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Economic forces are the factors that help to determine the competitiveness of the environment in which the firm operates. [1] These factors include: [2] Unemployment level; Inflation rate; Fiscal policies; Government changes; These factors determine an enterprise’s volume of demand for its product and affect its marketing strategies and ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Country Complexity Rankings [1] Rank Country Economic complexity index (2018) Change in 5 years (2013-18) Change in 10 years (2008-18) 1 Japan: 2.43 2 Switzerland: 2.17 1 1 3 Republic of Korea: 2.11 4 8 4 Germany: 2.09 2 2 5 Singapore: 1.85 1 6 Austria: 1.81 2 1 7 Czech Republic: 1.80 1 2 8 Sweden: 1.70 3 9 Hungary: 1.66 5 10 Slovenia: 1.62 3 3 11
Regional economic geography examines the economic conditions of particular regions or countries of the world. It deals with economic regionalization as well as local economic development. Historical economic geography examines the history and development of spatial economic structure. Using historical data, it examines how centers of population ...
Adding net factor incomes from abroad to GDP produces gross national income (GNI), which measures total income of all residents in the economy. In most countries, the difference between GDP and GNI are modest so that GDP can approximately be treated as total income of all the inhabitants as well, but in some countries, e.g. countries with very ...
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.