In the United States (US), the household wealth of a median white family in 2019 was $147,000, while the median black family owns $3,600 – just over 2% of what the median white family owns (Collins, Asante-Muhammad, Hoxie, & Terry, 2019). The wealth gap between whites and blacks not only suggests that there is an inequality of outcomes, but also...
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In this world of competition, it is very important for businesses to understand various fields of study in order to apply various concepts to operate successfully. Microeconomics is one of the fields of study that a business must learn from and implement its concepts to operate and sustain. Businesses can only sustain if it achieves its predetermined goals and objectives,...
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Have you ever thought of how money started? Well, it all started with bartering. People use to swap their goods for the other persons goods. Bartering turned to coins. The first coin ever minted featured a roaring lion created by King Alyattes in Lydia now known as Turkey. Coins then turned into bank notes around 1661 AD. In 1950 credit...
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The impact of a changing demographic structure on the price of financial assets, especially stock prices has been the subject of extensive research and discussion for some time (Quayes & Jamal, 2014). Data gathered from the U.S Census estimated there were 65 million US born baby boomers accounting for more than 20% of the US population in 2014 (Colby &...
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While increasing demand is generally great news for an economy, a lagged supply chain can cause Inflation. In this blog post, we'll go through why this is a very real issue facing economic managers all around the world. Firstly, what is inflation? Inflation occurs when the demand for a product/service is greater than the current supply. When this occurs, the...
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The urbanization and industrialization in the 19th century have made a change in America. Urbanization, the diverse that impacted the environment. As well as how things were created and a development in the work environment, it was a big growth for many things. In the 19th century there was a rapid growth towards unity, social and politically. Cities attracted very...
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Compensation covers everything an employer offers an employee in return for their work. Although the term is commonly associated with money, employee compensation also includes nonmonetary benefits, such as health insurance and a pension plan. Employee compensation often plays a significant role in different areas of the workplace and may affect everything from turnover rate to workers morale. Efficient compensation...
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Economics is regarded as the social science that is concerned with the distribution, production as well as usage of goods and services. In economics, demand and supply are those factors that are said to decide price, producers would like to sell at a specific price i.e. supply, and customers will be able to buy the product by determining the price...
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Similarly, in 1901, every Australian had the right to vote, however in 1902 Aboriginal and Torres Strait Islanders were not allowed to vote in Federal Elections until 1962. They were also not considered in the census until 1967 (Australian Electoral Commission, 2017). A White Australia Policy was employed in 1901 and it was not entirely eradicated until the 1970’s. Non-white...
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Physical needs and comfort are more considerably than spiritual values in materialism. Materialism is a term of social behavior and interactions by which many materialistic people are unsatisfied and stressful by seeing others having the latest things which are useable in their daily life more the needs. Materialism is just a mind satisfaction of an individual which he or she...
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Gold’s Gym, originally started by Joe Gold, is an American chain of international co-ed fitness centers. He opened the first Gold's Gym, with homemade equipment, in August 1965, in Venice Beach, California, way before gyms existed. The gym got popular when it was in a documentary, ‘Pumping Iron’ (1977), and Arnold Schwarzenegger and Dave Draper used to train there. Each...
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Both the political and economic worlds have always been dependent on each other, neither can survive without the other and the modern world is incapable of functioning without them both. Countries have been competing in finding the best economic and political combination that brings their countries into the power they need to lead the world for a prolonged period of...
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The era of the Industrial Revolution is deeply rooted in Britain after its major success being the mechanization in the production of cotton cloth. From this initial seed, the technologies would later spread across the North Atlantic and finally reach the United States of America. Although the U.S had an abundance of land for agricultural production, the country had a...
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The fraudulent use of a card account by the theft of the account holder's card number, card details and personal information, through a plethora of methods in order to perform unauthorized transactions from the compromised account is called a card fraud. Causes of Credit Card Fraud Reasons for massive online card fraud are that it is easy enough to buy...
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The minimum wage is a fundamental labor policy that sets a legal floor for hourly wages, ensuring workers receive fair compensation for their efforts. This essay explores the impact of minimum wage on various aspects of the economy and society. By examining both the advantages and disadvantages of minimum wage laws, we can gain a comprehensive understanding of their effects...
