The Impact Of Fast Fashion On Business Environment

Introduction The continually increasing globalization in the world has linked many countries together and the borders have become inconspicuous. Many firms cooperate in a global market, which leads to an increased amount of transnational corporations acting in a global surrounding (Douglas Wind, 1987). In the fashion industry, the business environment is especially competitive and firms have to adjust their business practices rapidly such as products and launching time of each collection on the basis of the demand of current market (Lowson, King Hunter, 1999). Companies in the fashion industry like ZARA, Topshop and HM have emerged a new trend — â€Å"fast fashion† that combines two main characteristics: short lead times and trendy design products (Passariello,2008 ; Rohwedder Johnson, 2008). However, fast fashion leaves behind some issues, which are not beneficial to environmental protection and human costs. In fast fashion industries, it requires companies to complete missions in a short time, some fast fashion companies use unethical acts in order to complete producing on time which may result in environmental issue and appears unfair labour practices. In addition, Luz (2007) pointed out that globalization provided fast fashion industries a chance to produce clothes at lower prices so that they can sell clothes with a cheaper price. This result in many customers considers fast fashion clothes to be disposable. Therefore, this essay will first explain what is fastShow MoreRelatedSpeech On Fast Fashion964 Words   |  4 Pagesdeeper in the world of fast fashion I found out of the vicious cycles that our clothing is manufactured in. B. Relevance: The brands I researched are some many of you have probably heard of. C. Credibility statement: A university of Georgia professor gave an hour-long ted talk talking about her experiences of working and traveling to different countries seeing the fast fashion industry at first hands. She now teaches about fashion sustainability and the cycles of the fast fashion market. D. CentralRead MoreThe Issue Of Sustainability Of The Apparel Industry Essay1421 Words   |  6 Pagesday. In our generation, fast fashion is in. It’s ok to have multiple shirts or shoes of the same color. It’s actually ok to throw away unwanted apparel. Apparel companies are beginning to focus on sustainable fashion, also known as eco fashion. Apparel, fashion, and textiles is the most polluting industry in the world. Every stage, that a garment goes through, uses up and threatens our resources. Review of Literature Sustainability has become a major issue in the fashion industry. The global apparelRead MoreThe Effects Of Fast Fashion On The World1547 Words   |  7 Pages The Effects of Fast Fashion on the World This papers purpose is to teach fashion heavy consumers on the real price of fast fashion and how buying it affects the environment. This type of audience can be anyone who partakes in the buying of well-known cheap retail stores that have a large audience of being fast and obtainable. These consumers should have the information on how fast fashion effects are environment so it could possibly alter their buying habits to be eco-friendlier but buying eitherRead MoreCarbon Emissions And Its Effect On The Environment1733 Words   |  7 Pagesto HM’s annual reports, more than 50% percent of carbon emissions are from their transportation between the factories and stores, therefore, choosing more sustainable ways in transportation is one of a good resource to reduce the hurt for the environment. There are highly percentages of their shipments shipping via railway or sea, because sea transportation and train are relatively unpolluted types in transportation. Since using this way in transport, it reduced more than 5 million tons of carbonRead MoreManaging Product Procurement : Supply Chain1566 Words   |  7 Pages8. Risk management The most frequent activity in supply chain is to manage product procurement; supplies means a process from manufacturer to have inventory and to meet the market demand. The purpose to supply is to use the lowest cost but provide fast, accurate and stable delivery date to respond customers orders. In the supply chain, Possible risks include In the supply chain, supplier and manufacturer could meet such as supply risk, strategic risks and operational risk. The main risk comes fromRead MoreThe Clothing And Fashion Industry774 Words   |  4 PagesConsumers in the Fashion Industry The topic I chose to write