Essays on Chrystal

1. How do the laws of supply and demand vary with each economic system? In a market economy, the amount of demand is determined by the buyer’s needs and his/her level of earnings. The aggregate demand is a sum of individual demands of buyers for the product at a particular time. The higher the profitability of goods production is, the greater the supply will be. Command economy is characterized by the centralized decision of what, how, to whom and when to produce. Demand for goods and services is established on the basis of statistical data and the country’ ...

Introduction

The European Union is the result of the flow of economic integration in the world. It was created in 1958 and became a powerful economic group. Within the framework of the Union, the benefits of mutual trade are established, the general economic policy is carried out, and restrictions on the movement of goods, capital, and labor are constantly removed (Krugman, Obstfeld, and Melitz, 2014). The creation of the EU was due primarily to the fact that in Western Europe after the Second World War, the contradiction between the international character of modern production and the narrow national and state ...

Importance of Entrepreneurial Activity to the UK Economy

Assignments 2 Introduction The constant growth and evolution of economic relations, both between countries and between entrepreneurs within a country, are requirements for the creation of new business forms. Entrepreneurship is an important, but not a sufficient factor in economic and social developments of countries (Waschik, Fisher and Prentice, 2010). However, if left uncontrolled by the state, entrepreneurship can become just as harmful as the administrative-command system in an economy. Entrepreneurship is essential for the development of a competitive economic environment; in order to give the final consumers the freedom of choice, but does not content with goods offered ...

Importance of Entrepreneurial Activity to the UK Economy

Introduction Constantly growing and developing economic relations, both between countries and between participants within a country, are prerequisites for the creation of new forms of business. Entrepreneurship is an important, but not the only factor in economic and social development of many countries (Waschik, Fisher and Prentice, 2010). However, uncontrolled, no adjustable (wild) business (without the supervision of the state) is just as harmful as the administrative-command system. Entrepreneurship is essential for the development of a competitive environment, in order the final consumer of products has the right to choose, but does not content with goods offered to him/her ...

The concept of economic development is the expanded reproduction and gradual qualitative and structural positive changes in the economy, productive forces, factors of growth and development, education, science, culture, level and quality of life, human capital. Speaking about economic development as a process, it should be understood that it is characterized not by directness of its motion, but lack of uniformity, i. e. the periods of growth and recession are inevitable. It means an increase in the scale of the total production and consumption in the country, which is characterized above all by such macro-economic indicators as gross national ...

The Crystal Palace is a massive and very impressive building in London that was constructed from iron and glass in 1851 in Hyde Park in London specially for the Great Exhibition of that year. The Palace received its name from the magazine Punch, in which the playwright Douglas Jerrold called it in 1850 as “a palace of very crystal” . Though the building was very beautiful and seemed to have a promising future, after the end of exhibition the Crystal Palace was taken down and moved to Sydenham Hill, the place not far from London. The building there was kept ...

An ideal market place is one where demand is equal to supply leading to the right quantity of goods being supplied into the market. The goods that are supplied in the market must also be used or at least bought by the consumers in order to create a “perfect” market place. If this balance is changes or forced to change, then the resulting market would not be an ideal market. It would either be more goods supplied than demanded or more goods demanded then supplied. In either case, this will lead to higher than the actual or lower than the ...

Labor movements are unions that are formed to address the problems and challenges that face workers in their working environment such as reasonable working hours, safety in the working environment, better wages and salaries and also stop child labor. The movement also ensured that workers who got injured in their working environment and those who retired were compensated. Labor movements have changed over the years ad their purposes have also evolved. In the early years labor movement were male dominated but over the years women have also been involved in the labor movements and women’s movement groups have ...

The theft of copper and wire is on the increase not only in America but also world over. The increase in the incidents of theft is attributable to the global prices of copper, which have sky rocketed owing to the ever increasing demand for copper (Lipsey and Chrystal, 2011). Copper is used in practically all projects of construction, thus with increased expansion especially in China and India, the demand for it exceeds the production. The shortage in the production has been supplemented by the available supply, hence the theft of any available copper. The situation is compounded by ...

Introduction

Various instruments of macro-economic policy affect a country’s economy and the global economy at large. They include monetary policy, fiscal policy, and the supply side policy. Monetary policy is when the government decides to use the interest rates and the money in the economy to control the economy (Griffiths & Wall, 2012). This can be applied during recession to expand the economy, or during boom to restrict the economy. Fiscal Policy is used to direct the economy by deciding the expenditure of the government, the resources, and the taxation. The supply side policy is used to change the economic ...