As a field of study, economics refers to the most efficient ways to allocate scarce goods and services to acquire wealth.
Essays on economics often focus on the significant schools of thought in the field. Students are encouraged to ask the right questions and compare the various approaches. Another option is to analyze the underlying causes of recessions in the history of economics.. Another good idea would be to write a paper about culture’s effect on economics.
Keep reading to see excellent economics essay examples on various related topics. These paper examples will help you structure your ideas.
The Determinants That Lead to the Price Changes in the Australian Vegetable Market Increase in the Price of Inputs Following challenges in the agricultural output of vegetables in Australia, the price of vegetables has gone up. In particular, several determinants of vegetable prices in Australia have been impacted to cause...
Introduction Government policies play an important role in influencing the economic landscape of a country’s taxation regulation. Nevertheless, it is essential to recognize instances in which economic policies deviate from biblical principles. This paper seeks to illustrate how the government has violated biblical principles in the sphere of economic policy,...
Introduction The automobile industry in Germany began in 1886, with the registration of the first vehicle powered by a gas engine. Nowadays, the sector has experienced tremendous expansion and global recognition. Germany is the leader in European vehicle sales and production, accounting for about 25% of produced passenger cars (Krzywdzinski,...
Research Gap Research on non-profit organizations shows that the Saudi Arabian economy has numerous issues that make it challenging for investors to venture into the country’s market. First, the government plays a role in developing policies that enhance the sustainability of business operations in the country. Second, the lack of...
Introduction Over the past few decades, there has been a meteoric rise in the number of multinational firms. Companies that are doing well now are the ones that dared to dream big and go global, seeking out new chances and markets. The most successful companies across the board have operations...
Introduction Saudi Arabia’s economy is heavily reliant on money from oil exports. Therefore, global oil price fluctuations may considerably influence the country’s economy. Since the Riyal is tied to the US dollar, the nation must keep massive foreign reserves in order to maintain stable exchange rates. As a result, variations...
Balanced Scorecard Definition The balanced scorecard is an essential component of any business plan, local or international. It outlines the steps that should be taken to keep a business running smoothly. A scorecard directs a project management group to consider the company from four perspectives: customers, finances, business operations, and...
India: Overview India is demographically one of the largest nations in the world, marginally behind China. The nation is considered a developing economy with a massive potential for growth and the capability to become heavily industrialized. The gross domestic product for India in 2021 was $3173 billion, but the GDP...
Introduction GDP is the most important indicator of the success of the economy. Despite the rather high coverage of factors, GDP does not take into account the gray market, foreign companies and the welfare of citizens. This indicator is directly related to the business cycle, rising during peaks and falling...
Introduction The global financial crisis is when the global banking systems and financial markets experience a lot of stress due to an uncontrollable economic trend. The period, mid-2007 to early 2009, saw a decline in financial markets and banking systems in America and other parts of the world. The crisis...
Introduction Many of Walmart’s rivals and other businesses operating in entirely different marketplaces have embraced the techniques that Walmart invented. Walmart pioneered ideas that have become industry norms. Several of these ideas are overtly related to how the firm constructs and manages its supply chain. Walmart has integrated automation and...
Introduction As the target industry to analyze, the soft drinks sphere is selected. This area is characterized by sustainable income, and the examples of global corporations, such as Coca-Cola and PepsiCo, prove this. The main share of production falls on carbonated soft beverages. According to Sabetta (1), despite the drop...
Introduction American society was significantly impacted by industrialization, both positively and negatively. The expansion of cities due to people moving from rural to urban areas in search of work in factories and other industrial establishments was one of the most significant changes (Haraguchi et al., 2019). Industrialization increased production, which...
Description of the Good and Its Main Characteristics Coffee is more than just a drink people drink every day. A cup of coffee is essential to getting the day started. It has a huge impact on the international beverage industry, ranking as the second most consumed beverage worldwide after water....
What causes sales to go down? When sales go down, it can be challenging to pinpoint the exact cause, as multiple factors can contribute to this phenomenon. Firstly, consumer demand is a major factor when it comes to the financial state of a business. If there is a decrease in...
