economic Essay - 1701 Words

Globalisation - Economic Growth and Development and development indicators. â€Å"Outline the differences between economic growth and economic development. Discuss how economic development may be measured. Outline how globalisation may impact upon a nation’s development. Where appropriate make reference to a relevant case study.† Although economic growth and development are similar in meaning, they have some essential differences. Economic growth refers to the increasing ability of a nation to produce more goods and services. Economic development basically implies that individuals of that nation will be better off and takes into account changes in economic and social structures that will reduce or eliminate poverty. Economic development†¦show more content†¦Various indicators have been developed to compensate for the limitations of economic growth measurements. Rather than just measuring the economic living standards in a country, development indicators measure the welfare of individuals in that country. The main development indicator used is the Human Development Index (HDI). It was devised by the United Nations Development Program (UNDP) to measure the economic achievements of a nation in combining economic growth as well as social welfare. The HDI takes into account three major factors: Life expectancy at birth: High levels of longevity are critical for a country’s economic and social well being. Levels of educational attainment: The HDI measures adult literacy and the ratio of people in primary, secondary and tertiary education. Gross Domestic Product per capita: seen as being a measurement of the ability of people to access goods and services. The HDI is essentially a score between 0 and 1. A score of 0 would mean no human development has taken place and a score of 1 is the maximum amount of human development. In 2000, the Human Development Report places Canada as the top ranked nation with a HDI of 0.935. Australia was ranked fourth, with a HDI of 0.929 behind Norway and the United States. The lowest ranked nation was Sierra Leone with a HDI of 0.252. When comparing the HDI of certain countries, the GNP per capita should also be considered. A nation with a much higher-ranking HDI than GNP perShow MoreRelatedEconomics And Economics On Economics Essay1142 Words   |  5 PagesWhen we talk about economics we must first defined the word. Economics is a social science that studies human behavior and how to allocate our limited (scares) resources, efficiently and effectively to meet our unlimited human wants. Now as we dive deeper in to the field of economics we realized that there are two separate categories that the study of economics breaks off into. The first is macroeconomics, macroeconomics is the study of the whole picture when it comes to economics. Macroeconomics willRead MoreEconomics : Economics And Micro Economics1238 Words   |  5 Pages Economics is the study of how our unlimited demand of certain things can be met by our limited amount of supply. For instance, if there was an unlimited amount of money for everyone, then everyone would have everything they had always wanted and would not have to work to get the money. Everyone would have billion dollar homes and the nicest cars in the world. Unfortunately, we do have a limited amount of money, so the economists find ways to get around that. 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The basic economic problem can be define as what to produce, how much to produce and for whom to produce. Some countries are lucky to have great naturalRead MoreEconomics999 Words   |  4 PagesManagerial Economics MIDTERM Exam What changes can you envision to the real economy, should Rifkin’s vision of a zero marginal cost society, become reality? For me, Jeremy Rifkin is a great social theorist. I’m mostly agreeing with him, with his conclusions and visions of the future economy. They looks like perfect and definitely it’s a â€Å"think big† way of delivering the information. His book â€Å"The Zero Marginal Cost Society† is must read, of course. Trigger is a zero marginal cost. I’m completelyRead MoreEconomics1000 Words   |  4 Pagesconsumer change, there will be a much greater change in the production output in the capital equipment required to make those consumer goods. This change in the production of capital equipment, that is , investment spending speeds up the rate of economic growth or slump Since we are focused on short-run business-cycle fluctuations here, it is reasonable to ignore changes in K/Y that may be associated with long-run advances in technology. 15 – 10 proportional to the level of output in t, Kt Read MoreEconomics1134 Words   |  5 PagesMF 7701 Managerial Economics Quiz #1 Fall 2014 Instructions: 1. You may work on this quiz alone or with as many other students as you wish. If you work with other students, please submit only one (common) answer. 