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Essay / Research Paper Abstract
A 6 page paper answering 8 questions about economic scarcity. The questions require comparison of countries such as the US, Russia, Japan, Iran, Nigeria and others in terms of factor endowments of population, literacy rate, land area, GDP and other measures as reported in “The World Factbook 2002.” Includes several charts and tables. Bibliography lists 3 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSeconScarcity.rtf
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Unformatted sample text from the term paper:
2002, rank the selected countries from the highest to the lowest production possibilities. Country Total GDP 2002 United States $10,082 b Japan $3,550 b Germany $2,184 b Russia $1,270 b
Iran $456 b Argentina $391 b Singapore $106.3 b Nigeria $105.9 b Source: The World Factbook 2002 2. What factors
account for these differences in production possibilities as measured by GDP? Any blanket statement that could be made here can - should -
be immediately discredited by using one of the countries on the list as an exception. As example, one factor accounting for differences could be said to be an active,
growing economy already attuned to the needs of business. Going down the list, this statement certainly is true for the United States, Japan and Germany, but it derails at
either Russia, Iran or Nigeria. Singapore has been the "Asian tiger" for more than a decade, and Argentina has tried to assume that role in South America but has
been plagued with economic problems so intense that it has been losing foreign investment. A sound infrastructure capable of supporting business needs and
an educated workforce are two factors that organizations look for when choosing an international site. Again, certainly the countries leading the list have these, and the country at the
end of the list has them in far less degree. Singapore, however, has both, and both are well developed. Still, it trails Russia and Iran when production capability
is measured in terms of GDP. One thing that can be said about production possibilities when measured in GDP, however, is that producers
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