What does it mean when a country is economically efficient?
338537
Economically efficient basically explains itself.\nA country is this when they don't have to depend on other countries to support them 100%. They have back up plans for their economy and have a variety of ways to provide themselves with money. The political and social standpoint of it all is just saying that the government isn't sitting down in meetings everyday worrying about how they are going to give the wellfare population money when they don't have it in the first place. Hope you kinda see where I'm coming from and that this helps.
253489
GDP is the total value of goods and services produced by a nation.
146902
this will explain the economy.\nhttp://www.philipdru.com/griffin3_stream.html
529901
nice question dude \n\nwel investment are require 4 economic grow, when money ciculate in econmoy, country start developing.
1106886
probably because of government and economic differences.
494073
Interest rates in that country relative to other country's interest rates.\nInterest rate expectations in that country and other countries.\nEconomic situation in that country.\nEconomic situation expectations in that country.\nPolitical stablility in that country.
473163
Well, GDP is Gross Domestic Product meaning the worth of the nation in proportion to the number of citizens in the nation. The economy has a direct relation to the GDP because if the economy does well and continues to grow (not necessarily inflation) then the country will continually to get more money meaning that if it were spread evenly throughout the population, each person would have more and more. I hope this helps you. It's kind of hard to explain.
628911
In economics, business, and accounting, a cost is the value of inputs that have been used up to produce something, and hence are not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production.\n\nEffectiveness means the capability of, or success in, achieving a given goal. Contrary to efficiency, the focus of effectiveness is the achievement as such, not the resources spent, so anything that is effective is not necessarily efficient.\n\nAn ordinary way to distinguish between effectiveness and efficiency:\n\neffectiveness: doing the "right" things \nefficiency: doing the things "right"
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Depends on a variety of economic factors. Every country has its own reasons for fluctuations.
112191
Efficient is being able to get things done quickly. Sufficient means good enough.
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Observe the economic of your country for a while and learn from it.\nOr you could always try www.wikipedia.org
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Through:\n\nUnpractical Means:\n-our government's current method of paying of older debt with new debt. (treasury bills/bonds/notes)\n\n-inflation, printing of more currency--increasing circulation of dollars\n\nPractical Means:\n-increase exports, decrease imports\n\n-increase/decrease taxes (determined by the Laffer curve)\n\n-decrease government consumption (possibly through military cutbacks as the U.S. outspends all nations of the world combinded in military expenditures), increase national savings
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Basically what we now call nation-building.  League of Nations - global economic realities.  Love this quote:  "A progressive country would be one where the people were able to take care of themselves."
303113
ECONOMICS is primarily about the efficient use of scarce resources.\n\nCant get any simpler than this
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Resource allocation is the reason why economies exists. Suppose you are running an economy. How will you find out who to be rewarded and whom not. So the most efficient and effective is supposed to get the resources than the lazy and slumbered. Now they say if you unleash competition in the economy then this will allocate resources efficiently, meaning every one will work to get a piece of the pie. Those who don't gets jagged.\nIn the same sense when a company is run, it's resources has to be efficiently handled to get the piece of pie offered by the economy else your competitor will eat your pie too for having not done so.
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It affords them a method of growing food stuffs, either plant or animal, for their consumption or export. If the country is eccononically stable and can import cheaper food, then the agriculture becomes cosmetic or non essential eg. flowers
221420
Coming from a Latin American (Argentinian)....\n\nThe answer to that question depends on what you think is "a good economic situation".\n*If it is to be determined by the size of the economy, then Brazil has the largest GDP and one of the most thirving industrial backgrounds. It is the "largest" economy.\n*If it to be determined by GDP per Capita, then I'd say Argentina, Chile or Mexico. (The three largests GDPs per capita, nominal and PPP)\n*If it is to be determined by the living standards of its peoples (as classified in the United Nations Human Development Index), then I'd say Cuba, Argentina and Uruguay, the countries that ranked higher.\n*If it is to be determined by economic independence, then I'd say Cuba or Venezuela, the two countries that have more independence from world market movements and more immunity to crashes.\n*Finally, if its to be determined by growth rate, then Venezuela, Cuba and Argentina, since they currently have the fastest growing economies.\n\nOverall, I'd say Argentina, Brasil and Venezuela are the ones in the best economic situation, since they are promoting a strong regional integration between themselves that will strenghten their overall economic independence, their GDP's, and hopefully reduce social inequalities. (Specially in the case of Venezuela, thanks to chavez's social policies.)