British economist Alfred Marshall(1842-1924), known as the father of Modern Orthodox Microeconomic theory (Neoclassicism). 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. ... When modern economists, are trying to understand why the price or quantities bought and produced of a good changes, start by looking for factors that may have shifted demand and/or supply are in direct effect of Marshall's method and way of analyses. ... The market period is a very short period in whic...

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• Approx Pages: 4
• Grade Level: Undergraduate

However, in recent years, there has been a movement toward the modern frameworks of analysis: cultural approaches, rational choice theory, ideological rationality, and the theory of perspective. ... Modernization argues that there is a linear process that replaces traditional values and systems with modern Western ones and that all societies are ultimately headed toward democracy and free-market economies. ... It also overlooks the extent to which the traditional and modern coexist in many poorer countries - according to modernization there is a complete transformation from the traditional t...

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• Grade Level: Undergraduate

He continues to state that the current infrastructure in the United States is crumbling and it is the perfect time for America to borrow money to rebuild this infrastructure and indirectly pay the American people. ... The current interest rates for borrowing money are very low and it is the perfect time for the government to invest in the future of America. ... Modern politicians need immense amounts of money to campaign and maintain office. ...

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Bargaining Power of Customers The bargaining power of customers is medium to high because of a reduced demand by the auto industry as of the result of the lower steel content in a modern automobile; a trend steel producers are aggressively trying to counter by banding together to form the Steel Alliance which is running a $100 million advertising campaign targeted at consumers touting the advantages of steel for automobile design (and house construction). ... Its competition has yet to perfect this coordination, thus give Nucor a competitive edge. ...

• Word Count: 1144
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• Grade Level: Undergraduate

Personal Statement Why comparative politics? Fortunate areas have much similarity; Unfortunate areas all have their own stories. My interest with the great disparity between different local areas within China derives from a field work in a small village in ShanXi province. Compared to the moder...

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Among these false perceptions include the view that the people of Lesotho have not had modern conveniences of schools, hospitals and roads even after independence and they have migrated to their "rich" neighbor, South Africa, as a response to declining agricultural production. However, Ferguson provides evidence that most of the people of Lesotho largely derive their income from wage labor, had established modern hospital, schools and markets even during colonial times, and migrated to South Africa long before a decline in agricultural production to buy other goods as well as to pay...

• Word Count: 3546
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• Grade Level: Graduate

Free trade only works in a world of perfect conditions, meaning that all countries follow suit and remove barriers to trade but in fact western nations have gradually increased their barriers preventing the access of goods into their markets. ...

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• Grade Level: Undergraduate

Adam Smith was born in Kirkcaldy, Fife, Scotland in 1723. His father died before he was born and was raised by his mother. He attended Glasgow University for three years and later on went to Balliol College, Oxford for the next six years of his life. Afterwards, he decided to return to Kirkcadly in 1746. In 1751, Smith was appointed professor of logic at Glasgow University, transferring in 1752 to the chair of moral philosophy, lecturing on several topics including natural theology, ethics, and political economy. ...

• Word Count: 3103
• Approx Pages: 12
• Grade Level: Undergraduate