Answer to: What are the economic differences between a government's purchases of goods and services, compared to a government's transfer payments?...
The ultimate linchpin or "first domino" that necessarily affects all other currencies is probably the US dollar, since the US is a very central economy in the larger global economy, and ties many other economies together. When we are stupid with our money and investments in the US, or ...
Economic development is how low-income nations are transformed into modern and industrialized economies. The significance of economic development is that it helps improve living standards and fair wealth distribution. It takes programs and policies to enhance the quality of life....
The economies of nations are interconnected through the exchange of resources, products and money. As a result, there isn’t a country today that operates on its own in isolation. Countries that are rich in natural resources, such as oil for example, sell it to other countries for money or...
Economies of scope and economies of scale are concepts that explain why costs are often lower for larger companies. Economies of scope focus on the average total cost of the production of a variety of goods. Economies of scale focus on the cost advantage when there's a higher level of ...
Internal economies of scale happen when a company cuts costs internally, so they're unique to that particular firm. This may be the result of the sheer size of a company or because of decisions from the firm's management. There are different kinds of internal economies of scale. These inclu...
different causes and incentives. One example is of the Puritans. They were against the Church of England and they fled to America in 1620. Not only were they ready to go, the local government was more than happy to see them leave. Another instance where this occurred was with the ...
Business cycles, a term for fluctuating periods of economic strength and weakness, are a major topic of study in macroeconomics. Economics is a social science which analyzes the production, consumption and distribution of goods and services. Economics attempts to explain how economies and economic age...
Economies then started using systems of representative money. This began with banks or gold merchants issuing redeemable receipts. They issued the receipts to collect commodity money that people had deposited. Eventually, people began accepting these receipts as currency that could be traded. ...
What are the competitive advantages of Delta Airlines and which is the most important? How economies of scale is achieved? How can it be used as a competitive advantage in monopolistic competition? Explain. According to Porter, what factors determine the level of competitive...