Having economic growth can be very advantages for a country because it decreases the level of unemployment and gives the majority of the population to enjoy a better standard of living. But‚ there are some drawbacks when it comes to a high rate of economic growth. Inflation Risk : If there’s a high rate of economic growth‚ there could be a negative impact on the economy because it will lead to inflation. If there is a high growth rate with a high inflation‚ the growth rate can hardly be
Premium Poverty Economics Inflation
What Caused Economic Crisis? Readers Questions: What are the factors that makes today’s economic crisis? Which of them are the most important in today’s economic crisis? Some of the most significant factors in causing today’s economic crisis: · A glut of saving from Asia. A glut of savings poured into US and similar countries like UK. This kept US interest rates low and encouraged high levels of consumer spending in US. It encouraged a large current account deficit in the US. It also encouraged
Premium Subprime mortgage crisis Mortgage Subprime lending
DISCUSS SOCIAL SCIENCE RESEARCH Social science research is refers to any scientific study of human action and Interaction focusing on element of thought and behavior that are in some sense Social‚ as such social scientific aspire to science‚ they intend to study human action and interaction‚ and thought and behavior in a systematic‚ rigorous evident-based‚ generalizing replicable and cumulative fashion. social science is more specifically a truth seeking activity aim at contributing to existing knowledge
Premium Scientific method Science
1. What is the difference between micro and macroeconomics? Economics covers a large area of economic concerns and is divided into two parts: Microeconomics and Macroeconomics. Microeconomics studies the actions of the individual actors within the economy‚ such as buyers‚ sellers‚ and businesses. Additionally‚ microeconomics allows the actors to differentiate the values from one decision to another. While macroeconomics examines a larger picture of the economy by studying the employment‚ incomes
Premium Economics Macroeconomics Supply and demand
Discuss the costs and benefits of economic growth. PLAN Economic growth an increase in the amount of goods and services produced per head of the population over a period of time. Economic growth is measured as the increase in real GDP over a given period of time‚ usually a year. This figure is expressed as a percentage. Real GDP can be defined as an inflation-adjusted measure that reflects the value of all goods and services produced in a given year‚ expressed in base-year prices. In the long run
Premium Economics Inflation
Roll no. 33118 Assignment series 1 Problem From gapminder.org we are required to compare the following countries for their economic and social indicators and report salient findings. We have to figure out whether India is a superpower or not. 1. India 2. Pakistan 3. Bangladesh 4. Nepal 5. Sri Lanka Assumptions 1. Year 1947 is taken because three out of the given five became independent around that time with Nepal in 1923 and Bangladesh in 1971. 2. Super-power country doesn’t
Premium Quality of life India Purchasing power parity
Economic prosperity of a country entirely depends on the economic resources it has. These economic resources are classified as Natural resources‚ financial resources and Human resources. Natural resources comprise of fertile land‚ ideal topography‚ abundant forests‚ sufficient mineral resources and excess water supply. Financial resources include the capital needed for the economic activities. Human resources include the population‚ its growth rate‚ skills‚ standard of living and working capacity
Free Economics Unemployment Economic development
The basis of nationality is the sensé of belonging to the same nation and the désire on the part of its members to live with each other at this level of community. When the political scientist wants to de fine or locate this subjective sensé of community‚ he has used such objective criteria as common language‚ common history‚ common territory‚ and so forth. It is clear that ail thèse criteria are an expression of something more basic—shared expérience. This shared expérience‚ which may lead to the
Premium Communication
Maynard Keynes is perhaps one of the most influential economists of our generation. Keynes‚ a British economist who lived from 1883 to 1946‚ changed the philosophy and practice of macroeconomics including the government economic policy. His theory‚ referred to as Keynesian Economics‚ was based on a circular flow of money‚ which refers to the idea that when spending increases in an economy‚ earnings also increase‚ which can lead to even more spending and earnings. Keynes believed that the government
Premium John Maynard Keynes Macroeconomics Winston Churchill
Political and Economic Differences Paper: In this paper‚ provide a descriptive title or heading for your paper by focusing on topics or countries that interest you (such as “Political and Economical Developments in the Asian or European Systems”)‚ and then discuss the following concepts: 1) Explain in detail why and how the political systems of countries differ; 2) discuss how the legal systems of countries differ; 3) explain what determines the level of economic development of a nation; 4) discuss with examples
Premium United Kingdom Economic development Economics