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ERNEST SENAYA

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ERNEST SENAYA

ERNEST SENAYA

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Forms of Milk

Milk comes from two main sources, that is from humans (breast milk) and cows. But these two milk forms are different in nutritional value as human milk contains a greater amount of carbohydrate than c...

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Concept of Scarcity and Abundance

The central economic problem is scarcity. But are all goods and services scarce? In anything we desire truly abundant? First, what do we mean by abundance? In the economic sense we mean something w...

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Adam Smith

Many economists would argue that modern economics dates from 1778. That was the year in which Adam Smith’s an inquiry into the nature and causes of wealth of nations was published-one of the most impo...

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Economic Reasoning

Economics is one of the social sciences. So in what sense is it a science? Is it like the natural sciences such as physics and astronomy? What is the significant of the word ‘social’ in social science...

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Application of demand and supply to Markets

Leave things up to the market. The market will sort if out. It’s what the market wants. You can’t buck the market. These are typical saying about the market and emphasise the power of market forces...

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How Planning was done in the Soviet Union

The Bolsheviks under the leadership of Lenin came to power in Russia with the October revolution of 1917. The Bolsheviks, however, were opposed by the white Russians and civil war ensued. During th...

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