1. Carefully Explain the Concept of Economic Meltdown. Answer: the Term Economic Meltdown Is the Going Down of the Rate of Economic Activity of a Country, in the Simplest Term, Economic Meltdown, Could Be Called

1. C befully explain the theory of economic melt see. Answer The term economic meltdown is the going down of the rate of economic activity of a country, in the simplest term, economic meltdown, could be c entirelyed economic Go-slow just like traffic jam which grind. The first and first off action that an organization must take is to cut equal, this is because during these tough times, we all must make the utmost effort to save money, take forethought of expenses such as electricity stationery unnecessary wastage of resources in factories, authorization and other work places.One would of course face a troop of problem just there are solutions. Again instead of hammock employees, a pay cut of say 11-16% for the employees is a more(prenominal) pleasurable solution than carrying off people. The government is required to take action by cutting down taxes so that people will have more money to spend and therefore the economy can come fanny to track. 2. What are likely the caus es and effect of economic meltdown on exist of production in an organization.The likely causes of economic meltdown in cost of production in an organization are a. The culture of the people inwardly the immediate vicinity as it affects the employees, belief systems, byelaws and traditions. b. The organizational market-share and protection, its financial capabilities, resources availability, believability and goodwill c. The nations economic position, competition from internal and international organizations, supplies of production equipment and materials. . juicy rate of importation this has been a great menace to the production of a company as many commodities are imported and on the bulky run other economies benefits e. Inflation The effect of inflation is not distributed evenly in the economy and as a consequence there are short fall of money and goods. The supply of money is a major, but not the only cause of inflation, organization for economic cooperation and development.H owever, frequent economic meltdown that could not be explained scholars though deepen consumption and production of goods and services. From economic crisis of 2008 (According to the National Bureau of Economic Research) more than of the over production turned to cause deflation. f. Poor health. Due to brusque animal husbandry production and storage this demand for milk remote outstipping supplies use of other potentially harmful chemical. g. atomic power Nuclear waste production transport and cost over runs on nuclear plants due to regulatory issues.