Economics Study Materials

The Service Sector and Contribution to Gross Domestic Product (GDP)

SUMMARY Meaning of Service Sector The service sector refers to the portion of the economy that provides intangible goods or services rather than tangible products. It encompasses a wide range of industries and activities that focus on meeting the needs and preferences of individuals and businesses. The service sector deals with activities that are often knowledge-based, information-driven, and oriented toward customer satisfaction. Examples of service sector activities include financial S...

Competition in Oligopoly is Collusive. Discuss

The Assignment/paper is a discussion on how competition in Oligopoly could be seen as COLLUSIVE.

Conflict and Economic Development: Shedding Sufficient Light on the Current High Cost of Living among Ordinary Consumers

The present article exclusively focused on the relationship holding between conflict and consumer’s cost of living, as exemplified by recent global occurrences. As shall emerge hereafter, conflict often triggers high cost of living as was evident after Russians invasion of Ukraine early this year. The result was high price increases for consumers globally, as the supply chain matrix for essential commodities was interrupted.