Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Mr. Allcrypto on March 07, 2024, 11:05:45 PM
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
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What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they are rich in oil and natural gases.
Technological advancement is also one of the factors affecting the growth of economy. Look at those highly developed countries like China, Israel, Japan, Europe, South Korea, USA and many others they have the high technology the world needs either from military hardwares, machineries, renewable energies etc it literally boosts their economy.
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Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they are rich in oil and natural gases.
It's not so much about natural resources as what you do with them. Venezuela is the country with the most oil reserves in the world and look how it is, with people starving and emigrating en masse. Legal certainty, reasonable taxes and leaving enough initiative to the private sector I think are key in this respect.
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First would be security because an investor would not want to splash out money on an area where it's infested by bandits and terrorist. The second would be friendly economic policies that would entice outside investors. Tax breaks and less Government interference are ideal. You also have cheaper labor costs.
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Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they are rich in oil and natural gases.
It's not so much about natural resources as what you do with them. Venezuela is the country with the most oil reserves in the world and look how it is, with people starving and emigrating en masse. Legal certainty, reasonable taxes and leaving enough initiative to the private sector I think are key in this respect.
It was all stated here in this article on what are the possible causes why Venezuela is experiencing crisis.
Why is Venezuela in crisis?
Years of hyperinflation, rampant corruption, economic mismanagement, and a lack of economic diversification have taken a heavy toll on Venezuela. The country has been impacted by social and political unrest, leading to protests and violence that contribute to a pervasive sense of national insecurity. Once among the wealthiest nations in Latin America, Venezuela relied heavily on its vast oil reserves for revenue. However, a significant decline in oil prices and production, coupled with inadequate government investments, resulted in the collapse of the national economy. The government’s ineffective response to these challenges and failure to provide essential social services have exacerbated the crisis, leaving Venezuelans struggling with dire shortages of food, medicine, and other necessities.
Source: https://www.worldvision.org/disaster-relief-news-stories/venezuela-crisis-facts
If these resources are ultilized properly and there is no corruption in this country their economy will be strong just like other country in that region.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
They are several factors that can contribute in a growth of economy in a country, they are human capital,technology and productivity. These three Factors have the capacity to make the economy to drive forward.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
They are several factors that can contribute in a growth of economy in a country, they are human capital,technology and productivity. These three Factors have the capacity to make the economy to drive forward.
You may also add good governance as it may also affect economic growth. Without it no big time foreign investors and local businesses will bother spending their money, time and effort to open up their interests in a specific country. Do you really think investors will be pouring investments in a country where instability and corruption is rampant? No.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
I think the main factor that affect the economy of a country positively,is human capital development.
Human capital development can affect the economy of a country positively,and can help to improve the economy by developing knowledge and skills of people. A knowledgeable workforce can drive increase of productivity, which is caused by human capital development. Where human capital increases in every levels, it increases productivity in every sector of life. that's my input.
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Personally I would say the central body of a state (country) and their policies.
What's the essence of been blessed with natural resources, human resources,techological resources, capital resources and it's not properly utilised.
Development in a country is not really centered on her resources but it's a factor.
Let's use this scenario
Who would win a race between a man with a car but can't start it nor drive with and one that's a runner with above average stamina. It doesn't take a genius to deduce the winner.
Resources held by a country is an advantage but not a guarantee of success. There are countries that are relatively less blessed but are performing well than those blessed.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
I also believe that education is really necessary. An trained staff is required for a healthy economy. Education enables people to develop the skills required to be good employees and leaders. It also teaches kids the value of saving and investing, which can contribute to an economy with greater stability. Furthermore, an educated workforce can assist a country attract fresh businesses and investment, which helps boost the economy. So it's a positive cycle: greater education leads to a better economy, which means more money to be spent in education.
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Here it is very important to take into account and accept one nuance - it is necessary to realize that the modern world is becoming technological, moving away from the concept of resource-based. Yes, resources are good, yes they are still needed, but... Without technology, it is difficult to extract resources, difficult to process them, and almost impossible to create high-tech goods from resources. If we go back 300-500 years ago - yes, there the world was exclusively raw materials, because for the production of 99.99% of everything necessary man needed only resources, physical force and primitive mechanization. Now the world has changed dramatically. Technology is now at the helm. I am about to say a thought that is not very pleasant to some countries, but it is also a fact - a technologically backward country with resources, for "papers" of a high-tech country - will get any resources, send them nicely, exchanging a huge amount of its resources for a small amount of papers of a high-tech country.
Therefore - stimulating the economy and gaining advantages - through the development of technology, education, attracting investment
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
I also believe that education is really necessary. An trained staff is required for a healthy economy. Education enables people to develop the skills required to be good employees and leaders. It also teaches kids the value of saving and investing, which can contribute to an economy with greater stability. Furthermore, an educated workforce can assist a country attract fresh businesses and investment, which helps boost the economy. So it's a positive cycle: greater education leads to a better economy, which means more money to be spent in education.
Quality Education is good for the citizens too, but how does it contributes to the economy?
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What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they is rich in oil and natural gases.
