In advanced technology and capital goods are encouraged. Select one: o a. Market Economic System O b. Socialism Economy O c. Command Economic System O d. MixedEconomic System
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A:
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In
advanced technology
and capital goods are encouraged.
Select one:
o
a. Market Economic System
O b. Socialism Economy
O
c. Command Economic System
O d. MixedEconomic System
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- Below are three 3 microeconomics statement condition(MESC). Identity the type of economic system. Enumerate one advantage and one disadvantage per statement/condition and explanations. 1. The state regulates income inequalities. 2. The government intervenes to try to reduce market failure. 3. No one is responsible for trying to eliminate unemployment.MULTIPLE CHOICE (identify the one best answer and provide explanations): Consider an economy inwhich each worker has one machine and one unit of natural resources. Assume these inputs are fixed,and so is the worker’s human capital. But there has been an improvement in technology. We can surelyconclude that productivity has increased if:a. the amount of goods and services produced from each hour of the worker’s time increases.b. the amount of goods and services produced by the worker increases relative to a worker inanother country.c. if the amount of goods and services produced by the worker in a given year increases.d. all of the above.e. none of the aboveSeveral characteristics of capitalist economic systems are listed here. Indicate in the space beside each characteristicwhether it best describes individualistic capitalism (IC) or communitarian capitalism (CC).____ a. government and business cooperation____ b. high job mobility____ c. profit maximization____ d. more value placed on the interests of employees and consumers____ e. self-interest paramount____ f. long-range economic planning
- describe of How managerial economics ( micro economics ) works in our professional life ( real life example please) and personal life ( real life example please)?Subject: Managerial Economics & Policy MCQs: Cement industry is a subject matter of a. Microeconomics b. Macroeconomics c. Both A & B d. None of the aboveClass Activity •Choice land has 250 workers and produces only two goods, X and Y. Labouris the only factor of production, but some workers are better suited to producing X than Y (and vice versa). The Table below shows the maximum levels of output of each good possible from various levels of labout input a)Draw the production possibilities boundary on a scale diagram, with the production of X on the horizontal axis and the production of Y on the vertical axis. b)If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of X
- Economic is a social science that is considered a precise art.EM.19 Billy is an economics student and can use a practice exam to test his knowledge. After one hour of studying, he scores 50% on the exam. After two hours, he scores 75%. After three hours, he scores 85%. After four hours, he scores 90%. What economic concept is most clearly illustrated here? a diminishing marginal returns b worker fatigue c input inefficiency d opportunity costadvanced microeconomics, bargining
- (e) expalin normative economic analysis (f) explain market economy in your own words. (g) what do you mean by centrally planned economy? (h) sugar industry is a subject matter of micro economics. Give reason?a.Discusses the principles of individual decision making with examples b.Explain with your own words the determinants of price elasticity of demand. c. The production possibilities frontier curves show the concepts of scarcity, choice, opportunity cost, efficiency and economic growth. Discuss with examples, d. Do you think that the pure market economy in these circumstance of COVID 19 play an effective role in economy? Give four evidences from your point of view. ReplyForwardWhich of the given options would be studied in a microeconomics course? (A) How an increase in the tax rate affects the overall performance (B) Comparison of inflation rates between countries (C) How a trade agreement between the United States and Mexico affects both nations’ unemployment rates (D) Impact of rental roofs on the housing supply
