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The world economy is in a never-ending state of flux. The fact is that billions of variables — both big and small — factor into any calculation of overall economic productivity, and these inputs are changing all of the time. The World Bank also provides a regional breakdown of global GDP, which we helps to give additional perspective:.
The low income countries — which have a combined population of about million people — add up to only 0. For more on the world economy and predictions on country GDPs on a forward-looking basis, we suggest looking at our animation on the Biggest Economies in Jeff Desjardins , Founder and editor, Visual Capitalist. Medieval manor life is another example: The lord provided the land for growing crops and protection in the event of war.
In the last century, communism emphasized command economies. In a command economy, resources and businesses are owned by the government. The government decides what goods and services will be produced and what prices will be charged for them. The government decides what methods of production will be used and how much workers will be paid.
Some necessities like health care and education are provided for free, as long as the state determines that you need them. Currently, North Korea and Cuba have command economies. The primary distinction between a free and command economy is the degree to which the government determines what can be produced and what prices will be charged. In a free market, these determinations are made by the collective decisions of the market itself which is comprised of producers and consumers.
Producers and consumers make rational decisions about what will satisfy their self-interest and maximize profits, and the market responds accordingly. In a planned economy, the government makes most decisions about what will be produced and what the prices will be, and the market must follow that plan.
Most economies in the real world are mixed; they combine elements of command and market systems. The U. Many countries in Europe and Latin America, while primarily market-oriented, have a greater degree of government involvement in economic decisions than in the U.
China and Russia, while they are closer now to having a market-oriented system than several decades ago, remain closer to the command-economy end of the spectrum.
In reality, economies are neither completely free-market nor completely planned. Throughout this course we will consider a number of ways in which the U. Privacy Policy. Skip to main content. The following interactive chart from Our World in Data helps to give us some perspective on this turbulence, comparing Q2 economic figures against those from the same quarter last year. One of the hardest hit economies has been Peru. The Latin American country, which is about the 50th largest in terms of GDP globally, saw its economy contract by Both saw minuscule contractions in a quarter where the global economy seemed to grind to a halt.
According to the World Bank, the global economy could ultimately shrink 5. See below for World Bank projections on GDP in for when the dust settles, as well as the subsequent potential for recovery in This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week. Tesla has reigned supreme among electric car companies, ever since it first released the Roadster back in It also plans to build six battery factories in Europe by and to invest globally in charging stations.
GM, the largest U. The company is making a big push into pure electric vehicles, with more than 30 new models expected by The American carmaker has laid out plans to invest tens of billions of dollars in electric and autonomous vehicle efforts in the coming years. When it comes to electric car company brand awareness in the marketplace, Tesla still surpasses all others.
In fact, more than one-fourth of shoppers who are considering an EV said Tesla is their top choice. Tesla recently surpassed Audi as the fourth-largest luxury car brand in the United States in BloombergNEF expects annual passenger EV sales to reach 13 million in , 28 million in , and 48 million by , outselling gasoline and diesel models 42 million.
Why do companies change their name, and what can we learn from past examples? The list goes on. These considerations are amplified when a company is already established, and even more difficult when your company serves billions of users around the globe. Below are some of the categories of rebranding that stand out the most. Societal perceptions can change fast, and companies do their best to anticipate these changes in advance.
As time goes on, companies with more overt negative externalities have come under pressure—particularly in the era of ESG investing. Social pressure was behind the name changes at Total and Philip Morris. In some cases, the reason why companies change their name is more subtle. The financial services company rebranded to Ally in Brands can become unpopular over time because of scandals, a decline in quality, or countless other reasons.
When this happens, a name change can be a way of getting customers to shed those old, negative connotations.
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