Geographical unemployment occurs when people are without work because of immobilities in firms and workers moving to/from depressed regions. For example, London may have a booming job market with vacancies, however, an unemployed man in south Wales may be unable to take the job because of difficulties in moving to London. Alternatively, a firm may …
Countries with the highest government spending as a share of GDP. The countries with the highest levels of government spending as % of GDP are predominantly Western Europe and Scandinavia in particular. The countries with the lowest government spending as a % of GDP tend to be poor developing economies. The one notable exception is …
Monopoly power occurs when a firm has a dominant position in the market. A pure monopoly is when one firm has 100% of the market share. A firm might be considered to have monopoly power with more than 25% market share. The main benefits of monopolies include Economies of scale – lower average costs and …
An essay on the economic effects of a falling dollar. Between 2006 and early 2008, there was a 15% fall in the trade-weighted value of the dollar. Then from 2008 to 2011, there was another fall of around 15%. In summary, a fall in the value of the dollar will have these effects. Makes US …
Interesting article here, which claims that printer ink is the equivalent of $8,000 per gallon, which makes petrol look cheap. Printer Ink is expensive – $8,000 per gallon. Reasons Printer Ink is So Expensive? 1. Printers are sold cheaply. The business model of many printer companies is to sell printers at a low cost, and …
Flexible Labour Markets mean that the labour markets quickly adjust to a competitive equilibrium. Flexible labour markets involve factors such as: Easy to hire and fire workers. Labour is occupationally and geographically mobile. Government intervention does not distort the market. Characteristics of flexible markets A skilled workforce which can adapt to changing requirements. Flexible hours and …
Stakeholders are groups of people who are involved or affected by a particular business. The main stakeholders of a business are: Shareholders – people who own shares in the company Employees – workers employed by the company Customers – People who buy and use the products the firm makes Suppliers – Firms who sell raw …
Supply and demand are a fundamental basis of economics; they help explain the determination of price and output in different markets. The supply curve shows the amount of goods firms are willing to sell at different prices. At higher prices, it becomes more profitable to sell the goods, so supply tends to rise with the …