Can you help me understand this Entrepreneurship question? For this assignment you are required to pick one individual off of this list and do some research on them. Figure out….
the economic performance of Singapore and United Kingdom overt the period 2010 – 2014
Assessment Task 1
Based on research undertaken under this assignment you will evaluate the economic performance of Singapore and United Kingdom overt the period 2010 – 2014.
- Economic growth (5 marks)
With reference to your selected economies:
- Outline the value of the Real GDP over the past 5 years 2010 – 2014.
- Identify and explain the business cycle over the period in your selected economies.
Include original graphs and tables in your answer.
- Aggregate Demand – Aggregate Supply (11 marks)
- Identify two determinants of aggregate demand and two determinants of aggregate supply that have impacted on the level of economic activity for your selected economies over the period.
- Explain the impact of these determinants on the level of economic activity and the price level. Demonstrate this on a AD-AS diagram.
- Prices and Interest rates (6 marks)
- Examine the situation of inflation over the period (e.g. consumer prices, and, if possible, GDP Deflator) for your selected economies.
- Identify the prevailing type of inflation (e.g. cost-push, demand–pull) over the last two years. Explain.
Include relevant data and graphs in your answer.
- The Labour Force (5 marks)
- Identify the changes in the workforce numbers and unemployment rate over the period.
- Identify and explain the types and causes of unemployment which have prevailed over the period.
- Exchange rate (8 marks)
You should examine:
- Comparative graphs and comments on the change in the exchange rate of the two currencies in the past two years (in relation to the US dollar).
- Identify and explain the main factors influencing movements in the exchange rate over the period.
- What impact has the movement had on the level of economic activity (RGDP) and the price level? Demonstrate this on a AD-AS diagram.
- Comparison (5 marks)
- Which of the two economies you have selected have had the better economic performance? Explain your answer.
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