Economics

Impact of the 4th Industrial Revolution on Textile Industry in Bangladesh Latest automation and technologies are observed to be spreading all across the globe which is primarily changing various industries including textile, footwear and apparel and this technologies aims at enhancing the environmental sustainability, productivity and efficiency at factory level. It is observed that textile industry is one of the major industry of Bangladesh ...

Monopolistic competition in the long run In both monopoly and monopolistically competitive market, the firm maximises their profit at the point where the MR is equal to the marginal cost. In both the cases the profit maximisation point is where the MC intersects the MR curve from below. In both the market setting the average revenue curve or the demand curve is downward sloping. This means the firm operating in both the markets experiences s...

The Debate over Iraq War and OilQuestion 1 The real reason for the invasion The American people were not unanimous in their support of the March 2003 invasion on Iraq. Former President George W. Bush defended the invasion of Iraq as a necessary action against terrorism after Iraqi tyrant Saddam Hussein was toppled and his country's WMDs were found. Lawmakers voted against the war because they thought that Iraq's oil supply would be in je...

When all the factors influencing demand are kept constant, as the price for goods increases, the demand falls and vice versa. Hence, the price and quantity for the demand of a good are inversely proportional. Therefore, the demand curve is downward sloping. Similarly, if all the factors remain the same, if the price of a good increases, the supply also rises and vice versa. Hence, the supply curve is upward sloping. The intersection of the f...

The Economic Concept of Maximizing UtilityThe question selected for the discussion is, "Why are the premium electronic products of big MNCs such as mobile phones and laptops overpriced in the market compared to its competitors?" The usage of advanced technology through various devices such as mobile phones, laptops, computers, wrist watches, and others among the people in the world makes a significant impact on the country's economy. The gl...

Overview of Technology, Media, and Telecommunications (TMT) IndustryTechnology, media, as well as telecommunications (TMT) encompass a broad variety of commercial development. There are no official industrial categorization schemes that include this industry aggregation, but TMT is prominent among traders and investors, maybe as various economic activities are intimately interrelated and the same market participants overlap. The technology and...

DiscussionThe Maldives is an island with 370 thousand inhabitants (O'Neill, 2021). Recent economic growth is attracting tourists and investors to this place. At the present time, there are two giant businesses namely, Dhiraagu and Wataniya Telecom competing in the telecommunication industry of Maldives. However, before 2006 (entry of Wataniya), Dhiraagu was the only player in this industry or it can be said that Dhiraagu firm was the industry ...

Monetary Policy Objectives in AustraliaPredominantly, monetary policy is one of the main macroeconomic tools by which the government of a country tries to control the aggregate economy. Essentially, it is a policy that involves influencing the economy through changes in the level of money supply as well as the availability of credit. Often, this measure is directed towards the stimulation of the aggregate economy and achievement of full employ...

Defining recessionGlobal financial crisis of 2007 has its long-term effect on many countries, making it a great recession of that period. The main driving factor behind the crisis was identified as the breakdown of financial system and consequent financial bubbles. The great recession until reached to its lowest point, destructed approximately $20 trillion assets of U.S household. Consequently, unemployment rate rose significantly in US. Impac...

Micro Economic Dynamics of the Automotive IndustryThe Volkswagen Group recently introduced its strategy for until the year 2025. The strategy also known as “Future Program Together” placed an emphasis on some key themes of Diversity of Brands,  Environmental Sustainability, and maintaining and improving Quality Standards. (Volkswagen AG, 2017) The group plans to gain leadership in electric vehicles by gaining costs a...

Section A: Wind Power GenerationBy the end of 2011, the United States’ wind generation will be the following percentage of the world’s installed wind generation capacity; = Total US generation capacity  x    100%  Total world generation capacity = 46919 x 100% 237,669 =19.7413% Thus, by the end of 2011, US produced 19.7413% of the worlds’ installed wind generation capacity. Assuming that all o...

Effort-based Payment Method1. a) Figure 1: Demand and Supply Curve (Source: As Created by author) As it can be observed from the above stated demand and supply curve the market will be assumed at the equilibrium level if the price of the quantity demanded is 4.20 per unit. At a price higher than the market equilibrium demand will be less than 8835 unit with a price of 4.20 per unit. From the above stated graphics it can be said that the d...

