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Compose a 1500 words assignment on more benefits of starting a business in high economy than low economy

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Compose a 1500 words assignment on more benefits of starting a business in high economy than low economy. Needs to be plagiarism free! The low-cost economy is that which the population high with low standards of living and characterized by low developed industries than other countries. A high-cost economy is an economy with high growth and security in the economies. There are characteristics that are considered in both the economies to ensure there is satisfaction in the business that is put up in an economy (Cipolla, 2007). The economies are evaluated through the degree of per capita in the countries, the general living standards of those that live in the country, the infrastructure that is available and the level of industrialization. Examples of high-cost economies in the world include Italy, Norway, Denmark, Japan, United States, Germany, France, and Canada among others (Cipolla, 2007). Low-cost economies include most African countries, Vietnam, Afghanistan, Philippines, Pakistan, and India.

There are factors that are considered before starting and operating a business. Knowledge and expertise are considered in the success of a business. This will dictate the production in the business. Market and demand are also considered in starting a business. A business is started so that it satisfies the needs of consumers through demand (Hargreaves, 2007). Other factors to be considered include costs of starting the business, capital in the economy, competition and the location of a business.

Starting a business in a high-cost economy is better than starting a business in a low-cost economy. In operation business in a high economy, the economy is able to benefit from the high level of literacy in the regions as these results to the highly trained workforce. The business will be able to acquire the skills that they need for operation. The situation is different for a low economy (Perry, 2002). A low economy is characterized by a low level of literacy with a low level of skills of the workforce.&nbsp.&nbsp.