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Economics Commentary - article on the Haitian Earthquake

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Introduction

Economy Internal Assessment Economic Commentary number: Tile of Extract: Haiti quake toll rise to 230,000 Source of Extract: BBC News Date of Extract: 2010/02/11 Word Count: Date of the Commentary was written: 10/3/2011 Section of syllabus to which the Commentary relates: Candidate Name Candidate No. IN JANUARY last year, the quake causes the 2004 Asian tsunami, which kill 250,000 people and 300,000 injured. People were living under sheeting strung across wooden poles. There were too many vulnerable homeless people that aid agency can't fit them in tens. People are trapped in supermarkets, debris and so on. I feel really sorry for them and I hope casualty's family can be rest in peace. First of all, there will be a change in Haiti's economy because there's a huge effect of Haiti's production. ...read more.

Middle

PFF1 is Haiti's PPF before tsunami and PPF2 is Haiti's PPF after tsunami The PPF shift to the left means there's decrease at both actual and potential output. Actual output is what the country is currently producing and potential output is the maximum outputs you can produce will all currently resource. Because Haiti lost a lot of capitals, land, labor and enterprise, its production is running down. Therefore, it's PPF shifts inward. There's also economic decline and economic deterioration. Economic decline is the percent decrease in real GDP per annum and economic deterioration is decrease in living standard for everyone in the country. There is a shift of PPF because of the environment factors (earthquake and tsunami). There was a change of Haiti people's demand because of the tsunami and earthquake. ...read more.

Conclusion

Evolution Haiti's earthquake and tsunami are lost and a pain we would never wanted to happen and they took millions of people's life away and destroyed thousands homes. Here are few solutions I think it might help to raise back the economy of Haiti. First of all is asking UN for help. The United Nations (UN) is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace. United nation will usually provided aid and food for refugees. Second is building hospitals and factories. Recovering labor and capital is an important step to get the economy back on track. Education is more important in Haiti than other countries. They need new blood to contribute for the society and that's where education is needed. 'Good people equal good country'. ?? ?? ?? ?? ...read more.

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