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COMMAND ECONOMY OF US Business and trade plays a huge contribution in the economic aspect of the country. Business is an important organization in the US economy where production and distribution of goods and services produced are dtetermined by producers and consumers considering the market economy that they have. Food, clothing and shelter are their business that affects the trade in the country for they have many connection to different countries and its easier for them to export and import products. Because of that l, economic groos income of the country is increased and that is the better effect of business and trade in the country. On current situation world wide crisis is happening which is covid-19. Where affected a lot of aspect in the economy. Export and imports of goods are lesser causing. Lesser sales. Economic is inversely proportionally to the imported and exported goods in the country. Goverment, business entrepreneurs, and us citizens must work hand in hand to supply the peoples demand. They must prioritize the demand of the people living in the US than the other country for there to have profit despite of the pandemic. Serving their own people and supplying their demands and needs would be the prevention for decreasing economic gross income.

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THE EFFECTS OF GLOBALIZATION

By: Rejean Mae Sawit

What is meant by globalization and how has it affected you personally?

Globalization is the process of the worlds systems become increasingly interlinked. Advancements in technology has resulted in imroved transport and communucation system which has increased flows of people, capital and goods between countries globally. This has resulted in a shrinking world, a concept which suggests that the world is becoming smaller due to the increased speed of global connections. For example, today more and more people comminunicate easily with others on the other side of the world due to the development of the internet and mobile phone. As for now glolization affect us, it probably affect us in more ways than you may think. If it wasn't for globalization and the increasing number of connections between places. Personally i have been impacted by globalization as i have been able to try foods from all over the world without leaving the comport of my home.

Among the main drivers of globalization, which do you think has contributed more to the acceleration of globalization?

The drivers of globalization are the reduction of barriers to international trade, increased consumer demand,lowered costs of shipping and production, and technological advancements in communication and transportation. I believe that the main driver is consumer demand, this is because our global population is increasing at a mass rate and will continue to do so, therefore business will always need supply and thia ia ultimately what is keeping businesses and companies going as there is huge demand.

why do you think the global economy is in a constant of change? Are there consequences or benefits to such changes? Why do you think so?

Global economic status is always changing due to increase in demand, labour shortages and other side shocks, bad weather destroying crops meaning ni crops can be exported. There is always a benefit to increase demands as it means business will continue to stay up and running to try and meet those demand. Labour shortage have both as it could mean those who are in employment get higher wages it also means the supply will be much power. Covid 19 (Corana virus) rapidly affected our day to day life, businesses,disrupted the world trade and movements. Most of the countries have slowed down their manufacturing of the products the various industries and sectors are affected by the cause of the covid 19. This virus creates significant knock-on effects on the daily life of the people.