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  • Economics Unit 4: Competitiveness

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    The document discusses factors that affect a country's competitiveness such as labor productivity, inflation rates, infrastructure levels, and business costs. It lists ways to increase competitiveness through education, infrastructure investment, privatization, currency devaluation, limiting wage growth, and flexible labor markets. The benefits of competitiveness are rising exports, current account improvements, low inflation, higher living standards, and lower unemployment. However, currency appreciation could damage economic growth and over-reliance on exports could create problems.

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    Notes For Economics

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    Competitiveness

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    The document discusses factors that affect a country's competitiveness such as labor productivity, inflation rates, infrastructure levels, and business costs. It lists ways to increase competitiveness through education, infrastructure investment, privatization, currency devaluation, limiting wage growth, and flexible labor markets. The benefits of competitiveness are rising exports, current account improvements, low inflation, higher living standards, and lower unemployment. However, currency appreciation could damage economic growth and over-reliance on exports could create problems.

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    11 views1 page

    Economics Unit 4: Competitiveness

    Uploaded by

    khai_tajol
    The document discusses factors that affect a country's competitiveness such as labor productivity, inflation rates, infrastructure levels, and business costs. It lists ways to increase competitiveness through education, infrastructure investment, privatization, currency devaluation, limiting wage growth, and flexible labor markets. The benefits of competitiveness are rising exports, current account improvements, low inflation, higher living standards, and lower unemployment. However, currency appreciation could damage economic growth and over-reliance on exports could create problems.

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    Wednesday, February 3, 2016

    Economics Unit 4
    Competitiveness

    - Labour productivity
    - Relative inflation rates
    - Levels of infrastructure
    - Cost of business
    - Exchange rate

    How to increase competitiveness


    1 Education and training
    2 Investment in infrastructure
    3 Privatisation and deregulation
    4 Devaluation
    5 Limiting wage growth
    6 Flexible labor markets

    Benefits of being Internationally Competitive


    1 Rising exports
    2 Improve current account
    3 Low inflation
    4 Higher living standard
    5 Lower unemployment

    Problems
    1 Appreciation could damage growth
    2 Economy may become too reliant on exports

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