Essays on Economics

Introduction The two modern schools that will be discussed in this paper are Keynesian and Neoclassical economics. In modern economics, capitalism is always referred back too. Capitalism involves the private ownership established upon two factors; means of production and distribution of goods. This occurs in…

The Gap, Inc. is a worldwide apparel retail company. The company offers products for men, women, and children in the departments of apparel, accessories, and personal care. The company has 6 brands: Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City. Their apparels include…

Beyond the scope of RR, public debt- economic growth nexus has historically been a contentious strand of economic analysis, involving many notable economists from various economic camps. There are two distinct schools of economics regarding the debt-growth nexus: Keynesian and Classical (Ricardian). Most economists involved…

Introduction Officially shopping malls are defined as “one or more buildings forming a complex of shops representing merchandisers, with interconnected walkways enabling visitors to walk from unit to unit. Unofficially, they are the heart and soul of communities, the foundation of retail economies, and a…

Background Viva Las Vegas, as many say! The City of Las Vegas became the most popular city in Nevada as it was first known as “Clark County.” The city is located in the Mojave Desert known which is known to be the driest desert within…

Introduction As we argue the difference between marginal product and marginal cost in this write-up lets quickly look at the definition of this two words. According to “the marginal product of labour refers to the number of products a company can manufacture if it hires…

Introduction Marginal cost (MC) is defined to as cost incurred in generating an incremental unit of output. It is also known as incremental cost. Marginal cost of production includes all of the costs that vary with that level of production. For example, if a company…

The Philippines has been through a lot, but Filipinos has always been strong, grateful, and happy. Philippine economy as we all know is not as great as some of the countries in the world nevertheless we’re not the poorest country either thanks to our not…

Introduction Thomas Friedman’s eye opening theory about the flattening of the world really awoke my perception of the current status of western countries in modern times and in the future. His most convincing quote, also the title of his first chapter, “While I was sleeping”…

What is Consumer Ethnocentrism? The more general concept of ethnocentrism stems from ethnocentrism of consumers. Ethnocentric individuals see their group as being superior to others. From their own perspective, they view other groups and decide to reject different groups and accept similar ones. Ethnocentrism of…