Have you looked into why some countries are doing great and others aren’t? A lot of people will say it is the economy of the country which is not encouraging, but what makes the economy of a country good and what puts another country’s economy at its worst state? In this post, I will be looking into what makes up the economy of a country and what keeps it going.
The economy of a country will be at its peak of productivity when the number of people who have a job is higher than those who do not have. The GDP of an economy is dependent on the total amount of money that exchanges hand over the goods transacted and this only happens when people have a steady source of income. Also, an economy is productive when the people in it are productive or what they do make them productive. Interestingly, the productivity of a country determines the wealth of that country. The skills of the population, and the proper use of technology and machinery would improve the productivity of a nation which in turn affects the economy of a nation.
Another factor that affects the growth of an economy is money. The ability to place value on goods is dependent on the price placed on labor, rent and perceived interest to cover capital expenses. Money is used to give a price to the value of goods and services and when people in a country are willing to pay the prices requested. The continuous flow of money affects the growth of a countries economy.