Economics Articles

Essays on topical issues, latest developments in UK and global economies, and answers to readers questions

Reasons for falling price of electronic goods

Posted on October 19, 2019

With any new technology – especially electronic goods (TVs, computers, cameras), we tend to see a sharp fall in price over time. Initially, the new technology is very expensive, and a high percentage of disposable income, but over time, prices tend to fall considerably. There are a number of reasons to explain this fall in …


Facts about Global Poverty

Posted on October 18, 2019

In 2013, 11.2% of the world population had a daily income of less than $1.90 (WB) In 2013, 48.7% of the world population had a daily income of less than $5.50 (WB) In 2015, 736 million people lived on less than $1.90 a day, down from 1.85 billion in 1990 (WB) According to UN report …


Causes of resource scarcity

Posted on October 17, 2019

Resource scarcity is defined as a situation where demand for a natural resource is exceeding the supply – leading to a decline in available resources. When we talk about scarce resources, we usually imply that current use is unsustainable in the long-term. Scarcity can involve non-renewable resources, such as oil, precious metals and helium. It …