Ideally, natural resources can boost a country's economy since they can bring prosperity to a country by attracting investors thereby paving the way for citizens to work and improve the economy but in Nigeria, our natural resources have not brought about prosperity in the country. Sadly, we export our natural resources to different countries and these countries will process the natural resources and then we import the finished product at a higher cost.
So, basing my argument on Nigeria, I disagree with you that natural resources are the main factor that can boost a country's economy. Natural resources cannot harness itself and bring prosperity to a country but rather policies in place as mentioned by the OP are what matters. Whether natural resources become a cause or a blessing to a country depends on government policies regarding its importation and exportation or how it can be harnessed locally to boost the country's economy.
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There are several factors that can boost a country economy based on some criteria that are to be set up for betterment of the country. The openness to encourage the exchange of technologies which further to boost the economy, attraction of foreign investment to its economy, stable government skilled workforce and other natural resources
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In very brief, I would emphasize several key aspects for the effective development of the country's economy:
- Participation in quality alliances, and building good neighborly relations with other countries. And accordingly not to participate in dubious alliances, and the absence of interconnection with rogue countries and countries with criminal regimes.
- Legislation focused on the development of private business.
- Real fight against corruption and its minimization
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
A country's economic condition is strengthened only when the country's natural resources and man-made resources grow greatly in that country. No matter how productive a country is, the economic condition of that country will not be good unless it is able to utilize its man power properly. But the economic condition of my country Bangladesh is so bad that no matter how productive the economy is in my country, no matter how advanced the manpower of my country is, the political condition of my country is not good at all. Bad language that is not in a state to express.
I basically think that if the political context of a country is good and if there is less corruption in that country, if that country does not have manpower then that country must achieve economic prosperity and solvency in one way or another. Even though our country has 100% manpower positive we are one of the least developed low income countries in the world only because of political instability.
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What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they is rich in oil and natural gases.
Ideally, natural resources can boost a country's economy since they can bring prosperity to a country by attracting investors thereby paving the way for citizens to work and improve the economy but in Nigeria, our natural resources have not brought about prosperity in the country. Sadly, we export our natural resources to different countries and these countries will process the natural resources and then we import the finished product at a higher cost.
So, basing my argument on Nigeria, I disagree with you that natural resources are the main factor that can boost a country's economy. Natural resources cannot harness itself and bring prosperity to a country but rather policies in place as mentioned by the OP are what matters. Whether natural resources become a cause or a blessing to a country depends on government policies regarding its importation and exportation or how it can be harnessed locally to boost the country's economy.
That's unfortunate. If the government of Nigeria only knows how and what correct policy to implement, importing it to other countries will not be the only option to sustain the economy of the country. What the government needs in your country is to give more attention and invest in those natural resources to make it grow and be one to be the biggest possible sources of income to boost the economy.
But we cannot remove the fact that in some other countries, the same as stated above, the government is making use of their natural resources for the better of their country's economic status. It can be the main factor or not, mainly depending on the governance of different countries.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
Micro, small and medium enterprises are the main drivers and pillars of the economy in Indonesia, and these MSMEs have proven to be resilient in facing the Covid pandemic. This is because MSMEs produce consumer goods and services that are close to people's needs. MSME business actors generally utilize local resources, whether for human resources, capital, raw materials, and equipment and do not use imported raw materials and finally MSMEs do not rely on capital from the banking sector, so they are not affected by interest rates or dollar fluctuations.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In my opinion, a positive thing that can be seen as progress in a country's economy is when the unemployment rate decreases and the level of people's purchasing power increases. And the characteristics of a country's economy declining are when people's purchasing power decreases. Usually the increase in people's purchasing power is also marked by an increase in the number of small businesses and the emergence of private companies owned by local communities that can absorb more workers in the surrounding area. Export and import do play an important role too, but that's at an advanced level.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In my opinion, a positive thing that can be seen as progress in a country's economy is when the unemployment rate decreases and the level of people's purchasing power increases. And the characteristics of a country's economy declining are when people's purchasing power decreases. Usually the increase in people's purchasing power is also marked by an increase in the number of small businesses and the emergence of private companies owned by local communities that can absorb more workers in the surrounding area. Export and import do play an important role too, but that's at an advanced level.
Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
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I would say the industry level of the country and young people. Besides, a high level of consumer is necessary to activate the economy.
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I would say the industry level of the country and young people. Besides, a high level of consumer is necessary to activate the economy.
Here in my country, we send people abroad to work and then these workers send money back home and that has huge impact in our economy. I just forgot the exact term for that but that is one factor that boosts our country's economy.
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It is as simple as that to say infrastructures produces economy revenues and also attracts foreign investors including cooperative affairs.
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What do you think is the main factor that affects a country's economy positively today?
The major thing that will boost the economy of a country is good leadership. When you have good leaders in the country they will enact good economy policies, that will cause the economy of the country to be strengthen and grow stronger. So the major criteria,for economy of the country to grow is good leadership. That's my opinion.
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It is as simple as that to say infrastructures produces economy revenues and also attracts foreign investors including cooperative affairs.
