Economics : Page - 5

Site DetailsThis report presents an analysis of the proposed property development in Dundalk, County Louth in Leinster province, Ireland. The analysis is done by considering several factors including site cost (the cost of land) and both hard and soft building costs. The report then examines if the project is economically viable by comparing the total cost of the proposed development with that of another property that is located within a radiu...

State-centered TheoryThere are many approaches through which the ideas and concepts of governance has been realised and applied. Among these approaches the state-centred views and society-centred views are the most popular (Turner 2017). Both these approaches assist to understand the governance through the perspective of their importance for the citizen of the country. It leads to greater understanding of the complicated relationship of these ...

Perfect CompetitionMarket in general refers to a place where there are different sized shops with large and small sellers selling different types of goods. However, while consider in terms of economics market definition is not limited to any particular place. It is not always required for the parties to come in physical contact. Henceforth, in economics the concept of market is used in a specialized and typical sense.  It is not confined ...

Advantages of Economic GrowthEconomic Growth & Nations’ Long Term Interest The factors affecting nations’ long term interest can be categorised into macro factors (Political set up, Social forces, Legal framework, Advancement in Technology, Economy etc.) and micro economic factors (Economic growth, state of Inflation, employment level, poverty, equality of income etc.). Economic Growth is just one micro aspect that is related ...

Nepal's textile and plastics production possibility curve i) A decision to produce bundle D instead of bundle B will lead to an opportunity cost of 70 units of plastics. The above statement is true. The production level of plastics needs to be diminished from 100 units to 30 units as to enhance the textile production.  The opportunity cost denotes the amount of goods needs to be sacrificed in order to obtain other good in the monetary...

Trade situation between U.S. and ChinaThe United State trade with china is chunk complex economic relationship. In the year 1979 China and the U.S signed a bilateral trade agreement and reestablished diplomatic relations. This pave way to a fast growth of trade between the two nations. Now, China is the biggest trade partner of the United States and the third-largest merchandize export market and the very largest source of imports. Over the de...

Scarcity and resource allocationThe allocation of resources is one central problem of economies. The origin of the problem lies in the fact that people in the economy have unlimited wants. However, to satisfy these wants only limited resources are available. From this arises the issue of scarcity. The scarce resources need to be used optimally to meet desire of people as much as possible. Trade is an efficient way of allocating resources glo...

Answer: Introduction: The aspect of demand elasticity is one of the crucial aspects in decision making of any business. Demand elasticity indicates the extent of change in demand proportion following a change in different demand determining factors. Demand and hence sales of a business responds the most for a change in own price of the product, income level of buyers and price of its competitor’s product (Carbaugh, 2016). The different ...

RBA cash rate trends and changes  Figure 1: Trend in monthly cash rate in Australia (Source: rba.gov.au 2020) The trend in monthly cash rate target of Australia shows that there is an overtime declining trend. In order to give the economy necessary stimulus through monetary policy, Reserve Bank of Australia continuously lowered the cash rate with cash rate declines sharply from 14.00 in August 1990 to 0.75 in January 2020. RBA adjusted...

The concept of economies of scale and how they contribute to cost savings Economies of Scale refers to the advantages accrued by firms as the firms increase the level of production.(Chauhan, 2009)For example, in the beginning, the per capita cost for every seat of every airline is high. However, as the number of seats sold increases, the cost per unit or the marginal costs decreases. This is simply due to the fact that the fixed costs of runn...

Impact of export subsidy on beef trade between Australia and CanadaUnder a free trade agreement between Australia and Canada, it is agreed between the two countries that Australia will be exporting beef to Canada: If the government of Australia provides an export subsidy to those beef sellers who are exporting beef to Canada, then the export cost of beef will fall, which in turn will help the beef producers to charge less from the residents...

Trade Theories in the Global EconomyWith ever rising dependence between the economies, world market is now more complex in nature that makes it hard to develop ideal solution to assess the situation properly (Baumol and Blinder 2014). Though there were ideas in past that opening up economy deteriorates, however, researches over time has showcased that it not only aid to promote growth to the participating economy, moreover provides sustainabil...

