Samples "Economic Theory"

Economic Theory

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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912 words | 4 page(s)
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,...

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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,...

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424 words | 3 page(s)
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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603 words | 3 page(s)
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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594 words | 3 page(s)