True but that if there were no anomalies or corruption happening in a specific country. Taxes and investments will fall just because of unstable economy caused by the mismanagement of politicians and foreign investments will no longer give a try due to the fact that there is an economic instability and conflicts.
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Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value. A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
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Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value. A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
Yeah exactly that is actually had happened here in my country a lot of corrupt politicians I think majority of them has anomalies. Our country is rish in natural resources but we are having a hard time extracting and processing it to the final product so that's where we rely on other country's high technology which will also be having shares from the profit of extracted mineral. This actually a never ending problem if we are talking about politics which controls the entire country including those resources.
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Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value. A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
Yeah exactly that is actually had happened here in my country a lot of corrupt politicians I think majority of them has anomalies. Our country is rish in natural resources but we are having a hard time extracting and processing it to the final product so that's where we rely on other country's high technology which will also be having shares from the profit of extracted mineral. This actually a never ending problem if we are talking about politics which controls the entire country including those resources.
The problem of corruption elevated to the status of power, through the construction of an oligarchic system of power sharing, is also well known in my country ... I am ashamed and unpleasant, but it is true. But I have to note that the population of my country's "patience broke" at the end of 2013, and the oligarchic-corrupt government was destroyed. No, I will not make up a fairy tale that such a model of power was completely destroyed, but there are still elements of it. But if no action is taken, after some time the power in the country will become absolute, total, and it will no longer have the slightest interest in the population. And we can observe many such examples. It should be added - having TOTAL power, local "gods" do not think about the efficiency of the economy, they are interested only in money. The disenfranchised population will extract resources for pennies, the authorities will sell it at their discretion, and 99% of the income will remain in their pockets. And the population will be told about "external enemies", "world conspiracy", "insidious capitalists", etc. "fairy tales". Therefore, we must realize that the population of the country is the power. Presidents, ministers, deputies are hired managers, hired by the population of the country and paid by the population of the country. And the population of the country, as an employer, should manage these "hired personnel" but not vice versa.
And hired managers should offer solutions to increase efficiency:
- economy and industry
- social, domestic and foreign policy
- defense
etc.
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These days there are various factors that aid to the economic development of a country. Good political relationship with Western countries are very important for economic growth. If a country is to grow consistently then it has to have long term plan; moreover political stability is also very important.
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These days there are various factors that aid to the economic development of a country. Good political relationship with Western countries are very important for economic growth. If a country is to grow consistently then it has to have long term plan; moreover political stability is also very important.
LOL Yeah, I guess a strategic relationship with the West is also a big factor. If a countries' political leader is not aligned with them, expect various accusations thrown at him/her and, of course, economic sanctions. Destabilization is also like a common practice among developed countries to force their way in developing countries.
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What do you think is the main factor that affects a country's economy positively today?
A country that invests massively in human capital development will definitely see the reward in their economy, as productivity will generally be on the rise. With developed infrastructure and people whose mental development does not match those infrastructures, the economy will not progress because productivity will not be at its maximum.
Human capital development is the most important to me.
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What do you think is the main factor that affects a country's economy positively today?
A country that invests massively in human capital development will definitely see the reward in their economy, as productivity will generally be on the rise. With developed infrastructure and people whose mental development does not match those infrastructures, the economy will not progress because productivity will not be at its maximum.
Human capital development is the most important to me.
Agree. This is what makes my country's economy keep going because of it. We all know that human capital can be domestic and abroad so yeah really has huge impact. But here in my country mostly skilled and professionals prefer to work abroad to maximize and took advantage of other country's technology, salary rate and the level of experience.
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What do you think is the main factor that affects a country's economy positively today?
A country that invests massively in human capital development will definitely see the reward in their economy, as productivity will generally be on the rise. With developed infrastructure and people whose mental development does not match those infrastructures, the economy will not progress because productivity will not be at its maximum.
Human capital development is the most important to me.
Agree. This is what makes my country's economy keep going because of it. We all know that human capital can be domestic and abroad so yeah really has huge impact. But here in my country mostly skilled and professionals prefer to work abroad to maximize and took advantage of other country's technology, salary rate and the level of experience.
Perhaps my words will be perceived as cynicism, but.... people are. no offense, just a resource. And what I agree with is that a highly educated and developed population is a better resource than a population that is degraded, uneducated, and primitive.
A developed population means the development of technology, it means higher production efficiency, it means the formation of higher added value, it means a wealthier population, it means a better consumption community - all this creates a living, developing economy.
And as you understand - a poor, poorly educated, manipulated, for example, by religious fanatics, society cannot be effective, because of its backwardness, global, comprehensive backwardness and degradation.
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Lets look at it from a different perspective as regardless of the government of a country diversifying her country's economy into different areas, they will still not yield a positive outcome if the government is been occupied by corrupt individuals. If you have studied the economy of most Africa country you can easily observed this statement above been very accurate.
The issue isn't that the countries aren't diversifying and investing into different sections of her economy but the corrupt politicians (only interested in enriching themselves) aren't ready for the progress of the country's conomy so as to keep the masses in poverty in other to win their votes when the next election approaches.