2. You may not talk about this exam with anyone outside of the two managerial economics sections. 3. You may work with people from the other section if they are taking this course. In all cases, please submit only one, common answer. 4. You must e-mail your finalRead MoreEconomic Growth And Economic Development917 Words   |  4 PagesEconomic growth refers to an increase in the capacity for an economy to produce goods and services as compared from one period of time to another. It can be measured either in nominal terms which include inflation, or in real terms that are adjusted for inflation. It is mainly influenced by unemployment, inflation, technology levels, rate of investment, population growth rate, among other factors. These factors are used further to explain the differences in the varying level of output per capita

Humorous Wedding Roast by a Friend of the Groom Essays

Humorous Wedding Speech by a Friend of the Groom Good evening Ladies and Gentlemen - I must admit to being rather nervous about todays speech. As it’s a family occasion, the last thing I want to do is cause offence by talking in too much detail about Brian’s colorful past. I’ve therefore decided to edit out anything that might cause offence. So thank you very much and have a wonderful evening! Sit down. Laughter. Stand up and continue. I read somewhere that you can flesh out your speech by researching which famous people were born the same day as the groom (bridegroom), and make some sort of link. Well, Brian was born on 9th January 1976, just 24 hours after a whole host of famous and interesting people - musical luminaries†¦show more content†¦Irene, on the other hand, shares the same birth-date with a couple of very famous individuals who, as a pair, succinctly summarize the two voices that live inside her head. The first, representing the caring, thoughtful, and sensitive Irene, is none other than Martin Luther King. The second is Edward Teller, the father of the Hydrogen bomb. I also discovered that’s it’s customary for a best mans speech to contain a history lesson involving some major event that took place on the day of the wedding. Well, the only two memorable things I can find that happened on this day - 11th March - were that the first mobile phone was patented in 1979, and the Rolling Stones were fined  £5 for urinating against a wall in 1966. I couldnt for the life of me find a link between Brian Wilson and mobile phones. The Rolling Stones, urinating and walls – that was more straightforward. Although not a major event or a memorable event, I did find it amusing that also on this day, back in 1976, the first ever team from the then Beaser Homes League qualified for the 5th round of the FA cup. And here we are again, 27 years later, another no-hoper having done astonishingly well. Id like you all to join me now in wishing Brian and Irene the very best for their future journey together. And I hope, when they look back years from now on this, their weddingShow MoreRelated Humorous Wedding Roast by a Friend of the Groom Essay571 Words   |  3 PagesHumorous Wedding Roast by a Friend of the Groom Good evening Ladies and Gentlemen – Id like to start by saying that what a genuine honor it is to be part of Normans wedding. I appreciate that I am just one of many equally suitable close friends that he could well have chosen. But I know he looks upon me as the older brother he never had, and I look on him as the younger brother I never wanted. So here I stand with this great opportunity to reveal to all, Norman’s past misdemeanors. So

Job Involvement On Employee Satisfaction Health And Social Care Essay Free Essays

string(33) " the most researched constructs\." This instance survey examines the relationship between occupation engagement and employee satisfaction with specific mention to medical physicians working at learning infirmaries of Riphah International University. Data was collected from 127 medical physicians. The consequences indicate that occupation engagement has a important impact of medical physicians working at learning infirmaries of Riphah International University. We will write a custom essay sample on Job Involvement On Employee Satisfaction Health And Social Care Essay or any similar topic only for you Order Now Schemes and recommendations are besides discussed. Field of Research: Human Resource Management Introduction The Hippocratic Oath requires that â€Å" physician shall continue the criterions of professionalism, be honest in all professional interaction and strive to describe doctors lacking in character or competency or prosecuting in fraud or misrepresentation, to allow entities † . Royal College of Physicians, Edinburgh ( 2005 ) , states that professional work comprises of exercising