Monday, September 16, 2019
What challenges have the student in Stream Aââ¬â¢s ââ¬ËAcademic Culture and Learningââ¬â¢ classes
Abstraction The online in category study was conducted in March 2014. This study is demoing some jobs with international pupils, such as academic conventions and civilization daze. In SIBT many pupils have these jobs, it could be influence pupils study in abroad state. For these jobs, there are some recommendations for these jobs pupils can seek to do new friends, besides school can do some group to allow pupils cognize new friends and understand the new civilization. At same clip, make pupils follow new survey manner, it will be helpful their survey, because civilization daze and academic conventions are chief jobs for international pupils, if they can work out those jobs it will be good for their life and survey in abroad state. Introduction There has been a addition in international pupils over the last decennaries. Sydney Institute of Business and Technology ( SIBT ) is a chief instruction institute in NSW that accommodates IS demands. Academic civilization and acquisition ( CAL ) is a class that teaches academic English and is a mandatory unit. There are eight categories short in CAL and this research is on these categories. Loneliness and homesickness are two of import jobs which can be impact IS. Students and universities should be overcome all of the jobs with survey in abroad. This study give the information about challenges to the abroad pupils. Literature Review There is no inquiry, nowadays international pupils ( IS ) survey in other states, they will confront many different jobs, it will be act upon their survey, such as civilization daze and academic conventions. Duworth ( 2010 ) province that in Australian higher instruction one of the of import things for pupils is English linguistic communication degrees, particularly for international pupils. Harmonizing to Oweas ( 2011 ) , to assist the exchange pupils get more experiences about Australian instruction theoretical account, it deployed by critical battle with diverse stuffs in altering contexts. Gary & A ; Murray ( 2011 ) province that the importance of written and unwritten communicating accomplishments are agreed by surveies of communicating in accounting. For this point both formal and informal surveies have tended to utilize general footings. Hellsten & A ; Prescott ( 2004 ) province that the of import job about Asiatic pupils are that they think it is hard to lend with others in category and discus with each other. Brick ( 2006 ) province that civilization daze is a broad scope of symptoms what result when a individual is forced to transport at the normal maps of day-to-day life in unfamiliar ways, it is named of civilization daze. Xia ( 2009 ) province the civilization daze is the chief manner to giving people negative impact. It shows a portion of solutions and evolutes the effectivity The methods Participants There are 118 CAL A pupils who study in SIBT. All most people from China, other people from Asiatic and Saudi Arabia. Procedures The questionnaire or study carried out online. CAL pupils, such as figure and per centum. The SIBT pupils were the research worker. Measures There two sorts of inquiries civilization daze and academic conventions. In civilization daze, there are many inquiries, such as civilization daze since coming to Australia, what kinds of civilization daze. In adamic conventions, English hard to grok during periods of hearing, written English is reasonably easy. It is easy to written English during the category clip. Consequences From the research, it can be seen homesickness ( 49.15 % ) and solitariness ( 35.59 % ) is large job for CAL students.to solve those jobs, about pupils spend clip with friends ( 55.93 % ) , other pupils try to make something to work out these jobs. In academic conventions, about pupils think listening is non job for them, but there are still have other jobs such as 35.59 % pupils thick English is hard for them. After this, 40.68 % pupils believe their unwritten English is clear and easy understand, merely 17.80 % pupil disagree with it. Student troubles with geting new academic conventions. Learning new academic content is non easy for pupil, such as linguistic communication job and category acquisition, they are troubles for pupil geting new academic conventions. For illustration, merely 15.25 % pupils think listening is bot job for them, and more than half pupils think they have composing job. Some pupils ( 34.75 % ) believe it hard to understand the content of their talks. Dunworth ( 2010 ) province that in Australian, the English linguistic communication conventions degrees of pupil has becomes a important job, it is peculiarly for abroad pupils. For international pupils, a linguistic communication degree is really of import, because it non merely impacts their survey, but besides it can impact their life in other state. Gary & A ; Murray ( 2011 ) province that composing and unwritten communicating accomplishments are of import for survey. If a individual can speak with each other and at same clip he or she can compose anything about their survey or occupation it wi ll be easy for