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anonymous

Economies of scale made steel - 0 views

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    Economies of scale is the increase in efficiency as a company gets bigger. In this case the economy of scale is the creation of larger shipping containers. The great thing about scales of economy is that it has lowered the production cost of products such as the creation of t- shirts for some companies. However as companies have more products to they needed bigger containers to transport their goods. As the supple of t- shirts increases the size of the ship that transports the goods needs to increase in size as well. Maersk lines , the world's biggest shipping container company has decided to increase the size of his ships. The company plans to build 20 ships with a capacity of carrying 18,000 twenty-foot equal units. The company does this out of efficeny in transportation and gas cost. The larger the ship the more it can carry and the less times the ship will have to travel back and forth to transport goods. The increase in ship size than is an example of the economies of scale when bigger = more efficient.
Adil R

Higher income, lower wealth: how the GFC made Australia more equal - 0 views

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    This topic is related to this week's study of equity in the distribution of income. The country this article revolves around is Australia but explains and shows us, graphically how the income has changed and how distribution has changed through the years.
Christopher P

Basic Education Is a 'Public Need' and 'Public Good' and Should Be Free - 0 views

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    This article discusses the upcoming general election in Ghana and one specific policy at stake: the government funding of education. Much debate has occurred over this idea, and one policy, Senior High School (SHS), aims to immediately begin funding of Senior High School education, while another will hold off government funding until the year 2032. The writer of this article expresses his belief that public education is a public good and therefore the government has the responsibility to provide it free of charge. The sooner public education is provided to children, the sooner the society will develop and become more equal as a result.
Christopher P

Paul Ryan Isn't an Inflation Nutter - 1 views

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    This article mainly discusses the economic policies of Representative Paul Ryan involving his concerns that continuing budget deficits will eventually lead to high rates of inflation. The author evaluates a theory regarding the importance of government policy on the price level of the economy. The view states that there is only one point of equilibrium in the macroeconomy where Aggregate Supply will equal Aggregate Demand, and the changing policies of the government play a crucial role in meeting that equilibrium by affecting not only the value of business assets but also people's expectations.
Christopher P

S&P Sued by U.S. for &5 Billion For Role in Crisis - 0 views

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    The justice department of the Untied States has filed charges against Standard & Poor's, the largest credit ranking agency, for its involvement in the 2008 financial crisis. The article mentions how our current market, where three large credit agencies have had a sort of monopoly over the market, contrasts with the ideal form of perfect competition (where firms move freely but within certain rules). The author suggests however that the Federal Reserve may have had an equally significant role in the economic collapse, and by not acknowledging its own faults may give off a very poor image to the public.
Christopher P

Wallet woes: Students see 3.7 percent increase in prices - 0 views

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    The annual "Student Price Index" released yesterday by the Kansas State Economics Club shows that the prices for common goods purchased by students has increased by about 3.7% in the past year. However, not all goods have been affected equally. For example, prices for textbooks have actually decreased while the prices for internet services have risen 8%. These differences are due to primarily to elasticity. Daniel Kuester, the director of undergraduate economics at the university, explains that for products like pizza, the availability of many substitutes makes the good elastic, making it less likely to be affected by inflation.
Christopher P

Household Incomes Remain Flat Despite Improving Economy - 0 views

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    A new report from the Census Bureau shows that despite signs that the economy is improving in the United States, including dropping unemployment and increasing economic growth, the distribution of income in the country remains the same. Gains have been made for the top 5% of earners yet many others remain reliant on government aid. This brings up an important issue regarding what economic growth actually means for the people of a country. Although the economy may be expanding, the standard of living for struggling families may not be improving.
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