Economics Articles by Tel Asiado — Knoji
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Tel Asiado has written 3 Economics articles, has received +25 recommendations and is currently the #1 ranked expert in this subject.
Here are Tel Asiado's articles in Economics:
The comparison of the U.S. federal budget to a household or family budget is a bad analogy. Cutting expenses will help to pay off you personal debt, but In times of recession, severe budget cuts or tax hikes will worsen the economy. Unlike individual consumers with limited lifetimes, the government cannot go out of business anytime soon. Borrowing is necessary to finance economic growth. Deficit as a dollar amount doesn't tell you much about the health of our economy, so deficit as a percent...
Published by H.A. Collins 68 months ago in Economics | +0 votes | 0 comments
Poorhouses were funded by federal, state, and local taxes. They were residential institutions where indigent and unemployed people were committed before public assistance and social security benefits were available to the elderly, disabled, and needy. There were some benefits given to the poor, but they were unlike Temporary Assistance for Needy Families (TANF), Aid for The Permanent and Totally Disabled (APTD), or Aid for Families With Dependent Children (AFDC), three of the more current welf...
Published by Amy Russell 71 months ago in Economics | +9 votes | 6 comments
While some are living in luxury, billions are living very obscure life due to poverty. Remarkable Slum Areas in the World.
Published by Nobert Bermosa 72 months ago in Economics | +3 votes | 6 comments
What are the babies of the intertidal zone and how valuable is this part of the coastal ecosystem?
Published by Patrick Regoniel 75 months ago in Economics | +11 votes | 6 comments
Global poverty is taking its severe shape because of the lack of sustainability between masses and state at social, economic, and political level. This generated several theories, including realism, liberalism, Marxism, and constructivism, from philosophers in different eras,
Published by Conviron Pucate Altatis 230 months ago in Economics | +0 votes | 0 comments
Capitalism is a type of economic system in which the production means are privately owned and are operated for profit in the competitive market. In the capitalist system, two types of incomes are related, which are profit and wages.
Published by Conviron Pucate Altatis 230 months ago in Economics | +0 votes | 0 comments
There are unimaginable riches that can be won from outerspace from near-earth asteroids and the solar system. The skill is already there what is lacking is the will.
Published by John Carter 78 months ago in Economics | +4 votes | 3 comments
The assumptions of Indifference Curves and their properties The indifference curve technique does not make use of the Marshallian concept of measurability of utility in quantitative terms. On the other hand, it is based upon the concept of scale of preferences and the ordinal measurement of utility. Utility is a subjective entity, a psychological feeling and is, therefore, not amenable to quantitative measurement.
Published by Gazu Lakhotia 81 months ago in Economics | +0 votes | 1 comments
Elasticity of demand and its practical importance The concept of elasticity of demand is not merely an abstract idea and of academic interest. Its practical importance is very great. (i) The concept of elasticity of demand is made practical use of by the Finance Minister and the monopolist. When the Government imposes a tax on a commodity, its price will tend to rise. But if the demand is very elastic, it will considerably fall when the price has risen. The result will be that Government will ...
Published by Gazu Lakhotia 81 months ago in Economics | +1 votes | 1 comments
Factors Determining Elasticity of Demand There are several factors which determine the elasticity of demand. (i)For necessaries and conventional necessaries the demand is inelastic or less elastic- We have to buy these commodities whatever be the price. A change in price, therefore, does not matter so far as the demand for such commodities is concerned. Salt is one such thing and wheat another. But in a poor country like India-even the demand for such things is somewhat elastic.
Published by Gazu Lakhotia 81 months ago in Economics | +3 votes | 0 comments
Degrees of Price Elasticity of Demand A change in price leads to a change in demand. If price increases, demand contracts, and vice versa. But variation in demand is not always uniform when there is a change in price. In some cases, with a given change in price, demand shows a marked change, whereas in other cases the demand is not so responsive to changes in price.
Published by Gazu Lakhotia 81 months ago in Economics | +1 votes | 1 comments
Derivation of the Law of Demand from the Law of Equimarginal Utility Price is one of the factors which bring about a change in demand. But in this case the change is called extension or contraction of demand. There are, however, several other factors which can bring about a change in demand independently of a change in price. In such cases, we shall say that the demand has really increased or decreased as distinguished from mere extension or contraction. T
Published by Gazu Lakhotia 81 months ago in Economics | +0 votes | 0 comments
Definition of the law of demand and the exceptions to the Law of Demand Generally the demand curve slopes downwards from left to right. Or, in other words, the higher the price of good, other things is remaining the same, the smaller will be the quantity normally bought. Similarly, the lower the price of a good, the greater will be the quantity normally purchased. This is in accordance with the law of diminishing marginal utility.
Published by Gazu Lakhotia 81 months ago in Economics | +4 votes | 1 comments
Defination (Meaning) of Demand Demand means the quantity of a commodity demanded per unit of time at a certain price. Types of Demand, (a) Price demand means the quantity demanded at a certain price. (b) Income Demand means the quantities demanded at the various levels of income. (c) Cross Demand denotes the quantities demanded with reference to a change in price of some other goods.
