Essays on Economics

Inflation tax is the financial loss of value incurred by a holder of cash. For example, if you hold a $1000 bill for one year, then it will purchase on what $980 would have bought a year ago. Inasmuch as excess bank reserves attract nominal interest, the value is still...

The Role of the Industrial Revolution in Great Britain The industrial revolution played a major role in the establishment and expansion of various institutions in Great Britain. As more people migrated and settled in major towns, the health and education sectors were enhanced. An improvement in the average income for the...

Adidas is an example of a firm that operates in a monopolistic competitive market. The first characteristic is that the sportswear industry has many numbers of firms which compete with Adidas; the firms include puma and the Nike brands. In the year 2013 Nike held 31% of the global market...

International Monetary Fund (IMF) refers to an international organization of countries with its headquarters in Washington, D.C.  Its objectives are the promotion of financial stability global monetary cooperation, growth in employment international trade, economic growth as well as to reduce the poverty level around the globe.    ‘The International Monetary Fund...

Minimum wage refers to the price in which it is illegal to buy or sell labor. Minimum wage is normally set by governments and tend to be above the market wage. Under normal conditions, the price of wage will be set by an interaction between the supply of labor and...

The Importance of Stock Markets in Economic Growth The tremendous economic growth witnessed in developing countries over the last decade can, partly, be attributed to entrenchment and strengthening of the free market policies. Such policies include those designed to encourage local and international firms to list in the respective countries’ stock...

Cryptocurrency refers to a digital currency created and managed through application of encrypted techniques or cryptography. The introduction of the Bitcoin in 2009 opened an avenue for cryptocurrency trade and in 2013; it peaked to about $266 per bitcoin (Rosec). All transactions are done via network rendering it free from...

With the changing state of the global economy Many governments and interest groups have emphasized on the minimum wage that should be paid in their different countries. Although the move is aimed at protecting workers from exploitative employers, it also affects other aspects of the economy including employment, government income, corporate...

Price Fluctuations in the Tea Market Price fluctuations are a common phenomenon in this world, especially in the agricultural sector we have seen various type of food prices fluctuate and one major food crop that is greatly affected by this fluctuation is Tea. Since the year 2014 tea has experienced little...

Different market systems exist that depends on the industry and the firms within the industry. It is essential for the business owners to understand the kind of the market they are operating in before they make price and output decision. In the case of a company that is owned by...

Supply-side policies are policies that are developed to increase the aggregate supply, a shift from left to right. These policies are aimed at enhancing the productive capacity of an economy and at the same time improve the quality and quantity of the factors of production. These policies lead to lowering...

        In Australia, the printer market is extensive as evident by the number of sellers dealing with the product. Approximately, there are about of printer producers in the country. The main sellers include Samsung, HP, Canon, Brother DCP, Epson. Even though there are many companies dealing with printers, some there...