Current Resources
Land Resources: Germany is 357,022 sq km, which is about the size of Montana. Germany is home to many natural resources such as coal, lignite, natural gas, iron ore, copper, nickel, uranium, potash, salt, construction materials, timber, and arable land. "Low and high pressure systems change much quicker, due to the fact that Germany is influenced by dry continental air masses from Eastern Europe and by maritime air masses from the Atlantic." (Germany.co.za).
Labor Resources: Germany has a population of 81,471,834 people. Population growth rate of -0.208% and a median age of 44.9 years. Germany has a fairly large population however the growth rate is decreasing. Since the median age is relatively high, this may cause labor problems.
Capital Resources: As mentioned above Germany has many natural resources and most of these resources help contribute to creating their number one export: machinery. Germany is the world's number one exporter and the leader in mechanical engineering.
Entrepreneurial Ability: It has been a struggle for East Germany to keep up with West Germany in sense of entrepreneurial ability since the reunification in 1990. In an Article by Zoe Kuehn, she explains For the past decade, the East German economy has been suffering from high unemployment and low economic growth compared to West Germany. Many of these economic problems can be blamed on lack of entrepreneurship in East Germany. "Three key aspects of its intigration into West Germany inhibit this mechanism: 1) the unrestricted mobility of East Germans to the West, 2) the policy of fixing East German wages as a fractions of West German wages, and 3) the importance of family tradition for entrepreneurship in West Germany." Eliminating any of these 3 aspects will result in more entrepreneurs, less unemployment, and higher economic growth in East Germany.
Labor Resources: Germany has a population of 81,471,834 people. Population growth rate of -0.208% and a median age of 44.9 years. Germany has a fairly large population however the growth rate is decreasing. Since the median age is relatively high, this may cause labor problems.
Capital Resources: As mentioned above Germany has many natural resources and most of these resources help contribute to creating their number one export: machinery. Germany is the world's number one exporter and the leader in mechanical engineering.
Entrepreneurial Ability: It has been a struggle for East Germany to keep up with West Germany in sense of entrepreneurial ability since the reunification in 1990. In an Article by Zoe Kuehn, she explains For the past decade, the East German economy has been suffering from high unemployment and low economic growth compared to West Germany. Many of these economic problems can be blamed on lack of entrepreneurship in East Germany. "Three key aspects of its intigration into West Germany inhibit this mechanism: 1) the unrestricted mobility of East Germans to the West, 2) the policy of fixing East German wages as a fractions of West German wages, and 3) the importance of family tradition for entrepreneurship in West Germany." Eliminating any of these 3 aspects will result in more entrepreneurs, less unemployment, and higher economic growth in East Germany.
Current Events
In an article written by William Ickes from Yahoo!News, it explains how Germany's has posted record exports in March. Germany had a trade surplus of 15.2 billion euros in March. This should definitely impact the production possibilities of Germany in a positive manner. Commerzbank's Rondorf said: "We remain very comfortable with our forecast that the German economy will grow by 3.0% in 2011."
http://news.yahoo.com/s/afp/20110509/ts_afp/germanyeconomytrade_20110509114940
http://news.yahoo.com/s/afp/20110509/ts_afp/germanyeconomytrade_20110509114940
Resource Change
Germany's advancements in technology and recognition as the worlds number one exporter and leader in mechanical engineering has helped in increasing trade surplus.
Sources
https://www.cia.gov/library/publications/the-world-factbook/geos/gm.html
http://news.yahoo.com/s/afp/20110509/ts_afp/germanyeconomytrade_20110509114940
http://www.germany.co.za/climate.html
http://eco.uc3m.es/~zkuehn/JMP_ZoeKuehn.pdf
http://news.yahoo.com/s/afp/20110509/ts_afp/germanyeconomytrade_20110509114940
http://www.germany.co.za/climate.html
http://eco.uc3m.es/~zkuehn/JMP_ZoeKuehn.pdf