of cognition, accomplishments and discretional judgements. These properties are developed through committedness of professionals to their professions, to their peculiar domain of work and the promotion of organic structure of cognition. Medical profession is regarded as one of the noblest professions in the universe. It is merely natural that professional organic structures every bit good as the general public expect the medical practicians to show the highest criterions of professionalism. They are besides expected to adhere to these high criterions even in the face of such hardship as unfavourable occupation environment, hapless conditions and low earning degrees. In order to prolong the trust of the people, the medical professionals must turn out their committedness to competency, unity, morality and selflessness. The best manner to beef up their professionalism is to use these properties in their day-to-day patterns ( O ‘ Neil, 2002 ) . However, the major alterations in demographic forms, composing of the employment sector, increasing consumerism coupled with worsening moral criterions are progressively exerting force per unit area on professionalism. The medical profession is no exclusion. In the current epoch of information exposure and rapid globalisation, no state can put its professionals, be they of any subject, in quarantine. The medical profession in Pakistan is besides being affected by the international tendencies, both positively and negatively. The degree of occupation satisfaction among physicians, particularly immature physicians, appears to be worsening, as they are frequently found kicking about their inappropriate on the job conditions, deficiency of calling development chances, unequal compensation and thorough working hours etc. The people, nevertheless, by and large remain apathetic to these factors and go on to believe that the physicians must demo and follow with model criterions of professionalism, simply on the footing of their occupation engagement and committedness. The profession is perceived to be a service to the ailing humanity and its members are required to lift above personal involvements while executing their responsibilities. Though a figure of surveies have been done to mensurate the extent of and the subscribers to occupation satisfaction among medical practicians, this survey intends to look into and mensurate the impact of occupation engagement on the degree of occupation satisfaction. In order to happen the direct impact of occupation engagement, no other subscribers to occupation satisfaction have been included in the survey. The survey is based on the informations collected from the medical physicians functioning at the learning infirmaries of Riphah International University ( RIU ) , Islamabad viz. Pakistan Railway Hospital ( PRH ) , Rawalpindi, Islamic International Medical Complex ( IIMC ) , Islamabad and Islamic International Dental Complex ( IIDC ) Islamabad. The sample is a blend of physicians of assorted subjects like medical specialty, surgery and dental medicine. Problem Statement RIU is actively prosecuting the policy of bettering the health care substructure and criterions of patient attention services at its instruction infirmaries. The quality of the physicians and their professionalism at the occupation, is one of the major contributory factor for accomplishing the targeted high criterions. The professionalism of physicians mostly stems from the overall occupation environment in general and their degree of occupation satisfaction in peculiar. It is by and large believed that occupation engagement has a positive correlativity with occupation satisfaction. In position of the RIU ‘s mission, to advance and pattern Islamic moralss and values in all domains of its activities, the physicians functioning at its instruction infirmaries are expected to demo greater committedness to the profession and derive satisfaction from dedication to and engagement with their occupation. However, no scientific survey has been done to mensurate this peculiar facet at any of the RIU ‘s instruction infirmaries to day of the month. Research Question Does occupation engagement impact the degree of occupation satisfaction of the medical physicians functioning at the learning infirmaries of RIU? If so, what extent of this impact and what is the nature of this impact, positive or negative? Scope of the survey: The survey would be transverse sectional, primary informations based. All the physicians, from House Officers to Consultants/ Professors of all the three instruction infirmaries will be included in the survey. Survey Variables: The job statement intends to prove the impact of occupation engagement ( independent variable ) on occupation satisfaction ( dependent variable ) . Therefore, the survey would be directed towards