Premium Essay

Economic Comparison

In: Business and Management

Submitted By Ginger104
Words 1870
Pages 8
Germany and Canada; Why they are different?
The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations across the world. The global economy ranking is therefore achieved after a comprehensive analysis of the economic positions of various countries, and this is with comparison of the pillars of the economy of the respective nations. Poverty, poor health and ignorance are considered to be the fundamental contributors of low index heritage scale due to their negative contributions towards the economy of a country. It is the responsibility of the government and key players in the economy of a country to ensure that the economic strategies and activities that they engage in positively help in eradication of poverty, reduction of ill health and control of unawareness among people and organizations.
This paper aims at drawing a comprehensive and evidence-based comparison between Germany and Canada. This follows the realization that Canada outranks Germany on the index heritage scale irrespective of the fact that Germany has better economy than Canada. Additionally, the recognition that Canada has better economic institutions than Germany brings forth the question of what reasons contribute to the difference, and yet Germany is considered...

Similar Documents

Premium Essay

Economic Terms Comparison

...Economic Terms Comparison HCS 552 Economic Terms Comparison The economics of health care organizations and delivery is essentially the same as other services that employ principles of economics. The main goal is to make money from specific exchanges that take place in the business. Health care organizations provide a product which, hopefully, consumers want, and possibly need and the consumer is willing to exchange something of value for the product. How the organization determines the needs of the consumer is through the understanding of trends in the community. Specifically understanding the economic terms of utilization, supply and demand, variability, and third-party transactions will enable the organization to predict with some accuracy, the consumers health care needs. Utilization is a term to describe how consumer access or use a product. In health care utilization is used to help the health care organization understand what consumer health care trends are so that the organization can, with some accuracy, predict the necessary products of health care. Utilization and prices were out of control prior to the advent of diagnosis related groups (DRG) and managed care. Managed care helped to control some of the costs of health care by controlling the price of procedures and limiting utilization by the consumers....

Words: 876 - Pages: 4

Premium Essay

Economics Gdp Comparison

...Introduction Indonesia rely its economy through various activities. The resources and commodities includes agricultural i.e. tea, coffee, beans, etc.; Mining i.e. coal, crude oil, valuable stones, etc.; Plantation i.e. palm oil, and many others. There are some tourism attraction spots that contribute in the GDP, such as Bali, Lombok, Yogyakarta, etc. Although, the maximum value of the resources have not achieved yet, the GDP of Indonesia is already top 5 in Asia. Indonesia has made a positive and stable trend in these past ten years, few reasons that caused this to happen is the stability of the political condition that in a sense favor the people more and more, which pushes job creation in many sector and decreases unemployment. Even though the currency is weakened over time but the overall living standard is boost up, this can be seen from the rise of the middle or even middle-high income population as the economy improves. Production Output Performance Analysis Real GDP (GDP Constant Prices) of Indonesia 2005-2014 For almost six years from 2005 to late 2009, real gross domestic product has been relatively the same around 500,000 billion rupiah or equivalent to 38 million US dollar. Global financial crisis on 2008 to 2009 surprisingly did not make a significant impact on the value of real GDP, as the value fell not below the previous lines. In fact shortly after, its value was rocketing more than three times in less than quarter of a year to 1,800,000 billion.......

Words: 1417 - Pages: 6

Premium Essay

Economic Comparison of South Korea and Japan

...An Economic Comparison of Japan 日本国 And South Korea 대한민국 Introduction South Korea and Japan have had a close relationship from ancient history to the present day. Because of this reason, their economic growth and development have similarities and disparate differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies. Another reason that it is natural to compare them is their economic growth has mirrored one another. Both emerged from a war with its economy devastated and its infrastructure in ruins. Both countries changed with the economic climate of the time and took advantage of foreign investment in order to rebuild. Finally, both countries used their strengths to develop their economies to the point that they are world leaders in their field. Finally, both counties enjoy close political and economic relations with the United States, with each country being among our Top 10 largest trading partners. We have been a good friend to both, which has helped to stabilize relations in the regions between the two. Brief History (Since World War 2) The Korean Peninsula was occupied by Japanese forces for 35 years, from 1910 until the end of WW2 in 1945. Due to existing agreements, Japanese forces in Northern Korea surrendered to the Soviets and those in South Korea to the United States....