What brings the economy of a country down mostly have to do with the government of the day, as when the government lacks innovative minds in her cabinet to contribute ideas on how to improve the economy of her country, it bring the economy down. When corrupt politicians are withholding development so as to favour their selfish interest, it bring the economy down. I could go on and on but the point I'm trying to make is the economy of a country totally depends on the government as even the private sector tends to benefits when the government passes laws that encourages friendly environment for entrepreneurs to build on the workforce of a country.
So in all the government is the only reason a country economy will grow with a bad government the economy of a country will fall.
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The only thing that can help grow the economy of any country is there government. When there government don't support development the country will never grow but if the government support development the country will grow and there economy will grow rapidly.
So in all the government of a nation is the major reason why the nation's economy will grow.
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The leaders are part of the constituents that contributes to the growth and development of a country's economy, then individuals as well have their own personal roles and participation in making up the whole economic running's and activities, these will both help to have the two of the category working towards the nations building and there will be an increased productivity in that country, the people will be employed and employable and there will be a reduced poverty level.
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A country's economy can be influenced by factors such as the level of employment among its citizens and the consumption of what it produces rather than what it imports from other countries. We can say that they produced their goods and continue to export them.
Another point is that they try to support or lend loans to their citizens who want to start a new business or have a technological innovation.
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Government policies, population growth, increased GDP and good leadership will all constitutes to what makes a country move forward in other for us to have better and increasing opportunities for the people living in it,we also have to go dip more in thinking on self employment, in situations whereby many people are not depending much on the government before they can make survival for a living.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
the goodness of each government?
the people learning how to not depend in their government?
either way? its theirs to tell.
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Industrialization is what boost a countrys economy. Its what China did to make their country prosper and with the hwlp of their population growth, it boost further.
The country invested in some other parts of the world too by going to Africa where labor is more cheaper than them and where resources are abundant. But most important for a country to economy is trading partners with the whole world.
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First would be security because an investor would not want to splash out money on an area where it's infested by bandits and terrorist. The second would be friendly economic policies that would entice outside investors. Tax breaks and less Government interference are ideal. You also have cheaper labor costs.
You are absolutely correct, insecurity can cause or put fear in most investors lives which can make them be unable to do things or help others because of the fear of being kidnapped or harass in any way but where there is a good security can make them to help the government or the people by creating opportunities for the people either Job opportunities or given them the opportunity to acquire skills etc.
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The only thing that can help grow the economy of any country is there government. When there government don't support development the country will never grow but if the government support development the country will grow and there economy will grow rapidly.
So in all the government of a nation is the major reason why the nation's economy will grow.
Yes you told perfect government is main responsible for boost any countries development. Because government can creat job opportunities for his people. Food security, Receident, electricity, treatment all are in grip of government. So government is main responsible for all things for a nation and Deserving of credit of all good.
Of government want then also economic growth will increase rapidly and if government were careless about it then people were. affected
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What do you think is the main factor that affects a country's economy positively today?
A country that invests massively in human capital development will definitely see the reward in their economy, as productivity will generally be on the rise. With developed infrastructure and people whose mental development does not match those infrastructures, the economy will not progress because productivity will not be at its maximum.
Human capital development is the most important to me.
Agree. This is what makes my country's economy keep going because of it. We all know that human capital can be domestic and abroad so yeah really has huge impact. But here in my country mostly skilled and professionals prefer to work abroad to maximize and took advantage of other country's technology, salary rate and the level of experience.
Perhaps my words will be perceived as cynicism, but.... people are. no offense, just a resource. And what I agree with is that a highly educated and developed population is a better resource than a population that is degraded, uneducated, and primitive.
A developed population means the development of technology, it means higher production efficiency, it means the formation of higher added value, it means a wealthier population, it means a better consumption community - all this creates a living, developing economy.
And as you understand - a poor, poorly educated, manipulated, for example, by religious fanatics, society cannot be effective, because of its backwardness, global, comprehensive backwardness and degradation.
Very well said. I and we as the people feel not offended by these factors because that is what is truely is happening not only in my country but also in other third world countries around the world and I agree that people alone won't makes any sense unless they have enough knowledge and skills to better understand how economic growth works and can easily find solutions to problems that can be found along the country's path to prosperity before it can be called a highly developed country but yeah it takes time to do this thing unless people are cooperative, dedicated, willing to learn new ideas and of course execute the acquired knowledge and skill effectively. Here in my country based on my observation we people has no choice but to do those things for our family and loved ones and at the same time it also helps the economic growth of our country I think it contributes like more or less 10% of the total GDP.
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There is a need also for foreign influence on ones economy because it will make what we do go on a globalization level and attract for more international interest on it, but this have to be done with an understanding without leaving the local economy behind and under developed, we have to balance the two and create opportunities for everyone to fit in on either of the two for their sustainability as citizens of the country.
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There is only one thing that needs to be answered here and what is that?
GOOD GOVERNANCE"
because if there is a good government for sure there are no corruption , there will always room for improvement and of course they will always priority the benefits of the people and not just their own pocket.
that is what makes one economy growing and boosted .
