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Outside Influences on the Economy John Garvin, Monica Rains, Daniel Hankins
In our economy not all factors are based on economy. Outside sources have an effect on the market flow business cycle. Many outside factors can increase or decrease the economy, war and technological advances can create positive or negative economic stints.
War In WWII created jobs in war factories creating weapons and airplanes This changed the entire economy because of the great advances we made during this time.
War Caused… Advances with aircraft and weaponry More jobs in factories making products Cost of war is expensive and now causing distress
Technological Advances Computerized factory work extinguishes some factory jobs Because of the advances it creates more demanding work
Outsourcing Sending easier manual labor to other countries where minimum wage is less or not present Creates higher end jobs in America, but cause working class not to have jobs
How does it happens? Humans are always motivated to find the next big thing. Once this “ thing “ is found, the dependence upon this product effects the economy
Economy The factors of the economy depend on many factors. The world creates the economy with everything it does. Wars create changes in economy with how much money is going towards it. While in other factors such as technology it creates more jobs but takes away lower ended jobs.