Q: For the political economic systems fill in the blank using an economic system ora government. 4)…
A: 4)Fascisim=market+dictatorship+slight private sector and more public sector.
Q: Discuss "free market economy" using definition, characteristics, advantages and disadvantages
A: Free market is market where economic decisionwhat to produce, how to produce and for whom to produce…
Q: The Chinese government controls all factors of production, the Chinese government has which type of…
A: Let us understand the different market systems in question: A) Capitalism: Under capitalism, the…
Q: Explain the idea of the “invisible hand” by adam sith by using the product of shoes to explain how…
A: Adam Smith gave the idea of free markets which means that forces in the economy adjust automatically…
Q: What are the types of market failures in an economy? and gave two examples of each.
A: Market failure occurs when the price system in the economy fails to factor in all the economic…
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: Discuss economics as a social science
A: Economics is the study of behavior of consumers, producers, households and business.
Q: Is there a need for the government to talk about Economics in layman's term? Justify and explain.
A: Government. in general, is known as the authority that is meant to make major decisions regarding…
Q: How might the quality of life ultimately be determined and measured?
A: Standard of living is the level of comfort, necessities, material goods, and wealth available to the…
Q: the difference between mercantilism, liberalism, and Marxism. How does each view the purpose of…
A: Mercantilism was a trade-related economic policy that mainly existed from the 16th to the 18th…
Q: Which of the following types of economy describes the economy of the SULTANATE OF OMAN? A ) Amarket…
A: Market Economy: In this economy, the production and prices are determined by the private ownership…
Q: Q.1. Explain with examples various economic systems exist in the world. Oman following which…
A: sorry for inconvenience however i can only answer 1 question (upto 3 subparts) in one session.
Q: Why there is a need of an Islamic Economic system
A: An economic system is a system in which resources, goods, and services are allocated to the society…
Q: What do you see as the biggest difference between market and non-market economies?
A: Market economy is run by private people. There is private ownership of factors of production in…
Q: Can you think of any examples of free goods, thatis, goods or services that are not scarce?
A: Goods and services are produced in the economy. These goods are manufactured and sold to public as…
Q: Issues/problems of economy as a social institution? Explain and add a solution to that problem.
A: Issues and the problems identified in the economy as the social institution are the…
Q: Which is a more serious problem between market failure and government failure?
A: Government intervention to resolve market failures, and to manage the macroeconomy, can fail to…
Q: One can argue for free markets in two ways. One is to say that free markets are efficient. What is…
A: Free market: It is where the economic variables, eg. price(P*), quantity(Q*), wage(w*) etc. are…
Q: Explain how Islamic economic system ensures the distribution of goods and services in the economy is…
A: Islamic economic system: It is a theoretical construct of an industrial economy in which the Islamic…
Q: 1.1. What type of economy is the South African economy? A. A command system B. A mixed economy C. A…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Explain "Fairness and Equality or giving all the people same opportunity"
A: The study of economics take into consideration the allocation of the resources which is available in…
Q: A leader of the Labour Party in the United Kingdom, Jeremy Corbyn, proposes the creation of a…
A: A proposal of national education service as a universal will be great for those who can't afford the…
Q: regulate production · Each individual works for his own success Pure Communism • Government does not…
A: A centrally planned economy, often known as a command economy, is an economic system in which…
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: Which economic system does a better job improving living conditions for the poor, capitalism or…
A: The system through which governments or society organizes and distributes the availability of…
Q: What are the advantages and disadvantages for a country to implement economic planning?
A: Since you have asked two questions, I am answering the first one for you. Economic planning refers…
Q: Which of the following is not an issue that economists are interested in microeconomics? Lütfen…
A: Microeconomics is a social science that investigates the consequences of incentives and actions,…
Q: How market mechanism solves the basic economic problems?
A: The market economy will help to solve the economic problems.
Q: Compare the economic systems: Capitalism, Socialism and Mixed Economy. Also explain that in which of…
A: Capitalism, Socialism, and Mixed Economy. Answer: Capitalism refers to a free market system that is…
Q: Imagine that the leaders of a poor nation with a centrally planned economy become willing to try a…
A: As we know that Economy is that system in society where people earn their livelihood. And engage in…
Q: Being a Business Economics student, give and briefly explain at least Five (05) new economic…
A: Answer: Pakistan government should adopt an expansionary fiscal policy to fight economic depression…
Q: Identify the gaps/flaws of Capitalist and Socialist economic systems.
A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…
Q: explain what socio-economic theory assumes about people’s behavior. What are some of the social…
A: The study of the connection or interaction between social behaviour and economics is known as social…
Q: Which economic system is characterized by having all public or government owned resources? O…
A: Not each economy has a similar economic and social environment, and these changes occur due to…
Q: Why is the study of economics important to democracy and why is it important for society to have an…
A: ExplanationEconomics is a subject that deals with the relationship between individuals who are…
Q: different initiatives of the government to address the social injustice
A: Social injustice depicts the injustice faced by an individual or group at social level.
Q: Explain the central problem of “how to produce” in economics
A: According to the given question All the societies faces the economic problems in the country which…
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: 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: The main objective of the social economy from the Islamic perspective is A ) green environment…
A: Islam in the economy is referred as set of principles of the organization of the economic activity.…
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: What are all the economic market structure and their differences? How to identify the market…
A: Dear Student as you have posted multiple questions, but we can attempt only 1 question at a time…
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: What are the rule of government to achieve moral & value in the economic in scope of Islamic…
A: Meaning of Economics: The term economics refers to the situation under which there remain…
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Solved in 2 steps
- What mechanism Islamic economic system provides to encounter those flaws? Those flaws mean Identify the gaps/flaws of Capitalist and Socialist economic systemsIdentify the gaps/flaws of Capitalist and Socialist economic systems. What mechanism Islamic economic system provides to encounter those flaws?Explain how Islamic economic system ensures the distribution of goods and services in the economy is just and fair.
- The main objective of the social economy from the Islamic perspective is A ) green environment B ) charity. C ) financial intermediary D ) social justice.What does the Third World country mean to the subjects of Economics?what can the government do to provide awareness and knowledge about people who are not literate in economics or don't have background on it?