The recent ban on cryptocurrency in China has roped the former lucrative, coin markets into disastrous bear trends whose ramifications are approaching almost $1 trillion being wiped of the market capitalization of the cryptocurrency market as a whole. …

Currencies power and worth is determined by their exchange rates with other countries. By the end of this article, I hope that you will understand the determinants of a currencies exchange rates and why economies may opt to for overpriced/underpriced currency as a mechanism to promote economic growth. Types of Exchange Rate: Fixed: Currencies…

Before I start, I want to solely credit ‘Doughnut Economics- Sevens ways to think like a 21st century economist’ by Kate Raworth for the information I use and for the great insight into how economical thinking has advanced in the 21st century. When creating models, economics tend to call the…

It is common knowledge to know that many of the largest global companies exploit loopholes in the tax system in order to avoid their taxes. These techniques are all legal and there is nothing illegal to what they do yet ethically, it is unfair and is a large leader in…

Enron was an American energy and commodity based in Texas. For its in lifetime in the later 20th century and early 21st century, it witnessed massive growth year on year and had reached an all time high of $90.75 however this changed in the crisis around Enron leading to the…

To understand what is irrationality it is better to understand what rationality is: rationality is the idea that our choices are made based on what brings us the most utility and benefit. Although, we may think we instinctively do this, we all have probably got thoughts in our head from…

Surplus is defined as the extra benefit to society that a given good’s price gives to society. …

The price mechanism is how we exchange goods and services in the modern world. Originally, we used the barter system which was a system of trade, however this relied on the people owning something of value for each other which couldn’t be guaranteed so money provided as that medium of…

In Economics and in basic business, we need to understand how supply works so a firm can operate at optimal levels of production. The supply curve is typically displayed as shown as it is usually used in accordance with the demand curve. What is suggests is that as the price…