What brings economy of a country down.

[tbterryboy]

This is the same thing that’s happening with some countries, especially in the developing countries. Some countries neglect other things they can do and only focus on one particular thing that is giving them money, maybe like Oil, and they forget that they should be putting effort towards making other areas/sectors better to help their economy.

Instead of focusing on one thing, they should be looking into other things as well, just like agriculture and invest in their local farmers and try to most of the things they have to import, that way they will reduce their import and increase their export. In cases like these, it’s mostly the government that are to be blamed, because they don’t do the right thing by showing support to people in those particular areas.

[1714551701]

1714551701

[LogitechMouse]

This is just a simple cycle of how the economy works in every country
- people work, people have salary.
- they will use their salary to buy some things.
- they are helping the economy thru spending their salary.

Its just the simplified cycle of how the economy works but there are some things that can be added there.
Right now, people can't work because of the pandemic and since people can't work they doesn't have any salary to spend on their everyday lives. Because of this, they can't pay tax that can be used by people in different things and also they can't contribute to the economy since they have nothing to spend on.

[raidarksword]

In the current situation, covid-19 has brought our world economy down and this a biggest downfall we have encountered this year wherein every countries are striving hard to stand up and fix everything as soon as possible. As the moment of this pandemic everybody lost their job and many companies closes down because of the scare of the virus. Just by this scare, every economy literally down and no one knows when this will end not unless vacinne is available.

[chip1994]

Economy of some country has fall due to they channel their economy one side,what brings economy down is base on focusing on one particular thing not be diversified in different sectors, so when that particular product fails to trend in market the way it's before such country will be shortage of economy and the life of the people will be in danger base on things is moving wrongly to the country.
And the way a country can be free from falling of economy is to spread their economy or diversified economy so that when one of sector shutdown another will pick up.

I think that is not the only reason a country's economy goes down. In every country in the country, they know that what is the best resource and people there will exploit it for business. At that time, the economy was always developing well. And the problem you're talking about the failure of some businesses will lead to the economy going down quite wrong. because when doing business, business owners also need to hire employees, find supplies and that is the action to increase GDP for the country.

[Paycoinzzz]

The downfall of an economy is not just about startups failing. The problem lies in the money supply and the money circle. Failing startups also contributed to the country's GDP thanks to their involvement in trading in the domestic market. But if the money cycle is slowed down then that will be very worrying. because then money is only saved and it is not used to do anything, it will not have a positive impact on the economy. Since then everyone's income is lower and that's the fear.

[matchi2011]

If the country is under the pandemic means the economy of this are not good well. But if the government gives some mandatory to their people , government can open an establishment that need in this situation. Like groceries , pharmacies and many more that can help to rise economy that can help to maintain not as big but good to the government . But we know that is not an easy to the government to back the good economy under pandemic.

It's hard indeed, there are lots of things to consider since pandemic virus really affects not only physically but also mentally
people are scared being infected of this virus. Economy falls without any  government good plan ahead it will continue to
experienced more hardship.
It's indeed needed to have sources of funds as long as they are well prepared with consequence that they've needed to
surpass once they've encountered.

[AniviaBtc]

COVID19 had brought country's economy down.  

That's really the most miserable thing that happened this year 2020, because all of u aren't expecting that this Covid-19 will grow that huge. This pandemic cancelled all the activities in all sectors that make the economy move. Most of the countries who are affected by this virus really experienced a downward movement in their economy just like the US.

Some countries are dependent on their oil exportation which their economy will run smoothly and some have a booming economy because they are heavily industrialized like China. Taking that out from them, then they'd be crippled. A city like Las Vegas' economy is dependent on tourism, due to Covid19, they are helpless which is why they have to make it work and open casinos despite the risk.

Saudi Arabia also are exporting some of its oil so that they can make their economy survive and stable. China really have a stable economy even though the virus originated in their country, and right now, the cases in their country is small than you can imagine. I don't think that this virus really affect them because instead of a downward movement in economy, they experienced a growth in their stock market especially that they are also the number 1 manufacturer of other countries. So for me, this virus really is not that hindrance for them to achieve economic growth.

