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Untitled Prezi

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Lisa Smith

on 3 June 2013

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Module 5 Project Israel South Africa United States topographical map By Lisa Smith What are some geographic features of the United States that may impact production and trade? Some geographic features that impact the United States are the mountains, Pacific and Atlantic Oceans, the large cities and small towns and the neighboring countries, Canada and Mexico. Traditional, Command, Market or Mixed economy? Mixed economy Identify and explain which economist's theories you studied and more closely aligned with the United States. John Maynard Keynes can be closely associated with the development of a capitalist economy here in the United States because he believes that everyone should answer the basic economic questions of what to produce, how to produce and for whom to produce. Are there any significant events happening in the United States in regards to its economy or politics? Politics: In may 2013, the US International Revenue Service (IRS) revealed that it targeted certain conservative groups for closer scrutiny. Some members of congress had pressured the IRS to investigate the legitimacy of the tax-exempt status of some conservative organizations which took advantage of campaign activities. Ineffective management for the IRS allowed inappropriate criteria to be developed and stay in place for more than 18 months and allowed unnecessary information requests to be issued. What are the current rates of:
Unemployment
GDP per capita
EFW Index
Balance of Trade Unemployment: 7.9%
GDP per capita: $48,387
EFW Index: 76
Balance of Trade: $226.9 billion What industries are most important in the United States? Industries: Highly diversified, world leading, high-technology innovator, second largest industrial output in world; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber and mining. Which products or industries might the United States enjoy comparative advantage? agriculture products: soybeans, wheat, fruit and corn; technology; industrial supplies: oil, natural gas, and organic chemicals; capital goods: computers, motor vehicle parts, air crafts, etc; and consumer goods: automobiles and medicines Compare and contrast the economic freedoms of the United States. The United States, with an economic freedom score of 76, has lost ground again in the 2013 index. Its score is 0.3 point lower than last year, with declines in; monetary freedom, business freedom, labor freedom and fiscal freedom. The US is ranked 2nd out of three countries in the North American region, and its score remains well above the world and regional averages. Describe what trade barriers exist within the United States. Quota: sets a maximum amount of a product for import
Tariff: a tax on imported goods
Regulation: a safety and quality standard
Impact: limits consumer access to goods that are considered to be of poor quality or do not meet social expectations
Embargo "ban": the complete refusal to import a good or even all goods from a particular country Is the United States a member of any free trade zones? Yes, the United States is part of the Free Trade Agreements (FTA) with other countries What is the current rate of inflation? 3.1% topographical map What are some geographical features of Israel that may impact production of trade? Israel is bordered by Egypt, Lebanon, Jordan and Syria. The Mediterranean Sea, central mountains and the southern desert are the main land features Traditional, Command, Market or Mixed economy? Mixed Economy Identify and explain which economist's theories you studied is more closely aligned with Israel. David Ricardo can be closely associated with Israel because Ricardo believes that an economy regulates itself through supply and demand and exporting more than importing. Israel mainly focuses on high-tech and exports. Are there any significant events happening in Israel in regards to its economy or politics? What are the current rates of:
Unemployment
GDP per capita
EFW Index
Balance of Trade Unemployment: 6.9%
GDP per capita: $30,975
EFW Index: 66.9
Balance of trade: $11.4 billion What industries are most important in Israel? high technology products, aviation, communications, medical electronics, and computer designs; wood and paper products; potash and phosphates; food, beverages and tobacco; caustic soda, cement, construction metals productions, chemical productions, plastics, diamond cutting, textiles and footwear Based on your research, through which products or industries might Israel enjoy comparative advantage? Machinery, software, cut diamonds, agricultural products, chemicals, textiles and apparel Does the United States already have a trade relationship with Israel? If so, list the products of exchange. Yes.
US -> Israel: Diamonds, electrical machinery, aircraft, optic, and medical supplies. Coarse grain, wheat and feeds

