To explain the competitive advantage some nation have due to resources available
4 Factors:
Factor Condition
Demand Condition
Firm Structure & Strategy of Company
Related and Supporting Industries
Affecting Factor:
Government
Chance
Dunning's Electric Paradigm
Use to measure firm competencies for investment
3 Factors:
Ownership
Location
Internalization
Micro vs. Marcroeconomics in short
Micro
Fast explanation of Supply and Demand
Macro
Unemployment
-1 loses a job, his income will be affected
-Many lose their job, the nation will be affected
When there is no income, there will be lesser production and consumer purchasing power.
Economy to be seen as slow growth and little spending.
Fiscal Policy
Expansionary vs Contractionary
-Government changes expenditure and tax rate to influence the country economy
For Construction Sector
-Upon Crisis, Government need to boost economy, Propose public infrastructure and transportation,
this will stimulate investment and thus more jobs opening, Increase purchasing power of the economy leading to recovery.
International Economics
The international difference in productive resources and consumer preference affects the economic activity and the international institution that affects them.
