factories‚ friendly government legislations‚ and reduced import and export tariffs. The manufacturing industry was first to move and so the NICs became more focused on the secondary sector while the source countries (MEDCs) became tertiary sector economies. This is a disadvantage for most of the MEDCs as they will face periods of structural unemployment where the unskilled workers who could only do manufacturing work will be unable to find jobs. The NICs will have reduced unemployment since a lot of
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Free market economy stimulates greater economy growth‚ whereas state-directed or command economy stifles growth. Discuss. An economy can be defined as the production of the nation in a period and consumption of goods and services. The two main systems of economy are free market economies and command economy. There are lots of arguments about which is better for the growth of nation’s economy. This essay is about both the two economic systems and how they impact the growth of economies‚ it will be
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Philippine economy posts 7.8% growth The Philippines continues to enjoy remarkable economic development this year‚ notably the investment-grade ratings it received and increased government competitiveness index. On May 30‚ 2013‚ the Philippine Gross Domestic Product (GDP) was 7.8% in the first quarter of 2013‚ the fastest in Asia. The growth rate was the highest recorded in the Aquino Administration‚ and the 3rd consecutive quarter that registered above 7%‚ surpassing market expectations. The
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THE EFFECT OF GLOBALISATION ON THE DEVELOPMENT OF UNDERDEVELOPED1 ECONOMIES By MUSA JEGA IBRAHIM The existing wide disparities between the developed and the underdeveloped economies makes globalisation a tool for stultifying the industrialisation process‚ and by extension‚ retarding the growth and development of underdeveloped economies. Trade liberalisation‚ the cardinal instrument of globalisation ensures that industrialised countries have access to world markets‚ which enhances further
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Transition Economy in Poland 2013 Jeonghun Song (Julia) Economics HL International School of Phnom Penh Contents Abstract 3 Introduction 4 Procedure or Method 4 Main Results and Findings / Analysis and Discussion 5 Conclusion and Recommendation 8 Works Cited 10 Abstract Poland is a part of OECD that indicates high income level; it insists Gross Domestic Product (GDP) of $489.8 billion and has population of 38.54 million. This report
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In today society‚ in order to see and understand how the Australia’s economy develops and operates‚ economists often compare and contrast the Australian economy with other highly advanced industrialized economies around the world such as US‚ China‚ Korea‚ etc. In this essay‚ I will compare and contrast Australia and Japan’s economy to see how each system deal with specific issues such as economic growth‚ quality of life‚ employment and unemployment‚ distribution of income‚ environmental sustainability
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TIM 304 Welcome to the Experience Economy Article notes Changes that represents a step up in economic value * Agriculture * manufactured goods * services * Economic value is a way for producers to differentiate their products from increasing undifferentiated offerings from their competitives. * Staging experiences- looking for the next higher value in an economic offering * Companies will have to learn how to design‚ sell‚ and deliver experiences for customers
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STRUCTURE OF TURKISH ECONOMY HOTELS AND RESTAURANTS 1. INTRODUCTION 2. Tourism Impact on National Economy 3. Impacts of Hotel and Restaurant Industry on National Economy 4. Hotel and Restaurant Industry 4.1. Hotel Industry 4.2. Historical Background of Hotel Industry 4.3. Investments in Hotel Industry in Turkey 4.4. Evaluation of Hotel Industry 4.5. Restaurant Industry 4.6. Historical Background of Restaurant Industry 4.7. Investments in Restaurant Industry in Turkey
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income and employment. Infrastructure investment and consumption of infrastructure services have significant implications for achievement of sustainable development objectives‚ as infrastructure services: Encourage new investment across the economy; Underpin many aspects of economic and social activity; Facilitate the flow of ideas‚ goods and services; Facilitate regional economic growth; Are critical to maintain an inclusive‚ healthy and productive workforce; Involve large
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Is healthy competition necessary for a growing economy? Yes‚ Definitely. Competition leads to innovation. Only when there are multiple companies competing for the sale of the same commodity or service in the market‚ do they actually go the extra mile and put in the effort to improve the quality‚ durability and affordability of the same. Competition between two or multiple firms in the market will lead to the firms improving their means of sale in order to sustain in the market. It makes the company
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