Economy

Are the United States Market or Mixed Economy?

The United States has a hybrid economy. It is based on an economic system that combines elements of capitalism and socialist. Mixed economic systems protect some private property, allow for some economic freedom in capital use, and allow for government intervention in economic activities to achieve social goals and the public good. How the U.S. government impacts the economy …

Are the United States Market or Mixed Economy? Read More »

Disguised unemployment

What is Disguised Unemployment? Disguised unemployment is when a portion of the workforce is not working or is being employed in redundant ways so that worker productivity becomes essentially zero. Unemployment is not a factor in aggregate output. If productivity is low or too many workers fill too few jobs, an economy has hidden unemployment.   KEY TAKEAWAYS Disguised …

Disguised unemployment Read More »

Trade

What is Trade? Trade is the voluntary exchange between economic actors of different goods and services. A transaction can only be made if both the parties feel it is in their best interests.   In different contexts, trade can take on additional meanings. Trade is the sale and purchase of securities, commodities or derivatives. International trade is free from tariffs and other trade obstacles.   KEY …

Trade Read More »

Are Industrialization and the Economy Good?

Industrialization refers to the transformation of an economy from primarily agricultural production to mass-produced, technologically advanced goods or services. This stage is marked by rapid leaps in productivity and shifts from rural labor to urban, as well as higher standards of living. Industrialization is the most significant economic development in human history, according to common measures, like income per …

Are Industrialization and the Economy Good? Read More »

West Coast Economy vs. East Coast Economy – Which Is Greater?

Comparison of the West Coast and East Coast Economy: A Summary It would be the fifth-largest nation in the world if California were a country. In 2018, California’s gross national product grew by $178 billion over the previous year. 3   It depends on which comparison you choose to compare East and West. It depends on which comparisons you …

West Coast Economy vs. East Coast Economy – Which Is Greater? Read More »

How to Combat Inflation and Protect Your Four Walls

The word “inflation” is everywhere. It’s the headline in every news article and the crux of every meme and the term we scream under our breath. Yes, “inflation,” is proving as the most talked-about word of this year, but it’s much more than it’s. This buzzword is actually depriving Americans from their precious cash more and more quickly each month. …

How to Combat Inflation and Protect Your Four Walls Read More »