Why Economies Grow Essay Example | Topics and Well Written Essays - 1250 words

Why Economies Grow - Essay Example Any country is said to be developed if the demand & supply chain of that country show that there is more supply of goods than demand by the market. Many factors count in this regard, the natural resources according to the geography, manufacturing, distribution, consumption, exchange medium etc. All these factors set the constraints & parameters in which the economy of any country works & may or may not flourish. All activities happening in a country also account for its economic growth. The occupations, education, business & investments are the basic pillars upon which the economy stands. The greater amount of people a country produce as literates or skilled workers, the more productivity will increase & the economy will grow. More the resources are being used by the government for its people, the less will be the demand & ultimately the economy will boost. Any country’s economy initially depends upon the extraction of natural resources like iron, coal, oil & gas, petroleum et c, then these are transformed from raw structure to products like machines, furniture, clothes etc, then these products are supplied to consumers along with the personal services provided by skilled workers. Finally economy depends upon the private & public sector facilities which include hospitals, transports, libraries, institutes etc. All these factors play their parts in the growth of any state’s economy. Overall, the size of economy of any country is determined by the Gross domestic product GDP & GDP per capita of that country, which only includes such economic activities in which the money is exchanged. The living standards in a particular state are measured through GDP per capita & every change in GDP indicates a change in the living standards. Economic growth is defined as the â€Å"increasing capacity of the economy to satisfy the wants of goods and services of the members of society. Economic growth is enabled by increases in productivity, which lowers the inputs i ncluding labor, capital, material, energy, etc for a given amount of output†. (Kendrick, John W.1961). In his famous book Why Economies Grow, Jeff Madrick argued that market growth through trade & expansion is the biggest factor of economical development. He also said that technological advancement is not the cause of economical growth in developed countries, rather it is an effect caused by the economical revolution during the mid of 20th century. The economic growth also generates such resources which improvise the social services sector which includes healthcare, safety, good infrastructure, education etc. Such kinds of resources diminish the affects of unequal distribution of income in the society & are equally distributed amongst the whole population. Hence every individual can take benefit from it. The healthier & stronger a nation, stronger will be the country & the economy will get more stable. Such resources increase the living standards of the general public & thus h uman development propels economic development of a country. If there is an increase in average income, it leads to proper use of social services provided thus building a healthy & prosperous nation. On the other hand, if poverty is reduced, there will be more use of social services & more population will enjoy their benefits. Economic growth is often related to Economic Freedom, which offers a surviving Hope to Countries which are struggling with poverty & other severe issues. Such countries must develop such policies by which economic growth will increase & then they have to go on the subject of health & food. The policies may include economic freedom in which citizens are allowed to make their own economic policies without the interference of

Employee Annual self-Evaluation Assignment Example | Topics and Well Written Essays - 250 words

Employee Annual self-Evaluation - Assignment Example Having the positive attitude and self-confidence to succeed, while motivating the work team to remain focused on the job details, is my progress agenda. This involves meeting the delivery deadlines and work challenges in a responsible manner. Treating fellow workers with respect, following the transparent practices in communication with clients and co-workers, while personally admitting the mistakes remains the important aspect of my ethics policy. I resolve that I must set an example, where others will follow me. Meeting the clients and my co-workers on regular basis, for efficient and timely execution of jobs undertaken, remains high on my work agenda. This is with a view to uphold the confidence shown by clients in capability of the company executing the orders efficiently. Efficient communication, with a problem-solving attitude, while dealing with my coworkers remains the top priority. Respecting the ethical and cultural ethos as well as differences, I try to hold others accountable. Meeting commitments, while promoting cohesive work culture and recognition through rewards is the benchmark for me. Contributing to success of the company through proper follow up of client feedback is my target. This includes the will to listen to others, for understanding my strengths and weaknesses in a constructive manner. Accepting changes in the system with an open mind, while identifying new business opportunities for the company is my strategic goal for performance. This includes working towards getting the support of all relevant people in the organization. I constantly work towards acquiring more knowledge in my professional field, by employing work-experience and academic principals in an efficient manner to remain successful at my job, while aspiring for going higher on the corporate