Economic Issues: Factors of Production Growth and Unemployment Rates

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Economic Issues: Factors of Production Growth and Unemployment Rates

Table of Contents

Introduction
Main body
Conclusion
References

Introduction

When combined with the lack of skilled employees, inflation is likely to have dire consequences for any organization. Therefore, assessing the factors such as the rates of production growth, the selected financial systems, and the rates of unemployment is essential for determining the threat to the state economy.

Main body

The extent of production growth is typically seen as directly related to positive economic dynamics due to the rise in stock prices and the resulting increase in opportunities for effective financial performance for organizations. Similarly, the choice of a financial system defines the rates of economic development. Once the financial system becomes too convoluted, the economic development is stunted (Popkova 97). Finally, unemployment rates reduce economic growth due to the increase in economic inequality within the community. As unemployment rates increase, property values plummet, causing the degradation of the community as a whole.

The relationship described above will affect me at my workplace directly. As long as production growth rates remain high, the company will be able to provide its employees with the required benefits and rewards, which include salaries, as well as incentives. Similarly, the choice of the financial system will define how well I will be paid at my workplace since a properly manage financial system implies deploying an effective cost management technique and increased opportunities for staff members salaries.

Conclusion

Finally, the level of unemployment rates within the community will affect me at my workplace directly since it will increase competition within the target field. As a result, I will have to gain additional competitiveness, which will include new knowledge and improved skills, in order to retain my position (Haciolu and Hasan 192). Overall, the negative changes in the relationships between the factors listed above will create more complicated and challenging workplace conditions.

References

Haciolu, Ümit, and Hasan Dinçer. Global Financial Crisis and Its Ramifications on Capital Markets. Springer, 2017.

Popkova, Elena G. The Future of the Global Financial System: Downfall or Harmony. Springer, 2018.

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