Getting a handle on gamification. Gamification makes use of people’s inherent propensities for achievement, competition, cooperation, and charity. In the real world, game design tools like “leveling up,” rewarding users for achievements, and earning badges are used to help people achieve their goals or perform better. Gamification can take many forms, the most well-known of…
How does the Sahm Rule work? The “Sahm Rule” is a recession indicator that was created and is named after Claudia Sahm, a macroeconomist who worked at the White House Council of Economic Advisers and the Federal Reserve.1 According to the Sahm Rule, the early stages of a recession are indicated when the three-month moving…
1 Choose Your Trading Style Before You Begin Trading It’s Important to Choose Your Trading Style Do you prefer to trade in the short term or invest for the long term? Are you able to devote the necessary amount of time and effort to day trading, or would swing or position trading be more appropriate…
In economic terms, what is ALICE (Asset Limited, Income Constrained, Employed)? ALICE stands for “Asset Limited, Income Constrained, Employed,” which refers to workers who earn more than the federal poverty line but less than they need to cover their basic needs. These individuals hold a variety of jobs in retail sales and restaurant services that…
How Does Inflation Arise? There are a variety of factors that can contribute to inflation, which measures the rate at which the price of goods and services rises. It can be brought on by market disruptions like the Covid-19 pandemic or increases in production costs for labor or raw materials. Inflation can also result from…
“The Wealth of Nations”: What Is It? Adam Smith, an influential Scottish philosopher and economist, wrote “The Wealth of Nations” in 1776. “An Inquiry into the Nature and Causes of the Wealth of Nations” is its full title. The book was written by Smith to explain how the mercantilist system was being overturned by the…
What Do Tariffs Mean? Countries impose tariffs as a form of trade barrier to drive up the price of imported goods relative to domestic ones. Importers are typically subject to taxes or duties, which are then passed on to end consumers. In international trade, they are frequently used as a protectionist measure to benefit domestic…
GDP versus GDP: A Synopsis GDP (Gross domestic product) is the worth of the completed homegrown labor and products delivered inside a country’s boundaries. On the other hand, a country’s gross national product (GNP) is the value of all finished goods and services produced domestically and abroad by its citizens. Two of the most frequently…
Economics: Positive versus Normative: A Synopsis While normative economics focuses on subjective statements about economic fairness or how the economy ought to be organized, positive economics describes and explains economic phenomena in terms that are objective and measurable. These are two subfields of contemporary economics. To put it another way, normative economics inquires about what…
Cane grown in tropical and subtropical climates accounts for approximately 80% of all sugar produced worldwide. Sugar beets, which are primarily grown in temperate regions of the Northern Hemisphere, account for the remaining 20%. The world’s largest producers of sugar are China, the United States, India, Thailand, and Brazil. The European Union, which consists of…
