blog




  • Essay / Why are some countries richer than others? - 1486

    Why are some countries richer than others? Poverty remains the biggest problem facing the world on a daily basis. Every country suffers from it to one degree or another, but some places are more affected than others. This is because the level of economic growth differs from country to country. The stronger the growth, the less room for poverty. This is the simple reason why some countries are richer than others. If countries fail to move forward, this can present many problems. Mostly unnecessary suffering for many, and generally a lower standard of living for all those trapped. It is true that growth creates its own problems such as pollution and traffic congestion, but these are acceptable trade-offs to reduce poverty levels. Governments around the world have many policies to try to improve the functioning of their economies. Governments differ in the importance they place on particular goals and in the manner in which they attempt to achieve them. The circumstances surrounding them change from time to time, focusing on certain goals that require the most influence. Economic growth is a constant priority. Governments simply need to ensure that they properly manage the resources they have to achieve this goal. Each year, a “ranking” is published showing the level of economic growth achieved by each country. The comparison is made using the gross domestic product, or GDP, of each country. An important factor to consider is the difference between actual and potential economic growth. Real economic growth increases in terms of real GDP. This increase may result from the use of previously unused resources, the reallocation of resources to more productive areas, or the improvement of existing resources. While potential economic growth is the productive capacity of the economy. For example, this can be demonstrated by the country's expected capacity to produce goods and services. This changes when there is an increase in the quantity or quality of resources. All countries have different ways of achieving this with the resources they have. It is for this reason that his party answers the question of why some countries are richer than others. It is widely accepted that the productive capacity of an economy will increase each year largely due to advances in education and technology. This will obviously differ from country to country. For example, in the United Kingdom, the quality of fertilizers could be improved, thereby increasing the annual production of fruit and vegetables..