The paper "Many Countries Are Currently Experiencing an Economic Downturn" is a great example of macro and microeconomics coursework. In the introduction, the essay describes how the economic downturn has affected various countries using the example of Russia. There is an increase in oil prices that has made the life of people difficult. The whole world is facing the impact of unemployment due to the economic downturn. There is a possibility of no more productions by the countries. The essay gives details related to the worst economic downturn during World War II. Here the British economy was severely affected together with the United States.
The essay gives some solutions that can be used by countries to survive in the economic downturn. In order to survive in the economic downturn, countries should make efforts to provide finances to its customers, low unemployment in the country and low-interest rates. Managers should involve employees in making decisions for the organization and help then during layoffs Managers need to set good compensation skills for employees who fail to get their dream jobs in the organization.
Employees need assistance from the manager in debt management as well as giving them a chance for more flexible time to perform other jobs to increase their earnings. The conclusion describes various effects of the economic downturn. The presence of economic downturn has lead to an increase in the responsibilities of citizens. There have been increasing prices of products that has affected the whole world. There are also solutions that managers can use to help with employees during the economic downturn. Introduction Economic downturn The economic downturn is one of the four stages that make an economic cycle.
It is a time when an economy starts leaving the boom and start moving down the cycle to the recession. The economic downturn is a situation that is faced by many countries in the world. According to Stack (2009), a country like Russia is faced by an economic downturn. This is evident in the situation that is faced by the Moscow theatre due to the cutting of the budget. It has called off the opera premier and a ballet tour of Mexico. Around the whole world, countries have been threatened by the experience of an economic downturn.
Countries like Ireland, Spain and South Africa have experienced their real estate prices going down. In addition, the collapse of U. S. automakers has brought a tremendous effect to plants in Canada, Mexico and Germany. The international monetary fund has predicted that this is the first time that the whole worldwide economy will contract. There is fear in the whole world that there will be no more new productions. Budget constraints in Russia have forced a failure in the tour to Mexico.
This is highly influenced by the increase in oil and gas prices that have risen and affected the economies of the whole world. The country had cancelled productions before because we were not satisfied with the artistic value. Productions in the theatre have been cancelled due to the financial crisis in Russia. There is uncertainty at the Bolshoi and this is a good representative of the problems that Russia is facing. This is as a result of a swift economic disorder that is hitting hard to the national standards. It is difficult for Russia to cope with the prices of oil that are going up every day and the popular Book berry bookstores are going insolvent (Stack, 2009).
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