all support production and marketing for industries within the country. Beside that‚ the quality of an Infrastructure directly affects a country’s economic growth potential and the ability of an enterprise to engage effectively. Infrastructure is important for the services it provides. Infrastructure provides services that support economic growth by increasing the productivity of labors and capital thereby reducing the costs of production and raising profitability‚ production‚ income and employment
Premium Economy Economics Economic growth
capital is therefore a vital factor of production‚ seemingly the most prominent of all the other types of Capital. Owing to increasing population growth in Kenya‚ labor is not a hindrance to development. In fact‚ people export their workforce to the United States of America through the famous Green card lottery. There is more than this in economic development process.
Premium Economic growth Economics East Africa
compared to China. The first article is called “Catching the Eagle”. In December 2010‚ the Economist introduced a chart that made prediction of when China’s economy will overtake America’s economy. When the chart was first introduced in 2010‚ the Economist included a set of default assumptions for the decade ahead. They assumed that growth would average 7.75% in China over the subsequent ten years and 2.5% in America. Moreover‚ the data assumed that inflation would average 4% in China and 1.5% in
Premium Inflation Economic growth United States
The Role of Entrepreneurship in Economic Development The entrepreneurs with their ability to scan‚ analyze and identify opportunities in the environment transform them into business proposition through creation of economic entities. Entrepreneurship and economic development are intimately related. So‚ that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country‚ entrepreneurship
Premium Entrepreneurship Economic development Entrepreneur
major indication of its success. One aspect of a nation ’s economic success or failure is the system of government. Whether a nation is socialistic‚ communistic‚ ruled by absolute sovereignty‚ or based on capitalistic principles can be a key factor in a country ’s economic success or failure. Government is the foundation of an economy but it is not what determines its success. Issues that determine a nation ’s economic success include growth strategies‚ improved or increased resources‚ investment and
Free Economics Unemployment Inflation
Economic indicators: USA vs. Zimbabwe Background of U.S Economy The United States has a capitalist mixed economy‚ which is fueled by rich natural resources‚ a well-developed infrastructure‚ and high productivity with a per capita GDP of $47‚200. According to the International Monetary Fund‚ the U.S. GDP of $15 trillion constitutes 23% of the gross world product at market exchange rates and over 20% of the gross world product at purchasing power parity. Though larger than any other nations‚
Premium Gross domestic product United States Economics
The Technology of Industrialization (U.S. Economic History) We already knew the men who guide the process of industrialization in U.S. economic history‚ but we need to explore and examine the truth of technology of industrialization in American history such as the entire iron and steel industry. The industrialization applied to the social and economic changes that mark the transition from a stable agricultural and commercial society to a modern industrial society because of using complex machinery
Premium Industrial Revolution Economics Economic growth
Studies” Course paper in Economics Economic indicators for analysis of living standards in Latvia and Scandinavian countries – Sweden and Norway Author: Yevgeniya Grygorchuk Group D1A2 Supervisor: A.Petrovs Riga‚ Month 2009 Introduction 4 Topic relevance 4 Course paper aim 4 Course paper tasks 4 1 Theoretical basis 5 1.1 Definition of the term “living standards” 5 1.2 Factors that influence an increase in living standards 5 1.3 Economic indicators for analysis
Premium European Union Gross domestic product Economics
Root Cause of Economic Slowdown in India Corruption is omnipresent. From micro-institutions to macro-institution‚ from local to government institutes each operated and continued to exist and flourish with its own set of corruption activities. What should be noted here is that corruption is going to exist as long as planet earth does. There is plausible end to the institution of corruption‚ which though illegal is unconsciously legal‚ especially in developing countries like China and India.
Free Economics India Developing country
measure of economic progress?* Olivier Vaury (École Normale Supérieure‚ Paris) Every year‚ or even every quarter‚ economic growth figures are anticipated and scrutinised to assess the economic health of a country. In spite of abundant commentary in the media by politicians and economists‚ the very notion of economic growth remains elusive: who really knows what it really measures ? Yet the level of GDP (or GDP growth) is probably the most widely used indicator for piloting economic policies around
Premium Economics Gross domestic product Economic growth