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The case study "A Sustainable Economic Model" states that the economic development of a nation is very well dependent on various contributory factors that work together to take the nation forward. The objective of this essay is to closely analyze these factors and to suggest an economic model. …
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This value is equal to the total of the spending by the consumer, investors and the government added with the value of the products and services exported after deducting the total value of imports. Gross Domestic Product is usually considered as a valuation of the national economic growth. It is often used to compare the economic performance to aid as a prediction tool and to analyze the business cycles and the recessive and expansive economic performances within them. This further aid economic and fiscal policy formulation of the government and is also used to analyze the consumer behavior and the economic phenomena involved. (Heakal, R. 2008).These figures can be a benchmark to compare economies of different nations and the economic prediction process is also made possible.
A usual pattern of assessing the Gross Domestic Product is to have an initial GDP report on every quarter which is an advance report. Two corrective reports follow this before the final figures on GDP are arrived at. It usually takes two months on this reporting process before a final report is formulated. It is often found that the advance reports are able to create a remarkable impact in the market. (Heakal, R. 2008). The GDP numbers are reported on two different levels, of which one is with reference to the current rate of performance of the national currency. However, this form of representation makes it difficult to analyze the current economic scenario in the country with reference to other time periods as the chances of inflation hinders this possibility. The second mode of representation more or less solves this problem as it takes into consideration a standard rate of the national currency which makes the comparison easier and it gives a proper standard of reference. These modes are termed as Real GDP and Nominal GDP respectively. In totality, Gross Domestic Product is the count of the national output and considered to give an overview of the country’s economy at a certain point in time.
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CHECK THESE SAMPLES OF A Sustainable Economic Model
Consequently, the existing infrastructure, water supplies and transport systems are strained by the new housing. Therefore, there is very little difference between this housing scheme and the ones carried out in the past. For many years now, anti-road building lobbies have been arguing that governments should cease building new roads because this will just encourage more people to travel by car, resulting in increased harmful exhaust gas emission. “Governments are taking advantage of this lobbying to cut back on spending on roads leading to deterioration of the road network” (Bleischwitz, 29). Critics are also arguing that the same logic is not applied by the government to new housing because it results in the generation of new ta...
... behind the economic progress, and secondly of strength of institutions which facilitate economic surge.
2. It fails to explain how and why technological progress occurs, the model excludes the discussion of introducing and sustaining the technological progress.
3. The Solow's Model was rejected on the grounds economic growth rate is determined outside of the model, generally by an assumed rate of technological progress and an assumed rate of labor force growth. Therefore the conclusion of Solow's model is highly unrealistic.
4. The neoclassical model was proposed another impractical approach i.e. changes in the savings rate will not affect economic growth, but will increase income levels.
The failing of Solow's Economic...
...1.3% " (UNDP). As demonstrated by these figures, consumption is a game of the rich. Increased production therefore does not in any way help to ameliorate the plight of the poor, but rather to satisfy the egos of the rich. In economic terms such a pattern is un-sustainable in the long term and will only result in a social revolution.
Since the effects of consumption drive most economies world-wide its effects are also global in nature. The ill-effects of consumerism are well-known and documented; but economic imperatives often over-ride more pragmatic considerations in attempts to move towards a sustainableeconomicmodel. Consumerism...
... authority, re-engage into serious business and inspire Starbucks partners, re-ignite company emotional attachment with the customers, expand the company global presence while making each store the heart of the local neighbourhood, remain a leader in ethical sourcing and environmental impact, create innovative growth platforms worthy of the company’s coffee, deliver a sustainableeconomicmodel to the customers.
Top management therefore cannot achieve all of this alone. They work with the employees and are there to supervise the employees meet these set objectives and these employees are rewarded through increase wages, promotions, and in-service training. Remember that performance management is all about a group of people working to meet...
...World Bank (WB) defines adjusted net saving (ANS) as gauge of economic indicator through a comparative measure of national wealth per year by evaluating changes in produced capital (through investments), natural resources utilization and diminution via extraction of minerals, the role of education for human capital and the damages caused to nature (World Bank, 2011). WB reported that ANS is used in 140 countries from 1970 to 2008 while upgraded information is yet to release this year (WB, 2011). But is ANS truly an excellent measure for sustainable development? It is in this context that this research is aimed at critically examining ANS within the empirical context of human survival that is anchored only on genuine sustainable...
... Sustainable Agribusiness Model Prior to the agrarian revolution, many societies used traditional methods for farming.Britain, for example, moved from the fallow system and adopted a mechanized system where the land was consolidated and farmed on large scale. The approach enabled production of various food crops and cash crops in large scale. Another thing that went hand in hand with the emerging agricultural practice was the use of fertilizers to improve soil fertility. Fast forward into the 21st century, not all the recommended agricultural models have been adopted. Some of the adopted practices used in agriculture were found to be productive in the short run but less effective in the long-term due to nutrients depletion (Paoletti...
...Development of Problems and Limitations of the Solow Growth Model Using Extensive Theoretical Approaches and More Extensive Application of the Theoryto the Real World
The Solow model is a growth model that is exogenous in nature. Solow (1956) recognizes it is an economic framework that focuses on long-run economic growth that is in the neoclassical economics framework. In expounding in his model, Solow (1956) explains the long-run economic growth by focusing on two major factors that contribute to growth that are factor accumulation and productivity factors. The factor accumulation entails the accumulation of capital, labor, as well as the population growth while the productivity factor entails progress...
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