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Pages:
1 page/≈275 words
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Level:
Harvard
Subject:
Mathematics & Economics
Type:
Coursework
Language:
English (U.S.)
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Topic:

The Reason America Needs Stable and Rich Economic Partners to Do Business (Coursework Sample)

Instructions:

Order instructions:
In 2-3 paragraphs, respond to the following. Your initial post should be substantive and be supported by course concepts. Your initial post is due by Wednesday to allow other students to respond.
Should we, as Americans, be concerned with the economies and standard of living of other countries? Explain your reasoning using course concepts.
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Yes, America should be concern with the economies and standard of living of other countries because standard of living is a comparative method used to characterize two separate/different geographic areas. Metrics that include issues such as income, comfort, products and needs that are accessible to people of different socio-economic groups in these areas. One thing for sure is that, no matter how great Americans think they are, it is not possible to be the best at all skills. the United States cannot simply operate on its own. If a different country has a comparative advantage, Americans should be concerned if that same country started to lose their advantage due to a decline in technology and knowledge or increase in political instability or injustice.
For instance, due to differences in climate and soil, some countries produce certain things better than the other, like American produces wheat than Brazil while Brazil does better with coffee than America in that case American will import coffee and export wheat this makes trading to move well when you let a country to produce what they best at doing. and knowing the economies is also important like China, doing business there is cheap for USA, so USA import lots of goods from there for cheap and labor is cheap also.
I think if the America knows the standard of living of others, Americans will be able to go for help/ donation to assist that country ,as we are always liberal country and if there is war too America will deploy soldiers to that country , like Afghanistan.
https://www.econlib.org/library/Topics/College/comparativeadvantage.html
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study material
https://youtu.be/u5P8AZRBLac
https://youtu.be/ol4NexZ0iII
https://youtu.be/5ITyd1Pzek0

source..
Content:


UNIT 7 DISCUSSION
by (Name)
The Name of the Class (Course)
Professor (Tutor)
The Name of the School (University)
The City and State where it is locatedThe Date
Unit 7 Discussion
As Americans, we should take an interest in the economies and standard of living of other countries because helping other nations achieve economic development and higher living standards ultimately advances our prosperity and security. The sustainable development of other countries creates a stronger world economy and more countries to trade and do business with, thereby increasing growth opportunities for our country. 

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