Just imagine we are Economists.
Today, let us go into the world of Economic Development. It is something serious to talk about, but this article is made more straightforward to understand for everybody.
One time, Sam Harris quoted:
Human well-being is not a random phenomenon. It depends on many factors - ranging from genetics and neurobiology to sociology and economics. But, clearly, there are scientific truths to be known about how we can flourish in this world. Wherever we can have an impact on the well-being of others, questions of morality apply.
Without even digging deeper into economic development, I already know that its role is exceedingly vital to society. As a student, I need to understand how the world works, specifically, the government, the market, the businesses, and the people around me, as these are the real things that I should deal with, especially that I am getting older. All those mentioned above build the economy; we are all part of it. The economy comes in different aspects, and these aspects need to work all together to capacitate and improve everyone's standard of living. My knowledge takes me back to my past subjects related to this— and as far as I can remember, it is firmly concerned with the production, distribution, and consumption of products and services. Therefore, the economy is also associated with resources and how these are being allocated. Economic development, our subject, may open our minds to different systems encircling the economy and enlighten ourselves to the changes that happen in our market like inflation and such. It also centers on understanding the supply and demand and the factors affecting it. Economic development is complex; it exists not only in our country but internationally. Each country performs various strategies in facing economic issues and pursuance of growth or progress that will also help attain the goal of our global economy.
Given that economic development is intricate, I hope to learn more about the process of attaining a sustained life for each individual. I guess aiming for a well-developed economy is the same as reaching a sufficient wealth for everyone, which is enough for acquiring basic necessities.
Having that means it will serve a proof that we have a healthy economy. It will show that businesses are profitable, people are working sufficiently and effectively, resources, either enough or limited, are appropriately used, investments are going in the right direction, good leadership beside, and opportunities open up to the society.
This is an essential subject because aside from the fact that this is in line with the corporate jobs that we are aspiring to have, having sufficient knowledge could drive us to make decisions either economically or as a single individual in our society. Economic plans could either make or break economic growth. Hence, everything must be scanned and understood deeply, underlying issues must be dealt with, and all factors must be considered.
Like what has been said, we are part of society, and we should do our utmost part. Moreover, I hope that no matter how extensive economic development is, it will presented to us in the simplest form so that we’ll be able to catch the knowledge and perceive all the information needed.
We should even about economic development, knowing that your role is extremely important to society. Economic development is our theme. It can open our minds to the various systems surrounding the economy and inspire us to understand market changes such as inflation and the economy. Each country implements different strategies to solve economic problems and achieve growth or progress, which also helps achieve our global economic goals.
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