Economics Essay Samples Around

Ideas of Classical Political Economists in the Modern World

The predictions of classical political economists about the future economic picture of the world have largely failed to materialize in the real world. However, the works of Adam Smith, Thomas Malthus, David Ricardo, and Karl Marx have contributed significantly to the development of economic sciences. The findings of these philosophers...

Fiscal Policy and the Multiplier Effect

Fiscal policy Fiscal policy is the adjustment of spending levels made by the government to check and control its country’s financial system. It’s a means by which a monetary policy, in conjunction with the central bank, controls the supply of money of a nation. Both policies are combined in order...

Smoking: Positive and Negative Externalities on Economy

Externalities are defined as the third-party spillovers arising from the production or consumption of goods and services on which there is no appropriate compensation is paid. The externalities are likely to create market failure in the sense that the price mechanism which involves the demand and supply forces might not...

COVID-19 Pandemic Effect on the UK Unemployment Rates

Executive summary The report provides information on the rise in the UK unemployment rate caused by the COVID-19 pandemic. The study is important as the current situation could profoundly impact the labor market, demand, and economic activity. The report concludes that a demand shock, combined with economic uncertainty, can lead...

Make-To-Order and Make-To-Stock Supply Chains

Introduction A make-to-order supply chain assumes that in a sequential supply chain all the risk involved in the process is transferable to the buyer. The management puts in place mechanisms to transfer some of the risks to the supplier. On the other hand, suppliers bear all the risks in a...

Australian Business & Economic Environment

Australian society pays special attention to social responsibility and ethical principles. Small market size and isolation do constrain both the overall productivity and the scale efficiency of Australian manufacturing industries. This problem will be mitigated by long-run economic growth. It may be exacerbated by the general equilibrium adjustment of an...

The Credit Cards: Risks and Disadvantages

Every activity involves some risks, however, some attract a greater risk than others. It is more risky to carry cash worth $100 in the pocket than it is to carry a credit card. One can be robbed and the whole amount taken. On the other hand, it is also risky...

Credit Cards in the Consumer Culture

Consumer culture is a very powerful force that shapes the way of life in any society as the individuals succumb to persistent drives geared by the yearning to be incorporated members of the (customer) culture (James, 2001). In the United States, changing attitudes towards money and debt has been an...

Federal Reserve: The Money Stock Markets

The data provided by the Fed tells of a steady upward movement of the M1, M2 and M3 values for the period of the last three years. (2008, 2009 and 2010). This is true both for the seasonal adjusted values as well as the values that are not seasonally adjusted....

Coronavirus-Caused Restrictions and Businesses Shutting Down in the UK

Introduction During the COVID-19 pandemic, countless businesses have been reducing or closing their operations, including permanent shutdowns. As a result, there has been an abrupt cessation of economic activity. Companies have faced pressure to show responsible behavior in the wake of the financial crisis, which is expected to accelerate businesses’...

Microeconomics: Economic Forces at Work in News

Farhana, C. (2015). Geant offers a world of choices to customers: Hypermarket chain is celebrating its 10th anniversary with promotions. Khaleej Times. Web. Geant, the leading hypermarket chain in the United Arab Emirates, has promised its customers a unique experience starting May 14 to May 30. Within this period, this...