markets have to ECG machines for economies. By this diagnostic measure the invalids in Europe’s medical ward are making a remarkable recovery. On January 10th the interest rate on Spanish ten-year government bonds fell below 5% for the first time in almost a year. Even though rates then ticked up a tad‚ the cost of new government borrowing is now about 2.5 percentage points lower than it was when worries over a break-up of the euro area peaked in July 2012 (see left-hand chart). The Italian patient
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the economy‚ like increasing inflation‚ government budget deficit and increasing unemployment. During the period of analysis (2000-2010) Turkey has experienced an average Real GDP growth of 4.1% on a year-on-year basis measured quarterly. In 2009 Turkey experienced an even worse GDP growth rate than during the crisis in 2002‚ reaching a record low of -14.57%. Real GDP growth started to rise in the 4th quarter of 2009 and kept rising into 2010. Turkey responded to the decline in the economy with
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Economies of scale The long run – increases in scale A firm’s efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale‚ but firms can become too large and suffer from diseconomies of scale. As a firm expands its scale of operations‚ it is said to move into its long run. The benefits arising from expansion depend upon the effect of expansion on productive efficiency‚ which can be assessed by looking at changes in average
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Today’s Economy Today economy has not been stable for example for the last few years we have all been in a position where we have to watch how we spend more than we used to. A lot of changes have happened since the economy went down more people went bankrupt‚ broke‚ and some even were forced into becoming homeless. It is sad to see that so many people have been affect by the economy’s status. Lucky for me and my family we have been able to make it work so far and even though we watch
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advantages is that you are guaranteed certain standard of life‚ as long as you are willing to work or meet your production quota. You get free education and healthcare‚ as well as disability and retirement benefits. Disadvantage is that your standard of life does not grow as fast as in market economies‚ and you cannot increase it all that much by working harder or innovating new technology. The only path to better lifestyle is joining the ruling elite‚ or stealing from the system and otherwise
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SECTORS OF ECONOMY The three-sector theory is an economictheory which divides economies into three sectors of activity: extraction of raw materials (primary)‚ manufacturing (secondary)‚ and services (tertiary). It was developed by Colin Clark and Jean Fourastié. According to the theory‚ the main focus of aneconomy’s activity shifts from the primary‚ through the secondary and finally to the tertiary sector. Fourastié saw the process as essentially positive‚ and in The Great Hope of the Twentieth
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Mixed Economies Would you rather live in an economy where the government makes primary decisions or one where consumers and producers make all the decisions? Why not have a mixed economy with a little bit of each? A mixed economy that contains safety nets‚ laissez faire and government intervention (when needed) will lead to a better society. First of all‚ economic security plays a huge role in a mixed economy‚ by
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PHILIPPINES TO LEAPFROG TO BE THE 16TH LARGEST ECONOMY BY 2050 ACCORDING TO IMF The Republic of the Philippines is one among those list of developing economy and owns the possibility of being one of the fruitful nation in the next succeeding decades. Our country is highly expected to jump 27 places to become the 16th largest economy by the year of 2050 as projected by The Hong Kong and Shanghai Banking Corporation International Bank. Resounding softly across the 7‚100 islands that form the Philippines
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United Arab Emirates (UAE) economy The United Arab Emirates economy is one of a kind that is referred as an open economy. The economy has very high per capita income with substantial annual trade surplus. The economy’s GDP that relates to oil and gas output has so far reduced in percentage up to 25%. This reduction has been experienced due to the successful efforts made in diversifying the economy (Katzman‚ 2010). UAE for a long time in the past was known to be a poor economy characterized by fishing
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Trading over the world has dated back to at least 9‚000 years ago. Although it may have gone much further back with the trading of animals and the invention of ships‚ now-a-days international trading is one of the major parts of the global economy. It is the main reason for the development of this much industrialized world. Trading happens when countries do not have the resources to satisfy both theirs and the consumers’ needs and wants. Countries produce a surplus by exploiting their scarce domestic
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