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In Pune, India, a society fights water scarcity as the government doesn't supply enough water to satisfy the citizens' needs and wants. Therefore, they have to find sustainable ways to get water. Such as save rainwater and prioritise different usages of water. This shows the concept of scarcity as there is a limited amount of water and it is unable to satisfy the needs of that society. This issue is not just going on with one society, but will thousands of others as clean water supply in India generally low because of the high population.

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It is a concept that states people have unlimited wants in a world of limited resources.

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An organised way a society uses its scarce resources and the way it allocates goods and services to satisfy people's wants.

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Market Economic System have disadvantages that heavily affect people in their 20s in Australia. While property ownership sounds like  good thing, booming house prices are disallowing people to move into bigger homes. As 31% of people over 21 in Australia are still living with their parents. This shows the bad side of a market economy and how government intervention is some cases can be a good thing. In my opinion, the government can lower the interest rates for new/young buyers when they want to purchase a property.

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Minimum Wage is different in many provinces in Canada but at the end of 2016, it was $11.2 on average.

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An oligopoly is a market structure where there are a few sellers with differentiated products generally in the same category. It is quite hard to enter and exit too.

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The internet industry is dominated by AT&T and Verizon. It is because these companies supply fast and reliable internet at a substantially low price compared to other service providers in the US.

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In Ontario, the minimum wage as of June 2017 is $11.40. By 2019, the government is planning to increase it to $15 which is a huge increase and is one of the highest minimum wages in the world. While it might seem good for the employees, businesses will have increased cost and making profit will be hard. This article says that high minimum wages can lead to minimum benefits. Worst case scenario, it will increase unemployment and poverty as businesses will only accept the best and will probably move on to technology to run the business operations

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The internet industry in the US is an Oligopoly as it is controlled by 2 major companies. SoftBank CEO Masayoshi Son says if Sprint merges with T-Mobile, the internet users in US will have a third option. He says "the speeds will be 10 times faster and it will be much cheaper". Although the idea sounds good for Sprint and the consumers, it will cost a lot of money simply merging the brands and other issues that will occur with the current users. But the deal goes through, it can definitely shape up the long-lasting oligopoly in US and it can allow for more entrants in the future as the barriers to enter/exit the market become less.
Watch Video in Link below:

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WASHINGTON The chief executive officer of Japan's SoftBank Corp on Tuesday called the U.S. wireless market an oligopoly plagued by slow speeds and high prices and said his company's Sprint Corp could shake up the competition, but it would require a scale that Sprint cannot reach alone.

Masayoshi Son, the billionaire CEO of SoftBank, in his first public speech to a U.S. audience since his company gained control of Sprint last year, lambasted the U.S. wireless market as offering "pseudo-competition."

Son did not directly speak about his efforts to engineer a merger of Sprint and T-Mobile US Inc, the No. 3 and No. 4 U.S. wireless carriers, but told reporters he hoped to meet again sometime with U.S. regulators, who so far have given a cold shoulder to such a deal.

He made a pitch for Sprint to not only challenge its traditional wireless competitors - No. 1 player Verizon Communications Inc and No. 2 AT&T Inc - but also wireline Internet providers such as Comcast Corp.

"I brought the network war and price war (to Japan). I'd like to bring that to the States," Son told an audience of industry officials at the U.S. Chamber of Commerce.

"I would like to provide an alternative to the oligopolistic situation that two-thirds of American households can only get access to one or two providers. I'd like to be a third alternative with 10 times the speed and lower price."

Son said Sprint has the same type of radio frequencies that helped SoftBank compete in Japan and SoftBank has technologies that could boost speeds and lower prices, but his companies needed more towers and other support to properly challenge the biggest Internet providers.

"We have the spectrum. We have the technology. But we need scale, efficiency to make an investment for the network," Son told reporters after his speech.

"We are already free cash-flow negative. So we can start a small fight but it does not scale, it does not last, it's not sustainable. We need to have a real fight, a long and deep and heavy fight. And for that, we need scale."

