1. Adam smith
You can use this money to help pay for funerals and other expenses that come along with dieing because like hospital bills funerals are very expensive and most people would not be able to pay for one out of pocket. ... In order to convince people to get life insurance the agencies will split it up in to two types of insurances that will cover you for a different amount of time, term and ordinary life. Term insurance is a lot cheaper but it is usually a month by month coverage whereas ordinary life is a lot more expensive but it covers the person for life so it all depends on the buyer to make ...
Demand In economics, we need to use terms a little more carefully than they are sometimes used in ordinary discussions. ... That distinction is important for microeconomics, although people often do not make it in ordinary discussion. ... Clearly, the buyers are the people who want or need the product or service -- but there is more to it than that. ... People sometimes use the term "demand" ambiguously -- as if "demand" were the same thing as need. ... That's a common-sense point: the higher the price, the less people will want to buy. ...
As society grow to include more people, human tastes and preferences continually grow, creating an inevitable conflict between the magnitudes of human wants and the availability of resources for satisfying them. ... People are allowed to organise themselves into business units where they organise factors of production. ... As a result, the system allows the allocation of a society's limited land, labour, and financial resources toward the kinds of production that most nearly satisfy the tastes and preferences of its people. ... And as resource allocation in the free market economy depends...
People buy Dell computers because of the reputed name brand and the reputation that Dell has gained over the years, along with the fact that the computers are marketed pretty well too. ... This segmentation is very necessary, as business based customers generally need mainframes and different types of equipment opposed to the ordinary user at home who would just need the bare minimum to do his/her computing. ...
Alfred Marshall is one of the most influential people in modern economics over all, but especially to his well-known students John Maynard Keynes and Joan Robinson. ... He said, "Political Economy or Economics is the study of mankind in the ordinary business of life; it examines the part of individual and social action which is most closely connected with the attainment and use of the material requisites of well-being....
On Thursday, October 24th, 1929, people began to sell their stocks as fast as they could. ... Margin buying is another reason why people believed that the crash happened. ... Many people blamed the crash for the economic collapse. ... During 1929, people invested in the stock market for five major reasons. ... Another reason was the higher wages of the ordinary workers. ...
Gregory McNamee reviewed Kevin Philips Wealth and Democracy and found that the book "examined cycles of economic growth and decline from the founding days of the republic to the recent collapse of technology stocks, Phillips dispels notions of trickle-down wealth creation, pricks holes in speculative bubbles, and decries the ever-increasing "financialization" of the economy--all of which, he argues, have served to reduce the well-being of ordinary Americans and government alike. ... Payroll taxes mean working people don't take home much more than 20 years ago. ...
Globalisation The word globalisation has become a buzzword since its inception at the beginning of the 1990s. A cottage industry on globalisation has emerged from which academics and intellectuals make a living by writing articles and travelling the world debating with others. The financial and business sections of broadsheet newspapers are continuously littered with issues concerning globalisation and meetings are frequently held by the superpowers to discuss the state of the global economy, such as the meetings in Doha in Qatar, Cancun in Mexico and the IMF summit in Dubai. As a result of...
He also believed that the wealth of a nation consists in the well being of the mass of ordinary citizens. "Smith tried to convince people that the wealth of a nation would be promoted with vastly greater effectiveness by the obvious and simple system of natural liberty than by national planning of the mercantilist sort" (Smith 391). ... Smith had a very negative view towards government and said, "There is no art which one government sooner learns of another than that of draining money from the pockets of people" (Kilcullen 3). ... In Wealth of Nations Smith tries to explain why people hav...
THE SOUTH AFRICAN ECONOMY Brief economic history During the 1960s the South African economy expanded at an annual average rate of 5,5 percent and experienced average inflation of 2,4 percent. This compared with annual growth of 5,0 percent in industrialised Organisation for Economic Corporation and Development (OECD) countries and inflation of 2,9 percent. Dollar per capita income grew 73 percent during the decade. The 1970s were turbulent years internationally and the domestic economy grew by only 3,2 per cent per annum (versus 3,4 percent in OECD countries). Relative economic performan...