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the first ingredient of an economic system is the natural resources from which goods are produced. in general, these countries have land rich in mineral resources and fertile farm soil. second, the amount of available labor helps determine the health of the economy. generally all these countries have been fortunate in having enough people to provide the labor necessary for a constantly expanding economies. the protestant work ethic supported the demand for hard work. the strong emphasis placed on education also contributed to their economic sucссess. likewise the willingness to experiment, to change and to invest in technology was significant in a land that had pride itself on being a new experiment in freedom. but the existence of abundant natural resourсes and a skillful and willing labor force ассounts for only part of an economic system structure. the resources must be directed as efficiently as possible into the areas where they will be most productive. in thе есonomies of main english-speaking countries, managers of enterprises responding to signals from market perform this function. the corporation as a voluntary association of owners known as stockholders has proved to be an effective device for accumulating funds for investment. all free market economies run in a cycle, one not so much of 'boom and bust' as of expansion and contraction. looked at over time, this rise and fall of the economies can be charged with a certain regularity devoid of a matching precision. forecasting just when they will enter a new phase, such as recession or growth, remains more art than science. now the economies of english-speaking countries stand at different stages of cycle. however, despite periodic recessions or depressions, they have continued to grow over time.

Лидуня270516    3   20.09.2019 04:56    1