Economics Sample


Economics-Short Questions

Monopoly is a market situation in which there is a single seller selling the product or service and there are no close substitutes and there are restrictions to the entry of competitors in the market. Read More

Trade Restrictions: arguments for and against:

Trade is generally the exchange of goods and services either in local or international markets for increasing the world output. The exchange of goods and services may sometimes not be free, that is trade restrictions may be imposed by certain governments to check on free trade between the host country and those involved in the trade (Taylor & Weerapana, 2007). Therefore, trade restrictions is said to be the placement of barriers, which are government, imposed for the purpose of controlling free trade (importing and exporting of goods and services). Despite the benefits that may accrue in through international trades, countries may prefer to put some limitations on trade especially if the country is the principal seller and or buyer of certain goods and services. Read More

What is the economic impact of retail in America

The retail industry has become a very important contributor of the United States economy. The United Stateshas the reputation of being the world's largest economy. It contributes to almost one-fourth of the global GDP. A huge contributor to the US economy is spending by consumers, which accounts for nearly 71 % of the US economy. Read More

Economics in an International Context

Cartel is a term used to describe a non formal (non-written) secretive business agreement between two or more parties (countries, states, enterprises or individuals) to wave out trade competitions between them (Mankiw 2010). A cartel is basically aimed at removing business competition between/amongst the parties involved or under agreement. Despite the point that cartels are illegal, the parties under agreement may agree on issues of execution like pricing of products, levels of output, and areas to supply among other terms (Utton 2011). Read More


The leadership based paper focuses on commitment, teamwork, and communication, which have been identified by the Union Pacific Railroad as vital leadership attributes. In this paper, I try to describe how I can use the three leadership attributes to impact on the local community. Read More

Detroit Gearing for Socio-cultural and Economical Positioning

NameInstructor?s NameCourseDate The history of Detroit city curves a story to the present with a promise for the future. The interesting issue in Detroit is not in the population that it beats other United States cities but in the social and cultural aspects that have been part of the city steering the economy. The history of the city is rich in the black revolution that have been said to have affected the city negatively for a moment with many thinking that there would be a major setback that hold the city far from developing. Being the home of major corporations like... Read More