their survey or work. In decision, linguistic communication and adapt to the new acquisition environment is really of import fir international pupils, because it non merely assist their survey or woke, besides it can be impact their life in abroad state. The impact of civilization daze symptoms on the ability to analyze. Culture daze means when people coming to new topographic point and follow out the different day-to-day life. This job is when a individual moves to new civilization background work and unrecorded. For civilization daze, differences look. The being of cultural differences cause misunderstand or mistakes in the procedure of English acquisition. In the research of CAL pupils, 45 % of pupils agree with this, when they coming to Australian, they have been cognizant of some affect are civilization daze. As consequence, civilization daze is the average manner to act upon pupils analyze in new civilization background. Xia ( 2009 ) states that, civilization daze, the feelings like haplessness, it is of import for some people who come into contact with new civilization. In the study consequence, there are 18.64 % pupils think they are deficiency of focal point or trouble with concentrations. At the same clip, Birck ( 2006 ) province that headaches contestant fatigue, trouble in kiping. All of those jobs are physical symptoms of civilization daze, from the study consequences, more than half pupils believe that they got those jobs. Decision The most important findings of this study include what is civilization daze, what civilization daze influence, and the symptoms of civilization daze. For illustration, fatigue, solitariness, homesickness and concerns, all of these jobs cause from civilization daze, both psychological science and physical jobs are really of import for pupils, because these jobs will impact pupils analyze and lives. Brick ( 2006 ) states that civilization daze, itself in feelings in annoyance and restlessness, the development of negative stereotypes of the host civilization. Besides Xia ( 2009 ) province that civilization daze is the chief ground to given negative and impact IS survey in other civilization. Dunworth ( 2010 ) province that in Australia, the English linguistic communication convention degrees are really of import, because it can be help pupils better their linguistic communication accomplishments. For this study it clearly pointed out the negative and impact from civilization daze and ac ademic conventions. However, it dose non give the clear suggest. As the consequence, it could be give some good solutions to assist IS survey in other civilization. Recommendations for pupils and universities [ Type text ] Page 1
Sunday, September 15, 2019
Now Thatââ¬â¢s What I Call Music, Piracy! Essay
I bought my first CD when I was about 10 years old. My mom had drove me to Target and allowed me to purchase one CD of my choosing; I chose Now 11. I spent what felt like hours scouring the aisles of the store looking for the 11th edition of Now Thatââ¬â¢s What I Call Music and finally found it on the shelf. I remember being filled with excitement and anticipation as we drove home; I was so anxious to put it into my CD player. I remember the only reason I wanted it was because there was a few rap songs my brother listened to on it. Since my mother didnââ¬â¢t allow me to listen to his music, I knew this was a great way to slide it past her. I will never forget that CD; I listened to it for days on end. As I played the CD, I poured over the insert book, reading the lyrics and singing along. Today if I wanted to own that same Now 11 CD the experience would be entirely different. A few simple searches on the Internet would lead me to various file-sharing websites where I could easi ly download the album for free. Instant gratification. I wouldnââ¬â¢t have to look through aisles, no waiting in line, and no money necessary. This change in technology has done more harm than good to the music industry and the economy. Downloading music, whether legally or illegally, has completely changed the record industry. Consumers seem perfectly content to click their computer mouse a few times and download whatever songs they want at their leisure. It all makes perfect sense; the technology world is changing and we are taking what we are given. Almost everyone has an iPod or some other portable music device and the days of sitting around a stereo and listening to an album from start to finish seem lost forever. Digital downloads are far more convenient than buying physical albums. They donââ¬â¢t take up shelf space in your home and as long as you back up all your files, you donââ¬â¢t need to worry about losing your favorite album. However, common music pirates tend to lack the knowledge of who or how they are affecting. The transition from physical copies of music to digital downloads has made music a commodity in the United States. It seems that music has been completely devalued by this evolution in technology. The excitement of going out to a record store and having to look for a specific album is gone. Virtually everything is available online and whether music fans realize it or not, society has come to take this art form