Samples "Economic Theory"

Economic Theory

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AirBnB and Economic Theory

Airbnb is a company that provides various types of accommodation services. Belize is a country that is located close to the Caribbean Sea, and it serves up an excellent location for Airbnb to setup their operations. While Airbnb is a relatively successful company, expanding into new markets requires an informed...

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Treadmill of Production

The treadmill of production (TP) is a sociological theory arguing that capitalism is a complex system comprising forces which are social, political and economic, and as a whole are responsible for environmental degradations. The capitalist imperative towards growth has resulted in the depletion of natural resources and disruptions to ecosystems,...

645 words | 3 page(s)
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Probability Concepts and Applications

The applications of the probability theory are not limited to mathematics and sciences as it is a valuable instrument to estimate the likelihood of positive and negative outcomes both in business and everyday life. It is commonly used to make predictions in opinion polls, weather forecasts, trade in financial markets,...

424 words | 3 page(s)
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Elasticity of Demand: The McDonald’s Big Mac

McDonald's is a chain of restaurants whose corporation was initially founded in the year 1940. Their initial success lay not just in the low price of the foods offered which initially consisted of hamburgers, French fries, chicken, and multiple other categories, but in the quick delivery of the product to...

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Formation and Functions of Economic Systems

The scarcity of resources has always made it difficult to satisfy wants and needs of people effectively. This has led to the establishment of economic systems, which according to Gregory and Stuart (2013) refer to a collection of organizations that make and implement decisions regarding what resources need to be...

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Theories of Max Weber

A prominent German sociologist, political economist and an intellectual thinker of the XIX century, Max Weber shall be considered as one of the most influential thinkers over the course of the human history. In the world of economic sociology and the sociology of religion, he is known as the author...

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Financial Performance of an Organization

Return on Investment is a metric that helps in assessing the performance and returns according to the cost of funds injected into a project (Rand and Tankel, 2015, p.150). According to Petria, Capraru and Ihnatov (2015, p. 76), the ROI helps in justifying whether an investment is profitable or not....

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The US Debt Crisis

Nowadays an average human being is bombarded with information. One has to make numerous decisions daily, which influence further events in his life. Thus, there are countless issues he has to overcome to achieve a good life. The same struggle relates to countries. Leaders are facing numerous choices, which have...

606 words | 3 page(s)
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The Origins of the Financial Crisis: Crash Course

The article “Crash Course: The Origins of the Financial Crisis” published September 7, 2013 in The Economist describes the events that led to the Great Financial Crisis of 2007 and the resulting years of recession. The main points of this article were that the origins of the Financial Crisis of...

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Summary of Kotter’s Our Iceberg is Melting

John Kotter's Our Iceberg is Melting is a text that uses the parable of a community of penguins on an iceberg to present effective steps when a company is considering making a change. The text provides an eight step model that, when followed, will ideally result in a successful change...

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Capitalist Economy

Under the capitalist economy in the United States, the means of production is largely privately owned. The private owners operate factories, mines, transport, banks, and the resources or raw materials required in the industries. The private owners need labor for their factories and industries. This means that those who work...

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Politics and the Economy

With capitalism providing one of the best market systems adopted by many countries around the world, its promotion of economic social and political development and progress can be identified as beneficial to individuals and society in general. However, these benefits are almost eclipsed by persistent inequalities prevailing under the capitalist...

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Greece Political Economy

The economy of Greece has recently seen forced change from economic instability arising from a lack of economic growth, high unemployment, and bad sovereign debt. The articles reviewed for this paper discuss the argument between government spending cuts vs. government spending recent economic collapse has brought about the political economic...

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How Economic Standing In Today’s Society Exploits Social Classes

Essentially, the economic standing of individuals in today’s society labels the individuals in specific classes as well as exploits social classes through popular culture via social media outlets. These include shows like Jersey Shore and The Kardashians. Therefore, one can argue that people in different economic situations are placed in...

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The Railroad Era and Economic Growth

The discovery of gold in California created a mining frenzy that attracted many people to the territory. According to Lawrence & Cummins (2014, p. 26), the gold rush attracted so many people to California that the population doubled every six months for a time. For instance, it rose from around...

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The Importance of Economic Growth

Economic growth is one of those things that may seem, to the layman, rather confusing. By this I mean that it doesn’t seem that economic growth is particularly important, or at least it doesn’t seem that it should be very important, and yet the papers constantly fuss over a half...

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Economic Concepts

Introduction Mergers often happen in the developing world, with various pros to the agreements. However, mergers tend to limit competition and can allow a market to freely up their prices to whatever they want them to be (due to the limited competition). The New York Time’s article on mergers and...

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Global Economic Equality

Global economic equality is slowly gaining leverage as an essential in international trade. Ideally, global trade is often promoted in various parts of the globe owing to the benefits that economies experience from investing in offshore markets. However, global trade is always approached from one dimension. For example, most of...

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UK Consumer Confidence Tumbles In October On Job Insecurit

Unemployment is at its lowest rate since the Eurozone crisis. There are combinations of factors which make the aggregate data appear as if the economy is improving, however this is not necessarily the case. While the numbers appear positive, a closer look at what composes those numbers shows that employers...

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Transaction Cost Economics

Transaction Cost Theory of the Firm The transaction cost theory of the firm is the understanding that firms must establish a price for goods and services below that of the market price. Establishing costs below the market price requires and understanding of transaction costs and how these costs work in...

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