Iâll be honest, walking into my first economics lesson, I was skeptical, questioning if I had made the right choice. Growing up in Hong Kong, the cityâs position as a major hub of finance and trade was an unavoidable fact, with both my parents working in the financial sector; the sound of the talking heads on television discussing the housing...
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Every year, the United States Treasury Department loses over $100 million on minting pennies. There is a heated debate between people who are in favor of the penny and people who believe the penny should be removed from circulation. The penny should be removed from circulation for three main reasons: the penny costs too much to make, citizens lose money...
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Assignment title: âFree Trade is not free in its present formâ, discuss, with reference to the international trading system. I have read and accepted the Universityâs policy on plagiarism. I confirm that this is entirely my own work and that it has not been submitted for assessment as part of any other program. Signed: Date: âFree Trade is not free...
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âFair trade is Essentialâ Many people claim that everyone benefits from free trade. Others argue that fair trade is more important than free trade because it can lead to free trade. If we lived in an ideal world where all things were equal, free trade would be excellent. Unfortunately, nowadays, the market is unequal. The following essay takes a look...
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What makes precious metals so âpreciousâ? Precious metals are called so for a reason. The yearly production of these is quite limited. Their scarcity - is what breeds their value and uniqueness. There are three major highly valuable metals that you can trade with - platinum, gold, and silver. Precious metals have been serving mankind in various shapes and forms...
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According to the Cambridge English Dictionary, scarcity is the lack of certain resources, making it hard to achieve. In the context of economics, the lack of resources leads to the inability to meet the demands of the market. The reason scarcity exists in the first place is due to the consumption of the resource itself. The usage of the resources...
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Gasoline has been around for over a century and will continue to stay around for a while. It is used for almost any common motorized machine. Before this gasoline product was patented in Massachusetts back in the 18th century, its very close relatives kerosene and petroleum were commonly used. Currently in today's pandemic gasoline prices have been cheaper and dropping...
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During -17 the common monthly turnover in the Indian overseas exchange market touched about 175 billion US dollars. Compare this with the monthly buying and selling extent of about 120 billion US dollars for all cash, derivatives, and debt devices put collectively in the country, and the sheer size of the foreign exchange market will become evident. Since then, the...
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âWhat is meant by the neoclassical (free-market) approach to business and how does it differ from a Socialist school of economic thought? Discuss their implications for people in contemporary economies.â Today, the approach a business should take in order to be successful is often debated as it can have an impact on the contemporary economy. It could be said that...
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The Brusilov Offensive, which lasted from June to September 1916, was the straw that broke the camel's back for Russia. The war was lost when Russia signed the Treaty of Brest-Litovsk following the 1917 revolutions. This essay will argue that the 'June Advance' was not necessarily a military failure since it inflicted enormous losses on the Central Powers; however, when...
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The right to food is something that every single human being should not have to worry about. The right to food should follow under these three terms, Availability, Accessibility, and Adequacy. Being able to get food wherever, Accessibility is vulnerable to people like children, the elderly, people with disabilities. Food is affordable without other things having to suffer for cost....
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First of all, before talking about the economic problem and what follows it will be better to start with what is the economy as such. So, economics is a term we hear everywhere and is present in all human societies. It is a discipline that studies the description and also analyzes the production, the exchanges, and the consumption of the...
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Cocoa is used in a wide variety of products, ranging from cocoa powder to cacao nibs to beauty products to chocolate. However, Nestle, one of the biggest companies that sell such products, does not use Fair Trade Certified cocoa. Instead, they use Rainforest Alliance-certified cocoa, which can be harvested from farms that utilize child labor andor slavery. Although they promised...
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Fair trade is defined as when third-world countries pay producers in third-world states a fair price for their work. It is when the price is paid for products that give producers enough to offer life's basics like food, education, and healthcare. How fair trade works is essential as the identity in understanding the benefits of purchasing appropriate trade products. It...
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The Italian economy has been hit by a deep-seated political and economic stir which has led to an unprecedented financial crisis. Italy is the only eurozone country to enter recession in 2018 after two consecutive quarters of contraction in the business cycle. Alongside the 2010 debt crisis of Greece and 2018 currency crisis of Turkey, Italy stands alone to be...
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The boom of South Korean pop (K-pop) originally expanded to few Asian countries in mid-1990s; however, in early twenty first century, it has gained global popularity in the twinkling of an eye. The latest BTS â a Korean idol group which consists seven boys - got the first place on Americaâs Billboard album chart (Dal and Lee, 2019). It was...
