Would you prefer to own a business in the German economy or British economy why A complete answer will include the following information your choice between the two economies the type of economy it is mixed command market etc 2 to 3 reasons why you choose that economy the German economy during the late '80s and early '90s Germany like the other European countries depended heavily on its natural resources Germany build a strong still industry in the North western Rhine ruhr region this region had reached deposits of the coal in iron or used to make steel water transport along the rhyme other rivers in a system of canals help the German economy grow real world greatly help the economy too by improving transportation to places away from water routes later the Germany economy expanded into research engineering and technical activities these new parts of the economy were centered in the urban areas that grew up along the railways in waterways these activities including Germany car industry are now the German economy greatest strength Germany is currently the largest economy in Europe in the fifth largest in the world like other European countries Jeremy has a mixed economy through the government in Germany has a strong role it provides government-funded health insurance and free university education among other services Germany enjoys a high standard of living because it has invested heavily Germany investment in human capital through education has resulted in high literacy rates and productive workers Germany companions have also invested heavily in the most advanced capital including which helps their workers to be even more productive this high productivity results in high wages entrepreneurship is also very strong in Germany which place 14th out of 130 countries ranked on entrepreneurial strength in 2016 this means that Germany entrepreneurs have an easier time starting a business and are most likely to succeed then in many other countries strong and entre preneurship help the German economy growing stay strong The bridge economy United Kingdom also known as Britain was the first country to industrialize its first entry was textile production or the making of cloth listen she lied heavily on water power in a natural resource readily available in England what's in hilly Northwest the industry also relied on cotton which does not grow in Britain and had to be imported water transform became another key factor in Britain early industry as an Island country Britain has many seaports The British added their water network by building many canals across the country in the '70s and early '80s later in the '80s Britain's relied on its rich coal and iron or deposits to develop a steel industry in the late '90s Britain benefited from yet another natural resource deposit of oil and natural gas in the North Sea by the early twenties both Britain supply of natural resources and its economy dependence on them had a decreased today the Britain economies realized heavily on research innovation and financial services jobs in these areas dependent on the highly educated British workforce

Answer 1

Choice of Economy: German Economy

I would prefer to own a business in the German economy over the British economy.

Type of Economy

Both Germany and the UK operate under mixed economies; however, the structure and components within those economies diverge significantly. Germany has a stronger emphasis on engineering and manufacturing, while the UK has shifted towards a service-oriented economy, particularly in financial services.

Reasons for Choosing the German Economy

1. Strong Manufacturing Base: Germany's economy is characterized by a robust manufacturing sector that includes well-established industries such as automotive, engineering, and machinery. This strong foundation provides a more stable environment for businesses, particularly for those in manufacturing and engineering. The emphasis on high-quality production and the reputation of German products can offer significant advantages for businesses aimed at international markets.

2. High Productivity and Skilled Workforce: Germany invests heavily in human capital through education and vocational training. This results in a highly skilled workforce that is known for high productivity levels. Such an environment can be significantly beneficial for businesses, as a well-trained workforce often leads to better performance, innovation, and competitiveness. Furthermore, the strong entrepreneurial culture in Germany encourages new business formations and fosters a community that can support startups.

3. Government Support and Infrastructure: The German government plays a crucial role in supporting the economy through various services, including health insurance and education. Additionally, the infrastructure in Germany—such as transport networks including rail and water—and advanced technological advancements provides a conducive environment for business operations. A well-developed infrastructure reduces costs and increases efficiency, making it easier to conduct business and reach markets.

Overview of the German Economy during the Late '80s and Early '90s

In the late '80s and early '90s, the German economy was in a period of transition, especially with the reunification of East and West Germany. The economy was heavily reliant on natural resources, particularly coal and iron ore, leading to the establishment of a strong steel industry in the Ruhr region. The combination of coal deposits and water transport systems bolstered industrial growth, particularly in manufacturing.

During this time, Germany began to shift its focus toward high-tech industries and research-led sectors, which have become vital components of its current economic strength. The transition into more research-based industries, such as engineering and the automotive sector, allowed Germany to adapt to global economic shifts and challenges.

Conclusion

In summary, I would choose to own a business in Germany due to its strong manufacturing base, high levels of productivity supported by a skilled workforce, and favorable government policies that drive economic growth. The combination of these factors creates a favorable environment for entrepreneurs and established businesses alike, making it an attractive choice over the British economy, which has become more reliant on services and faced unique challenges related to its natural resource dependence.