A monopoly implies an exclusive possession of a market by a supplier of a product for which there is no substitute. Macroeconomic Factor Example. Common macroeconomic factors include gross domestic product, the rate of employment, the phases of the business cycle, the rate of inflation, the money supply, the level of government debt, and the short-term and long-term effects of trends and changes in these measures.. Why a Macroeconomic Factor Matters Recursive Competitive Equilibrium (RCE) Definition The recursive competitive equilibrium (RCE) is said to be an equilibrium concept. For the past three decades, economic growth centered on strong contributions from the private sector has been the main driver of poverty reduction around the world. National economic competitiveness as defined in this paper can best be improved by macroeconomic policies and also by non-government factors, such as demographics, the weather, and entrepreneurial skill. In this revision webinar recording I explore the critical issue of international competitiveness and assesses the evidence about the UK's competitive position.Download the slides used in this revision video The score is the average for 2009–11. Cluster Initiatives. The numbers after each country name show the change and direction in ranks between 2000 and 2010. tive (kəm-pĕt′ĭ-tĭv) adj. The definition of ecotourism has been heavily contested and consequently multiple definitions, often ... is to assess the overall socio-political and macro-economic factors influencing the competitiveness of Zimbabwe as an ecotourism destination. An equilibrium concept in the sense that, when external economic influences are absent, and economic forces like supply and demand are equal; there would not be any change in the equilibrium values of the economic variables. What is meant by macroeconomic stability? African Center for Economic Transformation. Of, involving, or determined by competition: competitive games. It combines an evaluation of inputs or processes on the one hand with an assessment of output and goals on the other. Quality competitiveness: Economic structure 23 ... With this definition, competitiveness has arrived at the country level, and the term is now closely connected to welfare assessments in the tradition of the beyond-GDP literature. Macroeconomics is a branch of the economics field that studies how the aggregate economy behaves. Building on past efforts in macroeconomic stabilization, privatization, market opening, and reducing the costs of doing business, clusters can enhance competitiveness in today’s increasingly complex, knowledge-based, and dynamic economy. In this sense, there are several definitions of competitiveness that must be considered before one can build a particular understanding of the best economy in the world. It allows businesses to offer their target market a product or … Stem. 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