mensurating the causal result between these two variables. Job engagement is defined as â€Å" the grade of psychological designation an employee has with his/her function in the workplace † ( Kannungo, 1982 ; Robinowitz and Hall, 1977 ) . Job satisfaction is defined as â€Å" an employee ‘s satisfaction with the feelings of success achieved from the occupation, the enjoyment of executing the responsibilities of the occupation and the degree of liberty associated with the occupation. ( Yilmaz, 2002 ) Literature reappraisal The construct of occupation engagement was foremost introduced by Lodahl and Kejiner ( 1965 ) . They related the occupation engagement to the psychological designation of an person with the work or importance of work in the person ‘s self image. It has a direct correlativity with occupation satisfaction and besides influences the work public presentation, sense of accomplishment and unexplained absenteeism. ( Robinowittz and Hall, 1977 ) . However, there is a important difference in the degree and extent of occupation engagement in different types of work ( Tang, 2000 ) Job satisfaction is one of the most researched constructs. You read "Job Involvement On Employee Satisfaction Health And Social Care Essay" in category "Essay examples" It is regarded as cardinal to work and organisational psychological science. It serves as a go-between for making relationship between working conditions, on the one manus, and individual/organizational result on the other. ( Dormann and Zapf, 2001 ) It is by and large believed that physicians are progressively demoing dissatisfaction with their occupations. A cross sectional survey carried out in the USA, in 1986 and 1997, found a worsening tendency in the satisfaction degree among general internists and household practicians of Massachusetts ( Murray. et Al. 2001 ) . Other surveies besides indicate that a stress degree of physicians has dramatically increased during the last twosome of decennaries. Though the physicians have achieved noticeable success in footings of calling and fundss, they frequently remain over worked and stressed. Consequently, the defeat, choler and restlessness are taking many of them to lose sight of their calling ends and personal aspirations. Another survey concludes that the work load, unsuitable working hours and deficiency of inducements are the major subscribers to the dissatisfaction of public wellness attention doctors in Riyadh, Saudi Arabia ( Kalantan, et.al. 1999 ) . A survey, based on the informations acquired at the learning infirmary of Bahawalpur, concluded that â€Å" Most of the physicians in all ranks and with different makings were found non satisfied with their occupations due to miss of proper service construction and low wages † ( Ghazali et al, 2000 ) . There are besides other studies of worsening calling satisfaction due to worsening professional liberty ( Toedtm, 2001 ) .A survey conducted among Korean doctors besides concluded that overall occupation satisfaction of doctors was highly low ( Lee et al, 2008 ) . In order to understand the kineticss of occupation engagement and occupation satisfaction, the underlying contributing factors need to be looked at before determining the impact of one on the other. Previous surveies have found that factors like income, relationships, liberty, pattern environment and the market environment are of import spheres that influence physician satisfaction ( Mello et al, 2004 ) . Job engagement is the manner a individual looks at his occupation as a relationship with the working environment and the occupation itself. How occupation involvement generates feelings of disaffection of intent, disaffection in the organisation or feeling of separation between life and occupation as perceived by an employee. This creates co-relation between occupation engagement and work disaffection ( Rabinowitz and Hall, 1981 ) . Hellriegel and Slocum ( 2004 ) have argued that since satisfaction is a determiner of the work experience, it follows that high degrees of occupation dissatisfaction are indexs of deeper organisational jobs. Job dissatisfaction is strongly linked to absenteeism, turnover, and physical and mental wellness jobs. It can be safely concluded that occupation satisfaction has a strong relationship with organisational committedness. The workers who are attracted by the occupation and organisation turn out to be most motivated. This is because their organisational committedness and occupation engagement is of a really high degree. They identify with and care about their occupations. Dissatisfaction among the medical professional is non a recent phenomenon. Excessive work burden, demand on clip and bureaucratic working environment had been the traditional thorns taking to low degree of occupation satisfaction among the physicians ( Lee et