Name Nguyen Thanh Vinh

Student ID 20200855

Assignment #1: Due March 7, 2022

Chapters 1 & 2 discuss business environments and the basics of Economics. After studying
chapters 1 & 2, please conduct the following research and prepare answers in less than two
pages.
1. Come up with a question on the two chapters, and describe why you came up with the
question, and how you will explore the question in the future.
Question: In capitalism, the freedom in trading is promoted, so how can we
prevent the monopoly (or complete control) of a certain company over the
market?
Motivations: I have heard about the capitalism and the freedom in market
for a long time, but never have a clear clues about how it started, how it has
been growing, and how much it affects the world. I find the idea of free
trading very reasonable because intuitively, I find freedom is somewhat a
basic of development. When thinking more about free market, people can
have their own decision on their business, but it also mean they have their
freedom to decide how their business affect others. That, I think a important
issue. About exploring this issue, I am reading more about capitalism and the
history of economy to find out the answer.

2. Conduct research on your home country’s economic situation in 2021. Identify trends
of key economic indicators (e.g., GDP, Unemployment rate, CPI, and/or others) of
your home country during last 3 years, and discuss how the economic situation is
likely to be in the near future. Don’t forget to incorporate appropriate data, and make
sure to include the information where you got the data from.
Vietnam’s GDP 2017-2020 (Unit Billion $)
Unemployment rate 2017-2020

CPI
 Government budget deficit

We can see the GPA increase consistently over years, there is a bit lower in 2019 &
2020. That’s present the constant development in the country. The unemployment
rate increases rapidly in 2019 & 2020, this can be mainly because of the COVID-19
pandemic preventing the running & expand of many businesses. Also, we can see the
government budget deficit increase over years, this signify more spending from
governments, especially in 2019 & 2020.

In near future, the GDP is expected to keep increasing & unemployment rate
decreases as the society is getting used to “the pandemic” life, government is easing
restriction on many business operations. Also, considering Vietnam is a safe place for
growing business, there has been recently a lot of investment in Vietnam for
development of Technology and other Exporting products. That will create strong
boost for market trading, and more value will be created in near future.

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