Introduction Many people keep saying that the modern world is globalized, but it is necessary to explain what this statement means. Globalization is the process of international economic, political, cultural, and religious integration and unification. In other words, it implies the absence of strict borders among nations across the globe,...
The first Victoria’s Secret show took place in 1995 at the Plaza Hotel in New York. Back then, the audience did not see any of today’s iconic attributes of “angels”: no wings, no tiaras, and no glitter. By the way, there was no broadcast on TV either and the invited...
The concept of national competitiveness entails the ability of a country to grow and compete with other nations for resources, investment, or income. This phenomenon is impacted by multiple factors, affecting the work of various industries within a state, which means that analysis of national competitiveness demands consideration of all...
Among the tasks of management, including international management, is an adaptation to emerging troubles and problems of various kinds. Since the process of managing any business is constantly changing, a human resource management specialist must be able to adapt on the fly with minimal losses. However, the current market conditions...
In 2015, the German car manufacturer Volkswagen was accused by the American Environmental Protection Agency of using special devices to detect when the car was being tested for emissions. If they were activated, the carâs performance would be throttled to reduce the amount of harmful chemicals the vehicle produced. In...
Sometimes a company has to recall some product of theirs out of the market, and such situations often happen nowadays. Almost any kind of product may get under recall due to particular reasons. For example, a product may have insignificant defects, and others do not work as they are supposed...
Introduction There are many concerns related to the introduction of vending machines in schools. The opinions toward the vending machine’s application in educational organizations are divided into two camps. One side believes that the vending machine is detrimental and should not be used in schools to sell unhealthy food options....
Summary The outbreak of COVID-19 and its economic consequences is one of the current topics causing discussions among economists. In the article âInternational trade is back, boosting optimism about a global recovery,â Bartholomeusz (2021) proves that the global economy is recovering from the pandemic. He states that both fiscal solutions...
I believe that the main change would be the society and the economics becoming even more technology-oriented. During the lockdown, people started to realize that various technological solutions may replace or transform the common workflow in management, education, and even healthcare. Moreover, the pandemic has shown that businesses must use...
Throughout the past year, society has faced a major global challenge caused by the rapid outbreak of coronavirus disease. Apart from impacting the health of modern society, the pandemic considerably affected the international economy. China was the first country to address the critical implications posed by the epidemic and one...
Executive Summary The Nordic model and the Conservative Small State Models of labor employment relations are used in different countries. The Nordic model is characterized by strong trade unions, good welfare provisions, universal social rights, and strong labor market policies. However, the Nordic Model has disadvantages such as a rigid...
Introduction âRemember, that time is moneyâ (Weber, 1958, p. 187) Max Weber is the theorist, who supports Benjamin Franklins claim that time and money are closely related to each other. Throughout his work, The protestant ethic and the spirit of capitalism, Weber provides readers with evidence that time is the...
Introduction From the historical perspective, gold has been considered the most prevalent exchange medium, shaping the long-established gold standard monetary system. The gold standard currency structure implies the direct linkage between gold and the currency’s value. Therefore, the fixed price of gold established by a country defines the national monetary...
The term âsmall island statesâ implies countries and areas, which are predominantly neglected in the context of mainstream development. Due to their location, they have to cope with multiple challenges, and one of them regards the field of trade (Belobaba et al., 2015). It is crucial to understand the problems...
Introduction The ideology of globalization is a common but very contentious topic these days. It is among the most frequently addressed issues since the end of communism. As per Grant (pp. 16), debates on globalization include: whether globalization is taking place, if it is more relevant now than in the...
The concept of globalization is controversial, and it raises many questions about its positive and negative impacts on humanity. On the one hand, globalization influences market development, cultural exchange, science and technology, and other spheres of life, positively. However, such issues as environmental damage, job insecurity, or social issues triggered...
The North America Free Trade Agreement (NAFTA) has significantly influenced the economies of Mexico, Canada, and the United States since 1994. Therefore, it is apparent that renegotiating it can lead to serious consequences, both positive and negative. It is probable that many new work opportunities, especially in heavy manufacturing, would...
