Tag: economy

Advantages and Disadvantages of a Lockdown
LAW

Advantages and Disadvantages of a Lockdown

We are simultaneously witnessing an unprecedented pandemic, loss of life and resources, a global environmental crisis, and the resultant economic downfall due to it all - and we are only halfway through with the year. The world as we knew it has ceased to exist. Closer inspection into what the ongoing coronavirus pandemic exhibits is that 2020 is the year that everything changed. The shift towards a new normal was inevitable and almost everyone has had to navigate and deal with it. And in order to limit the further spreading of the virus, lockdowns have been put in place by affected countries. So here is a quick rundown on what are the implications of a lockdown in the current backdrop of events. WHAT DOES A LOCKDOWN IMPLY? The meaning of a lockdown differs based on its context. It can b...
Advantages and Disadvantages of Privatisation
Finance and Business

Advantages and Disadvantages of Privatisation

There has been a growing demand for privatisation as well as public-private partnerships in many local and state governments. With uncertain times ahead, it is important to understand how it affects us and our economy. Here is a look at what privatisation is as well as its benefits and drawbacks. WHAT IS PRIVATISATION? The concept of privatisation does not just have one fixed meaning. It can mean different things on the basis of its context. This includes privatisation of a public sector enterprise to the private sector, outsourcing government services to private entities, or even a strictly regulated private firm becoming less organised. So it is an umbrella term giving private players a greater role in decisions about what, where, and how to produce goods and services. However, for bre...
Advantages and Disadvantages of International Trade
Business

Advantages and Disadvantages of International Trade

With the advent of globalization and technology, shipping of goods, and selling a service anywhere in the world has become very easy. This has increased competition in the international marketplace. Consequently, international trade has gained momentum with companies looking for more profits. So, let us see if it is as successful a venture as it claims. WHAT IS INTERNATIONAL TRADE? International trade means the exchange of goods, services, or capital between two or more countries. There is an export and import of goods and services. Export in international trade means selling of goods or services produced in one country to another country. An import in international trade means buying goods or services by one country that was produced by another country. In several countries, internation...
Advantages and Disadvantages of International Business
Business

Advantages and Disadvantages of International Business

Globalization has integrated national economies into a global market economy. One can even call them as a global village. As the markets expand, businesses have naturally bloomed. International business is an important part of a country's economy. But is it a sustainable model of business? So here we look at the advantages and disadvantages of international business. WHAT DOES INTERNATIONAL BUSINESS MEAN? International business is commercial activities in relation to trade of goods, services, technology, ideas, infrastructure, and resources across national borders. This occurs on a global scale between two or more countries and creates the phenomenon of globalization. These activities or cross-border transactions may include capital, skill, and people for various purposes. There are seve...
Advantages and Disadvantages of Globalisation
Technology

Advantages and Disadvantages of Globalisation

It has taken our society a long time to get to where it is. Its social, economic, cultural, and political conditions were not the same as they are right now. A lot of processes and movements have brought humanity to where it is right now. One of these processes is globalisation. It, obviously, has its own advantages and disadvantages. WHAT IS GLOBALISATION? As the name suggests, globalisation is the process of integration on a global scale. It is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. It facilitates cross-border trade in goods and services, technology, and flows of investment, people, and information. This cross-border trading le...