Introduction I submit this report to record, examine, and explain the macroeconomic policy choices I made in my capacity as Econland’s main economic policy advisor for the benefit of the incoming administration. By improving our knowledge of the connection between macroeconomic policies and the effects they have on our citizens,...
Executive Summary This report assesses Tesla Superchargers in Ontario, Canada, and proposes E.V. infrastructure improvements. This paper will discuss E.V. adoption challenges in Ontario and suggest expanding charging infrastructure, especially Tesla Superchargers. This report evaluates Tesla Superchargers in Ontario and proposes ways to expand access. This study examines Ontario’s electric...
Introduction Global performance management (GPM) is an important Human Resource (HR) tool used by organizations to ensure their teams, whether expatriate or Host Country Nationals (HCN), are properly trained for success in a globalized business environment. Through GPM, Human Resource Managers (HRM) can measure and motivate employee performance, whether in...
Unemployment and inflation are two of the most critical macroeconomic challenges the central government and the Federal Reserve must address to keep the economy functioning. This study will look at the historical link between unemployment and inflation, distinguish between the short-run and long-run in economic research, and assess recent 20-year...
Multinational corporations have a significant influence on the formation of the social and economic context in the world. This is because, due to their development, they rely heavily on outsourcing workers. This action makes it possible to provide more jobs and improve lives in developing countries. At the same time,...
This article will be useful to those who want to learn more about doing business and entering the international trading arena. In the modern world, globalization is one of the most important economic processes that allows establishing strong trade relations. Integrations to some extent occur on the territory of all...
Introduction Consumer behavior is how people act when buying goods and services. Consumers make purchasing decisions based on their needs, wants, and preferences. They consider many factors before purchasing, such as price, quality, brand name, and product availability. In contrast, consumers who make purchases for personal use or consumption purposes...
Common Information for Each Country Information United States Argentina Government Type Federation Republic Commonly Spoken Languages English, Spanish Spanish Commonly Practiced Religions Christianity (Protestants) Christianity (Catholics) How to Greet Men and Women Firm handshake, direct eye contact; Titles: Mr, Mrs, Ms Shaking hands (also in business context), kiss on each...
Introduction The Financial meltdown of 2008 was a period in which the financial market and the banking system faced an extreme monetary crisis. It was catalyzed by the United States housing market for the financial crisis that later spread down to the rest of the world through some of the...
Introduction The EU has shown a greater interest in rewiring globalization in recent years. The bloc’s efforts to alter vital parts of globalization are nothing new, but they have ramped up in the recent decade. This is crucial because the policies enacted by several European nations and the EU over...
Background The Federal Reserve System is the United States’ unique central bank. Overall, it promotes the smooth operation of the US economy and the public’s interest. Since its existence, the US government has undertaken critical initiatives by engaging in key economic bailouts to improve the effectiveness of the private sectors,...
Introduction The main goal of sustainable development is to preserve or increase the wealth (natural wealth created by human labor and human resources or social achievements) for future generations and, at the same time, minimize the consumption of non-renewable resources and eliminate ecosystem overload. The development of nuclear energy expands...
After the Second World War, the world economies adopted liberalization, free market, and open trade, which affected the countries policies. Open trade facilitated by technological advancements leads to economic globalization, investments, and economic improvement of impoverished nations. However, the trade deficit caused by open trade is dangerous for the US...
Introduction In the 60s of the XX century, South Korea was not only far behind in development from the North, but also in many ways inferior to the former colonial territories in Africa (Istiak, 2022). However, in less than two decades, the Republic of Korea eliminated its backlog (Yang, 2020)....
Corruption and unjust treatment of US stakeholders have resulted in social problems such as poverty, insecurity, high levels of violence, and economic inequality. As a result, investors optimize their revenue with limited resources. Policies are put in place employing new technology to alleviate these challenges. To remove corruption in the...
North Korea In the world community, North Korea is rightfully considered the most unfree and closed country in the world. In The Economist’s 2021 Democracy Rankings, North Korea is ranked 165th out of 167 countries, ahead of only Taliban-controlled Afghanistan and Myanmar. Emerged in 1948 under the strict supervision of...