Economic ideologies significantly influence the well-being of the citizens, external affairs, and the internal conduct of a country. The most contrasting systems that were established in previous centuries are communism, socialism, and capitalism. Each of the economic schools possesses significant disparities and may exist as political regimes and financial systems,...
Introduction The process of rapid globalization has resulted in the enterprisesâ increased demand in terms of the product adjustment to the global market standards. According to researchers, global strategy is primarily aimed at developing a strategic plan for promoting the product in the markets throughout the world through the identification...
An essential element of the escalation of the trade conflict between the United States and other countries is the increase in the imports of cars. In February 2019, The United States announced a national security threat from imports of automotive products. As a result, The US Department of Commerce sent...
World Trade Organizationâs (n.d.) (WTO) website declares that the mission of this group is to ensure that nations can sign agreements that promote smooth trade. Another organization that advocates for free trade are the European Free Trade Association (EFTA), which is similar to WTO but focuses only on the cooperation...
Introduction The global business environment has experienced intense dynamism due to technological advancements. Multiple organizations across various industries have made a great effort to integrate innovative strategies in their daily operations to generate massive benefits. However, the growth in technology for organizations presents many challenges. Sony Inc., one of the...
Introduction Modern businesses operate in a globalized world, where different cultures are merged. However, managers still have to consider the specifications of the local’s behavior and the business’s economic environment. Moreover, consumers pay more attention to the ethical standards that a business declares, requiring strong corporate governance. This essay will...
Introduction Technology and trade are inextricably linked in today’s networked globe, influencing international Trade. This essay investigates the complex interrelationships between commerce and technology, looking at how developments in the field have transformed economic competitiveness, altered market dynamics, and changed trade practices. Technology advancements have radically changed how firms do...
Introduction Trade has both positive and negative impacts on the environment. A report by the International Energy Agency (IEA) (2021) revealed that the amount of carbon dioxide released into the atmosphere as a result of trade amounted to around 30-40%, which is a shocking number. However, it has also been...
Introduction Fair trade is a commercial relationship focused on conversation, transparency, and respect to achieve more equity in international commerce. It promotes sustainable development by providing improved trading conditions and protecting the rights of disadvantaged farmers and workers, particularly in the Southern regions. Fair trade organizations, supported by consumers, are...
Introduction The problem of gender bias pulls down the framework of social fairness and makes economic development crippling all owing the disparity in health, education, and employment outcomes of gender. Besides being a violation of fundamental human rights, these continuing gender inequalities act as an obstruction to the full utilization...
Introduction Demand and supply determine the prices of products and quantities manufactured and consumed. Consumers will exhaust the available supply of a product by buying a specific product at a high volume. It results in a rise in demand, which in turn decreases the available supply. The essay explores how...
Introduction The rise in the output of products and services throughout a certain time frame is referred to as economic growth. The measurement needs to account for the removal of inflation. The rise in a state’s overall production, often known as its actual Gross Domestic Product (GDP) or Gross National...
Summary When considering the interplay between domestic and international markets, the latter can significantly affect the former, especially in the context of open markets. Therefore, it is important to look at the imported and exported goods in the context of a country to determine how opening up to international trade...
Abstract This work will allow to observe the general picture of pricing in the market, and get acquainted with the process of establishing and changing equilibrium prices for interchangeable beverages tea and coffee. The initial prices of two products – tea and coffee, as well as their sales and demand...
Executive Summary The United Arab Emirates remain among the worldâs top humanitarian aid donor in relation to its Gross National Income. Further, through the use of its soft power, the country has effectively won the interests of the international communities. This has led to the opening of the UAE to...
Introduction The United Arab Emirates (UAE) is a federation formed in 1971 consisting of seven emirates, of which Abu Dhabi is the largest and wealthiest. Since its emergence, the UAE has been an economic powerhouse in the Gulf region and the broader Middle East. UAE is the 5th largest economy...
Circular-Flow Model of Economic Activity A circular-flow model of economic activity is a model that shows how money moves through an economic system. The most common version of this model represents the cyclical flow of income between the household and corporate sectors (Tsoulfidis & Tsaliki, 2019). Households buy goods and...