about was the clothing and fashion industry. Clothing is something that everyone in modern society needs, and something that a few consumers care very much about. The number one thing clothing is used for, besides covering and protecting our bodies, is to express our personalities, socioeconomic status, and how we feel on a given day. Because the the demographic for people who buy clothes is so large, it has a lot of variation. PeopleRead MoreFast Fashion Vs. Slow ( Luxury ) Fashion1291 Words   |  6 PagesContemporary Design Issues Stage One - Initial Research Essay Fast Fashion vs. Slow (Luxury) Fashion By Alanna Mitchell In 2014, Jean Paul Gaultier retired from his Ready-To-Wear line. In an interview with The Associated Press he said, Too many clothes kills clothes... Fashion has changed.† (1) This change that Gaultier is referring to is known as â€Å"Fast Fashion†. It is a phenomenon within the fashion industry that â€Å"has made its way into Australian consumers’ wardrobes over the past five years†Read MoreSupply Chain Management For Fast Fashion Industry1623 Words   |  7 PagesA study in sustainable conscious collection in the supply chain process in the fast fashion segment of fashion industry; a case study based approach focusing on HM and its main competitors. Abstract In recent years, the rapid changes in the fast fashion industry, a highly concerned about environmental issues as well as the sustainability for the company. Thus, it is a big challenge for the company s global operations to think about how to use the market intelligence, sensitive response and do moreRead MorePest Analysis of Gap Inc1178 Words   |  5 PagesPEST Analysis for GAP Politics Globalization has been a current trend to every industry which also includes the apparel and fashion industry in which is due to the construction of import international facilities and establishment. It has been noted that when products are traded, regulations and policies are present. With these regulations and policies, company’s operations may be impaired. Some countries also control the entrance of foreign companies which would also affect the process ofRead MorePest Analysis of Gap Inc1171 Words   |  5 PagesPEST Analysis for GAP Politics Globalization has been a current trend to every industry which also includes the apparel and fashion industry in which is due to the construction of import international facilities and establishment. It has been noted that when products are traded, regulations and policies are present. With these regulations and policies, company’s operations may be impaired. Some countries also control the entrance of foreign companies which would also affect the process of operation

Alcoholism Is Not Only A Disease - 862 Words

Alcoholism is not only a disease to the alcoholic himself, It also disease to many people including family members. In numerous ways, for instance it appears to cause by the devastating assault of the physiology of the body by repeated episodes of heavy drinking as a result in the competence to feel the alcohol on average. Alcohol normally composition and social pressures may aggravate the disease. It is characterized by a typical progression of drinking behavior that requires an average of twelve a half year of drinking to reach effusive developed overt symptoms and an average of eighteen years to accomplish the stage of weakening. It has seen been the most frequently in those of the Eskimo or American Indian. Among those of Caucasian decline, the Irish, French and Scandinavians exhibit a far higher incidence than do other European population groups the disease is further characterized by physical damage I n all systems of the body the most serious. Within the eyes the public, an alcoholic drink is purely a social cocktail. In realism, it is a social drug. (Levinthal pag192 Alcoholism is also a chronic progressive, deadly disease characterize by the loss of manage in excess of alcohol. Although is being a deadly. Millions across North America suffer the effects of alcohol abuse and addiction. It is a disease that knows no social or economic difficulty. Is no exception of Lawyer,or legal professional In fact, the legal profession has a rate of alcoholismShow MoreRelatedIs Alcoholism a Disease?691 Words   |  3 PagesAlcoholism as a disease? Alcoholism today is not considered as a moral failure, majority of the people view it as a disease. Alcoholism is a chronic primary and progressive disease and it can also be fatal in some instances. It is termed as a chemical disease