Essays on Economics

Money plays a significant role in the economy. The purposes of money include as medium of exchange where money is used in exchange for goods and services. Money is also used as measures of value where it acts as a common denominator permitting every good or service to be priced...

Human capital is defined as the knowledge, skills and competencies possessed by the labour market which is used to produce goods, services and ideas. Various attributes are embodied in human capital. For instance, a person’s education might be good but possess poor management skills. Human capital is therefore dimensional and...

One of the products that have been contributing to the growth of the U.S. economy is the iPhone 6 plus In the year 2015, the sales from iPhone 6 formed 10% of the economic growth and 0.3% of the GDP change in America (Ross, 2017). However, over the years, the sale...

Deflation and its Positive Effects Deflation is both a negative and a positive thing. Some of the positive effects of deflation include the fact that it reduces the burden of private and private debt. It also enables banks to adjust and control the interest rates of a product to stabilize the...

The global economic crisis is a phenomenon that is characterized by a sharp deterioration in all financial indicators. Such a state of the economic sector stirred the whole world in 2008. The scale that was covered by the crisis is comparable only to the times of the Great Depression. For...

This paper explains the main factors which has contributed to the increase in demand for iPhones in the United Kingdom. It also provides evidence to support the argument. Data, diagrams, and graphs are also used to illustrate and explain the factors. The increased uptake on mobile phones has been influenced by...

a) Percentage change in the price of food and clothing for the 2004 and 2005 period. Percentage change in the price of food Change in food price $12-$8= $4  Percentage change=  X100%                                  = 50% The price of food between the years 2004 and 2005 changed by 50% Percentage change in clothing...

The paper analyzes a recent transaction which involves the purchase of a smartphone from Samsung Electronics Co. Ltd. In terms of consumer preference, the decisions to buy the smartphone from Samsung was due to its high-end features and low prices compared to other smartphone devices. Consumer preference and choices in...

Changing the federal minimum wage has been a notorious economic topic of discussion across the globe for several years now. There are people who constantly argue that the federal minimum wage should be raised while others argue that it should not be increased because of the effects this can have...

The Impact of Traffic Congestion The first thing that comes to mind when a person encounters traffic jam is the delay that they shall experience. This is a real phenomenon to the people in Brisbane City and Australian residents as well. During the morning commute, people experience additional stress because the...

Toll Roads and Turnpikes Toll road or a turnpike is a communal or privately owned road for which a charge is made for access (Yang, 310). It is a system of highway charging instigated to aid recover the expense of highway construction and conservation. Economists established that when a commodity that...

Businesses and Stakeholder Involvement Businesses do not exist in isolation; they have many individuals and groups to cater to be productive within the market (Van Buren & Greenwood, 2011). The market dynamics are changing continuously and to remain competitive and relevant in the market, businesses have set rules to ensure adequate...