Introduction The notion of the governmentâs role in a countryâs economic growth is relatively recent. DâAnieri (2010, p.246) asserts that changes in a countryâs economy were perceived to result from natural calamities. This means that there is nothing that the government could do in order to influence economic growth. However,...
Introduction Discussion Economic theory points out that one significant factor describing differences in interest rates on different securities may be a variance in the time duration before securities mature. The term structure of interest rates can be explained as a relationship between the terms of securities and their market rates...
The main objective of a free economic system is to utilize the resources of the country in such a way that production of goods and services out of the available resources may be optimal. In essence, an economic system is characterized by supply and demand of commodities which may be...
Introduction The sphere of economics is one of the most difficult sciences for mankind. Nevertheless, scientists do not abandon their attempts to study this system, using a variety of tools that increase the effectiveness of research. A coefficient was chosen to analyze the economic situation in different regions called the...
Current Macroeconomic State Mexico is considered a top-tier economy by gross domestic product (GDP) with a significant dependency on US public policy. In fact, the nominal GDP for the year 2021 was $ 1.170 trillion, which is nearly the 15th position in the world list. At the same time, the...
Introduction In 2020, the world experienced a serious health crisis that affected peopleâs health and way of living. Americans were not exceptional as COVID-19 spread faster across the country, leading to a lockdown that saw to closing of many businesses. The economy is significantly affected and continues to suffer as...
Summary In 60 years, the United Arab Emirates (UAE) has transitioned from a precarious economy to an innovation-driven economy highlighted by a mass consumption society. Wise policymaking by the UAE Government was critical in giving appropriate advice on how, where, and when to deploy hydrocarbon income and facilitating the highly...
Summary of Articles “Infrastructure Spending Has the Maximum Bang for the Buck” (2021) The article is based on a media interview where Chief Economic adviser Krishnamurthy Subramanian talked to Joe C. Matthew and Rajeev Dubey about economic growth. According to Subramanian, to reduce overall macroeconomic uncertainty in a country, the...
The linear economy is founded on the principle of preventing waste by transforming natural resources into energy. When items are made and then thrown away as garbage, the environment suffers. Although recycling is well-established in our culture and efforts to improve resource efficiency are encouraged, efforts to ignore the limited...
Law of One Price and Purchasing Power Parity The modern context of the world economy accounts for significant varieties in the standards of living and economic stability across the world. The currency exchange rates and inflation demonstrate some evident disparities in the states’ economics and stability. Hence, while it would...
The study of the economies of countries and their development trends is of particular value. Hence, such information can help in the formation of a more effective policy in this area. The article under study highlights openness to trade and investment as the main driving force of the development of...
Transport is a mean of meeting needs through the transportation of goods and passengers. Transportation and logistics are part of economic activity associated with increasing the degree of satisfaction of people and entrepreneurship by changing the geographical location of goods and people. From the financial point of view, these concepts...
Introduction Civil aviation has become a multi-billion industry over the last decade following the growing demand for air transport. According to a report released by the Federal Aviation Administration, civil aviation impacts were $1.8 trillion in economic activities and over 10 million jobs created, resulting in $488.2 billion in earnings...
Introduction The federal minimum wage is a contentious socio-economic and political issue that has been debated since America entered the modern historical age. The first minimum wage was established at the state level as far back as 1912, but it was not until the policies of the Great Depression that...
Introduction The ongoing pandemic has a significant impact on all countriesâ macroeconomic situations, and one of the areas, which can be used for examining the trends in this field is unemployment. The significance of this topic is conditional upon its universal nature alongside the availability of substantial data, allowing to...
Introduction The beginning and fast spread of the coronavirus pandemics led to a variety of negative consequences, including economic, political, and public health issues. In response to the economic decrease because of COVID-19, the government of the Philippines introduced a Bayanihan to Heal as One Act that is supposed to...
Introduction Bangladesh became a sovereign nation in 1971 as a result of the victory in the Liberation War with Pakistan. Bangladesh is famous for the largest river delta in the world, Bengal tigers, Coxâs Bazar beach, which is the longest Asian natural sea beach, and the Malnicherra Tea Estate, and...