as it breaks down in the stomach as well as bringing a different effect on the brain of the alcoholic as compared to a non-alcoholic. Alcoholism can be classified as a biological disease since the chemical predisposition of alcohol consumptionRead MoreAlcoholism : Is Alcoholism A Disease?929 Words   |  4 PagesAlcoholism has raised many debates over the truth of its nature. Many scholars argue that alcoholism can be treated as a disease. Such approach to defining alcoholism means denying that alcohol abusers own a choice. In consequence, the treatment related differs and may or may not actually help alcoholics recover. A wrong diagnostic of this addiction can lead to serious health issues; therefore, it is vital to answer the following question: Is a lcoholism a disease? Most experts in this field criticisesRead MoreEssay on Should Alcoholism Be Considered a Disease?1282 Words   |  6 PagesShould Alcoholism Be Considered a Disease? Many articles have been written which ask the question: Is alcoholism a disease or not? We will look at both sides of this issue, see what the experts have to say and come to realize that alcoholism should be considered a disease. In 1849, Swedish physician, Dr. Magnus Huss coined the term â€Å"alcoholism† to describe a diseased condition caused by excessive consumption of alcohol. Also in 1849, a French doctoral candidate, M.Gabriel, first used the termRead MoreAlcoholism : The Misuse And Addiction1361 Words   |  6 PagesAlcoholism: The Misuse and Addiction â€Å"I know my limit†, â€Å"Just one more drink†, and â€Å"I’m not drunk† are common phrases people often associate with being an alcoholic. While is true that some alcoholics can use such phrases, that is not what makes them an alcoholic. Alcoholics or rather anyone who happens to drink a little too much, are marked as being alcoholics. But what does it really mean to be an alcoholic? Or better yet, what does it mean to suffer from Alcoholism? Over the years, a controversialRead MoreFactors, Symptoms and Treatment of Alcoholism Essay1199 Words   |  5 PagesAlcoholism is a chronic disease with genetic, psychosocial, and environmental factors. The disease is often progressive and fatal if left untreated. It is characterized by impaired control over alcohol use despite adverse consequences, and distortions in thinking. There are critics who disagree with calling Alcoholism a disease despite the definition on the word disease which means an involuntary disability but the fact that alcoholism is a disease is widely accepted within the medical and scientificRead MoreIs Alcoholism Really a Disease?1042 Words   |  4 PagesStudies of Aging Neurodegenerative Disease and Alcoholism†, Eberling and Jagust suggest that for the past 200 years, people have classified alcoholism as a disease, but recently a large portion of the medical community has started to disagree with this diagnosis. Despite common misconception, Alcohol Anonymous was not the originator of the classification of Alcoholism as a disease. Dr. Benjamin Rush created the concept in 1784, and alcoholism has been considered as a disease since then (Eberling and JagustRead MoreThe Effects Of Alcoholism On The Alcoholic874 Words   |  4 PagesThe best way to fix alcoholism is to treat it as a disease that needs to be cured. Alcoholism is definitely a problem and causes harm to both the alcoholic and the people around them, but it does so in a much different way than a disease such as cancer. Instead, alcoholism is a disease of both physical and mental dependence. Most diseases are treated by surgery or medication, but the only way to fix the problem of alcohol abuse is by changing the mindset of the alcoholic. This is why HazeldenRead More Alcoholism Essay1075 Words   |  5 Pages Alcoholism, or alcohol dependence, is a chronic disease, which is common in our world today. In the United States, 1 in every 13 adults is either an abuser of alcohol or an alcoholic. This disease includes a craving from the victim in spite of any problems or consequences, which they may have or have had. Consequences of this disease are often very severe; for example, job problems frequently arise. In addition to serious job dilemmas, victims of this disease often get into mischief with the lawRead MoreAlcoholism : Alcoholism And Drug Dependence1054 Words   |  5 PagesAlcoholism is a problem affecting millions of families around the world. Based on the National Council on Alcoholism and Drug Dependence Inc., Alcoholism is considered a family disease due to the amount of stress