An understanding of economics isn't seen to be as vital as, say, balancing a household budget or learning to drive a car. However, economics has an impact on every moment of our lives because, at its heart, it is a study of choices and why and how we make them.
The thought of being hit with a major negative event that could affect your finances, like a job loss, illness or car accident, can keep anyone awake at night. But the prospect of something expensive, and beyond your control, happening becomes less threatening if you're properly prepared.
No, that title is not a misprint.
In terms of wealth creation we can define assets as either Good assets or Bad assets.
Nearly 20 million people in the Asia-Pacific region were kept in poverty last year by rising food prices, according to a U.N. study. The United Nations says governments in the region need to better control inflation or else millions more people could be impoverished.
HONG KONG – Asia's economic growth will ease to just under 8 percent for the next two years as the region continues a solid recovery, the Asian Development Bank said Wednesday, while warning that rising food prices threaten to send more people into poverty.
In today's increasingly interconnected economy, the economic fallout from a natural disaster is rarely relegated to the geographic area that it hits.
During World War II, you could buy a loaf of bread for $0.15, a new car for less than $1,000 and an average house for around $5,000. In the twenty-first century, bread, cars, houses and just about everything else cost more.
The billionaires' club is growing. Forbes magazine's annual list shows there are now 1,210 billionaires around the world - that is 199 more than last year. Although the world's top three earners are unchanged from last year, the newcomers in the list of the world's richest, did not come from the U.S. or Western Europe, but from Russia and the Asia Pacific region.
Timely, relevant information is crucial for functional, efficient markets. However, in certain industries and for some credence goods, consumers may not be able to thoroughly evaluate the goods or services they are thinking about purchasing. This leads to the possibility of the lemons problem.