Both the chairman of the Federal Communications Commission, Tom Wheeler, and U.S. antitrust chief William Baer expressed skepticism about a merger of Sprint and T-Mobile after Son's round of meetings in Washington in February.

SoftBank is now focused on convincing the parties involved with the merits of a merger, a senior company executive said, adding that any moves toward pursuing a deal were now on hold. The official declined to be named because he was not authorized to speak about the matter publicly.

Son, who once threatened to set himself on fire as he pushed Japanese regulators to let him set up a high-speed Internet service, has shown he does not give up easily. He said he was not planning on new meetings with U.S. regulators during this trip, "but whenever we have the opportunity sometime in the future, that is I think necessary."

Softbank said on Tuesday it hired Bruce Gottlieb as its executive vice president for legal and regulatory affairs in Washington. Gottlieb has been president of the National Journal since 2012 and is a former chief counsel of the Federal Communications Commission.

"Last year, we made the largest-ever foreign investment by a Japanese company in the United States and we expect Bruce will play a key role in helping us manage the investments we have made in the U.S. mobile internet industry," SoftBank Holdings Inc President Ron Fisher said in a statement.

Son has repeatedly expressed his desire to make SoftBank the biggest mobile-related corporation in the world, and in the past has harshly criticized U.S. mobile networks and the degree of competition in the industry.

The potential for the deal and Son's criticisms have given an edge to the dynamic among top wireless executives.

"If Mr. Son is having a bad experience with U.S. wireless, it must be because he's using Sprint," Jim Cicconi, AT&T's senior executive vice president for external and legislative affairs, said jokingly in an emailed statement.

Even T-Mobile's CEO, John Legere, an avid user of social media site Twitter, quipped last week, "Remember when people actually liked @sprint? Yeah, me either. #SprintLikeHell"

(Reporting by Alina Selyukh in Washington; Additional reporting by Sophie Knight and Yoshiyasu Shida in Tokyo; Editing by Leslie Adler, Peter Cooney and Lisa Shumaker)

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diversified trading and distributing (trbc)

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diversified trading / distributing (legacy)

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cyclical consumer goods and services (trbc)

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SoftBank CEO says Sprint could shake up U.S. 'oligopoly'

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The chief executive officer of Japan's SoftBank Corp on Tuesday called the U.S. wireless market an oligopoly plagued by slow speeds and high prices and said his company's Sprint Corp could shake up the competition, but it would require a scale that Sprint cannot reach alone.

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Most of the electricity produced in Canada today is by natural resources such as coal and oil. Moving on into the future, they will try to produce electricity using renewable resources.

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It is a sustained rise in the general price level or a fall in the purchasing power of money

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Minorities such as the African American community in the United States generally have an disadvantage as there is a small amount of inequality when recruiting new employees. But the black unemployment rate has hit a 16 year low. This is extremely good because there is more human capital in the US which means the production of economic value will naturally good up. Not only unemployment rates have decreased, but also the opportunity to advance to higher positions have increased. This will naturally decrease the poverty levels of minorities in the US.

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Renewable energy companies in Calgary, Canada are looking to expand their business and boost profits as the Alberta Government tries to make an ambitious push for green electricity in Alberta. By 2030, the province aims to have 30% of its energy by wind, solar and hydro. This is extremely good for  the Canadian economy as moving on into the future, they can focus their non-renewable resources such as oil and gas for other uses and can move to supply energy mainly through renewable energy. This will both save money and the environment and can ultimately help increase economic growth.

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The percentage of the labour force that is jobless and looking for work.
Unemployment in HK below:

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The Japanese economy hasn't been growing at the rate that is used to about a few months ago. Therefore Prime Minister Shinzo Abe wants to boost the economy by pushing a greater role for fiscal policy. The government is planning to use an expansionary fiscal policy to increase aggregate demand to stimulate the slow growing Japanese economy. They will also increase government spending by investing in elder care, child care and research and development. This will also help the Japanese economy to have a surplus in the upcoming years and  it will lead to a stronger growing economy.