al.,2008 ) . More countries of dissatisfaction have been identified by the recent surveies which relate to decreased professional liberty over clinical determinations and decreased clip per patient. ( Murray et al. , 2001 ) . Measuring the degree of occupation satisfaction among the medical professional strictly on the footing of occupation engagement may supply a new dimension to the findings of the old surveies. The occupation engagement of the medical practicians, in this survey, is being looked at from the point of position of committedness to the profession due to its aristocracy and service to the humanity instead than due to the factors traditionally identified with this construct. Method Sample The survey covered all the physicians from House Officers to Consultants/Professors functioning in the three instruction infirmaries ( PRH, IIMC, IIDC ) of RIU ( module members non involved in clinical pattern are excluded ) . Measure The instrument, in the signifier of a questionnaire, used for probe has been adopted as follows Job engagement was measured by 9 points taken from occupation involvement graduated table of J.K.White and R.A.Ruh ( 1973 ) . Each point was measured on a five point Linkert graduated table where value of 1 corresponded to â€Å" Strongly Disagree † and value of 5 corresponded to â€Å" Strongly Agree † . Mean of the tonss obtained on each of the 9 points was calculated to bring forth a individual mark for occupation engagement. Job satisfaction was measured by 19 points taken from Cammann, Fichman and Klesh ( 1979 ) . Each point was measured on five point Linkert graduated table where value of 1 corresponded to â€Å" Strongly Disagree † and value of 5 corresponded to â€Å" Strongly Agree † . The tonss obtained on each of the 19 points were converted into mean to bring forth individual mark for occupation satisfaction. The concluding version of this questionnaire consisted of 28 inquiries utilizing five point Linkert Scale and six demographic facets. Procedure Datas were collected, on site, over a period of 10 yearss from the pre determined sample. Purpose of the survey and the questionnaires were discussed with the decision makers of the infirmaries. One officer at every infirmary, punctually briefed about the assorted facets of the questionnaire, was nominated to personally administer and subsequently roll up the questionnaires from the respondent. A sum of 140 questionnaires were distributed among the physicians at three infirmaries of which 127 completed questionnaires were received back. Therefore, the respondents represent 90.71 % of the selected population which is a reasonably high degree of response. ( Note: Non response from a few is chiefly attributed to the physicians being on leave during the period of probe ) Consequences Table 01: Correlation Matrix A Job Satisfaction Employee Involvement 0.43** **p a†°Ã‚ ¤ 0.01, n =127 Table 02: Arrested developments Analysis Independent Variable Beta t-value P-value Job Involvement 0.43 5.43 0.000 Ns =127 R Square = 0.19 ; Adjusted R Square = 0.18 ; F =29.48 ; Significance F = .000 ; Dependent Variable = Job Satisfaction FINDINGS A ; DISCUSSION The correlativity analysis indicate a important relationship of 0.43** ( **p lt ; 0.01 ) . Thus it supports hypothesis of survey that the physicians ‘ occupation satisfaction at learning infirmaries of RIU depends to good extent upon their occupation engagement. The arrested development analysis indicate that merely 19 % discrepancy in the dependant variable is explained by the independent variable. This low value indicates that there are other variables which contribute towards occupation satisfaction of physicians working at learning infirmaries of RIU. The value and T values besides show a important value which proves the hypothesis of current survey. The consequences of this survey are consistent with consequences obtained in survey conducted by Huselid A ; Becker ( 1998 ) The concerned directors and physicians at these infirmaries were asked to show their sentiment about importance of occupation engagement at their work topographic point. After elaborate treatment the ground for this important relationship is due to the fact that these infirmaries are established with a mission to pattern ethical values, focused more on a service for community instead than fiscal additions. The physicians who join these infirmaries largely come with a mission aligned with organisational aims. Hence, apart from other factors, occupation engagement is one of the key factors which make them satisfied with their occupation. The survey contributes towards explicating importance of employee engagement in occupation satisfaction. The findings besides suggested that direction might be able to increase the degree of satisfaction with increasing the interactions with physicians