-run equilibrium. The scenario is given of the industry in which Tarrot LTD operates implies a purely competitive market. It is characterized by a large number of relatively small firms. These firms are…

Investing in Corporate Bonds or Quality Stocks The development of financial markets has expanded the tools and methods of investing money so much that it is often difficult to understand various investment alternatives. Among the leading investment tools offered by the modern financial market, investing in corporate bonds or high-quality stocks is popular. These segments…

Obtaining Startup Funds and Working Capital Many entrepreneurs are faced with a choice: to develop a business using personal resources or to attract third-party capital  in order to reach profitability faster. Investments are often required at the initial stages of project development when they are directed to the launch of the first sales. First…

Why Invest in Africa TED Talk by Euvin Naidoo In his TED talk, Euvin Naidoo addresses the topic of Africa as a developing continent, its weaknesses, and its strengths. His goal is to discuss the reasons why investing in Africa is a great decision. The rate of inflation is decreasing significantly. In the past two…

The Decline in the US Dollar Compared to the Canadian Dollar: Exports Fall Introduction The decline of a currency is when its value becomes low compared to other currencies in the foreign exchange market. An example of a currency decline is the Canadian dollar compared to the US dollar. A single US dollar can purchase…

The Effectiveness of Carnegies Argument in the Gospel of Wealth The Gospel of Wealth, an article by Andrew Carnegie, includes multiple perspectives on the usage of money. Specifically, the author advocates the essential utilization of the central philanthropic principles, emphasizing the importance of spending money wisely. In that way, wealthy people are encouraged to donate…

Consumer Trust and Behaviour: Contactless Payment Introduction Background Over the last three decades, banking and payment methods have experienced a dynamic shift to the digitalized systems, thanks to technological development. Over the last few years, radio-frequency identification (RFID) payment technology has widely been applied in credit and debits cards (Hossain & Prybutok 2008). The technology…