Root Causes of the Greek Credit CrisisThe credit crisis which is faced by Greece is also the sovereign debt crisis in the aftermath of the financial crisis of 2007-2008. The Greece crisis have started in the late 2009. There are both external as well as internal factors which is known to the formation of crisis in Greece. The Greek crisis had been triggered as the result of Great Recession which is known to lead the budget deficit of various w...

There were incidents of oversupply and underutilization of train wagons which lead to the implementation of the TOPS system. There has been also economic crisis faced by the British freight which resulted due to the competition from road haulage. As a result of manual conversation, much of the information had been inaccurate as a result of manipulation of information by the supervisors. The senior operations management were also unaware of what ...

Macroeconomic Equilibrium and Variables Macroeconomic equilibrium in the economy is that state where the supply of the economy equal the demand of the of tee economy.   The changes in the variable of macro economy will be having an impact on the rate of unemployment, price and also on the rate of inflation.  The variables of macro economy is known to affect a large population and is also related to the economy at the nation...

Assumptions and Properties of Production Possibility FrontierFigure 1: Production Possibility Frontier for cars and bicycles The frontier that indicates feasible combinations of two products or services an economy can produce using all the available resources employed in the most efficient way. The production possibility frontier also known as production possibility curve represent the implication off scarcity and opportunity cost in the econ...

Canada's Capitalism System and Economic SouthIntroduction The purpose of this essay is to discuss the reason behind the improvement of work and learning in Canada and economic South. One such reasons is taking democratic practices into account. The essay aims in discussing the concept of economic south and the need for introducing democratic practices into work and learning experience in Canada. It has been observed that in Canada, the capit...

Definition of Economic EfficiencyEconomic efficiency can be stated as that state in the economy in those cases where each and every resource will be optimally allocated for serving the individual in the best way. In case of an efficient economy, when a change is made in the entity it will be changing the other as well. Goods are generally produced at their lowest possible cost with variable inputs of production. Therefore, economic efficienc...

Funding composition of Australian banks and the impact of global financial crisis1.In Australia, banking sector has changed its funding composition over the years through altering funding costs and rates of lending. This situation can be analysed precisely in the context of global financial crisis, as this has adversely affected funding composition and costs of banks in Australia. The flow-on effects have affected lending rates as well as net ...

Pharma economics in Australia and New ZealandAustralia and New Zealand are two neighbouring nations who possess much amount of similarity in terms of economic policies as well in terms of geographical topologies too. Over the years, a distinct feature that has become prominent within two countries is pharma economics and it mainly deals with the medical policies in the state (1). Though, in case of policies, these two economies differ by a mod...

The CRR Report and CommInsure breachesPart 1 No. The CRR Report and CommInsure breaches References The CBA Code of Conduct and CommInsure breaches References 1 The CRR talks about sustainability. This principle was not bleached by CommInsure as a comprehensive review of the 2017 CBA’s CSR report, reveals that CBA has innovation, education, and sound business practices as descriptors of its corpo...

Causes of the Oil CrisisIn 1970s, American oil intake in form of gasoline and other connected products were on the rise. The USA had domestic oil production companies but their production was on the decline due to the Arctic drilling controversy which has been there since 1977, American oil fields are also not rich like Arabian oil fields. This has made the United States depend on imported oil. Despite this Americans worried little about the s...

Equilibrium Wage Rate and Labour Market AnalysisAnswer 1 A minimum wage is the lowest amount of payment that the employer needs to pay to the employee (i.e. the wage earners) for a set period of time which cannot further reduced by an set of contract or agreement (Jardim et al. 2017). Binding minimum wage is set above the wage equilibrium level where the firms are forced to pay and are not willing to hire at this particular wage. Answer 2 A...

Brief OverviewIn real world, people receive greatest benefits and satisfaction by taking optimal decisions. In the field of economics, people get large number of options along with scarcity constraint from where they need to select the best option that can satisfy them significantly. In this context, behavioural economics deal with psychological and economical aspects of a human to understand about their irrational activity at the time of decisi...

The Role of Government Intervention in the Petroleum Market The petroleum industry in the Australia is one of the highest contributors in the world. Australia has about 257 trillion cubic feet of the resources of gas (Valadkhani and Smyth 2018). The petroleum industry of the Western Australia is also one of the largest contributors of most of the petroleum goods.  The government should continue to intervene the marketing for petroleum ...