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Economics Essay Examples

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Naked Economics

Chapter 1: The Power of Markets 1. What are the two basic assumptions that economists make about individuals and firms? The two basic assumptions that economists make about individuals and firms are that they attempt to maximize their utility using the available resources and that they want to make the most amount of profit possible….

Managerial Economics

Managerial economics is a science that deals with the application of various economics theories, principles, concepts and techniques to business management in order to solve business and management problems It deals with the practical application of economic theory and methodology to decision-making problems faced by private, public and non profit making organizations.. In the words…

Explain how the equilibrium level of output is determined in perfect competition

The equilibrium is the point where economic forces are balanced and there are no external influences. The equilibrium is the condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. Perfect competition describes…

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The extent to which the principles of “Scientific management” are still relevant to modern organizations

At the beginning of the Second World War, Taylorism “disappeared” and was replaced with another form of work organization: Fordism. Fordism appeared when Ford started producing Model T cars but by basing his production upon Taylorist lines. Scientific management was still used; there was an explicit distinction between management and workforce, each employee had a…

Using the theory of ‘fiscal federalism’

There is much economic literature and debate concerning the classic trade-off between a centralized versus decentralized system of local public good provision. The standard problem goes as follows. Most economies around the world are made up of geographically discrete areas. An obvious example is America, which is composed of distinct states, which are often even…

Is it possible to identify who is to blame for the debt crisis

The debt crisis, a term used for discussing the situation of third world debt, is an extremely complex issue, with multiple factors affecting the constantly fluctuating and increasing problem that many of the least developed countries (LDCs) are still facing today. One of the key aspects of the debt crisis is not necessarily the loans…

The Role of expatriation in MNC International Assignments

This assignment examines the role of expatriate staff in the success of a multinational corporation (MNC) reviewing literature on international human resource management, knowledge transfer, the benefits of employing expatriates for international assignments and cross cultural training. The literature stipulates that having experienced international staff is a principle source of competitive advantage for a multinational…

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