Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Global Shift - Reshaping the Global Economic Map in the 21st Century - Assignment Example

Comments (0) Cite this document
This paper "Global Shift - Reshaping the Global Economic Map in the 21st Century" focuses on the fact that human livelihood involves the production, distribution, and consumption of resources which is possible with economics. Economics involves the study of how scarce resources are allocated. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.2% of users find it useful
Global Shift - Reshaping the Global Economic Map in the 21st Century
Read Text Preview

Extract of sample "Global Shift - Reshaping the Global Economic Map in the 21st Century"

Download file to see previous pages The market value of an individual’s work determines one's income which dictates the consumption levels. In this system, the government role is limited and is based on individual innovation and the idea that hard work is rewarded. The businesses will thus exist to make profit and competition is the key element. The entrepreneur takes a great risk with his capital since he requires a full and free availability of information on the buyers and sellers which is not always readily available. However, they have the power to choose how they want to spend their incomes. In addition to that, the free market economic system leads to the development of monopolies and oligopolies. It influences the production and the distribution of harmful goods and services such as drugs in the economy. It also leads to social income disparities thus widening the gap between the rich and poor. As a result of the major limitations observed in the laissez-fairre system, most countries choose to conduct their affairs in a mixed economy. This type of economic system encompasses both the government and privately-owned corporates that work together to produce goods for the consumer and solve the economic problems. A mixed economy is considered to be more effective because of the involvement of the government. It is the public sector that will influence the prices of goods to go down through its control measures thus preventing inflation and protecting the consumer. Besides this, the government ensures that income is distributed equally throughout the states. This is achieved through the heavy imposition of tax on the rich than on the poor and using such money to construct social amenities throughout the country. The government is also actively involved in the prevention of monopolies by pumping money to support other competing industries as well as obtaining much money from patent owners. Prevention of entry of harmful drugs is also the key role of the government and therefore it ensures that the masses are protected at all costs. The most accepted roles of the government will include the enforcement of property rights, definition of a law system, prohibition of fraud and punishment for prohibited practices (Fernando, 2007, p.297). The state ensures that all goods produced internally are well allocated to generate investments while the private sector is mainly concerned with profit maximization. In a private sector, technology is highly applied and the revenue gained is more than that in the public sector. It may translate to failure to pay taxes or tax evasion or even the engagement in illegal acts. It is, therefore, the duty of the government to ensure that all taxes are paid and that illegality is exempted. Therefore, most states tend to concentrate on the mixed economy since in such there is a balance between the ownership of resources which translates to a balance in investments. In most and both cases, there is gain to the parties involved and the roles in both correspond and interact. Question Two Forces of demand and supply determine the price level of goods and services. The intersection of the two marks the equilibrium of both demand and supply, where the price level is determined.  ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(Global Shift - Reshaping the Global Economic Map in the 21st Century Assignment, n.d.)
Global Shift - Reshaping the Global Economic Map in the 21st Century Assignment. Retrieved from
(Global Shift - Reshaping the Global Economic Map in the 21st Century Assignment)
Global Shift - Reshaping the Global Economic Map in the 21st Century Assignment.
“Global Shift - Reshaping the Global Economic Map in the 21st Century Assignment”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Global Shift - Reshaping the Global Economic Map in the 21st Century

Global Culture on Fast Track

Lifestyles are changing fast to invite international practices. Youths in large numbers are instrumental to change to live in a free environment. They are resisting ‘no change’ attitude and fighting for the new environment where they can express freely what think right to make a modern culture. The change is undergoing automatically and being accepted by most of the resistant quarters.

Globalization does not create a common culture, values, attitude or beliefs as mentioned above. It gives way to a single arena in which people of different cultures interact and present their values for comparisons, analysis, acceptance or rejection on certain standard yardsticks. This is the internationalist version of global...
6 Pages (1500 words) Essay

The Economic Impact of the Emergence of China and India

The main macroeconomic variable that toys in the global economy’s shift are the emergence of India and China as new superpowers. This emergence certainly has a number of implications, but among the most relevant are: disruption of the equilibrium of the global economy which results in rising demand of goods, giving way to worldwide inflation; the attractiveness of outsourcing to these countries due to low cost but high talent workforce of these countries for cheaper operations.
The growing middle class of China and India results in booming demand for the automobile industry. This increase in demand, with the increasing purchasing power of these countries’ people, is not limited to automobiles but more apparent in...
10 Pages (2500 words) Assignment

The Importance of Employee Empowerment in the Global World

Empowerment is the authority to make decisions within one’s area of operation without having to get approval; from anyone else. Here the operatives are encouraged to use their initiative to do things the way they like. To this end, the employees are given not just authority but resources as well so that they not only take decisions but implement them quickly. This empowerment means giving the employees the authority to make decisions and providing them with financial resources to implement these decisions (Koch & Godden, 1997 11).
Employee participation and empowerment participation means sharing the decision making power with the lower ranks of an organization in an appropriate manner (Lashley & McGoldrick, 199...
9 Pages (2250 words) Assignment

