For you and your family, what does it mean for the country to have a strong or healthy economy? What does it mean for the country to have a weak economy? What are some actions that can turn a weak economy into a strong economy?

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Simeon

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8 October, 04:04

For you and your family, what does it mean for the country to have a strong or healthy economy? What does it mean for the country to have a weak economy? What are some actions that can turn a weak economy into a strong economy?

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Mugsy · Answer 1

I think an economy is considered strong when there is an equilibrium between productivity and population growth. While a weak economy is characterized by severe recessions and high unemployment rate. When the economy is weak, the currency is weak and companies are hiring fewer people to work in their labor force.

So, in order for an economy to grow, it has local and foreign policies that prioritize economic development. There should be productivity of the work force alongside the machinery used to lessen the manual labor and no debts made.