in staff meetings. Doctors could be interviewed to find their perceptual experiences of direction ‘s ability to turn to these issues. Most of the Pakistani organisations do non recognize the importance of occupation engagement which as per the present survey is one of the cardinal contributing factors towards occupation satisfaction. Decision The primary aim of this research was to analyze the impact of occupation engagement on the degree of occupation satisfaction of physicians functioning at the learning infirmaries of RIU. This survey has through empirical observation demonstrated that occupation engagement has a positive relationship with the degree of occupation satisfaction among the selected sample of physicians. Therefore, RIU may see following the policies which may further higher degrees of occupation engagement. This may besides be an effectual scheme to increase the degree of occupation engagement among the physicians and, in return, harvest the benefits of the higher efficiency and greater patient satisfaction. More investing in conditions that are contributing to increasing the occupation engagement would accomplish higher degree of occupation satisfaction, finally taking to increased patient satisfaction and organisational growing. Restrictions of the Study It is of import to observe that this survey is based on preset population comprising of the physicians functioning at the three learning infirmaries of RIU. As these infirmaries are being managed by the same authorization i.e. RIU, the physicians are working under the same policies and, more or less, in the similar working environment. This may restrict the generalizability of the findings to other scenes and population. Thus, farther research should try to retroflex and widen these findings to different samples in different organisational scene. How to cite Job Involvement On Employee Satisfaction Health And Social Care Essay, Essay examples

International Trade and the Enterprise †My Assignmenthelp.Com

Question: Disuses about the International Trade and the Enterprise? Answer: Introduction In the modern era of industrialisation, the agricultural subsidy can be termed as the order to the time so that agricultural industry can receive substantial support from the government of the respective countries. Precisely, the agricultural subsidy is paid to the farmers and businesses associated with agriculture sector by the government. The aim of the agricultural subsidy is to offer supplementary measures so that the income of the farmers can be protected. Also, the agricultural subsidy has been delivered to the target audience to manage the supply side of agricultural commodities (Paiva, 2008). Invariably, the subsidy has made a substantial influence on cost management of the agricultural products. In a broader perspective, the study has been evaluated describing the positive as well as negative aspects included in agricultural subsidies in different nations. The study mainly investigates the scenario of agricultural subsidies offered by the government of Australia, the United States of America, and China respectively. Based on the reports of the investigation, the subsidy scenario of the economies has been analysed in the study paper defining the positive and negative aspects (Paiva, 2015). Although many of the economists have argued against subsidies provided to the agricultural sector, it can be identified as one of the most comprehensive factors influencing the productivity and cost management of agricultural commodities worldwide. Subsidies in Agriculture Sector Australia The Australian government has taken strong initiatives by providing infrastructure subsidies, export subsidies, and labour subsidies towards the agricultural industry. Meanwhile, the leading aim of agricultural subsidies in Australia is to influence the cost and supply of agricultural commodities. Apart from that, Australian Government supports agricultural subsidies in case of structural changes in the industry. Decisively, the agricultural industry in Australia has faced significant challenges. For instance, lack of skilled labours can be defined as one of the major issues affecting the productivity of the sector (Batt, 2015). Therefore, labour related subsidies have been offered by the government influencing the efficiency of the industry. Reportedly, Australian agricultural sector receives government subsidies of as low as three percent. In the underlying, the section, the positive and negative aspect of agricultural subsidies in the target economy has been analysed. Positive Aspect Consistent Income of farmers: The Australian Agricultural Policy has somewhat supported the income status of the farmers by offering subsidies. Though the offered subsidies are considerably low in compared to the other sectors, the