Finance General Faqs

What is the economy in Bulgaria like?
Bulgaria was somewhat hesitant in terms of embracing market reforms. The economy suffered greatly after the fall of communism with standard of living dropping drastically. In the mid 1990s, the economy improved and reforms were implemented. Econom...... More »
Who decides what goods services will be produced and sold in the US?
It is mostly the American consumer. The US government also plays a large role in the nation's economy, constituting roughly 36% of GDP - making it the largest and thus most influential economic institution and consumer. Manufacturers or those ...... More »
Why is economics seen as a social science?
Beginning with a definition: The social sciences are a group of academic disciplines that study human aspects of the world. They diverge from the arts and humanities in that the social sciences tend to emphasize the use of the scientific...... More »
What is the Malthusian theory on population?
If population growth continues then there will not be enough resources around for everyone this will lead to an event such as famine or war, which will reduce the population. ...... More »
What does macroeconomics mean?
The study of the overall aspects and workings of a national economy is such as income, output, and the interrelationship among diverse economic sectors. It is the study of all aspects of the economy. It is different from microeconomics, which stud...... More »
Is there competition between the producers in Canada?
Yes, Canada is a mixed economy. Thus, there is going to be some degree of competition among "producers." ...... More »
How do tax cuts affect the economy?
Tax cuts improve the economy by giving the people more spending power and higher consumer confidence, which leads to them spending more of all of their income which leads to more jobs, more business investment in more efficient technologies, and u...... More »
What is the difference in changing the scope between a spiral approach and a waterfall approach?
The scope of requirements changes in Waterfall model is less than that in Spiral Model. In Waterfall model, you progress to the next stage only when the requirements of the stage above it are finalized and signed off. So literally, we do not have ...... More »
What is globalization and what are its effects on the Indian economy?
It is largely positive. Globalization has brought many jobs and large sums of investment to India. India's economy has been growing at exceptional rates for the past several years and many new opportunities have opened up for India. Yet, India...... More »
What are the types of market economies?
From my understanding, there are 4 main types of market economies. They are also known as Economic Systems. The 4 are Free Market, Mixed Market, Command and Traditional Economy. Please try to understand that there are various terms for them, and i...... More »