Economics System of France-Free-Samples-Myassignmenthelp.com

Question: You are to make a short presentation to the class describing the economic system of your country of choice. Answer: France Today, France i one of the most developed and modern economies of the world. Noteworthy, French is the national language of the country. On the other hand, a majority of the French people are Roman Catholic Christians. However, only a minority of this population actively participate in religious activities, with worship most prevalent among the middle class. In the 1800s, France was the most populous nation in Europe. As of now, the population of the country is estimated at 65, 096,103 (Worldometers, 2017). Nowadays, people associate the French culture with Paris, which is the centre of architecture, art, cuisine and fashion. Generally, the country is a leader and one of the major economic powers ranking along nations such as the US, Germany, Italy and Japan. Ownership of resources It is important to point out that France, as a modern economy is dominated by private ownership of land and capital. Even so, the state government maintains ownership of state resources in the country. The government ensures the secure enforcement of property rights and contracts. There is also a strong protection of intellectual property rights in the country. Means of Coordination Characteristically, trade is an important aspect in the French economy. Currently, the countrys official currency is the French franc. Today, this currency is one of the strongest in the world. Although the money is the main medium, the nation has seen the re-emergence of the barter system over the past few years. As such, a new barter system has been invented to facilitate the exchange of services between people without the using money. Mainly, this is facilitated by the use f the barter card for business to business transactions (Barter News Weekly, 2017). The level of competition within the country is generally high. For a while now, the nation has been characterized by an increase in the number of firms within various industries and sectors. Noteworthy, the government intervenes in the markets by regulation the level and form of competition through competition policies. Economic Facts and Figures As noted earlier, France has a well developed economy. As a result, it experiences relatively high levels of economic growth. For instance, the economy grew by 0.5 percent between the July and September quarter of 2017. On average, the GDP growth rate is estimated at 0.78 percent from 1949 until 2017 (Trading Economics, 2017). On the other hand, the level of inflation in the country has been generally high. In the period between 1958 and 2017, the average level of inflation is 1.45 percent (Trading Economics, 2017). Also, consumer prices increased by 1.2 percent year on year as at November (Trading Economics). As a whole, the rate of unemployment in the country is high. Specifically, the level of unemployment was estimated as 9.5 percent in the September quarter of 2017 (Trading Economics, 2017). On average, in the period between 1996 and 2017, the rate of unemployment is 9.28 percent (Trading Economics, 2017). Regardless, the French economy experiences high level of economic development. Compared to other nations, the poverty index in the country is low. The degree of self sufficiency and technological development is also high. Presently, the leading industries in the country include the telecommunications, ship building, aerospace and defense, chemicals, and pharmaceuticals. In addition, its the leading country in nuclear energy with firms emerging in the industry. For this reason, the main export commodities from France include petroleum, car and vehicles, planes and helicopters, and packaged medicaments among others (GASME, 2017). All in all, all factors considered the economy of France is robust with great prospects for growth. Today, the nation enjoys high level of growth and development. Reference List Barter card launches in France (2017). Barter News Weekly. Retrieved on 18 December 2017, from https://www.worldometers.info/world-population/france-population/ France GDP Growth Rate (2017). Trading Economics. Retrieved on 18 December 2017, from https://tradingeconomics.com/france/gdp-growth. France Inflation Rate (2017). Trading Economics. Retrieved on 18 December 2017, from https://tradingeconomics.com/france/inflation-cpi France Population (LIVE) (2017). Worldometers. Retrieved on 18 December 2017, from https://www.worldometers.info/world-population/france-population/ France Unemployment Rate (2017). Trading Economics. Retrieved on 18 December 2017, from https://tradingeconomics.com/france/unemployment-rate Frances Imports and Exports (2017). Global Alliances of SMEs (GASME). Retrieved on 18 December 2017, from https://www.globalsmes.org/news/index.php?func=detaildetailid=513catalog=24lan=en