for granted. According to the Record Industry Association of America, ââ¬Å"global music piracy causes $12.5 billion in economic losses every yearâ⬠(Who). There is no doubt it takes an affect on our $16 trillion plus national debt. This economic loss also affects the employees of record labels with 70,000 lost jobs (Who). With the US unemployment rate currently at 7.9%, it definitely takes a toll on that as well (Databases). Consequently these economic downfalls music piracy is cre ating detracts from revenue that could be spent on finding and promoting new artists and allowing signed artists to record more albums. Losing money to piracy also has a profound effect on working musicians themselves. Artists are now forced to make up a large part of their earnings through licensing their songs to television commercials and shows, touring relentlessly, and selling merchandise. Even with these alternatives to offset the fall in record sales, artists can still struggle to make ends meet. Renting a tour bus and paying for a driver and gas can cost a small music artist almost a $1,000 (Arnold). In 2007, the Boston based band, The Dresden Dolls, told National Public Radio (NPR) Music in an interview that their record contract had them receiving about $1 in royalties for every CD sold, but ââ¬Å"before a band gets to see any of that, it has to sell enough CDs to cover all of the labelââ¬â¢s production expenses, which can amount to hundreds of thousands of dollarsâ⬠(Arnold). Most artists try to dig themselves out of this hole through relentless touring, but even selling tickets comes with a price. Venue and concert promoters take a share out of an artists ticket sales, they even have sound technicians and others workers to pay for too. One could look back on Noah Webster, who is primarily known for his early and influential dictionary; he campaigned in the 1780ââ¬â¢s for copyright laws to protect American authorââ¬â¢s content (Paulson). He would not have been amused with todayââ¬â¢s copyright issues. The printers of the 1780ââ¬â¢s were not large corporations. They were small shops making their living largely by stealing the content of books published in Europe (Paulson). Whatââ¬â¢s so different about music piracy and the music industry today? Webster wanted to make sure his work would not be published without compensation, just like the music industry is trying to do today. The debate over illegal downloading often focuses on technology. Those who defend the unauthorized sharing of music say that critics are living in the past and had better get used to the new reality. But that new reality is taking a toll. ââ¬Å"Over the past decade, America has lost a staggering number of professional songwriters and composers, primarily due to the impact of illegal music downloading,â⬠says Bart Herbison, executive director of the National Songwriters Association. ââ¬Å"Those that remain in the profession are struggling to earn even a minimal incomeâ⬠(Paulson). Most illegally downloaded songs come from major stars and labels, but the food chain surrounding major artists includes struggling songwriters, producers, and musicians trying to get by in a damaged industry. Unauthorized downloading is a global issue, and no one nation will provide a solution, but Americaââ¬â¢s origins suggest we should care more than most music pirates. Itââ¬â¢s not about business models or emerging technology. Itââ¬â¢s about living up to what Webster and the first generation of Americans believed. Art should be free, but not necessarily free of charge. Consequently record labels and artists are not taking these losses lightly. In addition to public campaigns against piracy, the record industry has prosecuted numerous people suspected and guilty of downloading music illegally. Most recently The Boston Globe reported that a Boston University graduate student was fined $675,000 in damages for illegally downloading 30 songs and sharing them online (Valencia). Thatââ¬â¢s a far cry from the $30 he would have paid had he simply bought the songs on iTunes. Yet shockingly some say this graduate student got off lucky. In June of 2009, CNN reported that a 32-year-old Minnesota woman was found guilty of downloading music illegally and ordered to pay $1.9 million dollars for 24 songs (Friend). In the midst of battling online piracy, the record industry is desperately trying to find ways to encourage consumers to buy albums again. In September of this year, Apple announced its newest version of iTunes called iTunes LP. This new program will include album artwork, photos, lyrics, and videos as part of an album purchase, in effect recreating the physical album experience (Apple). The company hopes that by offering these extra incentives to consumers, people will be more likely to spend their money on music as opposed to sharing files with each other. Some may wonder what caused this digital music war; I say it could be blamed on Napster, invented by Shawn Fanning in 1999. Napster was a peer-to-peer file sharing program that bas ââ¬Å"let the cat out of the bagâ⬠by allowing digital music to be accessed by virtually anyone for free. However on March 5th, 2001, Fanning and Napster were sued and