Words: 2960 - Pages: 12

Premium Essay

Economic Development: a Comparison of Rostow and Gerschenkron

...“Rostow’s pattern of thought of economic development is often compared and contrasted with that of Alexander Gerschenkron, though the two are more or less compatible and complementary.” Critically discuss this statement. The theory of economic development throughout history has been of significant discussion especially in regard to the works of Rostow and Gerschenkron. The differentiation between the pattern of thoughts and ideals is a hotly debated topic within economics. The ideals the two theorists create, each substantially creditable in their own right, entail degrees of correlation and variation. Leaving the conclusion, do the to patterns of economic thought complement one another or is there distinct disparity between the two. Applied examples will be used below to analyse the extent of segregation or association between the works of Rostow and Gerschenkron. The two theories of work are mainly discussed with Asian development as it is more relevant, timely and there is significantly more information available than previous developed countries such as Great Britain. Walt Whitman Rostow developed one of the major historical models of economic growth in 1960, The Stages of Economic Growth: A non-communist manifesto. This piece portrays the process of economic development in a previously unseen approach, evidently forging it as a milestone in economic literature....

Words: 2883 - Pages: 12

Free Essay

Comparison on Economic Between Egypt and the Us

...Comparison on economic performance of Egypt and USA History/Background Egypt is the 29th biggest country in the world, covering a total area of 1,002,450 sq. km. It is a country in the Middle East which linked with the northeast Africa, on the Mediterranean Sea, at a crossroad between Africa, Asia and Europe. It is bordered to the east by the Red Sea, Palestine and Israel to the north-east, Libya to the west, and Sudan to the south. The country is divided into 4 main geological areas which is the Nile Valley and Delta, Western Desert, Eastern Desert, and Sinai Peninsula. On the other hand, United States is the 4th biggest country in the world. The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the extreme Northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major cities include New York, a global finance and culture center, and Washington, DC, the capital, both on the Atlantic Coast; Los Angeles, famed for filmmaking, on the Pacific Coast; and the Midwestern metropolis Chicago. Population The population of Egypt is estimated at 85 million as of October 2015. Egypt's population is equivalent to 1.16% of the total world population (7.3 billion people). Egypt ranks number 15 in the list of countries by population....

Words: 852 - Pages: 4

Premium Essay

Economic Comparison of South Korea and Japan

...Journal 3 In the article, “What are the chances Paul the octopus is right?” by Sarah Shenker and “Octopus Beats ‘Vampire Squid’ as Goldman Falls Short in World Cup” by Neelabh Chaturvedi, we are exposed about Paul, the octopus, forecasting accurate results for six of Germany’s World cup games. Learning about probabilities in class, we are trying how we can interpret rules and terms about probability to Paul the octopus selecting the winning team. In the BBC article, Sarah Shenker states, “[Paul] had a 1/64 chance of predicting six correct outcomes.” The author reaches the probability of 1/64 by multiplying the chances of predicting for each game. For example, in the article, Paul had a 1/2 chance of predicting the first game correctly, 1/4 chance of predicting the first two games, and 1/8 chance of predicting all the first three games. Because Paul the octopus only has 50% or 1/2 chance of predicting the winning team between the two options, we would just multiple another 50% or 1/2 to the previous game. With this example, the author multiplied 1/2 for each additional game which, resulted with the 1/64 chance for predicting all six correct outcomes. If I wanted to create my own predicting octopus for the 2019 World Cup, I would set up my “experiment,” by using the same system as Paul the Octopus, but I would add “draw” as one of the choices for the prediction. So, in the tank, I would drop two clear boxes decorated with different team flags on the front containing food......

