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  • Essay / Comparative Country Economy Questionnaire - 666

    As we mentioned above, one of Germany's policies is to ensure the supply of skilled workers. And as we know, skilled workers in an economy are essential for economic growth and development. With skilled workers, an economy can increase its production capacity, production rate and also produce more efficient goods and services at lower prices. This can then lead to greater international competitiveness. For example, the German car brand Mercedes can employ these skilled workers and produce cars that are more efficient, stronger, more luxurious and also have a longer life expectancy, and all this at minimum prices because resources are used efficiently. Once produced, these cars can be sold to other countries, who will see that the car is of high quality, but also low price, thus creating a higher demand which increases the exports of this car. Similarly, in the economy, these skilled workers will produce goods and services at minimal costs, with greater efficiency and with a higher rate of production. Overall, this will increase Germany's trade surplus. For Cuba, one of their policies was to open a free trade zone in Mariel. Given Cuba's trade deficit, a free trade zone can be very profitable. A free trade zone is a place where goods are imported duty-free, these goods are either entered into the general market or re-exported, or they finish semi-finished products and export them. For Cuba, these may be goods they lack, but can be finished and sold at higher prices. Or they can export Cuban goods without intervention from the authorities. These duty-free products can be sold at a lower price and in larger quantities. This could increase Cuba's exports and reduce its trade balance...to avoid division among the allies and ensure that no more wars are started. It also unified the markets of European countries and provided them with stability. All EU members must first sign a treaty that sets out the rules and procedures that all members must follow. Each EU member must follow uniform laws and policies such as free trade and freedom of movement. The EU does not belong specifically to anyone, all members have a say in how the EU is run. Currently, the EU has several functions, because its number and members have increased significantly, and along with global development, new functions have been added to the EU. EU Some of these functions include: protecting people's private data through European Data Protection. The EU also has the European Central Bank, responsible for European monetary policies...