Question

what lessons do you learn about US economy of the past 20 years

Answer 1

US economy is a highly developed mixed economy and is the largest economy in terms of GDP. The economy has developed owing to employee productivity, infrastructure development and technological innovation due to Research & Development. Few lessons which can be learned are :

• Infrastructure plays a key role in the development of any economy. Country can improve its productivity owing to infrastructure development.
• Employee productivity : Employees should utilize the resources effectively in order to contribute towards higher level of productivity.
• Research & Development : Country should spend significantly on Research & Development and thus leading to innovative products which have high demand in the world market.
• Economic Cycle : The economy of a country doesnt remain constant. It undergoes a series of business cycle. Booming phase of economy is slowly taken over by recession in the economy. During the prosperity phase, there are ample of job opportunities in the market, due to establishment of new entrepreneurial venture, high level of GDP. It doesnt remain constant and is succeeded by recession phase, where there are less number of employment opportunities, no new entrepreneurial ventures and low level of GDP.