Gorbachev’s reforms
16 Jan 2008 During the 1970s growth had slowed down and by the time Gorbachev came to power in 1985 many people were pressing for fu..- 95
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business-sense
Economics and science
16 Jan 2008 The methodology employed by economists has a lot in common with that employed by natural scientists. Both attempts to co..- 104
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Early days of Radio
16 Jan 2008 Radio astronomy has greatly increased our understanding of the universe. Radio telescope have one bi advantage over conv..- 96
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A look at the Free Market Economy
15 Jan 2008 The fact that a free market economy functions automatically is one of its major advantages. There is no need for costly..- 111
business-sense
Macroeconomics
15 Jan 2008 Because things are scarce, societies are concerned that their resources should be used as fully as possible, and that ..- 106
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Concept of Scarcity and Abundance
14 Jan 2008 The central economic problem is scarcity. But are all goods and services scarce? In anything we desire truly abundant? ..- 113
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Adam Smith
14 Jan 2008 Many economists would argue that modern economics dates from 1778. That was the year in which Adam Smith’s an inquiry in..- 107
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Economic Reasoning
14 Jan 2008 Economics is one of the social sciences. So in what sense is it a science? Is it like the natural sciences such as physi..- 109
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Application of demand and supply to Markets
14 Jan 2008 Leave things up to the market. The market will sort if out. It’s what the market wants. You can’t buck the market. Th..- 101
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How Planning was done in the Soviet Union
14 Jan 2008 The Bolsheviks under the leadership of Lenin came to power in Russia with the October revolution of 1917. The Bolsheviks..- 105
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Determinants of House Prices
07 Jan 2008 House prices are determined by demand and supply. If demand rises or if supply falls, the equilibrium prices (the price ..- 111
business-sense
Economic Indicators
07 Jan 2008 Well endowed with natural resources, Ghana has twice the per capita output of the poorer countries in West Africa. Even ..- 109
