What is an economic and economic goal? Economic is the social science that is concerned with the production, distribution, and consumption of goods and services. Current economic models developed out of the large field of political economy in the late 19th century .Some government appear cannot to control their economic , they have many economic problems. As an example, unemployment. If those country unemployment very high, it will cause recessions. Those country's leaders in the election of constantly changing will let the people feel no believe in them, they also cannot manage their countries very well, so it will cause the economic goes down. Every country has their own government, there challenge to achieve the same economic goals to make their economic growth. Economic goals have four important things; there is price stability, economic growth faster than population growth, low unemployment of resources and equitable distribution. I will put in the following four key elements within each of these reasons.160
2.1 Price stability
The one of the important thing to hit the economic goals is price stability. In economic, inflation is a rise in the general level of price of good and service. We need the price stability so much because, when we stable price we just can plan what we can buy in our budget. Inflation we have positive and negative. In the negative effects of inflation, there are decrease in the real value of money and other monetary items. When the price level rises, people have not enough money to buy the thing that they are needed in a reasonable price. So the people will object the government when the price was rising too high. For an example, in Malaysia, the poor people them have not enough money to fill petrol, so the government was helping them. Before, Malaysia governments subsidize all petrol for their people but their neighbor country people are coming into their country to get cheaper petrol. Now there are only subsidizing for those car was under 2000cc and using RON 95 petrol, for those foreign car their not having a sponsor on the Malaysia government. If the government is not sponsor to their people on the petrol, their people will not have enough money to fill up petrol, so it will affect local car produce and it will make a commercial crisis or business bankrupt to local cars. High inflation may lead to shortages of goods if consumers begin to hoarding out of concern that price will increase in the future. When the price is lower than the market price, it will face shortage problem. For an example; if a thing that is expensive, but suddenly the price drop to very cheap everyone will buy it in a short time, so in the market will make a shortage. Positive effects relieve of economic recessions and don't owe in other countries by cut down the real level of debt.321
3.1 Economic growth faster than population growth
The other thing is economic growth faster than the population. Economic growth is a term used to indicate the increase of per capita gross domestic product (GDP) or other measure of aggregate income. Economic growth can be either positive or negative. Negative growth way (population growth) can be referred to by saying that economic is in recession. If the population growth faster than the economic growth, it will make the people living standards recession. For an example; we don't have enough school, houses and cars. So some of those country government limits their people a family maximum two children to reduce this happened. Therefore, they need to pay more for the same things of goods and services. If there would be often fluctuation of price, country won't have a chance for economic growth and will not help uplift the living standard of the people. As Singapore before this their government wan to reduce this happen so them make a law say one family only can born two child, if more than two child it will have a fine. Positive economic growth is needed to spur the people and to improve their standard of living. If a country economic growth faster than population, then the country people living standard was very high. For an example; if a country economic very good, so the government employees can get the bonus from the government and spend more to the market.237
4.1 low unemployment of resources
The next is low unemployment of resources. This goals will help us to growth our economic when we use well of those kind of resources. In this, it have four main things to make it happened, there are land, labour, capital and entrepreneurship. We should make good use of these resources，it can make our economic growth.58
4.1.1 Land
The main things is land, we should make good use of it. If we don't use so many lands, we can sale it out or rent to other people. In Malaysia, Government they need many land; therefore they need to cut away the tree in the forest to get many land. For an example; build building, houses, school and road. When the government cut more trees the environment will become hotter. So, when we have a land that we dint use it we can sale it to the government or other people to reduce cut away the tree.98
4.1.2 Labour
Labour is also needed by every company, every company need it to help them to operate every things. If in our country we have too many unemployed people, government can send those people to other country to work. That would be the solution to the country that has excess labour, and many others are also unemployed. For an example Indonesia have to many people be unemployed, so that the people in that country go out of one's way to work at other country to get more income to their family.90
4.1.3 Capital
Every business need Capital without doubt every country also need capital. If a country doesn't have enough capital the country economic will drop and their people don't have a standard of living. So every country must have capital, their government need capital to make some project such as building to make their people living standard grow up. 57
4.1.4 Entrepreneurship
Every company or every country they need entrepreneurship, their need a person who can give them idea and give them a great proposal to improve certain economic system especially when it comes to business or trading. The companies need people to give them idea to gain more profit. The government also needs entrepreneurship to give them idea and how they want to uplift their living standard and how they want to develop the economic.74
5.1 Equitable distribution of income and wealth
People can be confused about the concept of income and wealth, but in reality they are very different. If a person who don't have any income but they have a great deal of wealth as a result, wealth can be defined as the value of our assets minus the total debt that we own. As an example of the assets such as stocks, businesses, shares and property. Income is a bit different. Accountants refer to income as a flow of fund. For an example; a person don't have his own assets, but he has a job will receiving an income when the end of the month. In Malaysia, the government tax from worker income is 8% and the employed need to help them to pay 12% also. The government wills equitable distribution income and wealth by using income tax. The use of income tax is don't want the people that are rich become richer and the poor become poorest. For an example; if the poor people they really did not have any money then they will become a thief, rob bank, transport drugs and many social problem. That why, the government wants to give their people equitable distribution of income and wealth. Their want their people live in a peaceful place. So the government want to reduce this happened by using taxes. The more rich you are the more taxes you need to give by following the rule that government given. In Malaysia, the people who yearly income was less then RM20, 000.00 will not having taxes, because the income is not enough to a family pay expenses. Those people can apply government subsidize to help them to cover some expenses. 281
6 Conclusion
I'm so lucky that I was living in Malaysia, because our government gives us a very good treatment. In price stability our government gives we subsidize in our patrol, rice and the sugar. Other country they have no subsidize at the petrol, their petrol was very expensive. Luckily, in our country we still are economic growth faster than the population growth, so we don't have the problem that are not enough school, houses and so on. But, in Malaysia many Malaysian they don't have enough education they are labor but they don't want to work at the lower income. So, the employer takes labor at other country. I think the government must control the migrant workers don't let so much of them came into our country to make local labour unemployed. Our government will give all their people equitable distribution of income and wealth by using the tax, if person is income is very high then the taxes also will follow the income increases. 164
Question 2
2. The globalization structure today has created a tendency which international trade has become an extremely important economic resource for most of the countries in the world. Discuss how Malaysia has benefited from international trade.