There is a need also for foreign influence on ones economy because it will make what we do go on a globalization level and attract for more international interest on it, but this have to be done with an understanding without leaving the local economy behind and under developed, we have to balance the two and create opportunities for everyone to fit in on either of the two for their sustainability as citizens of the country.
yeah tourism same as the businesses brings from Foreign investors .
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The only thing that can help grow the economy of any country is there government. When there government don't support development the country will never grow but if the government support development the country will grow and there economy will grow rapidly.
So in all the government of a nation is the major reason why the nation's economy will grow.
Tell me - who is the “government” ? Aren't these the people we elect and trust as professionals to run the country?! While paying for their work with our own labor, or rather with TAXES?
We elect them, we trust them, we pay them...and then we are to blame.... THEY ! “Not us” who allowed themselves to be manipulated on election programs ! :)
WE elect THEM, we put them in power, .... and then we suffer because we chose the wrong people for the country and the people ! And until we realize this - we will suffer, need, and be dissatisfied with the “government” :)
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The only thing that can help grow the economy of any country is there government. When there government don't support development the country will never grow but if the government support development the country will grow and there economy will grow rapidly.
So in all the government of a nation is the major reason why the nation's economy will grow.
Tell me - who is the “government” ? Aren't these the people we elect and trust as professionals to run the country?! While paying for their work with our own labor, or rather with TAXES?
We elect them, we trust them, we pay them...and then we are to blame.... THEY ! “Not us” who allowed themselves to be manipulated on election programs ! :)
WE elect THEM, we put them in power, .... and then we suffer because we chose the wrong people for the country and the people ! And until we realize this - we will suffer, need, and be dissatisfied with the “government” :)
As much as this can be considered a valid argument, we also need to realize that, as the electorate, we are not entirely innocent in what our government does. There is a popular process of determining our leaders and hence we must ensure they are held responsible for their actions. However, one must also realize that the interaction between the citizens of a country and their government is multifaceted and has various attributes.
Well said; we give taxes to fund the work of the government and therefore expect the government officials to work for our benefit. However, as you noted from your premise, people also have a responsibility to demand and influence change from the government.
Thus, by being informed, engaged, and critical thinkers can make the right decision in the ballots and can also be able to call the strips of the leaders to account for their decisions. Democracy is a slow, long and lengthy process that always needs active participation from the citizens for the voting duties.
You said it all “WE elect THEM, we put them in power, .. .. . and then we suffer because we chose wrong people for the country and the people!” It is a rallying for citizens to come and seize their responsibility when it comes to the government and holding their leaders to their word.
These are the effects people may have to experience as long as they remain ignorant about the role that every person and community as a whole plays as the government is formed. Yet by taking up this responsibility and putting ourselves into exercising the right to vote, we can bring about a change and shape a better society that is free from prejudice.
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The only thing that can help grow the economy of any country is there government. When there government don't support development the country will never grow but if the government support development the country will grow and there economy will grow rapidly.
So in all the government of a nation is the major reason why the nation's economy will grow.
Tell me - who is the “government” ? Aren't these the people we elect and trust as professionals to run the country?! While paying for their work with our own labor, or rather with TAXES?
We elect them, we trust them, we pay them...and then we are to blame.... THEY ! “Not us” who allowed themselves to be manipulated on election programs ! :)
WE elect THEM, we put them in power, .... and then we suffer because we chose the wrong people for the country and the people ! And until we realize this - we will suffer, need, and be dissatisfied with the “government” :)
As much as this can be considered a valid argument, we also need to realize that, as the electorate, we are not entirely innocent in what our government does. There is a popular process of determining our leaders and hence we must ensure they are held responsible for their actions. However, one must also realize that the interaction between the citizens of a country and their government is multifaceted and has various attributes.
Well said; we give taxes to fund the work of the government and therefore expect the government officials to work for our benefit. However, as you noted from your premise, people also have a responsibility to demand and influence change from the government.
Thus, by being informed, engaged, and critical thinkers can make the right decision in the ballots and can also be able to call the strips of the leaders to account for their decisions. Democracy is a slow, long and lengthy process that always needs active participation from the citizens for the voting duties.
You said it all “WE elect THEM, we put them in power, .. .. . and then we suffer because we chose wrong people for the country and the people!” It is a rallying for citizens to come and seize their responsibility when it comes to the government and holding their leaders to their word.
These are the effects people may have to experience as long as they remain ignorant about the role that every person and community as a whole plays as the government is formed. Yet by taking up this responsibility and putting ourselves into exercising the right to vote, we can bring about a change and shape a better society that is free from prejudice.
The problem of the electorate, or rather its stupidity and subsequent cowardice, exists in many countries. And the “quality” of the electorate is always diametrically opposed to the level of life in the country and the observance of rights. As practice shows, the electoral masses first allow themselves to be deceived, and then do everything to justify their stupidity or venality. And they do it regularly in the hope that the next .../deputy/president will not deceive them. Although after the first deception, they should have started to use their brains, to study what their elected representatives are, and if they have already been elected, they should go and demand their elected representatives to fulfill their promises.... But... that takes a working brain and some courage.