India and China’s economies India and China are among the oldest economies before civilization and posted immense wealth and wisdom in the eighteenth century. However, for the last two centuries, India and China have suffered an economic decline in per capita income and a steady rise in population. However, the...
Introduction Globalization is a dominant trend that drives the development of the worldâs economy. This phenomenon has resulted in the fact that all nations cooperate to contribute to overall growth. This state of affairs leads to the fact that some countries experience essential improvements that allow them to become more...
Transportation and economic systems are closely intertwined. Since transmission networks connect businesses, resources, and people around the world, their development has a significant impact on the economy. However, the connection between transportation investment and economic development is far deeper than it would seem. There is a clear need for further...
Abstract The primary concerns of the future are technological advances, which may lead to widespread adoption of Artificial Intelligence, and climate change, which necessitates sustainable development. Both of these are likely to significantly change the job market or the entire concept of work. It is certain that technology will continue...
According to Qatar National Vision 2030, the country is oriented toward active development in such spheres as economic progress, social progress, the development of human capital, and environmental development. This strategy, which was initially promoted by His Highness the Father Emir Sheikh Hamad Bin Khalifa Al-Thani and currently supported by...
Executive Summary Sustainable development and the circular economy are among the most relevant topics in current science. The purpose of this paper is to analyze the circular economy as a phenomenon, as well as its social consequences. Literature reviews, statistical data, academic articles, and SWOT models were used for this...
Introduction Stability becomes all the more crucial in the face of recurring crises in the world economy that may lead to severe recesses. One of the ways to make a given countryâs economy more stable is diversification, as highly-specialized countries exporting only a small range of products are generally more...
Introduction The problem of unemployment has been a concurrent social issue for many years in many countries of the world. High unemployment rates derive from the macro-and micro-economic situation, political context, and demographic trends, which all constitute an influential set of factors. For Arab countries of the Middle East, the...
Introduction Today, marijuana for medical purposes or recreational use is already legalized in several states in the U.S. Medical cannabis is legalized in Montana, North Dakota, Minnesota, Michigan, Illinois, Ohio, Pennsylvania, Maryland, Delaware, New Jersey, New York, Connecticut, Rhode Island, New Hampshire, Vermont, Arizona, New Mexico, Hawaii, Arkansas, Louisiana, and...
Introduction Geographical Location Haiti lies on Caribbean. It occupies one-third of Hispaniola Island. The Island is located between the Caribbean Sea, the North Atlantic Ocean and West of the Dominican Republic. The country was the first black republic to declare its independence on 1st of January, 1804. France colonized Haiti....
Introduction The MENA region consists of parts of North Africa and the Middle East. The region has great resources in the form of petroleum reserves and natural gas. Its economic stability is, therefore, mainly based on these resources. The region has about 45% of the world’s natural gas and up...
It is fair to say, that for many years oil was one of the most important factors, affecting the governmentâs policy and economical state of a country. In defining their home and foreign policy, the leading states, as well as the developing economies, take into account the influence of energy...
Introduction Small and Medium-Scale enterprises are very important for the economic growth and political stability of developing countries. However, their work is connected to a variety of problems including the economic, technological, political, social, legal, environmental, and ethical ones. In the following sector of the paper, possible solutions of these...
Introduction Productivity growth is an important parameter because it predicts the economic status of a country. The analysis of long-term and short-term trends shows that the economic productivity of the United States has been slowing down since 2010 after the recovery and expansionary phases following the global economic recession. Moreover,...
Introduction The need for entrepreneurship in the 21st century has undergone unprecedented growth. Different scholars have identified several reasons to explain the high rate of growth. Firstly, the increase in global competition has stimulated investors in different economic sectors to focus on developing the competitiveness of their businesses. In a...
Introduction Today, Canada is one of the most popular countries all over the world due to some of its places of interest such as Montreal City. Montreal is the biggest city in Quebec and the second-largest city within Canada. Originally referred to as âVille-Marieâ, the cityâs current name is retrieved...
