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What makes Chile different from other countries?
A stretch of land running north-south with the sea to the west and mountains along its eastern border, it looks like no other country on Earth. This uniqu...
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Was Holland ever a world power?
It was the first-ever multinational corporation, financed by shares that established the first modern stock exchange. The Company received a Dutch monopol...
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What causes shortages in the market?
A Market Shortage occurs when there is excess demand- that is quantity demanded is greater than quantity supplied. In this situation, consumers won’t be a...
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What are the effects of 1930s economic depression?
1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted 67%, international trade collapsed by 65%, and deflation soared above 1...
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What type of economic system is democracy?
Democratic capitalism, also referred to as market democracy, is a political and economic system that combines capitalism and strong social policies. Is de...
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What are some examples of imperfect competition?
Examples of imperfect competition include, but aren’t limited to, monopolies and oligopolies. Is Apple imperfect competition? They are competitive, but th...
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Who created Keynesian economics?
economist John Maynard Keynes Keynesian economics gets its name, theories, and principles from British economist John Maynard Keynes (1883–1946), who is r...
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What roles did African slaves play in the American economy?
Recruited as an inexpensive source of labor, enslaved Africans in the United States also became important economic and political capital in the American p...
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Why is it important for the government to play a role in a capitalist economy?
Capitalist Economy: In a capitalist economy, the role of government is very limited. The main functions of government, as given by Adam Smith, are to main...
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What are planned market and mixed economies?
In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts. In a mixed economy both mar...
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