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- What is Economic System? And what system is the best system your community will use and implement to address scarcity, as an Economic Manager?Kindly help with the following questions. 1) What is an example of how nonrational human behavior can change an economic outcome.? 2) Why is money not considered capital in economics?1. Approximately what percentage of the world"s economies experience scarcity? A. 100% b. 75% c. 50% d. 25%
- Discuss the difference between economic value and social value or the shared value creation framework. Why do you think organizations tend to focus on the creation of one type of value but not both?12. What are the four factors of production? Thanks asap do itWhat does a production possibilities frontier illustrate?
- Explain what non-economic (or non-market or non-capitalist) values are involved in your example and how they intersect with the economic activity you described.1. What is sustainable development? 2. What is the goals and mission of sustainable development? 3. How can we help attain sustainable development? How?Explain the concept of scarcity in general and further indicate how this is critical to the success of a business.