that family members go through (NCADD, 2016). Alcoholism is an addiction that requires treatment and support from family members and friends. It is important, to understand the effects that alcoholism can bring to the alcoholic and to the family members. Some of these effects cause healthRead MoreAn Alcoholic : Societal Views Vs. Reality1103 Words   |  5 Pageswhen it comes to alcoholism, in order to understand Alcoholism properly we must consider both the disease and the treatment. In 1956 the AMA (American Medical Association) classified Alcoholism as a disease. The association’s definition of alcoholism is a primary, chronic disease with genetic, psychosocial, and environmental factors influencing its development and manifestations. In this case the term â€Å"primary† is used to indicate that it is a disease that can lead to other diseases such as Cirrhosis

Theme For English B By Langston Hughes - 1273 Words

Throughout my life I have experienced many trials that are quite different to that of the narrator in â€Å"Theme for English B†; however, there are some similarities such as his life experiences, that can be compared to those of the narrator. In this poem Langston Hughes writes of a man who is given an assignment with very abstract and philosophical instructions for writing this paper. Accordingly, the narrator has some difficulties at first because he thinks of how different he and the professor is, saying â€Å"It’s not easy to know what is true for you or me at twenty-two, my age. But I guess I’m what I feel and see and hear† (16-18). Consequently, the narrator realizes the difference between his life in Harlem and the life of his white professor. This causes the narrator to be skeptical of how the professor may receive the narrators’ interpretation of the assignment. Though the narrator and I share similar characteristics and experiences it is the differences that make the most impact throughout this paper. Three major differences are his teacher’s assignment, the colleges view of him, and his life in general. While Hughes does provide much background information on the narrator’s past, he gives multiple examples of his life a student and as a citizen living at the YMCA in Harlem. Initially, the professor’s assignment provides a unique view on what normal diagnostic tests usually are, and the instructions for his assignment allow me to think of what I would write as aShow MoreRelatedLangston Hughes Theme For English B845 Words   |  4 PagesIn â€Å"Theme for English B† Langston Hughes dramatizes race and self-identity. Hughes is struggling to relate himself to his teacher and everyone around him, so he starts off by telling readers about his background such as his age and where he has lived. â€Å"I am twenty-two, colored, born in Winston- Salem† (2). Through the first stanza of the p oem we know that Hughes is living through a time where race is a big issue and not too many African American adolescents are in school like he is. He is learningRead MoreLangston Hughes Theme For English B1332 Words   |  6 PagesMy response to Langston Hughes in Theme for English B is we have a variety of interests that are relatable to both of us. We encountered and conquered the greatest battles in our lives. We confronted segregation and rejection in view of the color of our skin and identity. After reading his poem, I was reminded of how I experienced discrimination and rejection throughout public school and I was labeled an outsider. I was discriminated and rejected not only just the color of my skin, it’s becauseRead More Analysis of Theme for English B by Langston Hughes Essay1793 Words   |  8 Pages Langston Hughes was an African American poet and author who joined other black artists to break literary barriers during the civil rights movement. The poem entit led Theme for English B was written thirty years or so after the birth of the Harlem Renaissance, but still embodies why the Renaissance had originated in the first place. I believe this poem reflected on Hughes life in general, but more importantly on the fight against the ignorance that created discrimination. James Mercer LangstonRead MoreAnalysis Of Langston Hughes Poem Theme Of English B911 Words   |  4 PagesThe more you know, the greater you individual power becomes. Upon reading Langston Hughes poem â€Å"Theme of English B† I understand that knowledge does not discriminate or separate people based upon race, age, or educational level. However, it brings us together and allows us to grow. Once you obtain any form of