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The influence of cultural values on economic growth
The influence of cultural values on economic growth
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
The influence of cultural values on economic growth
Cultural values play a crucial role in shaping a country’s economy and influencing its rate of growth. A country’s cultural values, traditions, beliefs, and attitudes towards work, innovation, education, and entrepreneurship all have a significant impact on the way in which its economy functions and grows.
For example, a culture that values hard work, entrepreneurship, and innovation is likely to have a more dynamic and growing economy than a culture that does not place a high value on these qualities. This is because a culture that values hard work will encourage its citizens to work hard, start businesses, and seek out new opportunities, all of which can lead to economic growth.
In contrast, cultures that do not place a high value on hard work and entrepreneurship may not encourage their citizens to take the risks necessary to start and grow businesses. This can result in a less dynamic economy that is less likely to grow and innovate.
Similarly, cultures that place a high value on education are likely to have more educated populations, which can lead to greater economic growth. An educated population is more likely to have the skills necessary to start and grow businesses, and to adapt to new technologies and innovations. In contrast, cultures that do not value education may not invest in the education of their citizens, which can result in a less educated population that is less capable of driving economic growth.
Another important cultural value that influences economic growth is risk-taking. Cultures that encourage risk-taking and reward entrepreneurial behavior are more likely to have a dynamic and growing economy. This is because entrepreneurs who take risks are more likely to start new businesses, which can create jobs and spur economic growth. In contrast, cultures that discourage risk-taking may not have as many entrepreneurs, which can result in a less dynamic economy that is less likely to grow.
In addition to these direct effects, cultural values can also influence economic growth through indirect effects. For example, cultures that value cooperation and teamwork may be more likely to have a strong and supportive social and economic infrastructure. This can lead to greater economic growth by creating a more favorable environment for businesses to start and grow.
Moreover, cultures that value honesty and integrity can create a more stable and trustworthy business environment, which can attract investment and encourage economic growth. On the other hand, cultures that do not value honesty and integrity may have a less stable business environment that is less attractive to investors and less conducive to economic growth.
In conclusion, cultural values play a critical role in shaping a country’s economy and influencing its rate of growth. A culture that values hard work, entrepreneurship, innovation, education, risk-taking, cooperation, teamwork, and honesty can create a favorable environment for economic growth, while a culture that does not place a high value on these qualities may limit the potential for economic growth. It is therefore important for policymakers to understand the cultural values of their countries and to use this knowledge to promote policies that support economic growth.
The influence of cultural values on economic growth
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QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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