Advantages and disadvantages of inflation

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Advantages and disadvantages of inflation This article offers a detailed analysis of the key advantages and disadvantages of inflation. Inflation is an economic phenomenon that can have both advantages and disadvantages. It is usually a negative word; however, it does not always have to be viewed in this light. It actually has some advantages, which is why it is very common in modern economies.   What is inflation? According to Groves (2022) the term ‘inflation’ is used to describe the increase in prices over time. The rate of inflation measures […]

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Causes of market failure

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Causes of market failure This article aims to explore some of the causes of market failure. It is usually assumed that the market will correct itself if something goes wrong. However, this does not always happen, and some markets do not work properly either. In such cases, there is a market failure. The failure of markets can lead to suboptimal outcomes, such as a lack of innovation and overconsumption of goods that are not worth the price.   Definition of market failure A market failure is the situation when a […]

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Advantages and disadvantages of a command economy

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Advantages and disadvantages of a command economy This article examines some of the key advantages and disadvantages of a command economy. A command economy is an economic system where the government directly controls and manages the production of goods and services. It is also known as a centralised economy or a planned economy.   What is a command economy? According to Augustyn (2022) in a command economy, the means of production are publicly owned, and economic activities are controlled by a central authority that assigns quantitative production goals. There is […]

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Advantages and disadvantages of a vegetarian diet

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Advantages and disadvantages of a vegetarian diet This article explores the advantages and disadvantages of a vegetarian diet. It also explores different types of vegetarians and provides examples of vegetarian diets. A vegetarian diet is a broad term. According to the Vegetarian Society, UK (2022) vegetarians do not eat fish, meat, or chicken. Some of theme also exclude other animal products from their diet too, including eggs and milk. People usually become vegetarian for moral, religious, or health reasons.   Types of vegetarians   There are different types of vegetarians […]

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Popular foods in the USA

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Popular foods in the USA This comprehensive article aims to explore some of the most popular foods in the USA. It goes without saying that the popularity of American food has risen dramatically in the last several years alone. In places like New York, Portland, and San Francisco, it is not uncommon to find people willing to wait hours in queue for a bowl of hyper-articulated gazpacho or a plate of fries with goat cheese and chili honey. After all, America is home to some of the most influential culinary […]

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Effects of government intervention in markets

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Effects of government intervention in markets This detailed article examines the effects of government intervention in markets. The government often intervenes in markets with the best of intentions; however, some of the interventions may end up with the unintended consequences. The intervention can take many forms. For example, subsidies may be given to certain producers to make products cheaper. The government may set minimum wages or give workers special rights such as not being able to be fired or not having their contracts terminated by their employer without appropriate communication […]

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Stakeholders of Air Canada (Stakeholder Analysis)

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Stakeholders of Air Canada (Stakeholder Analysis) This article explores the key stakeholders of Air Canada. In any business, there are several groups that can influence its success. These groups include employees, customers, suppliers, competitors, and even the government. Air Canada’s success and failure is largely dependent on the relationships it has with those stakeholders.   Internal Stakeholders of Air Canada   Employees of Air Canada Air Canada’s employees are its most important stakeholders. After all, when employees are happy, they will be more likely to stay with the company in […]

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Resource allocation and economic systems

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Resource allocation and economic systems This article examines the importance of resource allocation and economic systems in a modern society. Today, the economy of a society is based on the production of goods and services. These are produced by various actors with different roles in the process. There are those who invest their capital to create new companies or buy existing ones, and those who work in them providing their labour. However, the methods by which resources are allocated differ from one society to another.   In some societies, like […]

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Relationship between different organisational functions

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Relationship between different organisational functions This article aims to explore the relationship between different organisational functions. It also aims to examine how they link to organisational objectives and structures. The organisational functions refer to a set of activities that support the main tasks of an organisation and its overall goals. These functions help organisations in supporting their business processes and decision making. This article identifies the key organisational functions first, and then examine their relationship with each other.   HR (Human Resource) HR is the function that is concerned with […]

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Size and scope of different types of organisations

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Size and scope of different types of organisations This article explores the size and scope of different types of organisations. It goes without saying that there are many types of organisations with different scope and size in any industry. The size and scope of an organisation depend on various factors such as its purpose, management structure, operational methods, funding sources, services offered etc. These parameters can define how small or big the organisation is.   Small business organisations A small business organisation generally operates on a small scale with a […]

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