Rise of Arab Digital Generation (ADG)Global Digital Media Outlook An integrated view crossway the media landscape has become as critical in the contemporary world like never before. The traditional media consumption is increasingly under pressure from digital with consumers facing an ever-expanding range of content choices. This swift change is creating key challenges as well as opportunities for the media industry leaders (Berglez 2013). The...

Types of MarketsUnder the concept of economics market can be defined as the medium through which purchasers and the sellers that comprises of the transaction of goods and service. The meaning of the market is not only restricted to dealing physically in goods and service however it goes further than that. Categorization of the market is performed on the basis of the attributes namely the locations, forms of goods sold, total number of particip...

Essence of the storyNotably, education is regarded as a universal right in most developed countries. Despite this not all students have access to education without various challenges. This article focuses on the various shortcomings in the Australian Education sector. Primarily, unattractiveness of the teaching profession has led to shortage of teachers. Further, inequity in both private and public sector is experienced in some Australian States...

Overview of Aurizon Holdings LimitedThe report focuses on conducting an evaluation of Aurizon Holdings Limited in terms of its operation in Australia and a foreign branch like United States. It would also focus on conducting an economic analysis of the Australian and the Chinese market where Aurizon tends to export its products. Finally, sustainability analysis and evaluation of Aurizon would also be carried out in the report. The name of...

Main ideas of Hamilton and ListInternational political economy, which is also acknowledged as the Global Political Economy is the study of economics with respect to the international relations. It includes both the economic theories specially the macroeconomics and the politics to determine the present situation of the economy (Abdelal, Blyth and Parsons 2015). Whether it is Keynes or the Adam Smith, all of them have considered the internation...

Understanding Macroeconomics of GreeceThe year 2008 marked the beginning of the crisis for Greek Economy, from then the economy has been through serious economic problems. Unemployment is the country’s major economic problem. As per a report in Forbes (2017), IMF has projected unpleasant numbers for employment and population out to 2060. According to IMF, there would be a decline of 10% by 2060 in the working age population as suggested ...

Natural MonopolyIn general, monopolies are distinguished by high investment cost and high fixed cost. A natural monopoly is different in context to the existing concept of monopolies. It is characterised by a condition where a single firm is in a better position to serve in the market in comparison to two or more firms. In other words, where a single large business can serve the entire market at a lower price than other two or more smaller f...

OBOR: Implications and ExpectationsIn the contemporary economic world, several countries have emerged as economic leaders, with immense amount of economic activities and overall progress and development. China is one such leading global economy, dominating the international economic scenario for the last few decades. With immense economic progress and manufacturing expertise, the country now holds capacity to influence the international commer...

Use of Long-Term Economic policiesIn order to ensure the prosperity of the nation as well as the citizen's welfare, the country's government plays an important role. In this, the government develops long-term economic policies to facilitate economic growth. It is because the main emphasize of the government is to ensure economic growth in order to provide better life to the people (Pearson, 2000). The main purpose of this report is to discuss th...

Is industry policy still possible today?Industry policy also known as IP is a strategic effort which is used by developing and developed countries to encourage development and growth in parts of an economy. The IP is a way governments of such countries can improve the competitiveness and capabilities of the country’s domestic firms. Industry policy helps domestic firms through promotion of transformation. The content of this paper discus...

Why do Americans value bottled water more than gasoline?Question 1: Water is not scarce as gasoline in America. However, according to Americans bottled water has more value than gasoline and that is why they are willing to pay more for the water that is a renewable resource than for gas that is a non-renewable resource. Question 2: Water itself Culture When the Americans purchase bottled water at a higher price, it is because they are...

The Ballast Water Policy of VictoriaMost of the parts of Victoria, there are a number of water channels, which include bay, rivers, inlets, lakes and the coast. Victoria has roughly 2500 km of coastline, and there are more than 120 bays, inlets and estuaries along its dimensions. Victoria's three largest bays are Western Port, Corner Inlet and Port Phillip. The state also has more than 85,000 km of rivers and 13,000 natural wetlands. Victoria'...

Part 1: Elasticity The law of demand ‘expresses a relationship between the quantity demanded and its price’.( Economicsdiscussion.net, The Law of Demand) . For any good the law states state that as price rises the quantity demanded will fall, ceteris paribus assuming other things remain unchanged. The latter include the following  determinants of demand. We give examples for oil in brackets): Income of the buyer of oil ...