Economics Page 2

The key objective is to avail the financial service that satisfy the need of the user or consumer without any discrimination. Its where Individual people and business institution have access to useful and reasonable priced financial products and services that satisfy the need of an individual and are delivered to them in a sustainable and…

Bhutan, a country situated in the South East Asian region, had a very few trading partners in the past however, things improved drastically for the country with it moving from closed to open economy (free trade) in the 1960s. Free trade is a trade where countries carry out economic activities without restrictions or barrier ‘such…

So, for selecting an alternative, our first step is to identify these flows carefully. Some of the relevant flow mistakes are allocating fixed costs, ignoring effects elsewhere in the company, including flows of unrelated activities. The second step is to evaluate the performance of an alternative with the help of these flows. If the flows…

Do we remember the clarion call of Shri Lal Bahadur Shashtri “jai jawan jai kissan” where he reached out and recognised the importance of both the soldier and the farmer equally in India’s survival story back then? In less than half a century we have suffered a permanent memory dystopia as both these cogs have…

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. —Friedrich August von Hayek The human race’s curiosity has expressed itself in the creation of various fields of study that examine specific aspects of the world around us. The ‘natural’ sciences like physics…

The main characteristics of an oligopoly are: The market is dominated by only a few companies, which are relatively large. The production of identical products which are similar. There are significant barriers to entry. The interdependence of production decisions within the market. An Oligopoly market exists in which a small number of firms dominate the…

.. will continue for some time (Table 4). Table 4. Urban per capita income Year Average Income (RMB) Growth Rate 1992 1,826.1 18.3% 1993 2,336.5 28.0% 1994 3,179.4 36.1% Source: Internet article: “How to Benefit from the Booming Retail Market in China” China has now developed large shopping centres and department stores in many provinces…

The right implementation of this tool is one of the greatest ways of assuring the quality of life within a society. The ability to better ourselves, is one of the strongest inherit abilities of the human race. Without the consistent development of the human race, life would be nothing more than survival. At its most…

  Since the beginning of time there have been opposing ideas on how a nation should be run and the importance of involvement of the government in everyday life. Capitalism and Socialism are two of the most important economic systems that have defined much of the world. Capitalism and Socialism are two individual ideas that…

It is an age of increasingly scarce resources and world markets. Enterprises face increasingly fierce competition not only from down the street but from enterprises halfway around the world that have access to cheaper labour, less expensive materials, or better technology. In the 1950s and 1960s, Americans made about one-quarter of all the manufactured goods…