Choose the one that is correct about capitalist economic system. a. Private ownership of factors of production b. Absence of technology c. Maximization of social welfare d. Unlimited government control
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- 1. It regulates the engagement between the producer and the consumer. A. Chamber of commerce B. Local community C. Government 2. Economic development is measured by looking at A.Wealth of the community B.Quality of life C.Type of businesses present 3.It is regarded as the engine of the economy. * A.Entrepreneurship B.MSME's C.Education 4.The future belongs to those who can think like a; A. Positive person B.Scientist C.Entrepreneur 5.Which of the following is an entrepreneurial mindset? * A.Vulnerable Mind B.Resilient Mind C.Rigid Mind 6. is more interested in being unique. A.Independent Mind B.Risk Managing Mind C.Designing Mind 7.It is determined to achieve stretch goals. * A.Resilient Mind B.Independent Mind C.Goal oriented and effectuating mind 8. It has the propensity to take calculated risks. * A. A positive mind B.Risk managing mind C. Calculated risk mind 9.It…In capitalist system, they are many fraud and illegal things happened. Why it happen?Reflect on the concept of utopia (see Chapter 5) Using course materials and what you have learned in the Unit, describe a general, hypothetical utopian (ideal) society. In your essay, pay close attention to describing the political, economic and social characteristics of this utopian society. Just use books material as source Here’s the link for chapter 5 https://books.google.co.in/books? id-SBICDAAAQBAJ&printsec-frontcover#v=onepage&q&1-false
- Most economies in the world are built in a way that both the government and the private sector make economic decisions together. What type of economy is being described here? a. Capitalist economy b. Socialist economy c. Mixed economy d. Communist economyConsidering yourself to be a Capitalist Economist, how would you answer the basic economic questions i.e. What is to be produced? How is to be produced? And for whom to be produced? Explain with reason.Give written answer with explanation and conclusion 1. What type of economic systems exist in Germnay? (i.e., capitalist, planned economy, etc..) which are more attractive for Korchmar?
- Adam Smith believed that the ideal capitalist economy is “self-motivating, self-coordinating, and self-regulating.” Give three (3) examples of how, in your view, the U.S. economy departs from Smith’s ideal. Don’t just state the example. Support your points of view. (100 words maximum)Which economic activity is a praxis through which people transform nature to meet their needs in the mean time they transform themselves : a) circulation b) production c) division of labour d) consumptionExplain Scarcity and why it exist. also give examples
- The economic institution that transforms factors of production into consumer goods is: a. a firm. b. the government. c. lending institutions such as banks and credit unions. d. the stock market.Connect In a free market system, how are incentives related to the principle of consumer sovereignty?Topic A Problem: A friend of yours says, “in a capitalist economy, if people are willing to pay a lot for something, then businesses will charge a lot for it.” Is your friend’s statement always true? If not, when would this statement be false, and why? please answer using microeconomics terms,for example businessess in competitive markets. thanks.