Everyone talks about the Great Depression of the 1930s, but very few know its facts. Many only know that it was a difficult time when the stock market crashed in the United States and that many people took their own lives as they could not cope with the sudden loss of job and home. What is the Great Depression? What makes it so significant? Continue reading
Everyone hears about the GDP. The Gross Domestic Product is a method of measuring the economy and is taken as a measurement of the total income and output, of a nation, for a period, usually a year. Usually, the wealth and prosperity of a country is measured through the GDP. However, although many countries use the GDP to measure economic success, there are a several advantages and disadvantages to this method. Continue reading
Singapore is a country that was clearly a third-world country. But, when one walks down Orchard Road, one tends to wonder whether this is true. Singapore is a busy, vibrant place with all sorts of opportunities and sights to see. It is a beautiful country that offers something for everyone. The real question, however, remains, what is the reason for Singapore’s economic boom? What made them shift from just a small country on the map to one of the most booming economies in Asia? This essay provides a more humane look at the reasons behind Singapore’s economic success.
We all hear about the ups and downs of the Dow Jones. But, do we really know what it means and what it means to a countries economy? The Dow Jones Industrial Average affects almost every aspect of a country’s economy. It affects the stock market and investment portfolios. So, bottom line – the Dow Jones is an economic indicator and a downward trend means a bad time for the economy, while an upward trend indicates a bad time. Continue reading
An economic crisis, anywhere in the world, can have devastating repercussions on all other countries around the world. For example, the economic crisis of 1929 and the most recent economic crisis of 2008 were felt all over the world. Economics is the scale in which a country studies the allocation, distribution and consumption of resources. This is given especially close attention as the economic downturn or growth in a country is vital to the country’s well-being. An economic crisis is the worst financial problem a country can face. It can begin slowly or quickly depending on the economic strength of the country. Whatever the case may be, there are a few factors that lead to an economic crisis. Every country should pay attention to these factors in order to prevent another economic crisis of high proportions. Continue reading