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ECO 360 Week Two Chapter Summary

Essay specific features

 

Issue:

Business

 

Written by:

Pansy H

 

Date added:

September 12, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 971

 

Was viewed:

3996 times

 

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Essay content:

Monopolies of Land and Land Speculation creates artificial scarcity of land which results in skyrocketing land values and are the last values to come down during depression. It makes it difficult for labor and small capitalist to go into productive and profitable activities. All over monopolies such as franchises, rights and other exclusive privileges have the same effect...
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It creates higher values which people must all pay without getting more wealth in return. The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables (Author Unknown, 2008). A business cycle is identified as a sequence of four phases: Contraction (A slowdown in the pace of economic activity), Trough (The lower turning point of a business cycle, where a contraction turns into an expansion), Expansion (A speedup in the pace of economic activity) and Peak (The upper turning of a business cycle) (Author Unknown, 2008)...
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