Introduction In the book Applied Economics: Thinking Beyond Stage One, the author, Thomas Sowell, looks at several problems that have been present in history for centuries. The scholar considers two main approaches to their investigation â politics and economics, showing how economic analysis provides more insight into the long-term outcomes...
Introduction The book Common Sense Economics: What Everyone Should Know About Wealth and Prosperity by Gwartney et al. discusses some basic principles that constitute and support modern economics. In the first part, key elements are considered, while the next two parts talk about economic progress and the role that government...
Background and Context In the last two decades, the growth of the economies in the global south has mainly been driven by the commodities boom (McKinsey Global Institute, 2017). This was attributed to the explosion of industrialization in Asia, especially in China. The rapid growth of industries created a huge...
Introduction It has been proved beyond any doubt that education is an important tool in propelling the states of the world to higher levels of development. According to proponents of human capital theory like Schultz (1961) and Denison (1962), there is overwhelming evidence to the effect that education is an...
This working paper addresses the continued growth of Botswanaâs economy and the key factors contributing to the growth. The economic performance of Botswana has been remarkably contrasted with that of other countries in the region making it worth investigating. According to Iimi, Botswana is richly endowed naturally thereby making it...
Introduction China has experienced unparalleled economic growth in the last five decades, thus improving living standards in the country. Infrastructural development and international trade have also grown exceptionally during this period. However, this economic development has come with increased domestic and industrial water usage leading to severe shortages. The quality...
Introduction The global economy is in the process of emerging from a recession that hampered economic growth in most regions for the past two years or so. The recession was due to a combination of factors: runaway inflation, governments were running huge budget deficits and national debts which kept increasing,...
The development is âa historically produced discourseâ, produced massive impoverishment and underdevelopment, exploitation and oppression. Although many countries are concerned with improvement of economical situation in countries of Africa, Asia and Latin America, this policy only deteriorated situation with the passing of time. In fact, developed countries improve their economic...
Introduction This essay is on the biases identified by the Boskin Commission in the estimation of fiscal policy and the living standards on people in the US; it was basically an evaluation of the national price statistic. It is formatted in a way that explains on the methods they used...
Introduction Economics is a branch of business studies that explores ways of converting resources into finished products and services for human consumption. Therefore, it examines the processes involved in production, supply, and consumption of products and services. Economists define growth as an increase in quality or quantity of goods or...
Introduction Economic growth is the progressive increment of goods and services earned by people for the work done in a given period. The realization of development in a nation depends on the economic output from all sectors of business, which is measured in terms of gross domestic product (GDP) (Government...
Definition Economic growth relates to the growth and quality of the economy as a whole and the term is used to indicate the increase of per capita gross domestic product (GDP) or another measure of aggregate income or even a change in the gross domestic product over a country over...
Introduction âIn many years of central economic planning, with an outdated manufacturing industry, Romania was producing everything locallyâ (Watts, p. 34). The country was under the soviet bloc and in final years under Soviet bloc, Romania economy has been on a roller coaster ride, but, in 2000 the economy started...
Introduction Vietnam is located within 8° to 24° latitude, and between longitudes 102° and 110°.It is about 127,243 squire miles, that is basically the size of New México State in the US. It has a coastline of about 2,135 miles and is bordered by three countries that are china to...
Introduction The Asian financial crisis started in July 1997 in Thailand. During this time the financial institutions continuously incurred huge loss and as a result, some institutions were faced out of the market. The crises were mainly attributed to the banking panics which consequently led to the economic recession in...
Introduction Many countries across the globe have felt the reverberations of an economic crisis that was initially felt in the United States. This perhaps illustrates the fact that economic globalization is fast catching with us; as several economies are merged; and the reality that even in a given economy; no...
Abstract Using the current population report on consumer income issued in September 2009, we investigate the current income distribution situation in the United States of America (1967-2007 through 2008). We find that there was a reported decline in household median income although the income inequality remained static in 2007 and...