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Money can give you joy and happiness, but not all happy moments last forever. According to, Gilovich and Leaf Van Boven of the University of Colorado, “Doing things can bring us more joy than having things. Our preoccupation with stuff obscures an important truth: the things that don’t last create the most lasting happiness”. Money can certainly get you a...
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Management is primarily motivating employees at work to carry out their work effectively and efficiently through recognition. As salary is fixed, it culpably fails to motivate employees at work. Hence providing compensation based on their performance and productivity will encourage them to perform better. Compensation and reward system are meant to encourage and boost the employees’ performance in the organization....
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The solicitation from Germany's protected court to suspend acquisition of German bonds by the Bundesbank will prompt a very long time of legitimate and political battle that will genuinely debilitate the exertion by Europe to battle the coronavirus emergency. It likewise opens up another time of analysis of acts by the European Central Bank that is probably going to change...
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The income gap is when the gap between the wealthy and the poor is very big. This is an issue that is still affecting many people to this day, it is an economic impact that many people have to face. However, the income gap does not only stop at being an economic issue, but it could also have a political...
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The World Health Organization has declared the COVID-19 (Corona Virus) a global pandemic. The COVID-19 outbreak has affected the majority of businesses across the globe. This includes both small and large business enterprises as well as the global market at large. The price of commodities has risen due to the decrease in their supply. Some of the basic commodities have...
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America, the land of plenty, has always experienced an abundance of wealth, but has the unequal distribution of this wealth become our downfall? It’s easy to see that people in the United States are getting richer. However, a fraction of the wealth is becoming an issue towards the less fortunate. According to the film ‘Inequality for All’, Robert Reich exhibits...
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We have all heard the phrase of income inequality in our lives. But few of us actually thought about it or even consider thinking about it. Before diving into solutions, what is causing this problem in the first place is essential because without knowing the issues of what causing this problem in the first place and looking for solution will...
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Many a times employees do not know when they are being exposed to injuries at their duty stations. They believe it is their fault if something went wrong and would only assume that the gravest of accidents at work are what the definition is. Sometimes it is not even written on the employment handbook on how to go about the...
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Microeconomics is the study of how individuals and firms make themselves as well off as possible in a world of scarcity, and the consequences of those individual decisions for markets and the entire economy (David A., 2004). In studying microeconomics, we examine how individual consumers and firms make decisions and how the interaction of many individual decisions that affects markets....
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Today South Africa is still not a free and fair democracy as defined in our Constitution. There are huge divisions in society due largely to the past apartheid regime. This disparity manifests as economic inequality including income, employment and educational inequality. It also manifests as social and geographical inequality and the lack of basic services to certain residential and rural...
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Social issues are a problem that influences many individuals within a society. Social issues are common problems that are being faced in Pakistan very often, because social issues influence many peoples to strive to solve many issues. Pakistan is a developing country which is facing a lot of social problems now a day, which includes the economics problems, unemployment, environmental...
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The minimum wage is a topic widely debated by both sides of the political spectrum in the United States. But first, what exactly is the minimum wage? Fair Labor Standards Act (FLSA) of 1938 enacted by President Franklin Roosevelt established the minimum wage. The original minimum wage was 25 cents per hour. This amount equates to approximately $4.04 spending ability...
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Globalization is the integration of the world due to the explosion of international trade and technologies that make communication easier. Therefore, the world has become a global village in terms of values and even cultural preferences. Globalization has implication on HR practice because companies can hire global talent and use the newest technologies to manage talent. The biggest opportunity that...
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Leibbrandt and Shipp break down the source, cause and solution to the income disparity in South Africa. Their findings tackle how the bridge between the rich and poor, gender and racial inequalities, equalization workers’ wages and salaries, stability of the middle class and the division caused by the need for some form of tertiary education. This essay will explore a...
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Macroeconomics is the part of economic aspects concentrating the conduct of the total economy – at the local, national or worldwide level. While microeconomics is concerned principally with the choices made by a person inside the typical financial limitations of shortage, macroeconomics is the field of concentrate that is worried about the markers that mirror the presentation of the more...
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