Essays on Economics

What did Denrell and Fang (2010) discover about the track record of economists who excelled at forecasting 'extreme' outcomes? They had a worse overall record. That is, aside from severe outcomes, they projected incorrectly in all other cases. What exactly is a Black Swan event? A haphazard and unexpected scenario that deviates from...

Benefits of Specialization and Trade When a single country or even a person has a comparative advantage in terms of production, they have the potential to tremendously gain from trade and specialization (Hummels, & Schaur, 2012). Individuals and businesses, realizing this, contemplate specialized and trading with one another for a variety...

Flexible Pricing When the final price at which a certain product or service is sold out is not fixed, prices are said to be flexible. This means that it is negotiable between buyers and sellers and is frequently used when goods or services are modified to meet the needs of clients....

While it is obvious that the price of an item influences the demand curve, customer likes and preferences can also influence demand. The supply and demand for goods and services is a key notion in economics, influencing all elements of the market economy. The purpose of this article is to...

Windshield Survey Windshield Survey refers to an informal technique or method used by nurses and other healthcare workers to gather basic information about a certain demographic or neighborhood. To acquire epidemiological data, community health frequently focuses on a specific geographic place. This paper addresses a Capella Library article about homelessness in...

The Traditional Structure and the Role of Women The traditional structure established society through the gender roles that people played. Women were required to perform their assigned roles. Even minor divergence from the expected duties had disastrous effects. In essence, social cohesiveness and social order centered conventional structure on men. Women...

Anti-Immigrant Extremists Anti-immigrant extremists are those who oppose the movement of people into the country. The extremists work on their leadership structure and strive to decrease the number of immigrants entering the United States for various reasons. One of the organizations opposed to Mexicans entering the United States is the American...

One of the most significant decisions that countries have taken has been to join the global free market. The essay differs on the free market's winners and losers. Since World War II, the formalization of trade institutions has favored some free market winners. Institutions such as the World Trade Organization...

The International Monetary Fund: Maintaining Global Financial Stability The world’s foremost institution for monetary cooperation is the International Monetary Fund. There are 188 member states in it, and practically all of them cooperate to achieve that goal. The International Monetary Fund’s main responsibility is to maintain the stability of the global...

For the youth growing up today Friedman, in my opinion, sees a global economy that is competitive. Friedman contends that as the world becomes more equilateral, experts from China, India, and Europe will be able to more easily enter the global labor market. Less trade barriers and limitations are to blame...

The process of extracting oil from sunflowers must be taught to the students. This will allow individuals to produce their own oil at home, which will cut costs. All necessary ingredients will be gathered, and data will be recorded and analyzed. The main problem with the experiment's oil production is delicate,...

The US's $3 trillion healthcare sector makes up the majority of the nation's financial budget. The idea that health insurance firms shoulder financial burdens on behalf of the American people is misunderstood, at best, as the high cost of care merely suggests that the nation pays too much for health...