Kosovo-Serbia Negotiations There were numerous erstwhile grievances posted by the Albanian preponderance in the 1980s. For instance, one single most intriguing concern of this population was the quest to be granted the status of a republic. In addition, they petitioned for better living conditions which were notably pathetic during that...
Introduction A monopoly is a âtype of market that is mainly characterized by a large number of firms and products that are not considered to be perfect substitutes for one another but highly differentiated; this type of market is also characterized by sellers and suppliers who can set prices of...
Having abundant natural resources can either bring blessings or curses. It can be viewed as a blessing because, the discovery of these resources or an augmented worldwide market value of the same, increases a country’s income generation, and thus the expenditure possibilities of that economy are also increased. Conversely, it...
Introduction Goal setting is a generally accepted system that is used by managers to motivate their staff within an organization. The practice is mostly done through synchronization or aligning peopleâs objectives with those of the organization. As emphasized in the management by objectives, goal setting assists the managers to effectively...
Introduction South Africa is one of the world and Africaâs leading gold producers. Due to the changes in ownership structures, gold mining has been earmarked as the prospective venture for empowering native Africans. Harmony gold’s mining company has been at the forefront in championing empowerment initiatives. It is owned by...
Thesis Labor unions have been engaged in the struggles for their employees on the various rights and issues which they feel should be handled amicably by the employers both locally and nationally. It’s through this that the employees have been able to communicate well throughout the country for an urgent...
Introduction On January 1848, James Wilson Marshall discovered gold while he was constructing a saw mill at Sacramento, California along the American river. This did not catch the attention of San Francisco reporters as many did not believe him until May 1848 when Sam Brannan who was a store keeper...
Introduction After World War II, most countries of the world were left to grapple with the trail of destruction the war left behind. This destruction was replicated in different sectors of the economy, such as the agricultural, industrial, infrastructure, telecommunications, health, education, and trade sectors among others, resulting in economic...
Introduction With states and cultures dating back about six millennium years ago, China forms one among the oldest civilizations existing in today’s world. The civilization and ethnicity of China is the base of one of the world’s ancient and most composite civilizations. The country proudly possesses a history abounding in...
Introduction Power is an integral element in the development of a given country. Although power can be viewed from various perspectives, each perspective has a role in development. For stance, the power vested in a state can be instrumental in the development and formation of factors relevant for the facilitation...
Situation Guamâs population is expected to increase dramatically due to the military build-up that we anticipate in full force by 2011. The other kinds of changes that can be expected include more major equipment for the military and their operations, an increase in their training activities, more construction, changes or...
Ibn Khaldun is one of great Muslim scholars that lived in 14th century. Ibn Khaldun was born in Tunis, Tunisia in Northern Africa and lived from 1332-1406. At an early age, Khaldun received tradition education and he showed signs of a very bright student who was eager to learn. Khaldun...
Introduction Demand supply linkages in industries traditionally has been analyzed using chain models where the implicit assumption was that raw materials accumulated on the input side were amalgamated to form the end-product. Production function in economics describes this very relationship between inputs such as labour, capital, and raw material to...
Guiding Questions for the Overall Evaluation Process Which skills do you wish to gain after the completion of this program? How often do you apply critical thinking when making decisions? What are your current oratory skills? Are you a good speaker? Do you like making speeches in public? Which type...
Introduction Industrial relations management deals with how a company runs its industrial enterprises and employees. It mostly revolves around interactions between the company, employees, the government, and the related trade unions. The government plays a very important role in industrial relations. First of all, as an employer and secondly as...
Introduction Water is one of the most important natural resources. Lives for plants and animals cannot go on when water is not available and this is the reason why some authors have written books and articles with the titles, âWater is Lifeâ. Almost all lives on earth depend on water...
Introduction The European Union has emerged as a global actor as a result of European integration. EU policy systems are developed from various national policies for purposes of obtaining leverage and consensus on such issues as foreign affairs, economy, security, defense and immigration. The European Union continues to play an...
Abstract The purpose of this study is to bring to light the effects of the recession the world is facing at this juncture. The study will do a detailed analysis of how the crisis started, how it got spread to all the economies, and what was is role and responsibility...