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The problem of the electorate, or rather its stupidity and subsequent cowardice, exists in many countries. And the “quality” of the electorate is always diametrically opposed to the level of life in the country and the observance of rights. As practice shows, the electoral masses first allow themselves to be deceived, and then do everything to justify their stupidity or venality. And they do it regularly in the hope that the next .../deputy/president will not deceive them. Although after the first deception, they should have started to use their brains, to study what their elected representatives are, and if they have already been elected, they should go and demand their elected representatives to fulfill their promises.... But... that takes a working brain and some courage.
I wish it were easy to detect which politicians are actually showing true honesty and which is being deceptive. It's no longer news that every politicians share the same agenda but employs different strategies. How exactly are you gonna be able to discern which politicians is gonna stick to what they promised the masses during their campaigns and propaganda.
Sometimes we can't always blame the electorate, because all their representatives are often the same and have the same motive, so the electorate are left woth the choice of choosing between 2 wrong choices.
I bumped into the image below on the net earlier today and thankfully I saved the photo like I knew i was gonna be talking about something related to it later on.
(https://talkimg.com/images/2024/07/21/4s5eI.jpeg)
This image better explains what I'm trying to say.
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The problem of the electorate, or rather its stupidity and subsequent cowardice, exists in many countries. And the “quality” of the electorate is always diametrically opposed to the level of life in the country and the observance of rights. As practice shows, the electoral masses first allow themselves to be deceived, and then do everything to justify their stupidity or venality. And they do it regularly in the hope that the next .../deputy/president will not deceive them. Although after the first deception, they should have started to use their brains, to study what their elected representatives are, and if they have already been elected, they should go and demand their elected representatives to fulfill their promises.... But... that takes a working brain and some courage.
I wish it were easy to detect which politicians are actually showing true honesty and which is being deceptive. It's no longer news that every politicians share the same agenda but employs different strategies. How exactly are you gonna be able to discern which politicians is gonna stick to what they promised the masses during their campaigns and propaganda.
Sometimes we can't always blame the electorate, because all their representatives are often the same and have the same motive, so the electorate are left woth the choice of choosing between 2 wrong choices.
I bumped into the image below on the net earlier today and thankfully I saved the photo like I knew i was gonna be talking about something related to it later on.
(https://talkimg.com/images/2024/07/21/4s5eI.jpeg)
This image better explains what I'm trying to say.
I absolutely agree that there are no mechanisms for a preliminary method that is guaranteed to tell us whether a politician is lying or truthful. Yes, it is possible to run them through a lie detector, but this is also a controversial situation.
I adhere to the concept that a person's work should be evaluated not by his words or fatigue, but by the results of his actions. Similarly with politicians - if, for example, a politician promised to build a hospital in a village, whose voters vote for the politician, and then does not take any action - his voters have the right to come to him and demand that he fulfill his promises. However, there may be a problem here - poor legal framework and corruption, which will not allow to force a dishonest politician to fulfill his obligations
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For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
it is up to the government to make sure that exports are maximized if your country has full of resources then you do not need to import so it shall be minimized or taken out all together
What do you think is the main factor that affects a country's economy positively today?
tourism i would say creative promotion of the country and taking care of tourist spots would help boost the economy i believe investing money in beautifying and cleaning some places in the country can do us good
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Of course the best point is that the main products of development are imports and exports. The more developed the country is in terms of imports and exports, the stronger the economic structure of the country. As a result of a country economic misdirection, the rise in domestic commodity prices, business slowdown, unemployment, etc to have been seen as a deep blow to them. A country government has many roles to play in economic development, trying to support or lend money to citizens so that they can innovate technologically through new businesses. Timely export of manufactured goods and keeping good eye on employment of citizens.
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The government of a country has a lot to contribute towards the continuity of the economy, this have to sole depends on a continuous implementation, the local economy has to be what they will recognized and also make every efforts towards booting it, this will help achieved an increasing economic activities and production of human labour and capital, there will also be a reduced rate of poverty when there is enough positions whereby the people can fit in with.
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Off course government policies play a role in helping a countries economic base but if we are looking at factors that makes a country Economy grow then we should be talking about production. Any Economy that is not producing will bot develop as they will become consumer helping other countries improve on their foreign exchange rate. So any country that wants to grow economically then that country needs to be a producing economy
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Well there are many factors that can boost an economy. Just like you said every country has their natural resources that boost their economy, like the Arab countries that has enough oil and uses it right and half of the citizens of these Arab countries are millionaires and billionaires respectively.
The government can also play a wonderful role in the growth of the economy e.g, before china became successful in their economy they had to make sure the country focuses on export more than the way they import other countries goods and also made way for foreigners to do business in the country. They had large scale investments
https://www.google.com/search?q=the+cause+of+the+rise+of+china+economy&oq=the+cause+of+the+rise+of+china+economy+&gs_lcrp=EgZjaHJvbWUyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRifBTIHCAMQIRifBTIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBTIHCAcQIRifBTIHCAgQIRifBTIHCAkQIRifBTIHCAoQIRifBTIKCAsQABiABBiiBDIKCAwQABiiBBiJBdIBCTIyNjY2ajBqNKgCDrACAQ&client=ms-android-transsion&sourceid=chrome-mobile&ie=UTF-8
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Well there are many factors that can boost an economy. Just like you said every country has their natural resources that boost their economy, like the Arab countries that has enough oil and uses it right and half of the citizens of these Arab countries are millionaires and billionaires respectively.