prevented from sharing their copyrighted music. Not long after that came LimeWire, started by Mark Gorton in 2000. It was another free peer-to-peer file sharing program that expanded on what Napster created. Finally on May 12th, 2011, the Recording Industry Association of America announced its $105 million case settlement with major recording companies (Sisario). In the lawsuit, the labels identified ââ¬Å"more than 9,000 recordings made since 1972 that had been traded on LimeWire without permission and sought damages of up to $150,000 for each songâ⬠(Sisario). Although the $105 million settlement is far from the $1.4 billion the labels had sought as a maximum penalty, the companies are hoping that the case will restrain further piracy since Mr. Gorton, a former Wall Street trader with millions in personal assets, also faced liability (Sisario). Fortunately there are a few music programs like Spotify and Pandora that are doing their best to combat music piracy. Pandora launched in 2000 but has since become increasingly popular today. With Pandora you can create up to 100 personal radio stations that play the music you like with advertisements in between every couple songs. It has over 150 million registered users today (Sasario). Spotify is a music-based streaming service that is based out of Sweden since 2009. It just opened in the US in July 2012. They offer users unlimited music for little (or no) money. Pay just $10 per month ââ¬â the cost of a single album ââ¬â and you can literally play music non-stop on your computer or mobile device. Donââ¬â¢t want to pay? No problem. Spotify has various options (depending on whether youââ¬â¢re in the US or Europe) for getting at least some music for free (Couts). Not only that, but you get to choose from Spotifyââ¬â¢s catalog of 15 million songs (Couts). In Sweden, since 2009 when Spotify debuted, music piracy has dropped 25 percent. Including 9 percent alone this last year (Couts). There is no actual way to tell if itââ¬â¢ll do the same in the US, only time will tell. Itââ¬â¢s hard to argue that we wonââ¬â¢t see similar decreases in piracy if Spotify keeps the popularity it has today. Although Pandora and Spotify rake in millions of dollars there is one thing that keeps them from gaining money: the cost of music royalties. Pandora, who just went public last summer, ââ¬Å"has never had a profitable yearâ⬠, and in its most recently reported quarter lost $20 million on $81 million in revenue. Spotifyââ¬â¢s accounts for the last year, recently filed in Luxembourg, show that it lost $57 million in 2011, despite a big increase in revenue, to $236 million (Sasario). With artists and labels hit hard by declining sales over the last decade, itââ¬â¢s hard to argue for lower royalty rates. Itââ¬â¢s fair to say that the graveyard of failed digital services, and the financial struggles of Pandora and Spotify show that the music industry hasnââ¬â¢t yet figured out the balance between licensing costs and how much money a digital service can make. Altogether the music industry will never fully be rid of music piracy. Will music piracy destroy the economic wellbeing of the music industry? Only time will tell. People will continue to burn CDs and share music with one another, and file-sharing websites will probably always exist. I believe the best way to combat piracy is to keep consumers informed about the consequences of downloading music illegally, not only for the record companies but for everyone working in the music industry. The next time you consider downloading music from a file sharing website or giving a CD of yours to a friend, consider this: is 99 cents per song really too much to ask for all the months of labor musicians, producers, engineers, and record labels put into creating an album for you? If you still feel it is, I hope you plan on spending $40 on concert tickets sometime soon. Works Cited ââ¬Å"Apple ââ¬â ITunes ââ¬â ITunes LP and ITunes Extras.â⬠Apple ââ¬â ITunes ââ¬â ITunes LP and ITunes Extras. Apple Inc., n.d. Web. 01 Nov. 2012. Arnold, Chris. ââ¬Å"Band Tries to Make It Big Without Going Broke.â⬠NPR. NPR, 17 Jan. 2007. Web. 01 Nov. 2012. Couts, Andrew. ââ¬Å"Spotify Linked to Major Decline in Music Piracy.â⬠Digital Trends. N.p., 29 Sept. 2011. Web. 01 Nov. 2012. ââ¬Å"Databases, Tables & Calculators by Subject.â⬠Bureau of Labor Statistics Data. United States Department of Labor, Oct. 2012. Web. 16 Nov. 2012. Friend, Elianne. ââ¬Å"Woman Fined to Tune of $1.9 Million for Illegal Downloads.â⬠CNN. Cable News Network, 18 June 2009. Web. 01 Nov. 2012. Paulson, Ken. ââ¬Å"First Amendment Center.â⬠Real Cost of ââ¬Ëfreeââ¬â¢ Downloads. USA Today, 21 Aug. 2012. Web. 08 Nov. 2012. Sisario, Ben. ââ¬Å"Major Record Labels Settle Suit With LimeWire.â⬠Media Decoder Blog. The New York Times, 12 May 2011. Web. 01 Nov. 2012. Sisario, Ben. ââ¬Å"Pandora and Spotify Rake In the Money and Then Send It Off in Royalties.â⬠Media Decoder Blog. The New York Times, 24 Aug. 2012. Web. 01 Nov. 2012. Valencia, Milton J. ââ¬Å"Supreme Court Refuses to Hear Music Downloading Appeal.â⬠BostonGlobe.com. N.p., 22 May 2012. Web. 01 Nov. 2012. ââ¬Å"Who Music Theft Hurts.â⬠Http://www.riaa.com. N.p., n.d. Web. 01 Nov. 2012.
