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Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals. Human economic systems undergo a number of deviations and departures from the "normal" state, trend or development.
Standard economic theory suggests that in relatively open international financial markets, the savings of any country would flow to countries with the most productive investment opportunities; hence, saving rates and domestic investment rates would be uncorrelated, contrary to the empirical evidence suggested by Martin Feldstein and Charles ...
Economic transformation can be measured through production/value-added measures and trade-based measures. Production-based measures include: (1) sector value added and employment data, to show productivity gaps between sectors; and (2) firm-level productivity measures, to examine average productivity levels of firms within one sector.
Built-in inflation is a type of inflation that results from past events and persists in the present. Built-in inflation is one of three major determinants of the current inflation rate. In Robert J. Gordon's triangle model of inflation, the current inflation rate equals the sum of demand-pull inflation, cost-push inflation, and built-in inflation.
Economic factors One area that has a big influence on stock prices is data related to the overall economy. Whether the economy is growing faster than expected or slower can send stocks higher or ...
For example, a price ceiling may cause a shortage, but it will also enable a certain percentage of the population to purchase a product that they couldn't afford at market costs. [3] Economic shortages caused by higher transaction costs and opportunity costs (e.g., in the form of lost time) also mean that the distribution process is wasteful.
The COVID-19 recession was a major global economic crisis which has caused both a recession in some nations, and in others a depression. It is currently the worst global economic crisis in history, surpassing the impact of the Great Depression. The economic crisis began due to the economic consequences of the ongoing COVID-19 pandemic.
Adverse events: Unexpected major world events like natural disasters and geopolitical events like wars can cause widespread disruptions in critical sectors in supply chains and disrupt economic activity, reduce productivity, increase costs, affect confidence and thereby diminish economic activity, leading to decreased spending and investment ...