7.1 Introductions
What is globalization? What is international trade? How Malaysia did have benefited from international trade? The globalization is describes a process by which regional societies, economies and cultures have become integrated through a global network of transportation, trade, and communication. International trade is exchange of goods, services and capital across international borders or territories. International trade is refers to trading activities, includes of importing and exporting. International trade is an issue that divides the general populace into two extreme camps. That there are who support it to the hilt, and the other is who see it as the worst possible thing that could have happened. There are many countries in the world and the natural resources are having by them. For an example, Malaysia we have the geographical conditions that is Malacca, before every business ship want to export their thing the ship will pass trough Malacca. There will rest at there and supplementary foods because of the monsoon. When they have not enough money, then they will use their goods to exchange foods for us. Below, I will discuss how Malaysia get benefit from international trade.187
8.1 Improved product quality and production efficiency
If you wanted your company brand to survive in this business market, you must need to improve your product quality and production efficiency. Now the days, in the market were having too many of branded in the market. In china, people say that the product quality is the soul of the company. If you want to survive in the business market you must let the people to know about you product quality performance and business performance in the industry of Malaysia. In the business market, people will buy the cheaper and good product to improve their living standard. If the product it can product cheaper and product faster in a high quality, then the owner will get more profit on it. If a company they can't product quality and cheaper things, very fast this company can't survive in this business market. The high product quality can keep the consumer, and the product keep improve the goods quality it can give the consumer confident to their product. If the product is good and then the customer requirements increase, the firm needs to produce more goods. This situation can facilitate economic.189
8.2 Reduction in unemployed resources
Every country has many unemployed resources, if we are having international trade we can reduction many people and land will be use. When we were having the international trade, the other country people will come here to find a place to open their company. So that the place we are not using then we can rent to the people who want to begin their business here, this will also reduce our unused resources. When there are open a company here, our government also can get the benefit from them by using taxes. When there are having a company here, they needs to employ entrepreneurship to help them to manage the company. When there are engage local people, so it will reduce the people in the country was unemployed. The people who come to our country to open a company that they need capital, so they will use their country money change to our country. When it happened, we will have more money into the market to growth up the economic. The last resource in our country was labour. They need to employ labour because they need them to help them to operate everything. When they are using our resources is to help our country to reduce the unemployed. We can get more benefit when it was having a international trade.220
8.3 Greater mobility of resources
In the world, there are many resources that can be using as well as we can even the thing that are being using before. If the things still can be using then we can export it to the least developed countries. For an example; In Malaysia has many people still unemployed, so we can send the worker to the other country to work, when the end of the month the worker will send some of the money to their family. When then worker send foreign currency to their family there will having some process in the bank that are making the foreign currency to become home currency, because the bank don't have any foreign currency. When the money was changing our money will goes into the market. It also can help the economic growth. Foreign hi-tech is worth studying, it will improve our technology. Our country can get the technology from the other country and make the product become well.160
8.4 Promotes travel and understanding through cultural exchanges
To let many people know our country, so our country will having promotes travel. In Malaysia, we have 13 states and 1 'wilayah persekutuan', many people even not yet finish travel in Malaysia, so our governments try to let every people to travel in all of those state include the over sea people there are also welcome to having a travel, that why government want to promotes travel to everyone. The government needs to protect the cultural streets and the craftsmanship, more than this the government need to vigorously promote. Our special cultural, if have those using well that can attract foreign traveler. When there are traveling in every state, every state have their own history, so they will understand through cultural exchange. In Malaysia there are many races, Malay, Chinese and India people. In these three races of people we can learn more language from it and know more about their custom. For an example, the other one is India people their have wesak day and their will celebrate it on the batu cave.175
9.1 Conclusion
In general, government may ban the conscienceless manufacturer didn't quality products it will affect the benefit and the honorary of our country. The government should strict control and supervise it. When necessary, they may cancel the license if the situation happened. Nowadays, government ignore local talent cause they progress and take up advanced studies to the other country. From this, we not only need to keep the local talent we have, we also can drag in foreign talent to promote the economic development. It good rather than harm. Government may excavate the talent we have, cultivate and nourish talent. Some fine day, they will make some dedicate for country. The next situation is the cultural street and the skill which the government protect and keep can improve the economics of country. So, it must not blot out from them. 139
