The Lorenz Curve and Gini Coefficient

The distribution of Income in an economy is represented by a Lorenz Curve and the degree of income inequality is measured through the Gini Coefficient. One of the five major and common macroeconomic goals of a government is the equitable (fair) distribution of income.   The Lorenz Curve The Lorenz Curve (the actual distribution of…
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Free Market: Advantages & Disadvantages

A free market economy is a type of economy promotes the production and sale of goods and services, with little to no control or involvement from any central government agency. In a free market economy, firms and households act in self-interest to determine how resources get allocated, what goods get produced and who buys the goods. A free market…
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Monopoly Market Structure

In a Monopoly Market Structure there is only one firm prevailing in a particular industry. However, from a regulatory view, monopoly power exists when a single firm controls 25% or more of a particular market. For example, De Beers is known to have a monopoly in the diamond industry. A Natural Monopoly Market Structure is the result of natural…
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Top 100 Economics Blogs of 2017

After a successful reception last year of the inaugural Top Economics Blogs, I am updating the list for 2017. The Top 100 Economics Blogs of 2017 has some changes like the addition of new blogs and less emphasis on mainstream blogs. As with 2016, I've tried to include blogs of all topics, political affiliations, and beliefs. I have tried to…
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Microsoft’s Bundling Policy

Microsoft has an interesting bundling policy. Microsoft sells the Office suite of software very differently across the world. The Office Suite consists of Word, Excel, PowerPoint, and Outlook. The suite is one of the most widely used work-related or productivity software in the world. As with most popular software, the Microsoft Office programs…
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Introduction to the Sharing Economy

The concept of a sharing economy is engraved in our human instinct. Cooperative structures that include sharing, individual choices, gifting and swapping are a basic part of any community. However, to adopt the sharing economy as a business structure is relatively new. The term “sharing economy” has only recently come about in the mid-2000s. It…
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