Germany and Canada Essay
Germany and Canada; Why they are different?
The economic status of a country is determined by various factors and various measures that are compared to other countries. The economic stability of countries is measured with consideration of various elements such as the general income of the citizens, and also the productivity of various groups and organizations in the nations. The economic contributions of economic institutions such as banks, private and public financial institutions are also used to determine the position of nations’ economic status. The index heritage scale is an essential parameter in determination of a country’s economic position in comparison with other nations …show more content…
The economic status of a country has been observed to be influenced by various parties, which are with inclusion of public and private institutions and organizations that are considered to be for-profit firms. Economic institutions that contribute to the improvement or decline of the economic performance of countries include the financial institutions and organizations, the educational sectors, the agricultural organizations and institutions and more importantly the political sectors of a country. The contemporary living standards of people in a country would be impossible in situations where there are no exchanges and entrepreneurial activities that are facilitated by the market scales (Stiglitz, p. 17). The functionality of economies of countries is bound to the presence of sound capital and the rule of law among other factors such as the security of chattels rights. Research has…