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Macroeconomics

Economic Growth and Economic Development: Their Differences and Relationships

Updated on January 23, 2023 · By Ahmad Nasrudin Tag: Development Economics, Economic Development, Economic Growth, Gini Coefficient, Human Development Index

Economic Growth and Economic Development Their Differences and Relationships

Economic growth has a close relationship with economic development. We need economic growth to support economic development because it contributes to increased output and income in the economy, which in turn contributes to prosperity.

Tag: Development Economics, Economic Development, Economic Growth, Gini Coefficient, Human Development Index

Macroeconomics

Where Do Comparative Advantages Come From?

Updated on January 23, 2023 · By Ahmad Nasrudin Tag: Comparative Advantage, International Economy, International Trade, Trade Theory

The comparative advantage stems from the ability to produce goods and services at low opportunity costs, which is influenced by how available economic resources (also called factors of production) are and how good their quality is. For

Tag: Comparative Advantage, International Economy, International Trade, Trade Theory

Macroeconomics

Three Injections In The Economy

Updated on January 22, 2023 · By Ahmad Nasrudin Tag: Aggregate Demand, Aggregate Output, Circular Flow of Income, Injection, Leakage

Investment, government spending, and exports are three injections in the economy. They contribute to increasing the demand for goods and services in the economy and, therefore, stimulate more job and income creation. What is injection? An

Tag: Aggregate Demand, Aggregate Output, Circular Flow of Income, Injection, Leakage

Macroeconomics

How Do Imports Impact the Economy?

Updated on October 24, 2022 · By Ahmad Nasrudin Tag: Economic Growth, Exchange Rate, Import, Inflation, International Trade

Imports impact the economy in several aspects. For example, at the micro level, imports affect competition by increasing supply in the domestic market. Consequently, there is more pressure on prices and profitability in the domestic market. On the

Tag: Economic Growth, Exchange Rate, Import, Inflation, International Trade

Macroeconomics

What Are the Factors Affecting Imports?

Updated on October 24, 2022 · By Ahmad Nasrudin Tag: Exchange Rate, Import, International Trade, Trade Policy

Availability is a factor affecting imports. We import goods from abroad because they are unavailable in the domestic market. For example, the domestic economy does not produce them because the geographical location does not support them. Another

Tag: Exchange Rate, Import, International Trade, Trade Policy

Macroeconomics

Reasons Why International Trade Exists

Updated on October 24, 2022 · By Ahmad Nasrudin Tag: Comparative Advantage, Export, Import, International Trade

International trade exists for several reasons. First, differences in demand underlie trade. Certain products we want are not produced in the country. Instead, they are only available in other countries. So, we have to import to get

Tag: Comparative Advantage, Export, Import, International Trade

Macroeconomics

What are the Benefits of International Trade?

Updated on October 24, 2022 · By Ahmad Nasrudin Tag: Export, Import, International Trade

Increased access to cheaper and more varied goods and services is key benefits of international trade. Thus, it allows us to increase well-being. We can satisfy our needs and wants by buying more varied and cheaper products not produced

Tag: Export, Import, International Trade

Macroeconomics

Autarky: Examples, Pros, and Cons

Updated on September 20, 2022 · By Ahmad Nasrudin Tag: Economic System, International Economics

What's it: Autarky is a system or philosophy in which an economy seeks to be self-sufficient. If a country adopts this system, it will try to meet its needs from within. And suppose the country is not involved

Tag: Economic System, International Economics

Macroeconomics

Adverse Economic Shocks: Examples, Impacts, Solutions

Updated on September 15, 2022 · By Ahmad Nasrudin Tag: Aggregate Demand, Aggregate Supply, Economic Shock, Macroeconomic Equilibrium

What's it: An adverse economic shock is a sudden, unexpected, and dramatic change in aggregate supply and demand, hurting the economy. For example, shocks result in high and uncontrollable inflation. Or it causes a recession. In other cases, it

Tag: Aggregate Demand, Aggregate Supply, Economic Shock, Macroeconomic Equilibrium

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