A theme that relates to trade with the Aksum’s is economics. Economics relates to the use of scarce resources. Goods and services produced by the Aksum’s were: tortoise shells‚ ivory‚ emeralds‚ gold‚ and salt. A major service the Aksum people provided was an extensive trading center for many countries and empires. Some of the countries and empires that traded and interacted with the Akums were: Egypt‚ Arabia‚ Persia‚ India‚ and the Roman empire. Aksum was a huge trading hub due to miles of coastline
Premium Christianity Islam Religion
Why are most countries mixed economies? Nowadays‚ most countries prefer to have joint economic systems‚ of both planned and market systems which is known as mixed economy. “ In a mixed economy‚ the government and private sector interact in solving economic problems” (David B‚ 2009:327). In other words‚ mixed economy is a combination of market economy and centrally planned economy. “A market economy is an economy in which decisions about production and consumption are made by individual producers
Premium Market economy Economic system Mixed economy
marketplace: international‚ global‚ multi-domestic‚ and transnational. Explain fully each strategy and discuss in detail the advantages and risks of each in India. International Strategy An international strategy refers to the sale of products in markets outside of the domestic company. Technology and globalization of business has created a new competitive landscape for the twenty-first century. In short‚ they interacted to create a continuous revolution. In particular‚ the development and use of
Premium Strategic management Culture International trade
HIV/AIDS reached pandemic proportions; most countries in the world were affected‚ but again it the poor nations of the Third World which suffered worst. The population growth of the nineteenth century helped to stimulate further economic development. There was a plentiful workforce and more people to buy goods‚ and this encouraged more investment and enterprise. Nor were there any great problems about feeding and educating these growing numbers because prosperity meant that the necessary
Premium World population Population growth Life expectancy
has been a heated discussion over whether China is closer to command or market economy. Before rendering my opinion‚ it is more important to take a glance at the arguments on both sides and I believe China is closer to being a modified economy country. People‚ who advocate that China is one of the command economy countries in the world‚ have their sound reasoning. First of all‚ the most important thing in command economy is that government makes decisions. Government decides what to produce
Premium Economic system Market economy World Trade Organization
CLOSED TO AN OPEN ECONOMY A moment comes‚ which comes but rarely in history‚ when we step out from the old to the new‚ when an age ends‚ and when the soul of a nation‚ long suppressed‚ finds utterance. 1.1 These are the words of Pandit Jawaharlal Nehru‚ the first Prime Minister of India‚ in his speech marking the Independence of India on 14 August 1947. These words still hold true today as India moves onto the global scene and is making its presence felt as an emerging economic power. History
Premium India Indian National Congress Macroeconomics
of financial markets in a modern market economy. Explain the role and function of the share market and its effect on the economy. The financial market is the most influential sector in a modern market economy. The financial markets provide products to consumers and financial intermediaries allow for the mobilization of money between savers and borrowers. The share market is the financial market in which investors buy and sells shares. The share market’s main function in the economy is to allow
Premium Stock market Economics Stock
NATUREOF THEGLOBAL ECONOMYANDGLOBALISATION TH E GLOBAL ECONOMY Trade inGoods and Services had grown rapidly increasing from 38%ofGWP in 1990 to 63% ofGWP in 2007. GWP is now9 times the level in 1950 howeverthe volume ofworld trade has grown 33 times it’s 1950 level During times of economic downturns‚the growth of globaltrade has contracted fasterthanworld economic output highlightingthe greater volatility oftrade compared toGWP. Important developmentthat has contributed to these flows
Premium Economics Globalization Economy
1. Measuring the Cost of Living 1) Questions for Review # 2 Questions: Describe the three problems that make the consumer price index an imperfect measure of the cost of living. Answer: The 1st problem is called substitution bias. Consumers substitute toward goods that have become relatively less expensive. However CPI is based on a fixed basket of goods and it ignores the possibility of consumer substitution. The 2nd problem is the introduction of new goods. This means that consumers have more
Premium Inflation Monetary policy
Outsourcing and the U.S. Economy Outsourcing jobs has been a topic of great debate for the past several years here in the United States. Those who are against outsourcing stated that it would have a negative effect on the U.S. economy because we would lose our competitive advantage to other countries and hundreds of Americans would lose their jobs‚ which include not only low-skilled workers but also semi-skilled and skilled workers‚ and in the end this does not leave enough jobs for the American
Premium Outsourcing Economics United States