Words: 556 - Pages: 3

Premium Essay

Economics Comparison Essay Australia and China

...Australia and China have adopted different economic systems in order to cater for the society. The Chinese and Australian economies have many similarities and differences from Australia’s market based economy to China’s planned economy. Like all economies, they both face the problem of scarcity of resources, what to produce, how much to produce, who will produce. Both of these economies have adapted to changing the world in order to allow their economies to grow and develop. These similarities and differences include the economic growth and quality of life, the environment, employment and unemployment, distribution of income and the government role. Australia and China Australia have very little similarities in terms of economic growth and quality of life. Australia is a democracy and China is a one party rule socialist party. The quality of life also comes in the size and the population of the country. Australia’s area of 7,682, 300 sq km is 80% of China’s 9,595, 960 sq km, yet its population is 22 million which is only 1.7% of China’s 1.35 billion. For Australia’s GDP per capita is $43,000 ranking 10th in the world and China’s is only $7945 which is 98th in the world. Due to the extreme difference in the density of population and per capita income. Basically there isn't a lot of similarity except the large gap between rich and poor and for a few wealthy individuals who could afford the same luxuries....

Words: 642 - Pages: 3

Premium Essay

Professor - Free Term Papers, Essays and Research Documents The Research Paper Factory * Join * Search * Browse * Saved Papers ------------------------------------------------- Top of Form Bottom of Form * Home Page » * Historical Events Economic Development: a Comparison of Rostow and Gerschenkron In: Historical Events Economic Development: a Comparison of Rostow and Gerschenkron “Rostow’s pattern of thought of economic development is often compared and contrasted with that of Alexander Gerschenkron, though the two are more or less compatible and complementary.” Critically discuss this statement. The theory of economic development throughout history has been of significant discussion especially in regard to the works of Rostow and Gerschenkron. The differentiation between the pattern of thoughts and ideals is a hotly debated topic within economics. The ideals the two theorists create, each substantially creditable in their own right, entail degrees of correlation and variation. Leaving the conclusion, do the to patterns of economic thought complement one another or is there distinct disparity between the two.   Applied examples will be used below to analyse the extent of segregation or association between the works of Rostow and Gerschenkron....

Words: 2849 - Pages: 12

Free Essay

Health Care Economics

...Health Care Economics 3 Term Comparison Paper Demand, Economics and Supply Demand When the demand is higher than the supply, then there needs to be a decrease in the demand, because the patients will not receive adequate care. Balance needs to be made between supply and demand. When it comes to diseases and supplying new shots, not everyone will receive them. There is a...

Words: 1012 - Pages: 5

Free Essay


...GLOBAL BUSINESS FINANCE ASSIGNMENT ECUADOR INTRODUCTION Ecuador officially the Republic of Ecuador which literally translates to the Republic of the Equator) is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the w It is one of only two countries in South America, along with Chile, that do not have a border with Brazil. The country also includes the Galápagos Islands in the Pacific, about 1,000 kilometers (620 mi) west of the mainland. Ecuador straddles the equator, from which it takes its name, and has an area of 283,561 km2, 109,415 sq ml. Its capital city is Quito, which was declared a World Heritage Site by UNESCO in the 1970s for having the best preserved and least altered historic center in Latin America. The country's largest city is Guayaquil. The historic center of Cuenca, the third largest city in the country, was also declared a World Heritage Site in 1999.. Ecuador is also home to a great variety of species, many of them endemic, like those of the Galápagos islands. This species diversity makes Ecuador one of the seventeen megadiverse countries in the world. Ecuador is a presidential republic and became independent in 1830, after having been part of the Spanish colonial empire and the republic of Gran Colombia. It is a medium-income country with an HDI score of 0.695 (2010),......