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The People's Bank of China (Central Bank in China) has allowed China's 5 biggest banks to lower to Required-Reserve-Ratio by 1% (to 16%). It is because the Lunar New Year holidays were coming up and China wanted to boost its economy because this year was deemed to be a lucky and prosperous one. While it may slightly increase the rate of inflation, it will also increase the money supply as more people and businesses are able to take loans. Not only that, the size of loan will also be much bigger. But ultimately, it will increase the economic growth of China.

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Fiscal Policy uses taxes and government spending to affect the economy (either to expand or contract the economy)

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Monetary Policy includes all the Central Bank actions that change the money supply in order to have an influence on the economy. It usually have the goals to either stable the prices or to maximize employment.

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The economy has a high standard of living, a high GDP, industrialisation, widespread private ownership of property, and stable and effective governments

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In the 1990, Brazil's 42% of the population was living in poverty (poverty: living under $3 per day). But in 2011, the poverty massively decreased to only 22% which is still decreasing. The reason for this change was more government aid as they built many homes and supplied other infrastructure such as free education. Similarly another good thing was happening, the GDP increased by over 8% over 20 years. There is a correlation between the two graphs because when more people get education and get out of poverty, the usually get better jobs and earn more. Which naturally increases other factors in the GDP such as consumer spending and net exports.

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GDP Per Capita in Bulgaria grows by 2.6%. It is $6820 as of June, 2017. It is because businesses and people invested into many different things over the past year which accounted for over 16% of the GDP. Consumption also increased by 3% which meant that the GDP naturally increased. This increase in GDP helped the increase in productivity. This will most likely mean that the GDP per Capita can keep on increasing for the next few years as Bulgaria's technology industries develop and the productivity levels of employees keep increasing.

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Extra charge for the use of money lent. Usually proportioned according to the amount of loan.

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Learning about supply and demand teaches me that how different businesses produce their products and services. Every business has an equilibrium price point to balance out the quantity demanded and the quantity supplied. The equilibrium point can also change in regards to external factors that the industries don’t have control of. The elasticity also shows me how different products are priced at different points and how consumers and suppliers react to different price changes in the marketplace. Whether a good is normal or inferior, people with different salaries have different demands for these products. For example, if I’m earning more I would go for the better quality good even though it is generally more expensive. Moreover, understanding what opportunity costs helps me in choosing what product to buy as I can foreshadow the loss of the other alternative when one is chosen. Learning about government intervention teaches me why and when do governments usually intervene more in the market. I see why taxes and government spending rise and fall at specific points of the growth of economy. It is usually to stimulate or to discourage growth in the economy. It will also help me to manage my finances better as I’ll know when to save or when to invest. I’ve learnt when are fiscal policies or monetary policies are used. This gives me a better understanding of the state of the government and both the economy and how well can my government react to the states of recession or expansion. Furthermore, I will also know how to manage my taxes at times of the business cycle in the economy. Learning about international trade teaches me why do countries engage in international trade. No countries are able to make every product in the world efficiently therefore countries specialize in manufacturing different products. This will allow them to maximize efficiency as countries will only produce the products that they have they a comparative advantage in and this will allow them to engage in trading with other countries. I’ve also learnt why there is protectionism when a country engages in international trade. It is usually to let new domestic companies to grow and expand and to also disallow harmful products into the country. I’ve also learnt how countries can go in a trade surplus or a trade deficit and to the extent it can affect the country’s economy. Learning about economic responsibilities showed me basis of any businesses. It showed my what every person is striving for in the world; to gain profit. Learning about different companies such as Vera Wang’s gown business showed be how supply and demand works. Because of her new designs and a changing taste in the market, her products were inelastic as the demand stayed high even though the price kept rising. Moreover, by learning how to finance my life, I learnt ways I can keep my credit score high so I can take loans when needed.

