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Industrialization a process that allows an economy to move from agrarian production towards mass-produced and more technologically advanced goods. This phase is marked with exponential leaps of productivity, shifts between rural and urban labor, and higher standards. Industrialization can be described as the most significant economic advancement in human history by using standard measures such as per capita, or […]

Robots are increasing in use in every industry. Below are some of the ways robots can affect the economy.   KEY TAKEAWAYS Robots are taking over your job! They have been overtaking manufacturing work for decades. Although there might be some negative effects on some labor groups, robots or automation can increase productivity, lower production prices,

An Overview of West Coast Economy vs. East Coast Economy   California, if it was a nation would be fifth in world economic size. Its GDP was close to $3 trillion in 2018, an increase of $178billion over the previous year. 3   It depends on what comparisons you use to compare East-West. It all depends on what comparisons

Deflation is the reduction in the overall prices in an industry and the purchase powerof the currency. It can be caused by an increase in productivity, an increase in the number of goods and services or a decrease in aggregate demand.   KEY TAKEAWAYS Deflation refers when the country’s general prices are falling, and not when they rise.

The Consumer Price Index hit the 40-year mark early this year. The level of anxiety among consumers is at an all-time high and it could affect your business in many different ways than you realize. Workers are consumers, and the workforce that is anxious is less productive. Nowadays, lunchtime discussions and coffee breaks often transform into stressful discussions

Quick Answer Inflation can cost consumers 8.5 percent more for the identical goods or services as in March 2022 as compared to March 2021. You can combat the effects that inflation has on your family’s budget by cutting down on costs for transportation and groceries as well as by analyzing your budget, and avoiding credit card

inflation. It’s the headline in every news article as well as the gist of every meme and the term we scream under our breath. Yes, “inflation” is proving to be the buzzword for the century, but it’s much more than the word. The buzzword actually strips Americans from their precious cash every month, and it’s getting faster. It’s no coincidence

Warren Buffett has been thinking about inflation for quite a while. The famous investor who is 91 was warned about the dangers of inflation instilled into the mind of his Republican Senator father as per biographers. He has also expressed his opinion on the topic throughout his investment career. “We’re seeing very substantial inflation,” Buffett declared

Inflation occurs when the amount spent on products and services exceeds the production. Prices may rise due to limitations on supply, which increase the price of making products and services, or simply because consumers benefit from an economic boom, use more cash than producers are able to increase their production. Inflation usually occurs as a result of the