Q: The present choice between investing in capital goods and producing consumer goods now affects the…
A: Consumer products are only useful in the short term and do not generate wealth. Capital items will…
Q: In what way is appoed economics important in tackling economic issues or problems of the country?
A: Applied economics is the appliance of financial assumption to conclude the expected outcome allied…
Q: How is it that the problem of who to produce for is resolved in the capitalist system?
A: A capitalist system is an economic system that is run by the free enterprises of the market. In this…
Q: How can the decision of U.S. citizens to save money cause economic problems for the economy?
A: The economic problem means that the country’s scarce resources are not sufficient enough to satisfy…
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: Is economics one of the most important in the world?
A: In a world, various activities, actions, and events took place in which people interact with each…
Q: What are the two major economic problems in economics
A: Economics is the study of allocation of limited resources. The fundamental economic problem is about…
Q: Define in your own words what is production and what are the factors that enhances the production in…
A: Introduction and definition if production is given below:
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: The three fundamental economic questions are what to produce whom to produce and_________?
A: Generally considering an economic entrepreneur or agent there are three fundamental economic…
Q: kinds of economy?
A: 1. Haiti is a Market Economy in which the forces of demand and supply regulate the market. 2. China…
Q: why do individual producers or nations have to choose the type, quality, and quantity of what they…
A: The resources of production are limited in amount so the individual, producers or nations have to…
Q: Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a…
A: The economic approaches can be mainly studied under two categories- positive statements, that are…
Q: How can you say that economics is part of today's society?
A: The resources in our economy are limited while the wants are unlimited. This makes the resources…
Q: educational institutions help further in the preservation of our history and culture?
A: Culture: The qualities and knowledge of a particular group of people comprising language, religion,…
Q: Which three key questions do economists try to answer?
A: Economists try to solve various problems existing in the economy.
Q: What are the economic problems and how we do resolve these problems? ( Explain 4 problems and their…
A: All societies face economic problems which is a problem of how to make the best use of scarce…
Q: What is OECD Guidelines? How does it work/purpose? Example?
A: The Organisation for Economic Co-operation and Development (OECD) is a 38-country intergovernmental…
Q: Who is more responsible for economic system? Government, households or firms and why
A: Economic system is the means by which households, firms or governments organize and distribute…
Q: mic
A: The science which studies how people tend to interact with each other along with the prospects of…
Q: What are three basic economic questions?
A: Economics is the subject that studies how to allocate the limited resource between the unlimited…
Q: If a politician says that she thinks that healthcare is a basic human right, she is make a ...…
A: Positive statement is the statement that tells as it is. For example, the inflation in the economy…
Q: What is global economy? What are its 4 characteristics?
A: The world economy, also known as the global economy, refers to the global economic system, which…
Q: Can you help me provide a normative statement and an example of a positive statement from a recent…
A: The normative statement is the subjective statement in which valued judgment is passed on the…
Q: Which is the largest figure in economics?
A: Gross nominal product is the largest figure in the economics.
Q: economy not achieve multiple economic goals simultaneously?
A: Basic features of an economy are - 1) resources our scarce or limited 2) while wants are unlimited…
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 the 5 economic systems?
A: ‘Economic system’ is a means or tools by which society or government controls, distributes the…
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: Define the basic terms in economics based on the pictures.
A: The photographs in the question is related to basic economic terms, which are as under.
Q: Why are individuals, businesses and countries forces to weigh the benefits and costs of their…
A: The economics as a study works upon the basis of the use of resources which are available with them…
Q: How is having quality education a necessity in either creating a sustainable city or in living in a…
A: In an economy, education is considered as one of the drivers of economic and social development as…
Q: What should we produce? How should we produce it? For whom should we produce it?
A: Answer: Introduction: "What should we produce", "How should we produce it", and "For whom should we…
Q: What’s a economic example
A: Demand is the total quantity of goods buyers are willing to purchase at a different level of prices.
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: How does health, wealth, and happiness of an economy might tie into the business world or be…
A: Government may be of certain types. In democratic government, it is found that there is both public…
Q: how do we make the best use of the available resources
A: Scarcity: - it is a very basic problem of economics that is related to the limited availability of…
Q: How does the study of the population affect us as a human beings?
A: Population ecology is the study of how plants, animals and other living things change over time and…
Q: What are examples of society's widely accepted economic goals?
A: Economic goals: - Economic goals are the desired conditions of the people of a country which improve…
Q: What are the 3 basic economic problems? Briefly
A: An economic problem is one that arises as a consequence of a scarcity of resources and requires…
Q: Why socio-economic issues the people’s top concern in an economy are?
A: socio-economic issues The socio-economic issues are the problems the economy is facing. They have…
Q: What role of government do you thỉnk is the most important from an economic perspective and why?
A: The economics as a study is associated with the use of resources, where the resources with the…
Q: List 5 important of economics
A: Answer: The study of economics enables us to reach the conclusion of a problem on the basis of data…
Q: Primary activities in economies can be thought of as economic production taken from the earth. True…
A: Primary activities: Primary economic activity includes anything and everything in the economy that…
Q: what are differences between 4 economic systems?
A: An economic system is a way for governments or communities to distribute and organise resources,…
Q: The single biggest item state and local spending is spent on is its only one option a.…
A: According to the government budget survey, the state and local government expenditure fall under the…
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