It’s Extremely Important To Know The Difference Between The Terms “Economy” and “Economic System” If You Really Want To Understand How Economies Work.
Here are 10 Economic Tips that will give you a much better feel of how I view the world of economics.
The word economy basically means the production and distribution of products and services in order to create wealth.
There are different types of economic systems that are used to produce and distribute products and services in order to create wealth. Examples: capitalism and socialism.
Every major nation, from my personal point of view, is founded on 6 Fundamentals.
When the 6 Fundamentals of a nation’s economy are increasing, its economy will grow and prosper.
When the 6 Fundamentals of a nation’s economy are decreasing, its economy will deteriorate.
The 6 Fundamentals of a nation’s economy affect its supply and demand.
A nation’s demand will increase when its 6 Fundamentals are increasing.
A nation’s supply will increase when its 6 Fundamentals are increasing.
The first conceptual secret for a nation to have economic growth and prosperity is to have the majority of consumers in a positive disposable income position which means their incomes are exceeding their expenses.
Disposable income, as I define it, is the amount of money a person has after paying any required income taxes. The money left over can then be used for housing, food, clothes and other miscellaneous day to day living expenses as desired.
I will be going into great detail about the above 10 Economic Tips in future articles.
Remember to look for my Economic Tips For December 2016 article in about four weeks.
Agents’ Note: Phil Mitsch has been rated the world's leading economic recovery, real estate, financial and motivation trainer. He is also the real estate industry’s all time, top producing residential resale Realtor, who did not use personal assistants. His 1) biography, 2) testimonials, 3) seminar topics, 4) books, 5) videos, 6) audios, 7) economic recovery tips, 8) real estate tips, 9) financial tips and 10) motivation tips can be found at www.PhilMitschForAmerica.com. His tips can also be found @PhilMitsch on Twitter. For further seminar and training information, contact Phil Mitsch Enterprises in Cherry Hill, New Jersey at 856-665-6569 or by email to email@example.com