World Of Notes 365

                                                                                                                                               Introduction There are different kinds of markets in an economy, for instance, perfect, monopolistic, oligopolistic, monopoly, and so on. One such market is monopsony. Monopsony exhibits the opposite characteristics of monopoly. In a monopsony market, there is only one (dominant) buyer and multiple sellers for a particular product or service. As there is only one buyer, this makes the monopsonistic extremely powerful when it comes to influencing the demand and supply of the product or ser...

                                                                            Abstract The entire world experienced and bore the impact of the COVID-19 pandemic, and none of the economies in the world were left untouched by it. COVID-19 impacted different sectors of the economy. Here we will discuss the impact of COVID-19 on the manufacturing sector of South Korea using macroeconomic indicators like Revenue generated through exports and the contribution of the manufacturing sector to its economy. South Korea is known for its manufacturing sector; it is especially known for the manufacturing of automobiles, semiconductors, electronics, and petrochemicals. Manufacturing sectors contribute around 30% to the GDP of South Korea, which makes it essential for us to understand the impact of COVID-19 on this s...

  Whenever you want to commute what is the first thing that comes to your mind? Uber, right? It is surprising to see how Uber has become a synonym for a taxi. Let's discuss the following points to understand Uber in a better way- How did the concept of Uber start? Which economic problem does Uber try to solve? How does it thrive online? Why is uber still a loss-incurring company? My analysis.                                       How did the concept of Uber start? Once two friends went to an economic conference and when the conference ended the two friends found it hard to find a taxi. At that time, they thought that it would be fun if they could call a taxi just by clicking a button. This became a trigger for them and they started working on this idea and revolutionized the modern transportation model. Apart from transportation Uber also provides services like ordering food (UberEATS), U...