Federal Reserve The main purpose of the Federal Reserve (Fed) is to preserve the long-term stability of the country’s financial growth. The Fed achieves this goal by manipulating interest rates, managing the money supply, and regulating the markets. This involvement in the country’s financial position leads to changes in the...
Modern urban economics explores various issues of urbanization and urbanized area, including crime, housing, education, public transit, and other spheres. The main concern of the current urban economists relates to the problems that surround inequality in these above-mentioned spheres. In other words, the extreme differences in wealth and poverty levels...
Cultural adaptation as strategic management of global business There exist several recent publications or literature works on the effect of culture in shaping the management strategies of several types of business that deals in various products especially fast-moving food products like McDonald’s company. As per the research by Damić, Rajšić,...
Introduction The airline industry can broadly be split into two markets: passenger and cargo with sub-markets. The marketplace for air cargo services is made up of companies that sell aviation services and employ aircraft, including jets and helicopters, to move goods. The air cargo market comprises both scheduled and unscheduled...
Social development today is perceived as impossible without globalization as a trend covering different areas. Back in Europe in the 1950s, attempts to create a single market were made with appropriate freedoms for its participants, taking into account labor reserves, capital movements, and other aspects (Colantone 130). From a financial...
The COVID-19 pandemic has put pressure on many economic areas of the United States (US), including many areas of the service sector, with some nearly destroyed. Surprisingly, public recreation has been one of the few segments of the economy that has partially benefited from the pandemic, restrictions, and lockdowns. It...
Introduction A recession is a downturn in business activity that affects the entire economy and lasts for more than six months. It manifests itself in a decrease in production volumes, a reduction in household incomes, and an increase in unemployment. To better understand the essence of this phenomenon, one needs...
Many large companies sought to take measures to support the affected parties and reduce the negative impact of the coronavirus. Well-known giant technology companies, Facebook, Apple, Amazon, Microsoft, and Google (FAAMG), were among the few that benefited from the pandemic. While these firms have made their philanthropic contributions, their giving...
Background Behavioral Economics is the learning of psychology and how it is linked to the economic decision-making procedures of people and organizations, and how they behave the way do in the real world. For example, individuals always make optimal decisions that give them the best advantage and satisfaction. The assumption...
Abstract This paper presents a deep analysis of the economy of the United Arab Emirates, with the study of qualitative factors affecting the country’s development and macroeconomic indicators. The study proposes using the Solow growth model, which will analyze the GDP, unemployment, and public debt indicators to find the correlation...
The U.S. trade imbalance has topped $1 trillion as Americans purchase more toys, computers, and pharmaceuticals. The record deficit increased imports relative to exports. The imbalance has also made the U.S. increasingly reliant on China for consumer products (Swanson, 2022). Businesses and governments are buying equipment and machinery from low-cost...
Introduction Generally, the principle of people facing tradeoffs implies that everything has a price. According to Mankiw (2020), this principle states that to get something, people have to give up on something else in return. Following this logic, people constantly make decisions based on their current resource pool. In addition,...
Reasons a Company Might Do Business in a Foreign Country: A business can enter a foreign country to take advantage of cheaper production coats. A business enters to benefit from an untapped market opportunity A local government can offer business incentives to set up in their country Differences Between Countries...
The economy of a nation greatly plays an important role in ensuring the well-being of the people. The government should ensure the adoption of policies that will enhance great economic performance for the stability of the citizens and various enterprises in different sectors in the nation’s economy. Prices of commodities...
Introduction Competition has always been one of the strongest driving forces for development in various areas, regardless of the nature of enterprises’ work and the goals that organizations set in the short or long term. An opportunity to occupy a leading market niche opens up significant growth possibilities, and as...
Introduction Macroeconomic factors refer to large-scale aspects of the economy that provide insight into countries’ performance as economic actors while also having implications for tourism. Being related to the portion of the workforce that is not in paid employment, unemployment joins the ranks of determinants of macroeconomic trends. In Saudi...
It is worth noting that the economy of Saudi Arabia has not been directly influenced by the Russian-Ukrainian war, as neither country is among the Kingdom’s major trading partners. However, Russia’s involvement in the war has impacted oil prices, leading to their global rise. As Saudi Arabia’s oil revenues grow...