Published by Gazu Lakhotia 81 months ago in Economics | +3 votes | 2 comments
Main Shortcomings of Utility Analysis The utility analysis refers to the theory of consumer demand propounded by Marshall. This theory is based on the cardinal measurement of utility and on certain utilitarian premises. The marginal utility analysis has developed two laws, viz., the law of diminishing marginal utility and the law of equi-marginal utility and with the help of these two laws of consumer behavior, it has derived the law of demand. But this analysis suffers from the following short...
Published by Gazu Lakhotia 81 months ago in Economics | +1 votes | 0 comments
Basic Assumptions of Marginal Utility Analysis We shall first mention a few basic assumptions on which the marginal utility analysis is based. We shall see later how the marginal utility analysis has been criticized on the ground that the assumptions on which it is based are unrealistic or invalid. The following are the main assumptions:—
Published by Gazu Lakhotia 81 months ago in Economics | +0 votes | 1 comments
Practical importance of the law of Diminishing Marginal Utility The law of Diminishing Marginal Utility has enormous sensible importance. It is used in the discussion of various aspects of economic theory. For example, it is applied to the discussion of the theory of value. The law of Diminishing Marginal Utility furnishes the basis for the law of demand which together with the law of supply influence the determination of value
Published by Gazu Lakhotia 81 months ago in Economics | +0 votes | 1 comments
“Law of Equi-Marginal Utility” or "Law of Maximum Satisfaction'" We all know that our wants are competitive. We have, therefore, constantly to make a choice between the more urgent and the less urgent wants. When we are weighing in our mind whether to buy a little more or a little less of a commodity, it seems that we are trying to balance the marginal utility of the commodity and that of money. But what we are really balancing is the marginal utility of that particular commodity and th...
Published by Gazu Lakhotia 81 months ago in Economics | +1 votes | 1 comments
Criticism of the law of Diminishing Marginal utility Now let us consider the objections raised against this law and how far these objections are valid. According to the Law of Diminishing Marginal Utility, as we have more and more of a particular commodity, its marginal utility (i.e., additional utility from successive units) goes on falling. The main objections leveled against this law are as under:—
Published by Gazu Lakhotia 81 months ago in Economics | +1 votes | 0 comments
To truly benefit from the art or act of giving, the gift as well as the giver must be pure of heart. This simple phrase as a religious tenet is extremely complicated. The precept, pure of heart on the surface seems unobtainable for most of us.
Published by Abron Toure 81 months ago in Economics | +2 votes | 0 comments
Limitations of the Law of Diminishing Marginal Utility The law of Diminishing marginal Utility is subject to certain limitations. These limitations are of two types: (a) Exceptions and (b) Objections. In the law of diminishing marginal Utility it is assumed that the commodity is taken in suitable and reasonable units. If the units are too small, then the utility will at first increase instead of decreasing.
Published by Anuj Mundra 230 months ago in Economics | +0 votes | 0 comments
Definition of the Law of Diminishing Marginal Utility The Law of Diminishing Marginal Utility states the experience of individual customer. In the beginning when a consumer starts consuming a commodity, his want is urgent and the consumption of the commodity gives him immense satisfaction. But as the consumption proceeds, the satisfaction he derives from the consumption of the commodity diminishes progressively. The reason behind it is because the first unit met the urgent requirement of the co...
Published by Anuj Mundra 81 months ago in Economics | +1 votes | 0 comments
The word economy when used in business means a system of producing, distributing, and consuming wealth. If someone asks, “How is the economy,” he or she is referring to the condition of the economic system. Every society develops an economic system to supply the things that its people need and want. The private company system tries to produce and deliver things that consumers are most interested in having. Five important elements of an economy are (1) natural resources, (2) labor force, (3) ...
Published by Yanto Yulianto 230 months ago in Economics | +0 votes | 0 comments
The worst cases of hyperinflation in history. After World War II, Hungary came to have an inflation of 195% per day
Published by Luiz Sousa 230 months ago in Economics | +0 votes | 0 comments
Besides the complex political issues behind the series of riots in the Arab world and the Middle East, some economics help explain why the strain that has spread worldwide since the conflict began. One of them is the fact that almost 80% of world oil reserves are controlled by the countries of the Organization of Petroleum Exporting Countries (OPEC).
Published by Luiz Sousa 83 months ago in Economics | +3 votes | 0 comments
An intricate detail on why 3rd world countries and the causes of their poverty
Published by Armand Reneu 230 months ago in Economics | +0 votes | 0 comments
Limitations of Economics Resource results from a combination of nature, man, and culture. This combination may be termed as 'the trinity. There is a similar trinity in economic theory—land, labor and capital—as factors of production. The study of resources was for a long time confined to the' study of these factors of productions and was left to economics for understanding human economic life and activities. But in economics these factors are studied only as tools in the hand of entrep...
Published by Nikhil Agarwal 85 months ago in Economics | +1 votes | 0 comments
How Jevons paradox can be applied today to determine if energy efficiency will reduce the consumption of fossil fuels or other resources or if increases in efficiency will lead to increased demand and usage.
Published by Daniel Snyder 85 months ago in Economics | +7 votes | 0 comments
Facts and information about the founder of modern economics, Adam Smith, and his famous economic theory, The Wealth of Nations, that laid the foundation for free trade and open market.
Published by Tel Asiado 86 months ago in Economics | +5 votes | 2 comments
Published by kimberly a. balmaceda 230 months ago in Economics | +0 votes | 0 comments