Market Integration, Information Revolution, Socialism & Capitalism PDF

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Market Integration What are the effects of the information revolution in today’s market? People who sell, purchase, trade, and consume goods make up the market. Information and data may now be shared in real time thanks to theinformation revolution brought about by globalization. Asa result, news an...

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Market Integration 1. What are the effects of the information revolution in today’s market? People who sell, purchase, trade, and consume goods make up the market. Information and data may now be shared in real time thanks to the information revolution brought about by globalization. As a result, news and information are disseminated without delay. The information revolution has a significant impact on the global economy by assisting companies in sharing knowledge and adapting to new procedures that are necessary for their continued growth. Through technology, one successful person's ideas can be transmitted across the world. This is evident on social media, where successful business owners would disclose how their companies grew, as well as new ideas discovered there. This information is useful. Other people, including aspiring small company owners, are influenced by this information to understand and adapt to these methods in order to build their business. As a result of the quicker circulation of information and ideas made possible by technological improvements, the information revolution has had a huge impact on today's market, as well as on the global economy.

2. Analyze socialism and capitalism in relation to Philippine society. Which of these economic systems would work in our country? Expound your answer. Capitalism is an economic system in which private owners control production and industry, whereas Socialism is the polar opposite, in which the state or government controls a country's production and trade. In terms of Philippine society, capitalism would save the country's economy and, as an added bonus, its democracy. To begin with, capitalism provides citizens with a great deal of freedom. The Philippines' economy is largely governed by the government. Poverty is rampant, forcing many Filipinos to live apart from their family and work abroad to meet their basic requirements. There is also a high level of income inequality and thousands of illegal drug charges that primarily affect the country's underprivileged people. These occurrences demonstrate that capitalism, which

stimulates competition and individual performance, would undoubtedly save the Philippine economy. Second, by rewarding hard labor, a capitalist country fosters equitable opportunity for the rich and poor. Because the government has limited control over businesses and corporations, capitalism concentrates on individual performance. As a result, it motivates citizens to work hard in order to make a profit. Finally, capitalism fosters invention. People can now make items based on their inventions and distinctive ideas because they have more freedom in terms of goods creation. It also places a high value on competition. As a result, it encourages people to work hard in order to make a profit, as opposed to a socialist worldview in which citizens are reliant on the state, which leads to laziness and mediocre performance. Overall, capitalism would be beneficial to the Philippines since it promotes innovation and productivity, thereby improving the lives of many people. It limits the government's control over enterprises, promoting independence and hard labor. These would undoubtedly have a big economic impact in the Philippines.

3. If given a chance to create an agreement or an organization for the international market, (a) what would be the goals of that agreement/organization, and (b) who will be the member countries? Expound your answers. SEED (Skill Enhancement, Expertise, and Development) is an organization that conducts free skills development training in sewing, mining, farming, weaving, gardening, maintenance skills, landscaping, and livestock production. By providing opportunities to the world's poor people through skills training, this would help maintain and have a significant impact on the international market. They would be provided opportunities to work in various agricultural areas in their home nations after completing the skills training. As a result, the unemployment rate would be reduced, and the economy would be boosted. The member countries will be the top 20 poorest countries in terms of Gross Domestic Product: 1. Burundi 2. South Sudan 3. Malawi

4. Mozambique 5. Democratic Republic of the Congo 6. Central African Republic 7. Afghanistan 8. Madagascar 9. Sierra Leone 10. Niger 11. Eritrea 12. Chad 13. Yemen 14. Liberia 15. Togo 16. Haiti 17. Sudan 18. The Gambia 19. Buinea-Bissau 20. Burkina Faso...