New York has been a critical destination for immigrants arriving in the United States for decades. Nevertheless, scholarly research on the interaction of the gig economy and labor mobility is limited (Van Doorn et al., 2020). According to a recent FWD (2022) study of U.S. Census Bureau statistics, the state’s...
Title of the Article: Analysis of the Impact of Social Media on the Economy Publication Name: Atlantis Press Author: Cui, Zheyu Date: 15 December 2021 Economic Subject and Relevant Chapter: The 2021 3rd International Conference Proceedings, Chapter 2: The Development of Social Media. Social Media The article analyzes social media’s...
The Great Depression of the 1930s worsened the already grim economic situation of social minorities. During that time, millions of Americans lost their jobs in the 1929 stock market crash. The crisis that began in 1929 seemed, at first glance, to Americans to be a normal part of an economic...
I have chosen the visualization related to the growth of business during the pandemic of COVID-19 since it is curious to dispel the myth that the majority of companies disappeared within these two years. It is interesting to trace business-related patterns on the territory of the United States as the...
Introduction A country’s macroeconomic policies aim to reduce unemployment and inflation rates, which are significant challenges confronted by varying economies of scale. Both inflation and unemployment have a devastating impact on the economy. As a result, an analysis of vital components of unemployment and inflation will be covered. Although unemployment...
This article by D. Asteriou, K. Pilbeam, and C. Pratiwi “Public Debt and Economic Growth: Panel Data Evidence for Asian Countries” examines the concept of public debt in the context of Asian economies paying special attention to China and Japan. Public debt is the total amount owed by a state...
Introduction The term consumer behavior refers to the study of how people and businesses choose, employ, and discard products, services, ideas, and experiences to meet their desires and requirements. Those in marketing need a firm grasp of customer behavior in both its theoretical and practical forms. Consumers routinely weigh their...
The U.S. debt situation can indeed be considered problematic. From an economic point of view, the concern risks a default. If declared, it will significantly limit the possibilities of the Treasury Department, which will no longer be able to raise additional funds in the form of loans. To ensure that...
Gross National Product (GNP) is the monetary value of all of a nation’s final output (services and goods) in a specific year. GNP calculation is done by summing up the gross domestic product (GDP) of all the businesses and individual citizens in a country (Wan et al., 2022). The GNP...
Introduction Walmart Inc. is an American retail company that runs a chain of superstores. Currently, the company successfully operates over ten thousand stores in 24 countries (Walmart, 2022). As these countries’ political and legal environments vary substantially, it is crucial to consider how the company is impacted and whether it...
Introduction Today, Slovakia is a developed European country that has faced many economic problems characteristic of the European region. Due to the lockdown and the decrease in the growth rate of the world economy due to the fall of global trade by 8.9% in 2020, the country also found itself...
Introduction India, China, Bangladesh, and Vietnam are four of the top five clothing exporters worldwide. While each of the four nations has a strong clothing industry, each has a unique business environment that could be more or less suited to production requirements (Techpacker App, 2018). However, those countries have their...
Introduction Almost all modern people have ever asked themselves what the consequences would be if society became cashless. This is a rather complex question because numerous factors should be considered when answering it. While numerous humans enjoy paying with their smartphones and not having to search for the nearest ATM,...
In modern economic theory, there are four types of basic economic systems. A free market economy is a system based on the principles of free enterprise, competition, and contractual relations between business entities. In such an economic system, state intervention in economic activity is limited. This is a characteristic difference...
Trade barriers are government-imposed restrictions on the movement of commodities or services across borders. Limitations to trade are sometimes overt, but they are primarily covert and undetectable. China imposes several taxes and regulations that make commerce difficult. There are two main obstacles to trade: tariffs and non-tariff trade. Import duties...
Summary A comparative advantage concept is needed to understand the knowledge of global trade trends. Countries work to develop and preserve their competitive advantage to engage in global trade. Nonetheless, there are several and, at times, obscure aspects that lead to comparative advantage. Hence, countries are persistently trying to achieve...
Introduction The knowledge of economics is crucial for every society since it enables companies and individuals to understand how the market works. Economics encompasses several areas that each contribute to the stability of a given company or country, which is why it is essential to understand the concepts. Traffic congestion,...
