Why you should think twice before buying a car!?

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Imagine this! You just went to buy a car from a dealer. You got your specifications met and have just purchased it. You feel great while driving back. But suddenly, the car just stopped working. You get out to see what happened. To your dismay, you see there is a massive oil leak. You look around and see that the leakage area has rust written all over it. And now you feel bad. Well let me tell you, you just have become a victim of what we call in Economics, Adverse Selection.

Imagine the scenes when you buy a car!
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A miracle in Vietnam!?

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Imagine in a school there is a quiet kid who doesn’t participate much in group activities and is always minding his/ her business. But if someone decides to bully that person, then he/she would definitely stand up against the bully! That’s basically Vietnam! Vietnam has always been a country which has been described as a tourist paradise. From mountains to beaches, Vietnam has it all. But, what is the miracle? What has Vietnam experienced lately that has made the people to claim it to be the “Next Asian Miracle!”

I would really love to visit Vietnam someday! 🙂
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Economics Behind- The Netflix Effect.

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Imagine this, it’s a lazy Sunday evening and you just had a great dinner. Today, you have planned to watch the new Netflix series which you had postponed for quite some time. You also know that Monday is a holiday so, you decide to stay up all night and binge watch the show. By the time you have finished it, you got really curious about certain props that were used in the series and decided to buy some of that on Amazon. Well this is basically the Netflix effect. Ever thought, how does this affect our day to day consumption?

People have literally created the term “Netflix and Chill” due to the hype.
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Why is Diwali so important to India’s economy?

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Think about this: you are walking down a street in a market. All you see are big banners with “SALE” written and on both sides a huge pool of people rushing towards those banners. That’s pretty much the scene before Diwali in India. You see, Diwali is a big deal for us. It not only has a huge impact on the social and cultural environment of the country but it impacts the economy as well.
This was clicked last year. 🙂
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Economics Behind: The Korean Wave.

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Remember back in the day, everyone was hooked on to Gangnam style! Yeah that was 2012. But, Korean pop culture was famous even before Gangnam Style. Since 1999, South Korea had a seen huge growth potential through their cultural economy. Throughout the 2000’s South Korea experienced something known as the “Korean Wave.” The Korean Wave or the “Hallyu” was one of the major reasons behind South Korea’s cultural and economic growth. So, how did “Hallyu” help in helping South Korea’s economy?

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