agricultural subsidy has substantially supported the consistent income of the farmers associated with the agricultural industry (Lokhorst, Staats, van Dijk, van Dijk, de Snoo, 2011). Notably, the Australian agricultural subsidies are not significant for the long-term viability of the industry. Manage Supply of Agricultural Commodities: By offering subsidies to the farmers, Australian Government has tried to manage the supply of agricultural commodities. Precisely, subsidies encourage the farmers to increase the production so that the right amount of agricultural products can be produced to meet the requisite of the target population (Ashra, Chakravarty, 2007). Such initiatives have also boosted the economic status of the country as well. Negative Aspect Government Interventions: In the case of the Australian market, the intervention of the government in the agricultural sector has been taken in a negative way by the major crop producers (Batt, 2015). As the intervention of government can dictate the terms of cost and supply of the agricultural products, the role government subsidies have been questioned. Inconsistency in subsidy: On the other hand, Australian government offers subsidies towards selected crops. As a result of the consequences, unsubsidised farmers have suffered during the production of crops (Foust-Meyer, O'Rourke, 2015). Therefore, unsubsidised farmers have to quote higher offer price towards the purchasers. Hence, the inconsistency in subsidies can affect the farming business of many farmers in an adverse way. The United States of America In the United States of America, the scenario of agricultural subsidy is substantially different to that of Australia. In order to stabilise the farm income, the US Government has offered around US$60 billion every year to the industry farmers (Babic, Milosevic, Maksimovic, 2015). Moreover, the US Farm Bills have gone against the economists who believe that the country does not need to provide a subsidy towards the agricultural sector. Although the USA is not an agricultural-centric economy, such subsidy policy has helped the farmers to share the burden in their agribusinesses (Gardner, 2009). In the underlying section, the positive and adverse aspects of the US agricultural subsidy have been illustrated. Positive Aspect Stabilise Infrastructure in Agricultural Sector: By providing financial aid to the US farmers, the government has helped the farmers improving the infrastructure in the agricultural sector. The government subsidy has been utilised by the farmers to facilitate latest farming technology and transportation system. Thus, subsidies have improved the productivity of the farming commodities in the US (Babic, Milosevic, Maksimovic, 2015). Decrease Agricultural Imports: The high amount of government fund spent on the improvement of the agricultural sector increases the productivity of crops and livestock in the nation. Hence, it helps the US economy to be self-dependent to meet the growing needs of the population. In other words, the agricultural imports decrease due to high supply in the market that helps the nation to maintain a better economic balance. Furthermore, the countries can earn foreign income by exporting the excess supply of agricultural production. Negative Aspect Harm to the poor in developing countries: The excess production of agricultural products in the developed country like the United States leads to oversupply crops and livestock. The oversupply of agricultural products reduces the price of crops in the international market. In some cases, the global price of crops even falls below the production cost in the developing nations (Gardner, 2009). Hence, the excessive subsidy of the government to the agricultural sector in the United States adversely impacts the earning of the poor farmers in the developing countries. Increase the burden on government budget: The high amount of subsidy provided to the farmers in the agricultural sector increases the burden of the US government over its annual budget. According to the new economic introduced by the US government, the Senate proposed to spend around $955 billion over the upcoming ten years, which is an important increase from the 2008 farm bill that proposed to spent around $604 billion over the ten years (Ramey, 2014). Hence, the rising expenditure of the government in the form of agricultural subsidy exerts pressure over the annual budget of the nation. China China is the third largest economy in terms of its percentage of government spending on agricultural subsidy. According to the statistical data, the country spends around 15 percent of the total annual budget on agricultural subsidy. Currently, the amount spent by China on agricultural subsidy stands at 1.6 trillion Yuan, which is equal to US$261.09 billion (Huang, Wang, Zhi, Huang, Rozelle, 