Economic issues facing the world economy, as well as regions and countries, include prospects for growth, inflation, energy and the environment, inequality, labor issues, emerging markets, and the impact of new technologies. Upcoming Streaming Event
Economic issues facing the world economy, as well as regions and countries, include prospects for growth, inflation, energy and the environment, inequality, labor issues, emerging markets, and the impact of new technologies. Upcoming Streaming Event. Kristalina Georgieva (International Monetary Fund). RealTime Economic Issues Watch.
Environmental issues. Monopoly was an economic problem that Adam Smith was concerned about in his influential book of economics A Wealth of Nations. Economics is traditionally concerned with utility maximisation – allowing individuals to aim at increasing their economic welfare. However, this can ignore long-term considerations of environmental sustainability. For various reasons firms can gain monopoly power – and therefore the ability to set high prices to consumers. Given a lack of alternatives, monopolies can make high profits at the expense of consumers, causing inequality within society.
The authors study peculiarities of functioning of free economic zones that are an inseparable part of substantial changes in the institutional structure of the regional level of economy in the Russian Federation. Each regime is characterized as an important tool of regional economy. The directions of functioning of special economic zones (SEZ) and types of SEZ, which are established by the federal law, are presented
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Details (if other): Cancel. Thanks for telling us about the problem. by. Jonathan N. Kurtz (Contributor).
Encyclopedia of Sociology. Economic determinism refers to a kind of causality in which an economic variable x causes a condition of behavior y. This statement of direct causality contains very little actual economic deter-minism. But in stating that economic condition x is the most determining factor in causing behavior y, we have a model for economic determinism that is quite common in economics and sociology. This model appears in Weber’s (1979) Economy and Society; in his discussion of domination he states: Nor does domination utilize in every case economic power for its foundation and mainte-nance.
Choice and opportunity cost are two fundamental concepts in economics.
Resources are limited in two essential ways: Limited in physical quantity, as in the case of land, which has a finite quantity. Choice and opportunity cost are two fundamental concepts in economics. Given that resources are limited, producers and consumers have to make choices between competing alternatives. Individuals must choose how best to use their skill and effort, firms must choose how best to use their workers and machinery, and governments must choose how best to use taxpayer's money.
The economic problem – sometimes called the basic or central economic problem – asserts that an economy's finite resources are insufficient to satisfy all human wants and needs. Economics involves the study of how to allocate resources in conditions of scarcity. However, viewing economics as the study of how society allocates resources can lead to conflation of normative economic planning and empirical study of how economic agents operate in these conditions.
Instruments with good theoretic properties exist, but information and administrative issues make their implementation in the real world highly problematic. These challenges stem from more than the inability to meter nonpoint emissions.
Trying to understand what economics is about by studying definitions is like trying to learn to swim by reading an instruction manual. Formal analysis makes sense only once you have some practical experience
Trying to understand what economics is about by studying definitions is like trying to learn to swim by reading an instruction manual. Formal analysis makes sense only once you have some practical experience. In this section we discuss two economic issues to show how society allocates scarce resources between competing uses. In each case we see the importance of the questions what, how, and for whom to produce. Oil is an important commodity in modern economies.