Saudi Arabia’s Participation in the World Trade Organization (WTO) The World Trade Organization (WTO) is an international trade organization located in Geneva, Switzerland. Being the only global international trade organization, the WTO’s primary role is to set rules to govern trade across its member nations. Since joining the WTO on...
Introduction The European Union (EU) economic bloc is one of the largest trading bodies in the world. The bloc comprises 27 member states and its purpose is to foster trade and economic growth among partner countries (Huang and Reilly, 2018, p. 196). The United Kingdom (UK) is among the first...
Introduction Globalization is a process that slowly interconnects the nations of the world through trade, fruitful partnerships and cooperation. Members of the international community derive personal benefits to their economies, growing more productive, prosperous and technologically advanced as a result. In the socio-political landscape of the modern age, the US...
Introduction America’s Cup is a world-renowned sporting event that draws millions of fans and sailing enthusiasts who come to witness intriguing races and breathtaking historical events. As a result, any nation would be willing and honored to host these competitions because of the associated economic benefits and a boom in...
Multinational corporations (MNCs) typically choose to outsource their production to developing states because it is cheaper and allows these companies to make more profits. Inevitably, this practice has an effect on the local communities. One of such MNCs that uses the outsourcing practice is Nike. This paper will examine the...
Vision The vision of the port in Abu Dhabi is expanding trade across the country: the enterprise is the sea gate not only of one city, but also of all the Arab Emirates. This is due to the fact that ports have a key role to play in the development...
Introduction Unemployment may be defined as the state of not having a job. An example of an unemployment rate is when a specific number of individuals in America seek a job but are unable to find it. This percentage is referred to as the unemployment rate. On the other hand,...
Introduction Sustainable business practices are the actions that allow enterprises to significantly reduce their negative impacts on the surroundings while, in return, still making the companies and business enterprises make profits. Business sustainability falls under the broad corporate social responsibility, which refers to the business actions that promote fairness and...
Introduction China is one of the largest economies in the world, rivaling the United States of America and the economies of other developed countries. The status of the Chinese economy is attributed to consistent growth of approximately 8% annually. It is also characterized by rapid industrialization, urbanization, and greater openness...
Elasticity is a measure of how much a certain quantity changes in response to a change in another quantity. In economics, elasticity is used to measure how responsive one economic variable is to changes in another. It can be used to measure the impact of price changes on demand or...
Introduction & Thank You! Real estate holdings are one of the best ways to grow the business’s net worth and its earnings, but it can be daunting to go about, both for beginners and seasoned investors. The Multi-Family property is one of the best asset classes in the real estate...
The book Our Global Neighborhood presents a political agenda for a new world order in the aftermath of the Cold War, with a significant emphasis on globalization and economic interdependence, global governance with expanded powers for the United Nations, along with the common security and the rule of law. Global...
Introduction The study of aggregate economic structures, as well as the functioning and behavior of economies, is known as macroeconomics. Price levels, gross domestic product (GDP), unemployment, inflation, national income, and economic growth are all under the umbrella term macroeconomics. The economy of the United States of America (US) is...
Commodities have always been controversial since there are questions about whether they are a blessing or a curse. Since the creation of civilization, the stronger nations sought to overtake smaller communities rich in gold, diamonds, oil, or other commodities. In this sense, this became more of a hunger for wealth...
The technological advancements over the past decades have propelled many spheres forward and enabled businesses to embrace more effective ways of handling their operations. The emergence of affordable and user-friendly computers, as well as the creation of electronic payment systems, enhanced commerce worldwide. The field of international trade is among...
From this course, I drew several basic and important, in my opinion, conclusions. The first conclusion I came to based on Week 1 is that for companies in today’s world to make money and have many customers, they must outperform other manufacturers in their niche. To stay competitive and outperform...
Introduction Microeconomics is a system or branch of economics that studies the functioning of firms and markets. The discipline compares and shows the arrangements of these economic agents and how they are influenced by external and internal factors. This memorandum aims to identify and reveal key points in macroeconomics-based business...
Forbes News on Consumer Price Index (CPI) The selected item is a Forbes news event that addressed microeconomics concepts in CPI, business cycles, and economic growth. It identified the U.S. economy’s inflation peaks and weaknesses, where the price index results in a high unemployment rate (Broverman, 2022). For this study,...