2011). On the other hand, the government proposed to increase its agricultural subsidy by around 10 percent in the upcoming years. The primary reason for such high amount of spending is the increasing population of the country (Taniguchi, Tachikawa, 2006). Meanwhile, it is expected by the US government that the increasing spending of the Chinese Government on Agricultural sector will negatively impact the international trade. Positive Aspect Promote agricultural infrastructure: The high spending of the Chinese Government on agricultural sector helps to promote the agricultural infrastructure of the nation. The poor farmers are helped to learn modern techniques of farming that increases the agricultural productivity. Furthermore, the increase in the productivity of crops helps the economy to meet the growing demands of its population (Huang, Wang, Zhi, Huang, Rozelle, 2011). Decrease the dependence on agricultural import: The high productivity of crops lead to oversupply in the market. On the other hand, it helps the government to make the price of agricultural products affordable to the low income people (Keyzer, Qiu, 2017). Additionally, the high expenditure of the Chinese government on agricultural sector makes the economy capable of meeting the demand of the citizens that further reduces the dependence on agricultural import. Negative Aspect Imbalance in international Trade: The excess supplies of crops are exported to different other developing nations of the world that are poor in agricultural production. The high productivity of agricultural products in China reduces the aggregate price of crops in the international market (Huang, Wang, Zhi, Huang, Rozelle, 2011). Hence, an imbalance occurs in the international trade due to the falling price of the agricultural products. High burden on tax payers: The increasing expenditure of the Chinese government on agricultural sector increases the burden over the tax payers (Keyzer, Qiu, 2017). Around 15 percent of the tax paid to the government is used to pay subsidy to the farmers. Hence, the increase in the agricultural subsidy will further increase the pressure over the tax payers. Conclusion By considering the above analysis, it can be seen that the government of Australia spends the lowest amount in the form of agricultural subsidy out of the three chosen countries. On the other hand, China is the highest payer of agricultural subsidy. The subsidy paid to the farmers helps the government to control the production of crops in the nation. Additionally, it is an economic policy that is used to control the price of agricultural products in the nation. Hence, it is important for the Australian government to increase its agricultural subsidies to promote the sector. However, China and the United States must put a check on its agricultural subsidy to reduce the pressure over the tax payers and maintain a balance in international trade. References Ashra, S., Chakravarty, M. (2007). Input Subsidies to Agriculture: Case of Subsidies to Fertiliser Industry across Countries.Vision: The Journal Of Business Perspective,11(3), 35-58. Babic, V., Milosevic, B., Maksimovic, G. (2015). Economic subsidies in agriculture.Ekonomika Poljoprivrede,62(3), 693-704. Batt, P. (2015).Australia's 'five strong pillar economy': agriculture.The Conversation. Retrieved May 2017, from https://theconversation.com/australias-five-strong-pillar-economy-agriculture-40388 Foust-Meyer, N., O'Rourke, M. (2015). High Tunnels for Local Food Systems: Subsidies, Equity, and Profitability.Journal Of Agriculture, Food Systems, And Community Development, 1-12. Gardner, B. (2009).American Agriculture in the Twentieth Century(1st ed.). Cambridge: Harvard University Press. Huang, J., Wang, X., Zhi, H., Huang, Z., Rozelle, S. (2011). Subsidies and distortions in Chinas agriculture: evidence from producer-level data.Australian Journal Of Agricultural And Resource Economics,55(1), 53-71. Keyzer, M., Qiu, H. (2017). China's Agricultural Development: Challenges and Prospects.European Review Of Agricultural Economics,34(3), 421-424. Lokhorst, A., Staats, H., van Dijk, J., van Dijk, E., de Snoo, G. (2011). What's in it for Me? Motivational Differences between Farmers' Subsidised and Non-Subsidised Conservation Practices.Applied Psychology,60(3), 337-353. Paiva, C. (2008). Assessing protectionism and subsidies in agricultureA gravity approach.Journal Of International Development,20(5), 628-640. Paiva, C. (2015).Assessing protectionism and subsidies in agriculture(1st ed.). Washington, DC: Internat. Monetary Fund. Ramey, E. (2014). Farm Subsidies and Technical Change: State-Mediated Accumulation in U.S. Agriculture.Rethinking Marxism,26(4), 472-489. Taniguchi, Y., Tachikawa, M. (2006). An Agriculture without Subsidies?.Journal Of Rural Problems,41(4), 380-381.