Reference no: EM132194130

Assignment - Evaluation of an Economy

Learning Outcomes -

• Illustrate the workings of market economies and identify the reasons for and impacts of government involvement in economic activities.
• Identify the effects that macroeconomic variables and policies have on organisations.

Requirements:

1. Identify an economy with which you are familiar or are interested in.

2. Describe the current situation and recent performance of the economy. Areas covered should include the levels and growth rates of total and per capital GDP, the relative importance of major sectors of production (agriculture, mining, industry and services), the allocation of labour among sectors and the levels of labour productivity in these sectors, the rate of unemployment, the rate of inflation, the state of the balance of payments and the distribution of income. (500 words)

3. Identify two major economic problems facing the economy, discuss their causes and assess the impact of the problems on local and foreign businesses. (500 words)

4. Discuss possible solutions to each these problems. (500 words)

5. Identify two export products (goods or services) for a port-city in your economy (or any major city if the economy is land-locked) that will soon be visited by a trading ship that is cruising around all the populated continents looking for trading opportunities. Use a demand-supply framework to justify your two choices. (500 words)

6. Three-minute presentation (90 seconds by each team member) on Requirement 5.