[BuNga_cute]

The cause of a country's economy is down, because its ability to buy products is low, unemployment is high, and job vacancies are few.
That can make the country's economy fall, but now many are blaming COVID19 as the cause of the falling economy. If we think calmly,
surely we realize actually because people cannot make money. Then the country's economy to fall.

[BitcoinTurk]

Economy of some country has fall due to they channel their economy one side,what brings economy down is base on focusing on one particular thing not be diversified in different sectors, so when that particular product fails to trend in market the way it's before such country will be shortage of economy and the life of the people will be in danger base on things is moving wrongly to the country.
And the way a country can be free from falling of economy is to spread their economy or diversified economy so that when one of sector shutdown another will pick up.

Actually, the answer to this question is very simple and quite plain.  It is even possible not to answer this question economically.  The exact answer to the question is bad country management and bad political management.  This situation today as the most vivid example of Turkey and Turkey's economic management conditions mentioned.  In addition, we can show the Turkmenistan state and its people as an example.  Although the country seems to be a rich country, the fact that the people are poor is completely due to political administration.  If we need to examine many countries with such situations, we can see that these are actually the reasons of countries sinking.  I do not want to pull the incident from a political perspective, but as I mentioned, we can find an answer to this question politically, not economically.

[abhiseshakana]

Economy of some country has fall due to they channel their economy one side,what brings economy down is base on focusing on one particular thing not be diversified in different sectors, so when that particular product fails to trend in market the way it's before such country will be shortage of economy and the life of the people will be in danger base on things is moving wrongly to the country.
And the way a country can be free from falling of economy is to spread their economy or diversified economy so that when one of sector shutdown another will pick up.

The market must indeed stand on the principle of free competition (perfect competition). The existence of perfect competition does not aim to monopolize but creates as many consumers and producers as possible in the market and the heterogeneity of available goods. Both producers and consumers must be able to maximize the achievement of each that is gradual and sustainable with the ultimate goal of achieving economic satisfaction.

However, this does not mean that freedom is absolute, there must be a set of rules and values that govern and ensure that the rules are implemented. Without the values that govern perfect competition and the rationality of supply and demand is difficult to realize. Therefore, the role of the government is only as a market watchdog of fraudulent monopolistic practices and practices that has the potential to damage the mechanism of perfect competition.

[GeorgeJohn]

Usually, a virus and a recession in a country cause a country's economy to go down COVID 19 closes

I can accept the fact that a virus can bring down economy of a country because if such country is into disease crisis it will make people in charge of some sectors to be incompetent in duties even leaders those who governor the affairs of the country will be discouraged to function effectively mean while they will begin to be weaker in industrialization and it will bring country economy down.
Because the health status of workers is not encouraging. Example of virus that can cause such type of economy shutdown  is Corona virus and HIV. Because they work directly with the red blood cell.

[kolbalish]

Only one side economy is not always blessings for a country. Already it was proved by many countries. In this regard, Vietnam can be mentioned for their oil based economy and for it their economy collapse after getting down the price. Some country still depends on one side economy like Bangladesh which is dependent on RMG sector. Let's see what will happen next there.

[KrisAlex18]

It's the government decisions, even though here is against to the decision of the government, they cannot change the plans or decision of their government, well some of the countries are like that, they don't even listen on the needs and suggestions of their members so some of them made a mistake.

Knowledge is also can be one of the factors of going down of the country, why we are all studying? Who we spend almost  15 years of our lives studying? It's because we want to get work someday, and if we have good work or jobs we can help our economy. That is the reason why some countries are rich and powerful because they prioritize education which is a really important and good decision because, in some other days, these people who are patient in studying would help their economy.

[Latviand]

The economy of a country also depends on the mentality of its people as well. For example, in my own country, lots people like to store the money as hard cash (not even in bank ) rather than spending it. So, a huge amount of money becomes stored which could be used for productive purposes. Thus despite of diversity, natural resources our country can not flourish economically.

Yeah, the community really affect the economy of a country, once people are really knowledgeable and know how to budget their money, the government will really not have a hard time allocating the budget for other sectors that needs to be prioritized. Most of the people are storing their money in a safest place and they will only use it if it is really necessary. Also, if those businesses are not operating due to the risk of this pandemic, the taxation will become hindered and people will not also earn money and the economy of a country will really have a downward movement.

