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 is a way we can estimate how much a life is worth and Is this beneficial for society?
A: The value of life, also known as the implied cost of averting a fatality, is an economic variable…
Q: What’s the invisible hand?
A: The concept of the invisible hand was introduced by Adam Smith in his 1759 book The Theory of Moral…
Q: How do Adam Smith’s principles of the free market play out in our economy today?
A: Adam Smith is a well-known economists till now as he gave many economic theories and models to help…
Q: In your own words explain how the world's economy work.
A: World economy is aggregation of all economies across the world. The globalization is key factor…
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: What are the 3 basic economic questions?
A: The three basic questions in economics is are based on the choices that societies should answer in…
Q: Trying to figure out (iii )?
A: Marginal revenue of a firm is calculated using the given formula: change in total revenue divided by…
Q: What are the 3 economic questions?
A: Economics refers to the study of household management which combines social and capitalist benefit…
Q: Why do we formulate policy?
A: A policy is a set of principles intended to direct decisions and produce objective outcomes. A…
Q: how do you deal with opportunity cost
A: Opportunity cost is the cost or value of the next best alternative which an individual foregoes to…
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: 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: 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 are economic issues?
A: Meaning of Economics: The term economics refers to the situation under which there remain…
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 is a business and how does it work?
A: The term business refers to the combine efforts of individuals who are engaged in the profit-making…
Q: How the study of history of economics help people in their daily life
A: Economics is related to many aspects of the world. Various countries in the world are carrying out…
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: Which economic system works best for societies?
A: An economic system is a system that determines the production and distribution of goods and…
Q: Why do companies need to engage in the circular economy ?
A: Organization refers to a company that provides employment to people. An organization provides goods…
Q: How does the economy defined the business financially
A: A business is part of the economy, where goods and services are exchanged or sold at a particular…
Q: Explain the Economy and Society?
A: The word economics is derived from the Greek word Oinkonomia which means the management of…
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: Which type of economic system do you support? Why?
A: The mixed economic system, market economic system, and the command economic system are the three…
Q: write down about the econmics systems.
A: Economy: It is a system that organizes money, industry, trade of a country or region.
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 your opportunity cost for taking the time to study for a test?
A: opportunity cost is the cost of the next best alternative foregone. It is calculated by comparing…
Q: Why is “how to produce” a problem in every economy?
A: The central problems all the economies around the world face are "What to produce, how to produce,…
Q: What are three ways that starting a new business helps the economy?
A: The concept of management and development of a business venture for gaining profit through taking…
Q: What is beautiful?
A: Beautiful is a term related to the attractiveness of a place or person.
Q: What are the best institutions for achieving economic goals?
A: An institution is a social structure in which people tend to cooperate and also influencing the…
Q: the economy. Explain
A: The formula for the national product in the economy is as follows NATIONAL PRODUCT = DOMESTIC…
Q: Can i get help solving this question?
A: Here, GDP in year 1 = $2000 GDP in year 2 = $2200
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: What is the story for this question?
A: The effects of a shock involving a fall in money supply can be well explained using the IS-LM…
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: What is the opportunity cost of going to college?
A: Opportunity cost is the next best alternative foregone. Opportunity cost=sacrifice/gain.
Q: How population affects the entire economy?
A: Economy refers to the management of the household activities along with the management of market…
How does the economy work?
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