Saturday, September 14, 2019
Business to Nation Building Essay
There are three particular foundations sustaining any process that concerns nation building: government representing political leadership; civil society or the citizens of the country; and business or the economic sector. These three concepts must work together and as much as possible, work together harmoniously to drive the said nation-building process forward because they serve as the hands and feet of the nation. Business is the cornerstone of prosperity in society: companies create the resources that permit social development and welfare. Companies, through their commercial operations, actively contribute to progress in society. Obviously, the government alone cannot accomplish things especially its projects and programs on its own. Had it been capable, it would already have done it. Without the businesses around, the government wouldnââ¬â¢t work out the plans it opt to undertake because it needs funds coming from taxes and taxes comes from these establishments. The ability to produce an added value for firms ââ¬â profit ââ¬â is the basic prerequisite for business, but it is also a foundation for prosperity in society. Only profitable companies are sustainable in the long term and capable of creating goods, services, processes, return on capital, work opportunities and a tax base. This is what business does better than any other sector. Hence, companiesââ¬â¢ basic commercial operations are the primary benefit they bring to society. Companies benefit society by: Supplying goods and services that customer cannot, or do not want to, produce themselves * Creating jobs for customers, suppliers, distributors and co-workers; these people make money to support themselves and their families, pay taxes and use their wages to buy goods and services * Continually developing new goods, services and processes * Investing in new technologies and in the skills of employees * Building up and spreading international standards, e. g. or environmenta l practices * Spreading ââ¬Å"good practiceâ⬠in different areas, such as the environment and workplace safety The role of business in the development of society can be described in many ways. In another point of view, they are sometimes referred to as the companyââ¬â¢s corporate social responsibility. Corporate Social Responsibility is a less broad concept than civic involvement. Even though there is no set, internationally accepted definition, this is often described as a voluntary responsibility that transcends the demands of national legislation and includes the human rights and environmental and social issues. Another definition of CSR uses sustainable development as a starting point. In practice, CSR means that businesses meet the demands of national legislation and, where this is inadequate, look in addition to a collection of established, fundamental freedoms and rights that are globally recognized. CSR demands that businesses manage the economic, social and environmental impacts of their operations to maximize the benefits and minimize the downsides. Business is the ââ¬Ëgame-changerââ¬â¢ of todayââ¬â¢s world. We are significantly dependent on them. Majority of our day-to-day activities are involved with an interaction with various kinds of businesses (whether you felt hungry and decided to buy food or you just went to a parlor to have a haircut). But whatââ¬â¢s good to know is that they do not benefit from us alone whenever we pay their goods or services but they give mutual advantage for the welfare of the greater society by having their own share in nation-building, too.
Friday, September 13, 2019
Finance Essay Example | Topics and Well Written Essays - 1000 words - 9
Finance - Essay Example (as to differentiate it to Private Finance), Housing and construction (availability of infrastructures), Output, capacity, and capacity utilization of existing and planned infrastructures, Merchandise trade, National accounts, Labor market, Population, Prices and Wholesale and Retail trade Some specific items under the broad categories mentioned includes the amount of potential customers and their preference, trends in economic growth and operating expenses such as wages, costs of local supplies, taxes and other expenditures, operations and profitability of competitors, planned economic ventures and differences in currency denominations. Also included is the determination of availability of resources, inflation rates, external debt payments as a measure of the credibility and involvement of the governing institutions of the country. Equally important issues that must be considered are risks such as insolvency of the buyer, risk of protracted default or the failure of the buyer to pay the amount due within six months after the due date, risk of non-acceptance and surrendering economic sovereignty. There are also political risks (which would influence economic conditions) that must be taken into consideration such as the risk of cancellation or non-renewal of export or import licenses, conflict risks, risk of expropriation or confiscation of the importers company, risk of the imposition of an import ban after the shipment of the goods, transfer risk or the imposition of exchange controls by the importers country or foreign currency shortages. The World Bank currently has a numerical measure/ ratings in determining the ââ¬Ëbusiness friendlinessââ¬â¢ of countries. It would seem that forecasting would require voluminous data. This would indeed be the case for some forecasting projects. However, some ventures would only require some data depending on the forecast models and equations they are using. There are many reasons why business firms are going global foremost
Thursday, September 12, 2019
Dealing With Disaster Essay Example | Topics and Well Written Essays - 2250 words
Dealing With Disaster - Essay Example Donors from all over are also part of the people helping the survivors of the flash floods. Lead agencies that help communities recover from calamities are available to ensure the people get the physical, social and emotional help that they need. The lead agencies usually maintain a strong relationship with the government to ensure the help they provide reach each and every individual suffering. The recovery and relief programs and efforts from different bodies satisfy the communityââ¬â¢s needs. The United Nations is one of the bodies that ensure the communities without adequate shelter or drinking water can access the commodities. The flash flood survivors have shelter and drinking water from the United Nations since the aid from the government was not sufficient. The survivors were complaining how the money and help from the government were not enough to provide all their basic needs. Appreciation to the government and other agencies is important for the recovery process from an y disaster is not easy. Dealing with disaster requires an effective strategic plan that ensures the effects of the disaster are not massive. The four strategies help to prevent further destruction of lives and infrastructure, thus saving the community the cost of rebuilding their lives. The flash floods in Chile were an unexpected disaster that caught the people by surprise. However, the community should put effective measures in place to prevent such an occurrence in the case of a similar disaster in future.