Global Challenges for Business Management and Leadership

This section aims at understanding the challenges faced by the United Nations due to political conflicts. In the summer of 2007, an issue in the Politically Speaking, the DPA had highlighted the increased focus on the conflict meditation. This report had also highlighted the interview with the Under-Secretary-General for political affairs. In the interview, he defended the UN against all the criticism and he also highlighted the need for finding political solutions for issues around the world. The interview also highlighted the importance of results to show the effective working of the UN. This interview also highlighted and urged critics to look at the positive along with the negatives of the UN. “The UN has knowledgeable a...
7 Pages (1750 words) Research Proposal

Globalization and Protectionism in Our Century

...Globalization and Protectionism in the 21st Century Globalization is an international phenomenon with far-reaching consequences in the social, political and economic realms. Economic globalization, namely the spread of neoliberalism and capitalist-inspired consumerism as the dominant engine of economic growth, has both supporters and detractors. The world is becoming more and more interdependent and whether you think globalization is a good or bad thing, it is here to stay. Many people in developed countries argue in favor of protectionism because foreign wages are much lower and domestic producers cannot compete. The result is that jobs are lost as employment trends shift overseas. Seeking to explore the present international...
6 Pages (1500 words) Case Study

In What Ways Did 20th Century Conflicts Change the Nature of Western Introspection

The 20th century period was marked by several conflicts: World War I, the Holocaust, World War II, the exploitation of Latin American countries, Racial Segregation and the Negro Revolution which spawned the Civil Rights Movement in America and the Feminist Movement.

The Holocaust is admittedly one of the most horrific events in the history of mankind and the impact of the horrors it brought changed the way Ellie Wiesel sees his faith. While Jews are known for their orthodox and unquestioning faith in God, Wiesel’s experiences in the concentration camps of Auschwitz compelled her to question God’s existence. In Night, Wiesel tells of the unspeakable hanging of a young boy who was left dangling for thirty min...
8 Pages (2000 words) Assignment

Economic Analysis of India

The country’s economy is fast growing with a stable political system that encourages foreign investment although with certain restrictions. The country generally has good energy, transport and communication systems which make the cost of doing business affordably.

The Republic of India found South of Asia is by far the world’s most populous democracy and ranks seventh largest in terms of geographical area (Brown, 1994). India is also the second most highly populated country in the world. The country has a rich culture with four major religions having originally emerged from it; Sikhism, Buddhism, Hinduism, and Jainism. The Indian Republic consists of seven union territories and 28 states and ranks twelfth la...
8 Pages (2000 words) Case Study

International Business: World Economic Forum and Davos 2010

...Introduction Globalization, one of the most hotly debated issues means global capitalism to some while others consider it to be the continuation of modernism with the forces of wealth, progress, democracy and happiness at play (Kellner, 2002). Globalization is considered to be beneficial which promotes economic prosperity, cultural diversity and technological advancement. According to the critical social theory, technology and capital work together to create a new globalized and interconnected world. While each force of globalization is important, technological revolution has impacted the business models, value creation and differentiation (Spelman, 2010). The cloud computing technologies that have made the popular social networking...
7 Pages (1750 words) Coursework

Globalization and World Economic Forum at Davos 2010

...Globalization and World Economic Forum at Davos Forces Driving Globalization Globalization has resulted in enhanced interdependencies among thenations of unprecedented scale. This augmented interdependence has caused the dismantling of trade barriers and liberalization of markets. The forces of globalization have impacted the nations, the firms and the individuals alike with the prerequisite of liberalization of trade (Awuah, 2009). The seven forces of globalization are; Markets, Production, Culture, Labor, Technology, Environment and Liberalization. Of these factors, the globalization of markets has engaged substantial attention of the firms and the academia. Some markets are highly globalized, while some are not. The scale of market...
7 Pages (1750 words) Coursework

Global Employee Information and Consultation: Replicating the European Model

A significant step to enhancing the employees’ right to information and consultation is the establishment of the European Works Council (EWC). The EWC Directive (94/45/EC) aims to improve cooperation in transnational companies and to allow trade unions to influence, at least indirectly, the decision-making of corporations (Lockwood and Williams). It requires community-scale undertakings and community-scale groups of undertaking to create this mechanism for regular consultation of the workforce. A ‘community-scale undertaking’ is one with at least 1,000 employees within the Member States and at least 150 employees in each of at least two Member States (Lewis and Sargeant).

An EWC is a forum that would a...
9 Pages (2250 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Global Shift - Reshaping the Global Economic Map in the 21st Century for FREE!

Contact Us