Business Economics - Assignment Example

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are the principles of equality and secondly freedom. U.S. upholds the rule of equality among its citizen with regards to services provision, the rule of law and justice. All these have contributed to a fair…
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Business Economics Question One Among the very many benefits derived from capitalist economy in U.S. are the principles of equality and secondly freedom. U.S. upholds the rule of equality among its citizen with regards to services provision, the rule of law and justice. All these have contributed to a fair society where everyone has an equal share of the available resources and are treated with dignity. Furthermore the American freedom hit the bar to be paramount and highly profound. This creates a free community in which one does what he chooses to at will and this result to individual productivity and room for self-development to constitute the national economic development at large.
Question Two
An average American and Indian live relatively different lives. This is due to fact that the population level hits more than 300 million in India. The high population rate has strained the economic and natural resources of the country to an extent that almost 30% of the India’s population live below the poverty line. Poverty remains a chronic condition in India (Zhu, 2008). The great industrialization in the U.S. has put high rate of efficient production in relation to a manageable population levels makes the living standards of the American citizens to be at par.
Question Three
Education –the change in American education system that is practical oriented is an avenue of economic prosperity as the citizens specialize in areas of best in ability and interest to hasten the production levels and efficiency in such fields rather theoretical aspects that contribute less to the general output (Cheneryet al., 2001).
Human resource expertise –this would entail experience and job specialization. The growing industrialization in the U.S. is a hub of experience gain and job specialization in creating efficacy and increased productivity among the people. Experience gained in the line of duty is resourceful to the development of the individuals.
Question Four
Consumer purchasing power (CPP) –the cost of a unit good that a dollar can purchase has a great impact on the lives of the individuals. This bundle of good that one can have in a basket would impact on his social well-being as this entails what limits to consume with the ability to afford (Arnold, 2011).
Currency stability –the economic stability of the domestic currency with respect to the dollar is impacting so much on the lives of the individuals (D’Souza, 2008). When the local currency is stable enough there is certainty in doing business and its prospects can be estimated to project on the sustainability of the project.
Arnold, R. A. (2011). Macroconomics. Mason, OH: South-Western/Cengage Learning.
Chenery, H. B., Srinivasan, T. N., Behrman, J. R., Rodrik, D., Rosenzweig, M. R., Schultz, T.
P.,& Strauss, J. (2001). Handbook of development economics. Amsterdam: North
DSouza, E. (2008). Macroeconomics. Delhi: Pearson Education.
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Zhu, D. (2008). Improving municipal solid waste management in India: A sourcebook for
policymakers and practitioners. Washington, D.C: World Bank.
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