Over the period, the global environment has encountered tremendous technological advancements leading to the establishment of radical changes in world economies. The advancement of technology has resulted in the establishment of innovation and invention of better methods of conducting economic activities leading to the enhancement of economic growth. In this regard, world economies have continued to experience an increase in living standards and economic growth. World economists have jointly agreed that economic growth of any nation is shown by the analysis of the unemployment rates, the rise in living standard, the growth in GDP and national income. In order to ensure the betterment of individual economies, the World Bank has continued to collaborate with both developed and developing nations to ensure economic development. Specifically, the World Bank has enacted policies aimed at ensuring stability of natural gas/ oil and reduction of unemployment rates.

Natural gas and economic growth

The analysis of reports from the World Bank has shown that the global economy has continued to rise. Economic growth is influenced by the quantity of energy consumed by industries in the economy. In this regard, developing economies have continued to enact policies aimed at harnessing both wind and solar energy to boost development. The stability of energy provision is extremely critical for the development of emerging economies because it provides the raw material for the industries. The economists from developing economies have stated that oil is critical raw material in the establishment of the manufacturing sector that forms the basic backbone of these developing economies. Therefore, fluctuation in global oil prices has adversely affected the rates of economic developments. Oil is beneficial in the running of machines that contributes to national income.

In addition, the availability of oil in an economy is beneficial for the establishment of low unemployment rates. The growth of the economy is dependent on the availability of oil or natural gas because they provide the energy to run industries in the manufacturing sector of the economy. In this regard, decline in the availability of oil or natural leads to the increment of prices of goods and services in the economy because of increased cost of production. It happens that manufactures increase the cost of consumer goods because by transferring the higher costs to consumers. Increase in the demand for oil leads to the increase in economic development because all aspects of economic developments are enhanced. Similarly, decrease in the demand for oil has adverse economic effects because it leads to the reduction in economic performance. The reduction in the performance of economic sectors leads to increase in the inflation rate. In addition, demand for oil is also related to the enhancement of employment rates in the economy. When the economy is performing at par, the industry in the manufacturing performs well and creates more employment for the population thereby increasing economic development.

Oil is an integral factor in the enhancement of foreign exchange. Foreign earnings are extremely beneficial in the establishment of national income and the GDP. The exports derived oil trade is used for investment and economic development. The development of any nation is achieved through the enhancement of investment. Increase in investment opportunities leads to the increase in employment opportunities. Therefore, the availability of oil in an economy leads to significant development in the economy because it leads to economic development, increase in foreign earnings, and reduction in unemployment rates and increase in both the national income and the GDP.

The gemstone maker

Technological advancement experienced over the period has resulted in the emergence of new markets in the economy. Invention and innovation has resulted in the establishment of gemstones that have high values. Over the period, various nations have adopted the sale and purchase of these commodities because of the significant amount of benefits involved in the trade. The development of this market has enhanced economic performance by influencing both political and sociological factors. The development of gemstones market is extremely critical because it contributes to the enhancement of national income and the GDP of the nation. Increase in these factors will lead to the establishment of economic growth. Consequently, the policies enacted by the government of a nation significantly influence the operations of the market. the performance and contribution of entrepreneurs in an economy is dependent on the prevailing government policies and the political stability. Political stability is essential for the realization of investment in the venture while both social and cultural factors enhance the performance of the venture. Studies have shown that both developed and developing countries have prevailing social norms that govern the operations of various industries and firms. Therefore, violation of these norms will adversely affect the investment in gemstones. The perception of the citizens about the venture in the gemstones is extremely significant because it enhances their participation and influence economic growth.

The development of gemstone entrepreneurship has the dynamics of enhancing economic development because it establishes increase in the value of national income. Furthermore, the gemstone maker creates employment opportunities for the citizens. Therefore, the establishment of gemstone market is extremely beneficial to the economic because the proceeds of the market largely contributes to economic growth. In conclusion, economists have unanimously agreed that the development of long term industries in the economy enhances economic growth. In this regard, the establishment of gemstone market by the gemstone makers is a long term investment that enhances economic growth of the both developing and developed nations. Lastly, the principles of microeconomic stipulate that increase in investment is extremely vital for the enhancement of economic growth. Therefore, the increase in the number of gemstone makers is vital for economic growth because they contribute taxes and increase the employment rates of the nation. In addition, the establishment of gemstone makers also increases both the national income and the GDP. The analysis conducted on the economies of the developed countries shows that the gemstone market is highly developed. The development of gemstone firms in these nations has continued to guarantee their increase in economic development by ensuring growth in national income.

Hiring labor

The growth of the economy is signified by the increment in national income and the GDP. Increase in the production of national income is stipulated by the prevailing employment rate in the economy. Labor is an integral aspect of economic growth because it shows the contributions of the citizens. The establishment and functionality of the industries requires the services of the citizens who offer their labor services. The realization of real economic growth is achieved through the enhancement of full employment. The policies of microeconomics describe full employment to reflect the attainment of employment opportunities for all the citizens willing to be employed. In this regard, the attainment of full employment leads to the increase in production and output.

The rise in economic growth rate leads to the rise in the demand for labor because the citizens and entrepreneurs have a significant amount of disposable income. The increase in the amount of disposable income leads to increase in the demand for labor. Consequently, the economies will exhibit significant growth because of the increase in economic performance. However, reduction in the demand for labor has adverse consequence in the productivity of the nation because the economies will exhibit a reduction in industrial output. Reduction in economic output leads to the reduction in the economic growth because the national product and the GDP will be adversely affected. The analysis of records from surveys has shown that reduction in the demand for labor is commonly attributed to the reduction in economic growth because the sectors of the economy are not performing at par. Reduction in the performance of industries and firms in the economy leads to the decrease in the establishment of labor market. In conclusion, an increase in the supply of labor leads to an increase in the performance of business cycles and other investments. This has the effect of ensuring economic growth.

San Francisco

Over the period, San Francisco has continued to be the hub for economic development in the entire region of America. The city has continued to invest in commodity innovation, and technological advancement to enhance economic growth. In addition, the planners in the region have established the importance of enhancing political stability and investment policies that encourage growth of industries and the general economy. In this regard, the developers in the city have realized the necessity of sharing opinion and ideas with the aim creating more job opportunities for the citizens. The enhancement of political stability is extremely critical for the realization of economic development. Studies conducted on various economies have stated that investments in stable governments are more rewarding than non-stable governments. Therefore, the governance of the city of San Francisco has continued to innovate crucial policies that enhance political stability. The enhancement of stable political environment is also critical in the determination of the legality of business ventures.

The development of San Francisco has the seen the rise of shareable policies that encourages participation of all the citizens in the city. The enactment of this policy has proved to be beneficial towards the realization of economic growth because it has resulted in the enhancement of full employment and increase in the national output. The enactment of this policy has resulted in a significant reduction of operation costs in the costs. In turn, the entrepreneurs have found the venture extremely beneficial because they have continued to reap high profits from the venture. Analysts have attributed the growth of San Francisco to the enhancement of production output and reduction in the cost of production. This has enhanced microeconomic growth because the city has realized increased investment rates and high disposable income amongst the residents. Continued investments by the citizens in the city have resulted in a significant development of the industrial sectors. The development of economic sectors of the city has further led to the rise in employment rates. Finally, the development of the sharing economy of San Francisco has resulted in the increase in national product because of the significant contribution made by all the citizens in the city. Furthermore, the development of the city can be attributed to the observation of the factors of labor demand and supply that has resulted in the emergence of invention and innovation of new ideas.

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