The government can also play a wonderful role in the growth of the economy e.g, before china became successful in their economy they had to make sure the country focuses on export more than the way they import other countries goods and also made way for foreigners to do business in the country. They had large scale investments
https://www.google.com/search?q=the+cause+of+the+rise+of+china+economy&oq=the+cause+of+the+rise+of+china+economy+&gs_lcrp=EgZjaHJvbWUyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRifBTIHCAMQIRifBTIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBTIHCAcQIRifBTIHCAgQIRifBTIHCAkQIRifBTIHCAoQIRifBTIKCAsQABiABBiiBDIKCAwQABiiBBiJBdIBCTIyNjY2ajBqNKgCDrACAQ&client=ms-android-transsion&sourceid=chrome-mobile&ie=UTF-8
True. It's more than just government policies that will lift the economy of a country. India and China seem to be heading up with their population making their economy in good shape.
The resources of the country though is more important when it comes to industrialization. This is why even a big economic power depends on gas and oil to lower up their lines.
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The government of a country has a lot to contribute towards the continuity of the economy, this have to sole depends on a continuous implementation, the local economy has to be what they will recognized and also make every efforts towards booting it, this will help achieved an increasing economic activities and production of human labour and capital, there will also be a reduced rate of poverty when there is enough positions whereby the people can fit in with.
Yeah right. And the most important thing is that the government must contain people who really understand the potential of the country they manage. Both the potential of natural resources and also the potential of human resources. Both must be utilized properly for the benefit of the people of the country and for the sake of more advanced development for the country. And the most important factor is that there must be a leader who prioritizes the interests of his people rather than his own interests.
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First would be security because an investor would not want to splash out money on an area where it's infested by bandits and terrorist. The second would be friendly economic policies that would entice outside investors.
Having a good security and policies that the government make is key but the fact of the matter is that when it comes to boasting of a nation's economy we should be talking about productive Economy, an economy that produces will attract direct foreign investment as that is the only way that the leading Economies of the world did because productive activities is the way forward as it create jobs and make the economy to be in a good shape. Any nation that is serious about it economic growth and development should make it a priority to set up industries that will be producing as any nation that doesn't produce will be economically impoverished because Economic growth and development is centered around how a nation produce and export to other nations .
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The government of a country has a lot to contribute towards the continuity of the economy, this have to sole depends on a continuous implementation, the local economy has to be what they will recognized and also make every efforts towards booting it, this will help achieved an increasing economic activities and production of human labour and capital, there will also be a reduced rate of poverty when there is enough positions whereby the people can fit in with.
Yeah right. And the most important thing is that the government must contain people who really understand the potential of the country they manage. Both the potential of natural resources and also the potential of human resources. Both must be utilized properly for the benefit of the people of the country and for the sake of more advanced development for the country. And the most important factor is that there must be a leader who prioritizes the interests of his people rather than his own interests.
I agree. If that will happen it will attract foreign investors because they can see stability and the support of governments to their people which will lead to a much more safer environment and best progress in the economy which we all wanted.
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Some of the things that boosts an economy are.
Export
Consumption of local made products
The government
I don't even see import as a major factors that boosts an economy, it is export because when you export your goods you receive especially now that dollar is very high in the exchange market when you export you are planning to receive more profit. But import when you import you sell costly to balance what you spent in importing the goods and that's another hike in price of goods.
Then when a country basically focus on consumption of local goods it's a very high factor to boosting your economy
The government can also play a very good role in the development of a country's economy it's just as simple as a spoken word. Erecting companies and providing good tools for work.
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The government of a country has a lot to contribute towards the continuity of the economy, this have to sole depends on a continuous implementation, the local economy has to be what they will recognized and also make every efforts towards booting it, this will help achieved an increasing economic activities and production of human labour and capital, there will also be a reduced rate of poverty when there is enough positions whereby the people can fit in with.
Yes, the government plays a major role in keeping the country's economy strong. for me they should focus on helping local businesses grow and create more job opportunities for the people By using local resources, they can make the economy more self-reliant and less dependent on other countries. Plus, supporting local businesses means more money stays in the country, which helps everyone in the long run.
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The government of a country has a lot to contribute towards the continuity of the economy, this have to sole depends on a continuous implementation, the local economy has to be what they will recognized and also make every efforts towards booting it, this will help achieved an increasing economic activities and production of human labour and capital, there will also be a reduced rate of poverty when there is enough positions whereby the people can fit in with.
Yes, the government plays a major role in keeping the country's economy strong. for me they should focus on helping local businesses grow and create more job opportunities for the people By using local resources, they can make the economy more self-reliant and less dependent on other countries. Plus, supporting local businesses means more money stays in the country, which helps everyone in the long run.
governments always has something to do with the economy, its always their policy that will keep it running. even the policies in crypto would be able to help the economy which is why they are regulating it.
they foreseen the caveat when US outsourced their factories to China because their labor fee is too high. this is also the reason why Trump is so keen in bringing back the jobs in US soil. bringing those companies back to US means more jobs again and the products are from US too which means they will once again have manufacturing in their country.
