POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Germany has a low gross domestic product and high unemployment.
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Germany can produce automobiles more efficiently than other countries.
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Germany has no natural resources that other countries demand.
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Germany sells automobiles to domestic consumers for very low prices.
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Detailed explanation-1: -In the business world, it is well known that Germany has a strong economy and worldwide trading reputation, but why is this? The German economy’s competitiveness and worldwide networking can be attributed to its elevated level of innovation and strong export orientation.
Detailed explanation-2: -Germany has a mixed economy. It allows a free market economy in consumer goods and business services. But the government imposes regulations even in those areas to protect its citizens. Germany has a command economy in defense since everyone receives the benefit, while those with higher incomes pay more in taxes.
Detailed explanation-3: -Germany has the 4th largest GDP in the world. The total value of exports and imports is equal to 86.9% of GDP.