Analyst Questions

The Berlin conference in 1884 was significant because it created rules on how European nations want to colonize Africa.

Capitalism is an economic system in which private individuals or businesses own capital goods i.e, economy is characterized by private ownership of the means of production. The production of goods and services is based on supply and demand in the general market known as a market economy and not on central planning known as a planned economy.

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

Judaism is one of the oldest monotheistic religions and was founded over 3500 years ago in the Middle East.

Jews believe that God appointed the Jews to be his chosen people in order to set an example of holiness and ethical behaviour to the world.

Making Optimal decisions at the margin requires "Weighing the costs and benefits of a decision before deciding if it should be pursued".

There are basically two important phases in a business cycle that are prosperity and depression. The other phases that are expansion, peak, trough and recovery are intermediary phases.

Expansion is a phase in which, when the economy moves from a trough to a peak. It is a period when the level of business activity surges and gross domestic product (GDP) expands until it reaches a peak.

For a good that is a luxury demand tends to be elastic.

The first government of the United States was called 'The United States in Congress Assembled'. The first President of the First Government was John Hanson.