In the world of economy, one of the key considerations is the elasticity of the price. In general, a product is considered to be elastic if the amount consumed or purchased fluctuates more than the price changes. The ratio of the allocation change in the quantity requested to the percentage...
Types of Trade Affecting the Tourism Industry Tourism is a rather diverse industry that depends heavily on international trade. The international tourism industry has specific properties: the presence of a resource orientation for the location of tourism enterprises, seasonality in the provision of services, and the development of information infrastructure....
Opportunity cost refers to the value of something when a specific course of action is selected by an individual. In other words, the opportunity cost is what a person must endure to achieve something (Fernando, 2022). The benefit or value that is being given up may include decisions in personal...
The Customs Administration is a vital organization responsible for overseeing and enforcing customs laws and regulations. As globalization transforms the global supply chain, custom administration agencies are forced to respond to these changes to ensure appropriate compliance and facilitation of international trade and travel when processing cargo and passengers. The...
Drug pricing has become one of the most pressing issues in recent years both in the US and outside of it. The public has been urging the government to establish regulations that cap the prices of certain essential drugs. On the other hand, drug companies resist the changes, citing possible...
Introduction In the context of the expanding network core of international relations, the analysis of the foreign policy of individual state and regional alliances is becoming increasingly significant. The European Union (EU) is an economic and political association of 28 European states (Oatley, 2018, p.12). The Maastricht Treaty legally enshrined...
Introduction The world’s economy has become a complex system of interrelated elements that encompasses global financial operations. Its development occurs in a strong relationship with the overall development of humanity, reflecting its current state. Positive trends in the economy and international affairs synergize, allowing the tendency to be maintained. Simultaneously,...
Management Information Systems (MIS) is the study of people, technology, organizations, and the relationships among them. The MIS field is responsible for developing and implementing systems that allow organizations to manage their data and resources more effectively. This field profoundly impacts globalization by helping to make organizations more connected and...
Introduction Productive business activities are influenced by human factors including labor and wage rates. Human work is significant to any economy since it determines the quality and quantity of products and services delivered by a particular firm. While many businesses compete for limited specialized and professional skills among the employees,...
Introduction Trade and trade relations are responsible for how a country and a region develop and grow. Transport is an essential commerce element since it helps key economies like North America and Europe drive their services and commodities. The essay analyzes the freight trade in both regions by understanding policies...
Background of the Study Religious tourism has become a key segment in the economy of the Kingdom of Saudi Arabia as it diversifies its revenue sources. Annually, millions of pilgrims visit Mecca for Hajj, the fifth pillar and the most symbolic demonstration of Islamic belief and oneness in the world....
Companies that operate worldwide differ from those focused on a single country based on various aspects, including vision. In their article, Chhotray et al. (2018) discuss the importance of vision, leadership, and empowerment in born global (BG) organizations, which are firms that were established to function in the international market....
Introduction The COVID-19 pandemic has affected all countries worldwide in many different ways. From the healthcare system to business, professionals in all life spheres have to change the usual working models, procedures, and tools to adjust to the new conditions. The shutdown policies adopted in many countries to stop the...
Introduction Dubai is a city in the Middle East that serves as the capital of the territories of Dubai, one of the seven zones constituting the United Arabs Emirates federation. As a modern setting, Dubai exhibits significantly unique features, including being the land of skyscrapers and unlike the other Middle...
Background There is a long history of human settlement along The Red Sea and Gulf of Aden (RSGA) coasts, which have served as a focal point for economic development, transportation and trade, and the extraction of natural resources from the ocean below. Today, the RSGA ‘s coastal regions serve as...
Economic Indicators Economic indicators can be defined as the metrics against which a nation’s economic power is gauged. They can also be viewed as key performance indicators. China’s economy is highlighted by several factors, with the three primary factors being the gross domestic product – GDP, the per capita GDP,...
Introduction The COVID-19 pandemic is, undoubtedly, one of the most terrible events and phenomena of the 21st century, as a result of which almost all public sectors have suffered. Moreover, coronavirus has hit both the economy and the business sector most painfully in practically every corner of the world. Following...