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The word âmercantilismâ is a term that most economists would define as a theory; this is based on the idea that the worldâs total wealth was static and strongly supported government intervention in regulating trade through commercial (protectionist) policies to protect domestic firms and economic growth. If executed effectively, it should result in a countryâs GDP increasing whilst producing a...
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Mercantilism is economic framework created amid the rot of feudalism to bring together and increase the influence and particularly the money related abundance of a country by strict administrative guideline of the whole national economy as a rule through policy strategy intended to verify accumulation of bullion, an ideal equalization of exchange, the improvement of agribusiness and manufactures, and the...
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This research aims to investigate how the green economy can create new job opportunities, therefore defining some future social scenarios in Italy. The reason for which the green economy can create new employment for future generations is due to the use of new ecological and non-pollutant technologies that have been created and that will be furtherly developed in the near...
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To begin with, the key question for modern growth, however, is this: âDoes mercantilism still exist?â. In many developing nations, under one-party rule or managed by huge bureaucracies guided by industrial policies, the answer is undoubtedly, yes. On the other hand, in the modern economies, where tax reporting and collection are fairly efficient, mercantilism is much less in evidence. However,...
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Malaysia is a Southeast Asian country, occupying parts of the Malay Peninsula and the island of Borneo. It is known for its beaches, rainforests and mix of Malay, Chinese, Indian and European culture references. Its capital is Kuala Lumpur. In 2021, Malaysiaâs population is 33.42 million, it is an undeveloped country. Malaysia is very special among unique countries in the...
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Did you know there are only two people that werenât presidents on our U.S. dollars? There are some familiar faces on the U.S. dollars as we see today. There were presidents on U.S. dollars, but not on every dollar, two were never presidents at all actually. Benjamin Franklin and Alexander Hamilton are on the ten and one hundred dollar bills....
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Charles Dickens (1812-1870) was an eminent writer, journalist and social critic of Victorian era. He was brought up by middle class family in destitute poverty during British industrial revolution. These things had everlasting impact upon his memory. He is one of the literary canons who wrote a magnanimous amount of literature on varied topics. He wrote blatantly about social and...
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Increase in Food items Prices as per Pakistan Bureau of Statistics: Pulse moong (19.74%), Pulse gram(18.2%), Chicken (17.53%), Eggs (14.28%), Wheat(12.63%), Besan(12.09%), Fresh vegetables(11.7%), Pulse mash(10.29%), Gur(9.49%), Beans(8.09%), Wheat flour (7.42%), Pulse masoor(7.33%), Condiments and Spices(7.15%), Gram whole (6.68%), Sugar(5.07%), Fresh fruits(3.93%), Mustard oil(2.87%), Wheat products(2.64%), Vegetable ghee(2.18%), Rice(1.2%), Fish(1.19%) and Dry fruits(1.09%). Decreased: Onions (18.37%), Tomatoes (8.36%) and Potatoes...
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Introduction The main findings affirm the positive effect of the improvement of the life insurance market on economic growth. With the expanded model, the insurance-growth nexus varies across nations with different conditions. For example, the positive effect on economic growth is mitigated within the middle-income nations, but amplified within the low income nations. Moreover, both the development of stock market...
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Immigrants flock to America in search of the American dream; a dream that promises success to everybody who works hard and makes an effort to succeed. In the novel 'The Jungle' Upton Sinclair illustrates that capitalism is flawed as it leads to corruption, exploitation, and power in the hands of the rich. Corruption, 'dishonest or fraudulent conduct by those in...
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The state of âpost-politicsâ, whereby society is characterised by political apathy and a lack of substantial political change, is often portrayed as having transpired concurrently with the trend of rising global consumerism. Indeed, many academics argue that capitalist domination has been irreversibly strengthened through a culture of excessive consumption that intrinsically reinforces hegemonic power (Briggs, 2012; Dean, 2009; Rushkoff and...
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I found in the fantasy, that one day I went to Agra to see the Taj Mahal in the organization with my companions. Close to the transport remain of Agra, a few people selling lottery tickets pulled in me. Much against the desire of my organization, so I purchased a lottery ticket from the Haryana government. I was extremely restless...
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Everyone believes that America is the place where all your misery and issues disappear, however in America there a more people in poverty than rich people. We often describe New York as a place where many wealthy people live, due to the fact of expensive rent prices, big corporations, and outstanding education. Due to this stereotypical stereotype, people that live...
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Introduction to Consumerism and its Implications Twenty-first-century America is an extremely consumerist society. Seventy percent of its GDP comes from consumption (Kulman 58). It has more shopping malls than it has high schools. An average American spends six hours shopping every week, while only forty minutes of the same week goes to playing with their children (Frantz). A consumerist attitude...
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