Theoretically economic growth could have negative effects over the growing economy when production expands for products the world demand for which is inelastic. If growth occurs in sectors and for products the world demand for which is elastic it could be expected that total revenues to domestic...

In the process of transition of Central and East European countries (CEEC) to a market economy the critical importance of multinational corporations is growing in view of the fact that the former socialist economies have to reintegrate into the global economy and that multinational firms are the...

After nearly a decade of profound economic changes and a market transformation, the countries in Central and Eastern Europe now face the challenge of development and sustainable growth. The development priorities include achieving a high income growth for their economies by raising investment...

After nearly a decade of profound economic changes and a market transformation the countries in Central and Eastern Europe now face the challenge of development and sustainable growth. The development priorities include achieving a high income growth for their economies by raising investment...

Using case studies in class becomes more and more common with the increasing need to make students experience real-life situations in which they have to do decision-making and prepare themselves for the uncertainties of the workplace. By allowing students to gain hands-on experience of the real...

We wish to examine critically the viewpoint that: a) economists take too narrow a view of rationality and do not recognize the role of emotions as a component of rationality and b) do not address the question of whether preferences are rational or not, and instead take them as just given. We...

Our paper does not study the rational man with his optimal choice, with his behavior once confronted with the problem of scarcity and resource allocation, nor does it study the man of cost-benefit analysis, the one of logical considerations, honest in his conclusions but free from emotional...

Excess capacity is viewed as a distinctive feature and an essential inefficiency of monopolistic competition as the large-group case of imperfect competition. Using a simple geometrical approach and studying the demand and cost curves faced by the individual firm, we find that there is little...

This paper relates economic development to transaction costs. It reveals the triad transaction costs-market failure-economic underdevelopment. Many scholars attribute the problems of development to the failure of markets to perform their role of resource allocation. Some deny market failure and...

The paper focuses on the role of wholesaling in the establishment of international distribution channels with respect to the transaction costs associated with the sale of goods on the international market. The first part of the paper is devoted to the peculiarities and conditions of the domestic...