economics

Consumer Surplus. Producer Surplus. Total Surplus.

Consumer Surplus. Producer Surplus. Total Surplus. How are these concepts used to explain welfare economics? How are these concepts used to explain the benefits of trade? How are these concepts used to explain why restricting trade reduces societal wellbeing? (Should trade be restricted in some circumstances, like the sale of organs ect, or should these …

Consumer Surplus. Producer Surplus. Total Surplus. Read More »

Consumer Surplus. Producer Surplus. Total Surplus.

Consumer Surplus. Producer Surplus. Total Surplus. How are these concepts used to explain welfare economics? How are these concepts used to explain the benefits of trade? How are these concepts used to explain why restricting trade reduces societal wellbeing? (Should trade be restricted in some circumstances, like the sale of organs ect, or should these …

Consumer Surplus. Producer Surplus. Total Surplus. Read More »

Understanding Deflation

A. Explain what is meant by deflation B. Explain the main causes of deflation. C. Differentiate between nominal inflation and real inflation. D. Use the information below to calculate the country’s real GDP in 2020 if the country has a hypothetical nominal GDP of $700 million. (Show all workings) Production Price per unit in units …

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The causes of economic underdevelopment

          International Relations scholars appear to disagree on the causes of economic underdevelopment, and unequal distribution of wealth among states. Neo-Marxist scholars explain these inequalities through a systemic theory, focusing on a world system that benefits some states disproportionally. Others argue that the causes of economic underdevelopment are to be found …

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Why it is important to understand the different types of economies

Compose a self-reflection on why it is important to understand the different types of economies in the social work profession. Consider the relationship between the state, the market and organizations in the creation of social policies and how different economic contexts (capitalism, socialist economy, mixed economy, neoliberalism and political economy) influence the creation of social …

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Why it is important to understand the different types of economies

Compose a self-reflection on why it is important to understand the different types of economies in the social work profession. Consider the relationship between the state, the market and organizations in the creation of social policies and how different economic contexts (capitalism, socialist economy, mixed economy, neoliberalism and political economy) influence the creation of social …

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