Words: 3664 - Pages: 15

Premium Essay

National Economy

...Version 1         General Certificate of Education (A-level) January 2013         Economics   ECON2   (Specification 2140)       Unit 2: The National Economy                                     Final                         Mark Scheme             Mark schemes are prepared by the Principal Examiner and considered, together with the relevant questions, by a panel of subject teachers. This mark scheme includes any amendments made at the standardisation events which all examiners participate in and is the scheme which was used by them in this examination. The standardisation process ensures that the mark scheme covers the candidates’ responses to questions and that every examiner understands and applies it in the same correct way. As preparation for standardisation each examiner analyses a number of candidates’ scripts: alternative answers not already covered by the mark scheme are discussed and legislated for. If, after the standardisation process, examiners encounter unusual answers which have not been raised they are required to refer these to the Principal Examiner.   It must be stressed that a mark scheme is a working document, in many cases further developed and expanded on the basis of candidates’ reactions to a particular paper....

Words: 6784 - Pages: 28

Premium Essay

To What Extent Do National Income Statistics (Gdp) Provide a Good Basis for Comparison Between Countries?

...Economics Essay – To what extent do national income statistics (GDP) provide a good basis for comparison between countries? In the world of Economics, GDP per capita is used to compare the way that countries are coping with different economic climates; such as recession, boom etc. This essay will be assessing whether GDP is the best statistic to use for comparing different countries’ economies. GDP is the most commonly used method by world famous economists to assess how successful an economy is. GDP stands for Gross Domestic Product and is the market value of the official goods that have been transferred in and out in a country over a certain period of time. GDP is a good method for comparing the national incomes of countries because it can be very accurate. This is especially the case when the GDP for a division is divided between the population of a country. This is a statistic called GDP per capita and is a lot more accurate at showing how wealthy a country is because it divides the value of the goods transferred in a country between the whole population. This is clearly a better way of measuring how wealthy a country is because it explains how rich each person is in a country. This is a better way of comparison between countries because it shows how rich the country is in terms of value per person instead of making assumptions....

Words: 726 - Pages: 3

Free Essay

Population Density

...Compare countries: economic structure. One should look at the shares of Agriculture, Industry, and Services in the overall value added of the economy. Generally, lower income countries have a larger share of agriculture and the share of services expands as they develop. Compare countries: unemployment. The unemployment rate is the standard variable used to compare countries. However, one may want...

Words: 750 - Pages: 3

Premium Essay

Value Line Publishing

...| Value Line Publishing | | Yu ZhangAlex Zurbuch | Mingle Li | | Fin 470 Oct 16, 2011 Value Line Publishing There are two leaders for retail building-supply industry: Home Depot and Lowe’s, the two companies captured more than third of the total sale of the industry. Home Depot hold 22.9% market shares of the industry and Lowe’s hold 10.8% market share. Two companies are head to head competitor but focus on different market, Home Depot focused on large metropolitan areas and Lowe’s focused on rural area. Two companies both maintained online stores. Lowe’s has its own Web site: “Accent & Style” and focused on professional customer. Home Depot developed new type of retail stores in urban area and provide products and services in a compact format. Home Depot developed its first international retailer in 1994 and 10% of Home Depot international stores were built in global area at the end of 2001. Home Depot has 1,333 stores and 256,300 employees in 2001 and Lowe’s has 744 stores and 108,317 employees in the same period time. Return on equity shows how well a company uses investment funds to generate earnings growth. Generally a return on equity between 15% and 20% are considered desirable. Home Depot’s five year returns on equity all between 15% and 20% and Lowe’s five year returns on equity mostly less than 15%. The data prove Home Depot got higher net earnings than Lowe’s. Gross margin can use to determine the value of increasing sales.......

Words: 1709 - Pages: 7

Free Essay

Gender Analysis of Academic Achievement Among Stuedenys

...Socio-economic status of boys and girls 4.5. Rural/urban comparison of study habits, self-concept and socio economic status 4.6. Gender, locale and academic achievement 5 DISCUSSION 5.1. Study habits of boys and girls 5.2. Self-concept of boys and girls 5.3. Socio economic status of boys and girls 5.4. Comparison of rural/urban students on study habits, selfconcept and socio economic status 5.5. Gender, locale and academic achievement 6 SUMMARY AND CONCLUSIONS REFERENCES APPENDIX Chapter Particulars Page No. LIST OF TABLES Table No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Title Demographic characteristic of students Demographic characteristic of Parents...

Words: 5997 - Pages: 24