Economics

Impact of Fashion on Today’s Life

Each individual has a characteristic way when making a decision on a product they want to buy. However, today, it is rapidly being changed by the fashion, which claims that it advises the most charming goods to them. Therefore, the demand for these products increases enormously to create a lifestyle that is thought by people …

Mini Case on Corporate Competition from the Emerging Market

Do you believe these firms have truly resolved or conquered these trade-offs, or have they benefited from some other competitive advantage at this stage of their development? According to the OLI Paradigm, the a firm must first have some competitive advantage in their home market before going abroad, however these global challengers have been able …

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Dornbusch Views

His main focusing area of study was macro economics and international economics. His examination on exchange rate issues and his view on sticky markets, volatile markets and hyperinflation are a part of his research papers. He felt with the increased globalization the economies are becoming interdependent and this leads to a cyclical transfer of capitals …

The Differences Between Gross Domestic Income and Gross National Income

GDP stands for Gross Domestic Product and GNI stands for Gross National Income. GDP is the sum of the gross values added by all resident producers in the economy plus any product taxes and minus all subsidies not included in the value of the products. GDP is measured by the country’s overall economic output. GDP …

Economics and National Development

The term National development is very comprehensive. It includes all aspects of the nation. It is dynamic and revolutionary development. National development is the total effect of all citizens’ forces and addition to stock of all physical, human resources, knowledge and skill. National development is growth plus change; change in turn is social, cultural, and …

The Impact of Liberalism

Several scholars have come up with theories which try to guide countries on how to achieve development. One such theory is Liberalism. This essay aims to explain the theoretical assumptions of the liberal approach to development and to discuss its applicability to the development of modern day developing countries. It begins by defining the key …

Analysis of Economic Theories Related to Urban Agglomeration

Urbanization became an important issue of China as China keeps growing rapidly and deepening industrialization. Chinese government has promoted urbanization to benefit from agglomeration economies. And urbanization tendency is expected to continue. Generally, agglomeration economies in China are considered to play a positive role in recent rapid growth, but adverse reaction must be followed. Theories …

Benefits of Purchasing a New House

Whether to buy a house or not is a life changing decision. The principle that played a big part of purchasing a house was the cost of something is what you give up to get it. I had to compare the costs and benefits of either buying a house or renting a bigger apartment now …

Non-price Competition

Non-price Competition Non-price competition involves two major elements: product development and advertising. The major aims of product development are to produce a product that will sell well (i.e. one in high or potentially high demand) and that is different from rivals’ products (i.e. has a relatively inelastic demand due to lack of close substitutes). For …

Assumptions of Perfect Competition

Assumptions of Perfect Competition The model of perfect competition is built on four assumptions: • Firms are price takers. There are so many firms in the industry that each one produces an insignificantly small portion of total industry supply, and therefore has no power whatsoever to affect the price of the product. It faces a …

Impact of Corruption on Nigerian Economy

GENERAL ECONOMY OF NIGERIA (INTRODUCTION) Nigeria is a third world country located in West Africa. It is bound by Niger Republic and Chad to the north, the Atlantic Ocean to the south, Cameroun to the east and Benin Republic to the west. Its administrative capital is Abuja, and its commercial capital is Lagos. Nigeria is …

Emirates Airlines

Emirates Airlines is one of the leading airlines in the industry. It has maintained many sources of competitive advantage in terms of cost and uniqueness which had led to a cost advantage and differentiation advantage. Although cost advantage and differentiation advantage are mutually exclusive, Emirates Airlines was able to sustain both. As for the competitive …

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