Economics Assignment Economic Systems

Running head: THE CHANGING ECONOMIC SYSTEMS
THE CHANGING ECONOMIC SYSTEMS
Name of the student
Name of the university
Author note

1THE CHANGING ECONOMIC SYSTEMS
The modernization of the world and the ever-changing trends has given rise to the
multinationals. The change in the taste and the preference patterns of the consumers has affected
the growth of the multinationals. The changes that the multinationals brought about in the
internal structure are an important consideration. The most important change can be noted in the
fields of the economic status of the market and the consumer behaviors at large. Depending on
the change in the tastes and the shifts in the preference of the consumers from the necessity to the
leisure goods determines the factors of the change that is being noted in the economic structure.
The forces of the improved transportation and the communication facilities have a huge impact
on the changes that can be noted in the economic structure largely.
The industrial developments that the multinationals undertook are subjected to the
immense amount of changes in the fields of proper channels of communication and
transportation. It helped them in reducing the costs that were involved previously in undertaking
the processes. The developments are based on the modifications and the innovation in the
technology that helped in undertaking the change. The discussion aims at understanding the
transition from the historical point of view to the relevant era of the technological advancements
in order to understand the range of the change. It determines the change in the economic
structure of the society and the multinationals at the same time.
The main purpose of this discussion is to understand the changes in the social and the
economic structure and the impact of the change in the present days. Globalization has affected
the world largely. The intermingling of the people from different cultural and heritage
background is affecting the process of evolution of the change and thereby modifications have
been brought to the channels of communication procedure and the transportation of the products.

2THE CHANGING ECONOMIC SYSTEMS
It created a heavy impact on the economic structure. The following discussion aims at
understanding the evolution process and its impact on the economic structure.
The modern world with its technological advancements and the changing trends and
preferences are subjected to modifications that must be undertaken by the firms and the
companies to survive the changes and make them sustainable. The business processes are
adhering to the changes that are required to be brought about in their structure that is actually
facilitating them to undertake cost-effective measures. The measures help them in making the
processes more transparent and efficient through the modifications that they undertake in the
communication and the transportation process (Saaty & Vargas, 2013). The development of the
global economic status has been into research since the traders of the West and the East came
together to exchange goods and services with the objective of earning a return on their
investment.
The development and the involvement of the nations in the world trade have
significantly changed the economic conditions of the nation. The per capita income of the people
have increased according to the changes brought about by the multinationals in their processes
and which affected the economic status of the nations at large. The nations, which denied the
involvement in the world trade, were found to be less developing (Pejovich, 2012). Not only did
trade happen between the nations, but also the exchange of the culture and heritage. The ideas
that are being used by the companies in one nation also were exchanged with the other nations.
Therefore, a development in the economic status was noticed.
Nationalism gave way to the Bullionism where gold and silver determined the wealth and
the progress of the nation. Another form of determining factor evolved gradually where the