Teaching refers to the process of imparting knowledge and skills from a teacher to a learner. It is a profession that can yield something amazing when the right ideas and beliefs are implemented in the classroom. Teaching is when a person introduces a new idea or subject to another person. A person that is taught is able to learn new and exciting things that they […]

The Power of Markets Meandering introduction to markets, utility, market price, etc. Lots of bald statements and glib stories with no evidence or references. 2: Incentive Matter More stories, this time about incentives. Why they matter and why it is hard to fix markets that have bad outcomes because of bad incentive structures. He repeats Steven Levity’s story about real estate brokers. On p. 33 […]

This was done by using the marketing strategies that may have been used in the past. Strategies such as repackaging of the products such as Big Macs into paper-based cartons and the redesigning of the plastics and paper bags used in its restaurant franchises are among these. This strategy goes after the target market of the company which mainly focuses on the younger segment of […]

INTRODUCTION TO ECONOMICS Exercise 1 1. What determines that a resource be scarce? Why is scarcity important in defining Economics as a science Resources are seen as being scarce, when the wants exceed the resources. The fundamental problem of economics relates to the choices made in the face of limited resources and unlimited wants. 2. Read your local newspaper and economic magazines. Explain the difference […]

The world’s second-largest economy saw a fall of 15. 2% in Gross Domestic Product (GAP) between 2008 and 2009. Japan’s economy is dependent on exports, which fell by a record 26% in the last quarter of 2008, forcing companies to cut production as they had much spare capacity. Business investment declined by 10. 4% during 2008. Weaker domestic consumer demand was also a cause in […]

Your cousin Vine owns a painting company with fixed costs of $200 and the schedule for variable costs as below. What is the efficient scale of the painting company? Quantity of Houses Painted per Month Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would […]

Macroeconomics refers to issues which influence a countries growth in terms of effecting positive impact. Microeconomic stability refers to the situation where by a country’s economic conditions are favorable and therefore conditions are conducive for growth. Population growth is often portrayed as causing poverty and environmental degradation, and thus population control is seen as a means of improving living standards. There is a growing concern […]

The Savings and Loan crisis of the late 1980’s and early 1990’s cost approximately $160 billion, out of which the American taxpayer shouldered in excess of $120 billion in Government bailout measures. The huge budget deficits that resulted can only be compared to the current global economic crisis. However, the genesis of the S & L crisis can be traced back to the failed economic […]

Belarus”s economy has done fairly well from the situation it started in. The economy has some strengths, but it is also not without its weaknesses. Also the Republic has not done yet enough to restructure its economy after the break up of the USSR. Belarus has a fairly well balanced economy with an agriculture capable of feeding its population and a well developed industrial base. […]

The Three Basic Economic Questions 1. What to Produce? what items to produce and how much of each item to produce using its productive inputs in the most efficient manner. 2. How to Produce? One the decision has been made regarding what to produce. each country must choose which resources productive inputs will be used and in what combinations 3. For Whom to Produce? Should […]