What problems did Rome face?
The Roman Republic was in trouble. It had three major problems. First the Republic needed money to run, second there was a lot of graft and corruption amo...
When and why did Keynesian economic school lose its influence?
It lost some influence following the oil shock and resulting stagflation of the 1970s. Keynesian economics was later redeveloped as New Keynesian economic...
What happens when government imposes a price floor?
When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. When g...
What is a customer orientation?
Customer orientation is a business philosophy that puts the needs of the customer over the needs of the business. It’s a way of thinking that aligns your ...
What is meant by an economic migrant?
An economic migrant is someone who emigrates from one region to another, including crossing international borders, seeking an improved standard of living,...
Can imagination be developed?
Learning new things stimulates your mind, and motivates you to try new things. Each novel experience opens possibilities. If you are still having a hard t...
What does a economic map show?
An economic map is a map that illustrates various economic activities or phenomena that take place in a particular area. These maps show a large area, com...
How can we reduce gas prices?
How to lower gas prices 1) Lift offshore and onshore exploration and drilling bans. 2) Approve Keystone XL. 3) Require timely environmental review. 4) Spe...
How did Germany fix their economy?
When Adolf Hitler became Chancellor of Germany in 1933, he introduced policies aimed at improving the economy. The changes included privatization of state...
What are the effects of disasters on the economy of a community?
In addition to the loss of lives and major destruction of economic and social infrastructure, natural disasters set back poverty reduction programs and ca...
