Explain the Economy and Society?

Q: what is economic activity?

A: Economic Activity is not related to something specific, it includes the process of production,…

Q: What is economy type does the United States have?

A: The U.S. is highly developed country and has a mixed economy. The U.S. economic system features…

Q: What examples do you have of goods and services that were once luxuries, which have become…

A: Luxury goods are those whose demand increases as people's income increases.

Q: What is the economic values?

A: (Q) What is the economic values?

Q: Discuss what markets are?

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: How does the economy work?

A: An economy is a complex web of interrelated generating and consumption activities that determine how…

Q: you must make decision for one choice, could you discuss what economic principles or concepts that…

A: Consumers' preferences of goods and services are at the heart of economics. Market forces decide the…

Q: Use economics to explain why people smoke even though they know smoking is not good to their health?

A: Utility is a term referring to the overall satisfaction obtained from consuming a good or service.

Q: Goods that can be used to replace one another are called What?

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Why does economy exist in the world?

A: Economics is the study of household management and the activities related to the business or firm in…

Q: How can studying economics help you as a student?

A: Studying economics can help students by exposing them to theoretical approaches within the field of…

Q: What are disadvantages of free market economy ?

A: Free Market Economy is the one in which buyers and sellers act in self-interest. It is open for…

Q: On what are the Economic decisions based?

A: Economic decisions are the decisions made by the economic agents to pursue a goal and achieve a…

Q: How can economic changes affect society?

A: Economic changes can affect the society in various ways: 1. The cost of living has the significant…

Q: Economics..

A: The workforce or labour force is a concept referring to the pool of human beings either in…

Q: What is produce.?

A: Let's think about the first issue: which goods should be produced, and in what quantities? Producing…

Q: What type of economy is best?

A: There are mainly four types of economic systems: Traditional economic system, command economic…

Q: . What is the benefit of something measured by what you are willing to give up?

A: Measuring the things which are going to be given up will help to compare the decisions, the cost and…

Q: What is a human person?

A: Individual economics deals with the people in the economy and their efforts towards the development…

Q: What are economic issues?

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: four

A: The characteristics of economic systems are : Command Economy : the government is in turn control…

Q: Write a positive statement and a normative statement about your favorite hobby.

A: Positive statements are those statements in which we can answer with 'yes' or 'no' replies, whereas,…

Q: What are the main features of urban economy?

A: Urban mode of life is sort of contrary to traditional rural life, though it's affected rural life…

Q: what to produce

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: principles that describe how the economy as a whole works

A: Economy Economy is described as the area in which various amounts of consumption, production, and…

Q: Must some members of society receive greater rewards than others?

A: Labor productivity: - Labor productivity is the capacity or ability of labor to produce goods and…

Q: According to Adam Smith who should manage the economy for the nation? Why?

A: An economy refers to the management of the country's money, trade activities, industrial…

Q: List 1-3 things that you learned about basic economic concepts.

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: what was the economic event and how did you solve the problem

A: Every one of the events which can be estimated as far as cash are named economic events and are…

Q: What Is Cost-Effectiveness Measures?

A: Cost(C) is an important component of production. The ‘cost of production’ refers to the total…

Q: pen down a note on ECONOMICS.

A: Economics is a subject matter which deals with production, consumption and distribution of goods and…

Q: What is good and services

A: Economics is the study of individual behavior and concern with how they earn their living in the…

Q: What is beautiful?

A: Beautiful is a term related to the attractiveness of a place or person.

Q: the economy. Explain

A: The formula for the national product in the economy is as follows NATIONAL PRODUCT = DOMESTIC…

Q: c. to raise the standard of living for everyone in the country d. to allow consumers and producers…

A: Most countries began to abandon the concept of a free-market economy after the Great Depression.…

Q: Importance of business?

A: Production refers to the process by which goods and services are produced or manufactured or…

Q: How many sectors of economy are there?

A: Economy: It is the system of organizing money, industry, and trade of a country or region.

Q: What is business planning?

A: In a layman language , We can define Planning as deciding in advance what to do and how to do a…

Q: Give one merit and one demerit of a socialist economy?

A: A socialist economy is the one in which all the considered legal production and decisions related to…

Q: societies make decisions about who gets the goods they produce by:

A: In a society, producers generate different types of products and services to offer I remarks that…

Q: Advantages of market economy

A: A market economy  in which the forces of supply and demand generate price signals that drive…

Q: Kayla has a business making steel ornamental lawn statues. The machine she uses to join pieces of…

A: There are 4 types of productive resources namely land, labour, capital & entrepreneurship. These…