The Gas Station Argument: Why Direct Competition Leads To Different Prices
Fields. Rural towns. Big cities. Different gas stations charge different prices. This is a simple principle in economics. Price elasticity of demand. To Calculate elasticity…
The Challenges Of Creating a “Fair” Economic System In 2017
The idea of ‘fairness’ in economic terms can be interpreted in several ways. For example: Is it fair that capitalism allows multinational company’s like…
Does A Faltering Economy Promote Radicalism?
Introduction
Since the infamous 9/11 terror attacks that shook America, and indeed, much of the developed world, many academics have all been looking for exactly what is…
Understanding The Importance Of Globalization
Introduction
In short, Globalization is the free movement of goods, services and people across the world in a seamless and integrated manner. In other words,…
The Vehicle of Your Future
Introduction
Welcome, Tesla – the vehicle that will soon populate the already-crowded roads and America’s most valuable automaker as of April 2017. The good old…
How Geography Affects The Economy Of A Country
Geographical disadvantages face by the nations outside of Eurasia include not having access to the best crops or large, not having docile animals to…
Currency devaluation: Visualized
Introduction
Devaluation is an unconventional monetary policy tool by which the value of a country’s currency is officially lowered within a fixed exchange rate system,…
Germany’s Economic Model
Introduction
Imagine a country whose inhabitants work fewer hours than almost any others, whose workforce is not particularly productive and whose children spend less time…
The Two Factors That Influence Gold Prices
Here’s two of the most intuitive factors: Supply and demand as well as inflation.
It may be an oft-overlooked point, but simple supply-and-demand economics can…
What Does The “Law Of Demand” State?
The law of demand is a microeconomic law that states, all other factors being equal, as the price of a good or service increases,…
