Economics Essays

A proximate cause is the first event in a chain of events that gives rise to a claim. There are two elements required to determine proximate cause: 1) the activity must produce a foreseeable risk 2) the injury must be caused directly by the defendant’s negligence Example: If a car …

There were certainly many factors that carried society away from the many pre-market economic methods that were applied in the Middle Ages. The premarket society was very antiquated; the economy stemmed from traditional values and methods, such as farming, slavery and the idea that “wealth tended to follow power” (21). …

In this topic, we will discuss the difference between perfect and imperfect competition, and explain how imperfect competition may have affected the growth and development of the telecommunications sector in Malaysia. 3.1 The difference between perfect and imperfect competition It is traditional to divide industries into categories according to the …

” There are no secret economies that nourish the poor; on the contrary, there are a host of special cost”, meaning that there isn’t any help for the poor but yet they have to pay for everything they need and have. Although it may be true in some cases but …

What motivates people at work? What motivates people at work? There are 5 factors that can motivate people to work. Firstly, salary, financial gains and bonuses can motivate people. People work for money to live. The higher salary they get, the more motivated they become. For example, if the employer …

Monopolies can be national (royal mail), regional (water companies) or local (petrol station). Unlike a perfect competition situation were firms are ‘price takers’ and only respond to consumer demand, a monopoly finds itself in an imperfect competition market. In this type of market the firm is more of a ‘price …

Unemployment is present in every economy and measures how healthy an economy is. It is when workers who are able and willing to work don’t have jobs. It is quite impossible to reach zero unemployment no matter how high aggregate demand is because there is always ‘natural unemployment’ that would …

Macroeconomics explores trends in the national economy as a whole considering the study of the sum of individual economic factors. Industry is affected by factors such as GDP, unemployment, inflation, interest rates, and consumer price index. Fiscal (government) policy can help guide the economy toward a particular track without dictating …

There comes a time when everybody must experience the discomfort, either positive or negative, in a economic situation. If you come from a low-income family, have you ever found yourself shopping at Saxs Fifth Avenue stores? Or if your wealthy, do you find yourself worry about the prices of such …

Human resources means when a business has a forecast and a projection of its future staff needs. This means that the business can develop appropriate strategies for the recruitment, training and development of its staff. Within a small business, with perhaps one or two employees, responsibility for human resources will …