[michellee]

If there are no recession or virus situations like now, I think yes, the government can diversify the economy to many sectors, so that can prevent the economy from fall down. But if we are in these situations, while people can not go out and stay at home, it will be difficult to diversify the economy to many sectors. But luckily, right now, we have an internet connection which can help people to keep survive in this pandemic. I see that company has moved their concept into an online store where they now accept the online order which they never touch it before.

[Assface16678]

Today we experience the quarantine because of the pandemic outbreak which is the coronavirus because of this virus we cannot make a going upside because some of the company they want to avoid getting spreading the virus rapidly. Because of this some of the transactions on the business and other kinds of transactions getting canceled because they want to secure the safety of the people and of their workers.

This may affect the industry especially to the people which is food manufacturer, tools services, and another kind of things that is part of the basic human. Most of the GDP of the country today are falling down and one of the countries which is recovering and maintaining the GDP of their country is China.

If there are no recession or virus situations like now, I think yes, the government can diversify the economy to many sectors, so that can prevent the economy from fall down. But if we are in these situations, while people can not go out and stay at home, it will be difficult to diversify the economy to many sectors. But luckily, right now, we have an internet connection which can help people to keep survive in this pandemic. I see that company has moved their concept into an online store where they now accept the online order which they never touch it before.

Even there is a quarantine some of the country today resume the work because they want to avoid going down the GDP of their country and we are heading towards that we can now have a vaccine so we can back to normal and back to the life before that we do not have any virus.

[coolcoinz]

The economy is measured by gross domestic product. The economy of a particular region or country is governed by its culture, laws, history, and geography, among other factors, and it evolves due to necessity. Extended periods of sluggishness can easily lead into a recession, so a sluggish economy is often considered a leading indicator of a potentially steeper downturn

Thanks for quoting investopedia for us. What would we do without you... 

The question can be addressed in many ways. For instance, a natural disaster or a war can bring the economy down. It all depends on how the disaster or war influences the area. A war can be beneficial for the economy (see Germany or the US during the WW2) or it can be a disaster (the Balkan war, Iraq, and many other).
Usually a threat mobilizes, but an overwhelming threat induces fear and becomes counterproductive.

[michellee]

If there are no recession or virus situations like now, I think yes, the government can diversify the economy to many sectors, so that can prevent the economy from fall down. But if we are in these situations, while people can not go out and stay at home, it will be difficult to diversify the economy to many sectors. But luckily, right now, we have an internet connection which can help people to keep survive in this pandemic. I see that company has moved their concept into an online store where they now accept the online order which they never touch it before.

Even there is a quarantine some of the country today resume the work because they want to avoid going down the GDP of their country and we are heading towards that we can now have a vaccine so we can back to normal and back to the life before that we do not have any virus.

The quarantine will help infect people to be cured in one sterilize place. Maybe we need more time to get the right vaccine that will help those people, while the professional still trying to increase the immune of the infect people. Slowly, the situations can back to normal, maybe new normal because the situations now will be different before the virus come.

[roman100]

Economy system where no money is involved and trade is done as direct exchange of goods is an economy too. Having enough is extremely important for stability. Economy is the thing that allows us to survive and thrive. A system where no money is involved and trade is done as direct exchange of goods is an economy too. Having enough is extremely important.

[kotajikikox]

Economy of some country has fall due to they channel their economy one side,what brings economy down is base on focusing on one particular thing not be diversified in different sectors,

So better tell you country about this,teach your government to do what you are telling us but talking here rrandomly?you only make yourself stupid.

And like a story teller that talking shits for him just to have a post.

so when that particular product fails to trend in market the way it's before such country will be shortage of economy and the life of the people will be in danger base on things is moving wrongly to the country.
And the way a country can be free from falling of economy is to spread their economy or diversified economy so that when one of sector shutdown another will pick up.

Boring lol,Hope you will gather the merit you wanted to gain posting like this.

If there are no recession or virus situations like now, I think yes, the government can diversify the economy to many sectors, so that can prevent the economy from fall down. But if we are in these situations, while people can not go out and stay at home, it will be difficult to diversify the economy to many sectors. But luckily, right now, we have an internet connection which can help people to keep survive in this pandemic. I see that company has moved their concept into an online store where they now accept the online order which they never touch it before.

It has been the issue since then,even without the pandemic some big countries are starting to collapse.