This might sound a little out of context to you, but the truth is that understanding your economy is essential.
Why so? You need to know about the country you live in to make better decisions when you grow up and enter the practical world. A lot of students don’t pay attention to the news because they can’t understand the complicated terms. But when you are under the guidance of the right economics tutor, things get a little easier for you!
How Are These Two Related?
Singapore gained its independence in 1965. It started as an emerging country with little to no natural resources. However, the last five decades have been full of struggle and hard work. Therefore, this hard work led the country to one of the world’s best economies. How was it possible? The credit goes to smart economic decisions by the Singapore Government.
The economics teachers at schools are bound to cover the course outline on time. Therefore, they don’t get the chance to talk about the current economic situation. However, as an A-level student, it is equally essential for you to know about Singapore’s economy. For this purpose, economics tutors can explain the economy and give you knowledge about economics’ practical implementation. Economics tuition aims to focus on the more essential concepts and sample questions. So, expect to learn more with your economics mentors!
However, if you register yourself with the best tutor in town, Anthony Fok, expect to know how each economics topic can be linked with the country’s current policies from him. It will help you with essay type questions and give you awareness of your surroundings.
Singapore has less economic demand due to a small population. Furthermore, these people have the ideology of spending less and saving more. So, the country’s economy depends more on external demand. As a result, it is the source of Singapore’s national income. The country’s government increases external demand through appropriate trade policies. The World Trade Organization has made efforts to reduce trade barriers. Other than that, the individual states have also worked hard to create trade friendly policies by signing bilateral and multilateral trade agreements. An experienced tutor would add these matters while teaching trade policies. He will ensure that the students know how increasing trade can be beneficial for the country’s economy. Singing free trade agreements will increase the external demand for goods and services. As a result, they will get cheaper for state residents. Moreover, more external trading of the goods and services will increase the Gross domestic product of Singapore.
Foreign direct investments
Good trade policies will not only increase the export demand but also can be beneficial for foreign direct investments. What is a foreign direct investment? It means that a firm in another country wants to invest in a member country. You can learn more about its effects with the help of your economics tutor. However, the increase in foreign expenditure investment does not have a significant impact on Singapore’s economy as an increase in exports. But it can leave a long-lasting effect on the country’s production capacity, hence, positively affecting its Long economic term. These effects on Singapore’s economy can be learned in the best economics tuition of Singapore, JCEconomics, by Anthony Fok.
Increased external trade and foreign investment will lead to an increased demand for Singapore dollars. As a result, it will decrease the export competitiveness. You can learn about these links in your economics tuition. However, the fall of Singapore dollars will reduce the exports, hence, adversely affecting the country’s economy. To avoid such a situation, Singapore’s government sells Singapore dollars and buys a foreign currency. Since this policy, the country has witnessed rapid growth in the economy of the country.