knowledge from anyone power is gained. Every time you quire new information you become powerful. â€Å"Theme of English B† brings light that we as a nation learn from each other if we are open mindedRead MoreAnalysis Of `` Girl `` By Jamaica Kincaid And Theme For English B By Langston Hughes1228 Words   |  5 PagesHow can two completely different texts convey the same message while covering different issues? In this paper I will argue that â€Å"Girl† by Jamaica Kincaid and â€Å"Theme for English B† by Langston Hughes are both addressing the same issue but in different ways. I will look at the similarities of characters, symbolism, and text found in the story. Even though the texts are different, th ey are both revealing social issues found in society. â€Å"Girl† by Jamaica Kincaid is a short story that consists ofRead MoreAnalysis Of Langston Hughes s Poem Theme From English B 1592 Words   |  7 Pages What Lies Beneath Langston Hughes was an American poet who spent a majority of his life growing up in Cleveland, Ohio as well as Lincoln, Illinois. Hughes was able to travel across the states and to several different countries which allowed him to experience diversity and hardships like poverty and racial discrimination. His teenage years was around the time that he would start to write poetry. The poetry that he wrote throughout his life incorporated Black culture and revealed his deeper viewsRead MoreLangston Hughes Theme for English B and Gerald Graff’s Hidden Intellectualism882 Words   |  4 PagesLangston Hughes â€Å"Theme for English B† and Gerald Graff’s essay â€Å"Hidden Intellectualism† portray racial separation and intellectual isolation, respectively. Hughes’ essay is poetic justice, and Graff’s is a call to arms. Hughes’ is short and to the point and is simply what it is, no arguing or convincing, just raw thought. Graff’s is hig hly intellectual; offering examples and reasoning, and it could even be seen as a not-quite-finished plea to the nation to reevaluate our education system. But theRead MoreLangston Hughes: Spokesman for Civil Rights960 Words   |  4 PagesTracy Johnson Mr. Bush English Comp. 11 26 October 2012 Langston Hughes: Spokesman for Civil Rights The purpose of this essay is to examine the theme of three Langston Hughes poems; â€Å"I. Too,† â€Å"Mother to Son,† and â€Å"Theme for English B.† The theme of these three essays is civil rights. Langston Hughes was born in Joplin, Missouri in 1902. His parents separated early in his life, he lived with his mother in Kansas City. Langston Hughes attended High School where as a senior he wrote, â€Å"The NegroRead More`` True Freedom `` By Langston Hughes1163 Words   |  5 Pagesup for beliefs. Langston Hughes, an American poet known for his writing during the Harlem Renaissance period said, â€Å"In all my life, I have never been free. I have never been able to do anything with freedom, except in the field of my writing.† (citation). As a young African American man, Hughes faced man obstacles, but writing gave him a sense of freedom of expression. His poetry reached people of various social, cultural, and racial backgrounds. Hughes’ poetry has timeless themes that give insightRead More‚Äà ºEvaluation of ‚Äà ²Critical Essay on ‚Äà ²Theme for English B‚Äà ´Ã¢â‚¬Å¡Ãƒâ€žÃƒ ´Ã¢â‚¬Å¡Ãƒâ€žÃƒ ¹1291 Words   |  6 Pages â€Å"Evaluation of ‘Critical Essay on ‘Theme for English B’’† â€Å"Critical Essay on ‘Theme for English B’†, written by Chris Semansky, is just that: an analytical essay on Langston Hughes’ poem â€Å"Theme for English B†. The article is a dissection of the author’s insight on the subject matter. The paper provides a detailed assessment of the content of Langston Hughes’ work by providing the reader with perspective on Hughes’ possible thoughts about people and the way they view themselves as well as others

Macroeconomic Data Analysis of Singapore

Question: Analysis the Macroeconomic Data of Singapore. Answer: Introduction Singapore is regarded as one of the most attractive destinations in the world for business. The companies from all around the world seek to set up their business in Singapore due to stable economic and political environment. The economic policies of the country focus on increasing trade and making the commercial sector transparent. In order to analyze the economy of Singapore in more detail, it is crucial to make an assessment of the macro economic factors such as gross domestic product, per capital income, unemployment rate, and inflation rates. The gross domestic product provides evaluation of the overall