Wednesday, September 11, 2019
Questions Essay Example | Topics and Well Written Essays - 500 words - 1
Questions - Essay Example Some of these which the Company could possibly use are (a) CPBI ââ¬â Counter Productive Behavior Index ââ¬â a tool for assessing candidate honesty and integrity (b) SELECT Associate System ââ¬â a tool that gauges a candidateââ¬â¢s attitude towards honesty, integrity, dependability and honesty as well as the potential for aggressive behavior and (c) First View job fir indicator, which is a personality and cognitive screening tool (www.super-sloutions.com). 2. My Company currently makes its hiring selections on the basis of online applications, which are then screened using background checks on identity, education and work history. After this initial process of screening, the Company then selects a list of potential candidates for the interview process, which is the basis for an offer of employment. However, I feel that this process should be refined and the candidates should be made to take additional personality and integrity tests like the ones identified above, so that a good assessment can be made about how likely they are to be employees of integrity and honesty. The nature of current background checks are very preliminary and may not be adequate to identify potentially defrauding employees who could be a liability to the Company. 3. The reason for the sparse use of tuition reimbursement plans is the fact that in most organizations, tuition reimbursement plans are just bundled in with other administrative costs and no one is really responsible for them. Moreover, in most cases, the kind of degrees available under such plans are degrees at community colleges, with those who avail of it being disappointed when their Companies do not immediately recognize their new degrees in the form of promotions, etc. As a result, they are not frequently used. 4. After working as a team member, being promoted as Manager is hard because the team members are not used to viewing their peer in a superior capacity and therefore it may be difficult for the new Commander to
Tuesday, September 10, 2019
Venezuela's economic environment Research Paper
Venezuela's economic environment - Research Paper Example This means that the country has a great share in the geopolitical structure of the world. Venezuela, at 2013, is the worldââ¬â¢s 34th largest economy with a GDP of $ 407.4 billion (Central Intelligence Agency 1). It experienced a growth rate of 1.6 percent, which is attributed to a slow and unstable recovery from the 2008ââ¬â¢s world recession. In 2012, it experienced a growth rate of 5.6 percent. Besides, it has Per Capita GDP of $ 13, 600. This is the worldââ¬â¢s 99th largest PPP. Oil forms a major part of Venezuelan economy since it contributes 96 percent of its export earnings, 12 percent of its GDP, and 45 percent of its annual budget. Manufacturing forms a huge percent of Venezuelanââ¬â¢s economy as the country exports steel, cement, and aluminum. The industry sector contributes 35.5% of the countryââ¬â¢s GDP. Agriculture forms a mere 3.7 percent of the economy suggesting that the sector is underdeveloped. Although it exports agricultural products such as fish, the country imports two-thirds of its food supplies. The servicesââ¬â¢ sector is occupi es the largest part of the GDP, 60.8 % thereby employing 70.9 percent of the Venezuelan population. In terms of economic freedom index, the country has a score of 36.3 thereby making it a repressed economy. This means that there is limited individual freedom and liberty as pertains to investment and economic prosperity. The government has a big stake in economic activities, which in turn limits innovation and individual economic prosperity. It is essential, however, to note that Hugo Chavez, the former president, nationalized the oil industry in order to prevent conflicts and eliminate corruption. Venezuela experiences significant economic problems that correspond with state control of economic activities. Venezuela has a corruption index of 20 and ranks 166th in the world. This also
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