Economics

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 …

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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 …

Sustainability reflection paper

HRIR 5000 Assignment 1: Initial Reflection Paper As a global citizen, it is challenging for me to live the way without compromising the needs of future generations. Because there are many new products and advertisements coming out every day to encourage you to buy something you want instead of something you need. However, as a …

Supply and Demand

Economics Unit 2: How Markets Work Investigating Price Changes Portfolio Project Part 1: Chapter 6 Wall Street Journal Questions 1) Why are sports teams considering switching to a variable–pricing strategy for tickets? Sports teams are switching to a variable-pricing strategy for tickets so that they can get a higher profit on games with record attendance …

Bachelor of Science, Business Management

Bachelor of Science, Business Management Student ID: Mentor: The scope of this paper is to define how firms maximizing their profit and identify what their ideal output levels should be and how profit maximizing businesses often react to marginal revenue of varying levels. The definition of Marginal revenue is the extra revenue that will be …

Importance of Transportation Infrastructure in Society

Transportation infrastructures are a key component of a nation’s critical infrastructures, covering physical assets such as airports, ports, and railway and mass transit networks as well as software systems such as traffic control systems. Transport systems composed of infrastructures, modes and terminals are so embedded in the socio-economic life of individuals, institutions and corporations that …

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