Hello everyone! Here’s to the start of another great semester, I look forward to getting to know and talk with you all.
In response to this weeks discussion of the four methods for growing an economy I would say that the main factor responsible for growth of the U.S, China and India is through investing in technology and increasing the quality of our resources. Through investing and generating better technology we can enable better and more efficient production, now a days technology plays a huge role in aspects of production thus providing the opportunity for growth.
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Get Help Now!A second method that I tend to think is a viable option is through specialization and trade. Through specialization and trade a country can focus on producing goods to which they have an advantage of producing compared with that of other countries. The country can then go and trade those goods that they produced for goods that they don’t have an advantage in producing and it’s a win/win for each country involved in the trade because they’re getting in exchange the best product it can make for the best product the other country can make.
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