wealth of the economy while inflation indicates the rise in the price levels of the goods and services in the country. Further, the analysis of per capital income gives an overview of the living standards of the residents of the country. Apart from these factors, unemployment rate is also a crucial macro economic factors that provides overview of employment prosperity or problem o f the country. In this context, the essay presented here provides an analysis of the economy of Singapore with the assessment of macroeconomic factors mentioned above. Production Output Performance Analysis Definitions and Meaning The output performance analysis of an economy relates to analysis of the gross domestic product (GDP). The GDP refers to the total value of goods produced and services rendered in a fiscal year by the country. The value of GDP is computed by adding together the amount of consumer spending, government spending, investments of the country, and net exports. Further, in order make the trend analysis meaningful, the amount of GDP is adjusted for inflation converting the GDP to real GDP. The GDP per capita is computed by dividing total real GDP by the population of the country. Performance and Trend Analysis of the Singapore Economy The Singapore economy has grown rapidly in the past decade as depicted from three times increase in the real GDP over the period. The real GDP of Singapore was $127.42 billion in the year 2005 which increase neatly three times to $306.64 billion in the year 2014. The detailed information about the real GDP and per capita GDP is presented in the table given below: Table 1: Gross Domestic Product Data of Singapore: 2005 to 2014 Year Real GDP ($ billion) Growth rate GDP per capita ($) Growth rate 2005 127.42 29,869.85 2006 147.80 15.99% 33,579.86 12.42% 2007 179.98 21.78% 39,223.58 16.81% 2008 192.23 6.80% 39,721.05 1.27% 2009 192.41 0.09% 38,577.56 -2.88% 2010 236.42 22.87% 46,569.68 20.72% 2011 275.22 16.41% 53,093.67 14.01% 2012 289.27 5.10% 54,451.21 2.56% 2013 300.29 3.81% 55,617.61 2.14% 2014 306.34 2.02% 56,007.29 0.70% (World Bank, 2016) Figure 1: Real GDP ($ billion): Singapore From the data presented in the table shown above, it could be observed that the figure of real GDP of Singapore has been increasing continuously. However, the grow rate as depicted in the chart can be observed to be fluctuating. The grow rate was massive in the year 2006 and 2007, in these years, the GDP grown by 15.99% and 21.78% respectively. However, in the year 2008 and 2009, GDP growth rate slopped downwards reaching 6.80% and 0.09% respectively. This severe fall down in the rate was the impact of global financial crisis that occurred in the year 2008-09. However, Singapore came back strongly overcoming the global financial crisis. The growth rate again picked up reaching 22.87% and 16.41% in the year 2010 and 2011 respectively. However, again in recent years, it was observed that the Singaporean economy is struggling with the GDP growth as depicted from the low growth rate of 2.02% in the year 2014. Further, the growth rate of GDP per capita has also been observed to be fluctua ting in tandem with the growth in total GDP. The decrease in GDP per capita of Singapore is not only due to decrease in GDP with also because of increase in the population. Governments Measures Enhance Output Growth Singapore was one of the Asian countries which got affected by the global financial crisis of 2008-09 severely. In order to counter the recession caused by the global financial crisis, the government of Singapore took unprecedented measures by changing its monetary and fiscal policies (Liang, 2010). In the year 2009, the government announced job credit scheme to provide financial assistance to the companies as compensation to retain the employees. Further, the government also announced a special risk sharing program that helped in leveraging the risk position of the financial sector entities. Apart from that the Monetary Authority of Singapore (MAS) also took initiatives to improve the liquidity position of the banks and financial institutions. The MAS leveraged margin requirements of the banks to increase their liquidity (Liang, 2010). Taking these all measures, the government aimed at infusing more money in the economy so that the output (GDP) could be increased. Labor Market Analysis Definitions and Meaning The unemployment refers to the situation of being jobless. The rate of unemployment signifies the portion of workforce that is eligible for job but does not have