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Kapita (2016). KAPITA COMMUNITY SAVINGS AND INVESTMENT PROMOTION (COMSIP). Empower. Retrieved at: http://empowerprojects.org/project/kapitacomsip/

Novinite (7 June, 2017). GDP Per Capita in Bulgaria Grows by 2.6%. Novinite. Retrieved at: http://www.novinite.com/articles/180660/GDP+Per+Capita+in+Bulgaria+Grows+by+2.6

Thestar (20 January, 2017). China cuts reserve ratios for five big banks temporarily amid cash squeeze. Thestar. Retrieved at: http://www.thestar.com.my/business/business-news/2017/01/20/china-cuts-reserve-ratios-for-five-big-banks-temporarily-amid-cash-squeeze/

Cislo C. & Takahashi M. (21 November, 2016). Japan Looks to Increase Role of Fiscal Policy in Next Budget. Bloomberg. Retrieved at: https://www.bloomberg.com/news/articles/2016-11-21/japan-looks-to-increase-role-of-fiscal-policy-in-next-budget

Hahm M. (7 June, 2017). Here’s why the black unemployment rate hit a 16 ½-year low. Yahoo Finance. Retrieved at: https://finance.yahoo.com/news/black-unemployment-rate-hits-16-12-year-low-162635060.html

CBC (5 June, 2017). Alberta energy minister touts 'exciting time' for renewables sector at Calgary conference. CBC News. Retrieved at: http://www.cbc.ca/news/canada/calgary/renewable-energy-summit-calgary-mccuaig-boyd-solar-wind-1.4146744

Mahboubi P. (5 June, 2017). High minimum wages have minimum benefit. The Globe and Mail. Retrieved at: https://www.theglobeandmail.com/report-on-business/rob-commentary/high-minimum-wages-have-minimum-benefit/article35207408/

TechnologyNews. (12 March, 2014). SoftBank CEO says Sprint could shake up U.S. 'oligopoly'. Reuters. Retrieved at: http://www.reuters.com/article/us-softbank-son-tmobile-idUSBREA2A1TB20140312

Kennedy J. & Blumer C. (30 April 2017). Housing affordability crisis keeps families locked out of home ownership. ABC News. Retrieved at: http://www.abc.net.au/news/2017-04-30/housing-affordability-locks-out-families/8484258

Patwardhan A. (May, 2017). A Society in Pune Is Fighting Water Scarcity & Saving ₹ 20 Lakh Every Year. Here’s How. The Better India. Retrieved at: http://www.thebetterindia.com/99819/roseland-residency-pune-rainwater-harvesting-plantation-eco-friendly/

Public District school Board writing Partnership (Ont.) (2012). The Individual and the Economy. Ottawa, Ontario. Queen's Printer for Ontario.

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It is a country that has moved (or is moving) from a command economy to a market economy.

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Kapita is a community in Malawi, and they don't have any access to any financial services. This meant that farmers and entrepreneurs always had lack of capital. Therefore the organisation Empower helped the community to have a community bank called COMSIP. This allows for people to put in their savings. But the main reason for this bank is that community members are allowed to take a loan with low interest rates and they are allowed to start new businesses or expand their farms. This bank is also promoted quite a lot for women because the organisation wants everyone in the community to have a sustainable life.
Watch video below:

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Total investment of $6000 into Kapita COMSIP since 2012:

Empower Projects provided the seed funding for the project through an interest-free loan.

Household solar lighting systems. 200 household have acquired modern solar lanterns that also charge mobile phones.

137 people trained in business start up and management

Business clinics/boot camps

Ongoing project monitoring

Construction of Earthship Community Centre to house the bank.

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Kapita Community Savings and Investment Promotion (COMSIP) - Empower

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Total investment of $6000 into Kapita COMSIP since 2012: Empower Projects provided the seed funding for the project through an interest-free loan. Household solar lighting systems. 200 household have acquired modern solar lanterns that also charge mobile phones. 137 people trained in business start up and management Business clinics/boot camps Ongoing project monitoring Construction of Earthship Community Centre to house the bank.