Why did the US go off the gold standard?
In 1971, to stave off a run on US gold reserves, Nixon halted convertibility (meaning that other countries could no longer redeem dollars for gold). Under...
Was the EU formed to prevent war?
1945 – 1959 The European Union is set up with the aim of ending the frequent and bloody wars between neighbours, which culminated in the Second World War....
What do you call the computer that allocates and manage resources for a network?
Operating system (OS), program that manages a computer’s resources, especially the allocation of those resources among other programs. Typical resources i...
What is good consumer surplus?
Consumer surplus is one way to determine the total benefit that consumers receive from their goods and services. If a consumer is willing to pay more for ...
What is the meaning of equity in a company?
The equity of a company, or shareholders’ equity, is the net difference between a company’s total assets and its total liabilities. Shareholders’ equity r...
Why is self-interest important in economics?
To recap, self-interest and competition are very important economic forces. Self-interest is the motivator of economic activity. Competition is the regula...
What is economic optimism?
The IBD/TIPP Economic Optimism Index is the earliest take on consumer confidence each month and predicts with good reliability monthly changes in sentimen...
What are social and economic needs?
Social and economic factors, such as income, education, employment, community safety, and social supports can significantly affect how well and how long w...
Will the Muppets come back?
The Muppets are coming back. The popular puppet characters from the television show of the 1970s will get another shot at reaching a new audience this sum...
What is joint demand and derived demand?
Derived demand is the demand for a product that comes from the usage of others. Derived demand is similar to joint demand because of its connection to oth...