the job in their hands. The analysis of rate of unemployment is crucial from the macroeconomic analysis perspective as it provides the understanding of the economic health of a country (Baumol Blinder, 2008). There are different reasons that cause unemployment and based on these reasons there have been defined different types of unemployment. Primarily, the unemployment is classified into three categories such as structural, frictional, and cyclical. The structural unemployment arises commonly in every economy. It arises because certain job skills are considered outdated on inventions coming in the market (Baumol Blinder, 2008). The frictional unemployment is caused due to the workers being sitting idle deliberately. Some people wait for the right job opportunity and thus, they do not join the job until they get the right job. The Cyclical unemployment is crucial for every economy because this occurs when the economy is slopping down. The problems connected with the economy cause cyclical unemployment to arise (Baumol Blinder, 2008). Unemployment Trend in Singapore Reducing and keeping the unemployment under control has been the primary goal of the government of Singaporean in the past decade. In the year 2005, the unemployment rate of Singapore was observed to be 4.10% which reduced significantly to 1.70% in the year 2014. The detailed analysis of trend in unemployment rate is presented in the table and chart given below: Table 2: Singapore Unemployment rate Singapore Unemployment rate Year Unemployment rate Rate 2005 4.10% 2006 3.60% 2007 3.00% 2008 3.20% 2009 4.30% 2010 3.10% 2011 2.90% 2012 2.80% 2013 2.80% 2014 1.70% Figure 2: Trend in Singapore Unemployment Rate From the chart, it could be observed that the unemployment rate in Singapore is showing downward trend, which is good for the economy. The unemployment rate decreased from 2005 to 2007 and then it increased slightly in the year 2008 and 2009. The rate rose from 3% to 3.20% in 2008 and then further increased to 4.30% in the year 2009. The global financial crisis and recession occurred in the year 2008 was the main reason for increase in the unemployment rate. However, recently, in the year 2014, the unemployment rate has been observed to be under control at 1.70%. Type of Unemployment in Singapore The structural and frictional unemployment can not be eliminated in an economy. These will always be there in the economy as long as the unemployment rate does not become zero. However, the cyclical unemployment arises due to economy downturn and recession like situations. In the recent years, the Singaporean economy has been observed to be running smoothly without any severe economic problems. Therefore, the unemployment prevailing in Singapore can be said to be of two types such as structural and frictional (Econs, 2017). Governments Measures to Achieve Full Employment The government has made changes in the fiscal and monetary policies from time to time to control the unemployment in the country. In order to overcome the shock of global financial crisis of 2008-09, the Singaporean government adopted expansionary fiscal and monetary policies. The government made every effort to boost up the economy and create demand in the market so that more job opportunities can be created (Econs, 2017). Price Level Analysis Meaning and Causes of Inflation The rate of inflation is the macroeconomic factor being used for analysis of price levels of a country. The analysis of rate of inflation reveals the decreases or increases in the prices of goods and services over the period of time. Further, in other words, the inflation also refers to the purchasing power of money (Hamouda, 2011). When the rate of inflation goes up, the purchasing power of money is decreased conversely when the inflation goes down, the purchasing power of money increases. There are two crucial aspects having bearing on the inflation rate such as demand of goods and services and their supply. When the demand is excessively higher than the available supply, the prices of goods and service will increase causing the inflation to rise. This implies that when the economy is growing at fast rate, the inflation rate will be on higher side. Further, the rise in cost of manufacturing goods or providing services is also the reason for increase in the inflation rate (Eggertsso n, 2003). Inflation Trend in Singapore The inflation has been under control in Singapore in the past decade as depicted from the low rate of inflation. The trend in inflation over the period of