1. What are the four (4) main important factors of production in economy? List and describe the main four factors. Illustrate each example of the factors in Malaysia economic landscape. 2. In short compare the four (4) main important factors of production between Malaysia and Indonesia. If you are an investor which country will be your choice of investment. 3. List and describe the three (3) main economic systems in the world. In short, which economic system Malaysia is categorized.
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- Refer back to the Work It Out about Comparing the Economies of Two Countries and examine the data for the two countries you chose. How are they similar? How are they different?2.a) Provide a definition of ‘technological capability and ‘social capability and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? 2.b) Financial development, social capital, favorable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyze Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countriesAnswer the following: (Choose the options below) Q#5) Consider a prosperous country with an advanced economy which could invest trillions into its current capital stock – either moving “up” its current productivity “curve” (PC) or shifting to a new and higher productivity (PC) curve. Which approach is likely best for increasing the country’s living standards (Real GDP Per Person) through time? a) A continuous build-up of the current capital stock with established technology will achieve more – capital “deepening” with more capital for each worker. b) R&D that supports “cutting edge” invention and innovation will propel labor productivity to far higher levels – with higher quality capital Q#6) What is the best explanation for the correct answer to Q#5? An advanced economy will be a wealthy nation with a large capital stock and a high ratio of capital to labor. Thus, when expanding with standard capital…
- (a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? (b). Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. (c). Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries. Please answer all the parts of this question.4. Does improvent in technologies cause higher real wages and lower unemployment rates.?Answer the below questionsa. What do you understand by Real GDP? What is the Real GDP Growth Rate of India and China in 2019? What is the estimated real GDP growth rate of India and China in 2020? What is the projected real GDP growth rate of India and China in 2020 and 2022?b. What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels (January 2020 forecast) in China and Other Emerging Economies in Asia other thanChina?
- Instructions: choose the correct answer below 1. In W.W. Rostow 'Economic Perspective', the preconditions for take-off is describe as a) Growth in normal condition b) Real income per capita increase c) Expansion of the nation modern sectors d) Notable increase in investment 2. A cause of unplanned Urbanization in the Caribbean is a) Natural increase b) Tourism c) Rural development d) Increase manufacturing in urban area 3. According to Caribbean sociologist M. Cross, a problem becomes a social problem when a) It becomes the concern of the entire society of community b) The problem is a personal problem c) A social problem can be appreciated only within the framework of the larger picture d) None of the above 4. In Ryan's 'The Independence Experience', who stated that population growth in the Caribbean is influenced by fertility, mortality and international migration? a) R.T Smith b) M.G Smith c) Norma Abdullah d) J. Barrow 5. Which theoretical perspective…1) What's the opportunity cost of a typical college education? What's your personal opportunity cost? 2) Compare earning potentials between high school and college graduates through lifetime active careers. 3) What's your opinion about staying or dropping out from college? Will the possible forgiveness of student loans affect your decision on staying in college? 4) Since the future will be highly technology-oriented, will higher education be very necessary? Because the robot with artificial intelligence can replace many jobs of human labor in the future. 5) On the other hand, suppose you are a brilliant, successful value investor of young Warren Buffett who is a founder of Birkshire Hathaway(BRK.A). You think that a college education is unnecessary because the opportunity cost of staying at a college is too expensive. The reason is that the financial gain of investing in one company with your college tuition will be far greater than the earning potential with a college degree for the…1.What best explains the âRise of the Westâ that is, the economic, political andmilitary ascendancy of Western Europe and its offshoots (United States etc) inthe world economy after 1800? Discuss.2.âThe Industrial Revolution that began around 1800 has been the biggest andfastest transformation of production in the entire history of the world.â Discuss.3.âThe roots of both modern global economic prosperity and poverty (the soÂcalledGreat Divergence) are in the Industrial Revolution that began in the late 18thcentury.â Discuss.4.âThe rise of the industrial economies based on technological progress and theIndustrial Revolution since 1800 is the central event of modern history. Nothingelse even comes close. This has affected the world in this period more than allother social and political changes taken together.â Discuss.5.Have the economic and…
- 10 In India, the availability of labor is comparatively more than the availability of capital. What method of production India should adopt? a. Labor intensive method b. Capital intensive method c. Labor shortening method d. Capital deepening method1.Which of the following resources is the most rival? A- A music concert at a city park. B-A full moon. C-An interstate highway D-A zoo. E-The labor of a hair stylist 2.Which of the following is considered a basic economic question? A-What are the most advantageous terms of trade? B-When does marginal cost equal marginal benefit? C-Which economy enjoys a lower opportunity cost for this good? D-What is essential knowledge to pass on to the next generation? E-What goods and services should be produced?(A) cite the relationship between education and population growth. In 3 sentences only. (B) As of January 1, 2022, the population of Philippines was estimated to be 112,321,991 people. Is this more of a boon or a bane for us? In what way?