Global economic equality is slowly gaining leverage as an essential in international trade. Ideally, global trade is often promoted in various parts of the globe owing to the benefits that economies experience from investing in offshore markets. However, global trade is always approached from one dimension. For example, most of...

The discovery of gold in California created a mining frenzy that attracted many people to the territory. According to Lawrence & Cummins (2014, p. 26), the gold rush attracted so many people to California that the population doubled every six months for a time. For instance, it rose from around...

Economic growth is one of those things that may seem, to the layman, rather confusing. By this I mean that it doesn’t seem that economic growth is particularly important, or at least it doesn’t seem that it should be very important, and yet the papers constantly fuss over a half...

Unemployment is at its lowest rate since the Eurozone crisis. There are combinations of factors which make the aggregate data appear as if the economy is improving, however this is not necessarily the case. While the numbers appear positive, a closer look at what composes those numbers shows that employers...

Transaction Cost Theory of the Firm The transaction cost theory of the firm is the understanding that firms must establish a price for goods and services below that of the market price. Establishing costs below the market price requires and understanding of transaction costs and how these costs work in...