past ten years from 2005 to 2014 could be observed from the table and chart given below: Table 3: Inflation in Singapore Year inflation (CPI) rate 2005 2.23% 2006 1.72% 2007 5.86% 2008 -1.49% 2009 3.52% 2010 -0.05% 2011 1.11% 2012 0.73% 2013 -0.70% 2014 0.04% Figure 3: Trend in Inflation Rate Singapore From the chart presented above, it could be observed that the rate of inflation is showing fluctuating trend over the period of 10 years. In the year 2005, the rate of inflation in Singapore was 2.23% which decreased to 1.72% in 2006 and then increased to 5.86% in 2007. In the year 2008, the rate of inflation went negative depicting deflation in the economy. The deflation was also observed in the year 2010 when the rate of inflation when to -0.05%. The deflation in the year 2010 was the impact of global financial crisis and recession in the economy in the year 2008-09. In the year 2011, the rate increased to 1.11%, however, it again went negative reaching at -0.70% in the year 2013. Causes of Inflation in Singapore In the past few years, the Singapore economy has got hit by the deflation. The rate of inflation has gone negative on many occasions leading to deflation in the country. The main reason for deflation in the economy has been observed to be the decrease in the prices of crude oil. Consequent upon the decline in oil prices, the cost of accommodation and transportation reduced significantly (Min, 2014). Governments Measures to Control Inflation The economy of Singapore has been facing low inflation or even deflationary situations on occasions. Considering the state of economy, the government has taken steps from time to time to keep the rate of inflation under control and balanced. In order to revive the economy from deflationary situation, the government is striving to make the fiscal and monetary policies expansionary. However, there have not been seen any significant improvement in the regards to the rate of interest (Focus-economics, 2017). In the past 5 years the rate of interest has been observed to be around 0.25% as depicted below: Figure 4: Interest rate in Singapore (Focus-economics, 2017) Conclusion This essay discusses the macroeconomic factors such as gross domestic product, unemployment rate, and the rate of inflation in the context of the Singaporean economy. From the overall discussion carried out, it could be articulated that the Singaporean economy is facing slow down as far as growth rate of GDP is concerned. Further, the per capita income of the country has also been observed to be falling down, which indicates decline in the living standard of the residents. The slow economy growth is affecting the unemployment and inflation adversely. The inflation rate of Singapore has been very low depicting deflationary conditions in the economy. The major point for consideration of the Singapore government is to enhance the economic growth by adopting expansionary fiscal and monetary policies. There is a need to increase the flow of money in the market. References Baumol, W. Blinder, A. 2008. Economics: Principles and Policy. Cengage Learning. Econs. 2017. Singapore Unemployment. Retrieved March 10, 2016, from https://www.econs.com.sg/essay-writing/5-singapore-has-maintained-an-annual-unemployment-rate-at-approximately-2-since-2010-it-was-1-9-in-2013-discuss-the-effectiveness-of-policies-that-singapore-government-currently-adopts-to-maintain/ Eggertsson, G.B. 2003. How to Fight Deflation in a Liquidity Trap: Committing to Being Irresponsible. International Monetary Fund. Focus-economics. 2017. MAS leaves policy band unchanged at October meeting. Retrieved March 10, 2016, from https://www.focus-economics.com/country-indicator/singapore/interest-rate Hamouda, O.F. 2011. Money, Investment and Consumption: Keynes's Macroeconomics Rethought. Edward Elgar Publishing. Heritage. 2017. 2017 Index of Economic Freedom: Singapore. Retrieved March 09, 2017, from https://www.heritage.org/index/country/singapore Liang, T.J. 2010. The global financial crisis and policy response. Retrieved March 10, 2016, from https://www.cscollege.gov.sg/Knowledge/Pages/The-Global-Financial-Crisis-and-Policy-Responses.aspx Min, C.Y. 2014. Singapore hit by first deflation in five years on falling global oil prices. Retrieved March 10, 2016, from https://www.straitstimes.com/business/economy/singapore-hit-by-first-deflation-in-five-years-on-falling-global-oil-prices World Bank. (2016). Macroeconomic data of Singapore. Retrieved March 10, 2016, from https://data.worldbank.org/country/singapore