Israel -> US: Diamonds, pharmaceutical, electrical machinery, optic and medical supplies. Snack foods, chocolate, processed fruit and vegetables. Compare and contrast the economic freedoms of Israel Israel's Economic freedom is at 66.9% and has decreased 0.9% in multiple categories such as the fiscal freedom and freedom from corruption. Describe what trade barriers exist within Israel The FTA has eliminated almost all of Israel's tariffs leaving Israel's agriculture sector as the only one with substantial barriers Is Israel a member of any free trade zones? Israel Free Trade Area Implementation Act of 1955
European Union Free Trade (EU)
European Free Trade Association (EFTA)
Free Trade Association (FTA)
What is the current rate of inflation for Israel? 0.8% topographical map What are some geographic features of South Africa that may impact production and trade? Vast interior plateau rimmed by rugged hills and narrow coastal plains traditional, command, market or mixed economy? Merging Market Economy Identify and explain which economist's theories you studied are more closely aligned with South Africa. Karl Marx's theory is closely related to how South Africa is ran. South Africa turned from an agrarian economy to an industrial economy. South Africa has had a huge economic boost due to this change. Are there any significant events happening in South Africa regarding its economy or politics? Economic: There is an economic growth going on in South Africa. The economy is the largest and most sophisticated in Africa today. What are the current rates of:

Unemployment:
GDP per capita:
EFW Index:
Balance of Trade: Unemployment: 24.9%
GDP per capita: $10,973
EFW Index: 61.8
Balance of Trade: $5.8 billion What industries are most prominent in South Africa? mining (worlds largest producer of platinum, gold and chromium), automobile assembly, metal working machinery, textiles, iron and steel, chemicals, fertilizers, foodstuffs, and commercial ship repair Based on your research, through which products or industries might South Africa enjoy comparative advantage? gold, diamonds, platinum, other metals and minerals, machinery and equipment Does the United States have a trade relationship with South Africa? If so, list products of exchange. Yes.
Trade and Investment Framework Agreement (TIFA)
US -> South Africa: Wheat, poultry meat, vegetable oil and dairy products
South Africa -> US: Diamonds, vehicles, iron and steel, machinery, ores, slay and ash, fresh fruit, wine and beer, and tree nuts Compare and contrast the economic freedoms of South Africa The economic freedom score is 61.8, 0.9 points lower, reducing the overall economic freedom for government spending and freedom of corruption. South Africa is currently ranked higher than the world and regional average. Describe what trade barriers exist within South Africa. tariffs, port congestion, technical standards, customs valuation above invoice prices, theft of goods, import permits, anti-dumping measures, IPR crime, and inefficient bureaucracy Is South Africa a member any free trade zones? Yes.
African Free Trade Zone (AFTZ)
African Free Trade Zone Association (AFZA) What is the current rate of inflation for South Africa? 5.9% Politics: Israel says that the capital in Jerusalem will not be divided, nor will any negotiations to the effect be conducted. Israel will continue to push for the expansion of Jewish neighbors in east Jerusalem. Israel will ensure the freedom of religion and faith as well as free access to all holy places in Jerusalem, for all religions. CURRENT EVENT Headline: US Consume Confidence Reaches 5 Year High as Stocks, Housing and Job Outlook Strengthen

Citation: http://www.foxnews.com/us/2013/05/28/us-consumer-confidence-reaches-5-year-high-as-stocks-housing-and-job-outlook/ Summary: Stock averages have extended drastically this year causing the economy to hit its highest point since the Great Recession of 2007. The Dow Jones Industrial Average and the Broader Stock Indexes have rose reaching an increase of 18%. These increases are from the consumer rate of individuals buying more goods; increasing the job rate and lowering the unemployment rate. The United States market is rising steadily nationwide. Vocabulary:
Stock Average: A simple way to calculate the relative price of an index of stocks that involves adding the prices of all the stocks in the index and dividing by the total number of stocks
Dow Jones Industrial Average: An index of certain stock prices on the New York Stock Exchange, computed by the Dow Jones publishing company as a weighted average of the prices of the common stocks of 30 specific companies classified as "industrial".
Broader Stock: An index that consists of many stocks or stocks in many different industries
Application: By Americans keeping the consumer rate up and buying more houses, vehicles, etc, the economy will stay up and the unemployment rate will keep falling. The more consumer buying, the higher the Dow Jones Industrial Average resulting in a balanced and pretty good economy.
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