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Quality Education is good for the citizens too, but how does it contributes to the economy?
There are several factors that contribute to the development of the economy today i.e education, entrepreneurship, healthcare, technologies, natural resources and so on. They collectively contribute to the economic growth, expansion, development and well-being.
A good and quality education can also contribute greatly to the economic growth and workforce development is the process of improving the skills, knowledge and productivity throughout a community workforce to meet the needs of the economy and organization. Education enables workers to manage digital evolution or digitalization.
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First would be security because an investor would not want to splash out money on an area where it's infested by bandits and terrorist. The second would be friendly economic policies that would entice outside investors. Tax breaks and less Government interference are ideal. You also have cheaper labor costs.
security is good but I think what really makes a country Economy to be strong is it ability to produce things and become self sufficient, that is the way out of Economic problem in any country because you can't be talking about Economy with out talking about self sufficiency because it has a link to sustainable economic growth of any country, when a country has attained self sufficiency it will affect the price of goods and services in that country as it will make the price of goods and services in the market which will be good for the economy also it's when a country has gotten self sufficiency that they can be talking about exporting to other countries which will also bring foreign exchange to the revenue base of any country, so what really boost the economy of a country is production of goods and services locally to meet local demand which will affect the price of essential commodities in the market
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natural and human resources where both of these are the capital of a country can be said to be advanced
if a country has potential wealth then anything can be used for economic progress especially if it has oil, gas, and fertile agriculture
so too its human resources, if they have capable abilities then why bring in employees from foreign countries if their human resources are already good because with good humans then all natural resources can also be valuable because of the processing of humans who live in the country
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For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
government policies are key and critical to the economic strength of any country because it directly affects the economy of any country that is why citizens should be mindful of the kind of leaders that they elect into public offices to manege their Economy because how good a country Economy is could be link to the kind of policies that are been implement in the country so if you elect leaders who don't have the basics of Economic principals they will bring and implement allot of policies that will affect the country badly
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If I can add to discussion
One needs to define economic growth as it may not be understood in the same way by everyone.
In terms of plain figures, if GDP grows, economy is growing. However, the quality of life may deteriorate.
Or the distribution of wealth will be heavily disproportionate and few will benefit from growth.
Or the distribution may be too equal and noone will benefit from growth.
Classically speaking, economy grows with growth of consumption. And as consumption is sustainable demand that meets productivity you may say that: Economic growth is a function of productivity and consumption. Where productivity is a function of efficiency of labour, capital (resources) , technology (knowledge).
Consumption is a function of education, employment, demand.
I like Keynesian approach that explain economy as a virtuos circle of Consumption — Productivity — Employment and back to Consumption
During economic shocks the circle gets disrupted and that's where employees need new skills to get jobs that meet the needs of production to get salaries they can spend
And production needs to rebuild itself to produce the stuff the market will consume.
Of course, these processes are not simultaneous and the speed of transition often is a key of success.
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government policies are key and critical to the economic strength of any country because it directly affects the economy of any country that is why citizens should be mindful of the kind of leaders that they elect into public offices to manege their Economy because how good a country Economy is could be link to the kind of policies that are been implement in the country so if you elect leaders who don't have the basics of Economic principals they will bring and implement allot of policies that will affect the country badly
i believe that a country will be able to function properly with a well rounded government you must have people who knows economy people who knows law people who knows health people who knows agriculture people who knows education and these are only the key things i think a government should have at least one representative of
economic policies must be implemented with these other factors in mind and how can they be affected by said policies it is such a shame if a government is lacking at one aspect because then it is all lopsided and one sector can always affect the economy at the end
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A good and quality education can also contribute greatly to the economic growth and workforce development is the process of improving the skills, knowledge and productivity throughout a community workforce to meet the needs of the economy and organization. Education enables workers to manage digital evolution or digitalization.
I agree. Education really helps boost country's economy through human resources and of course educated people produces positive vibes and stuff in the country compared to having uneducated people that is why the governments has to focus on giving countrymen good education and discipline as it will help the country in the long run. What you sow is what you will reap so yeah better invest on something profitable and productive and that is education.
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natural and human resources where both of these are the capital of a country can be said to be advanced
if a country has potential wealth then anything can be used for economic progress especially if it has oil, gas, and fertile agriculture
so too its human resources, if they have capable abilities then why bring in employees from foreign countries if their human resources are already good because with good humans then all natural resources can also be valuable because of the processing of humans who live in the country
I have come to realize that every country focus on what they have to offer the rest of the world. If it's natural resources they have, they will go hard on such resources and makes it their main source of income and improves the production every year. Some of the countries that produced oil has other resources to sell, but they put more effort on crude oil as it's brings more money than others resources.
However, there are some countries that are smart with resource management, US doesn't has the largest oil wells and reservoirs around the world but they now control the crude oil than to boost their economy other countries that own largest reservoirs of crude.