Major forces that helped the transition from feudal system to market were a. Expanding town and merchants traveling. b. Fighting among the feudal lords. c. The change in the religious beliefs of the time. d. All the above
Q: POSSIBLE POINTS: 1.59 Stephen is a 12 year-old Amish boy in Pennsylvania. His father raises horses…
A: Answer: Traditional economy: In the traditional economy, the next generation takes up the occupation…
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: 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: s. What is Economic System? And differentiate pure market and pure command economies with respect to…
A: Economic system consist of command economy where only government is involved. Mixed economy where…
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: Human capital refers to society’s understanding of the best ways to produce goods and services.
A: ‘Human capital’ refers to the compilation of ‘skills’, ‘education’ , ‘technical’ & ‘process…
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: Is opportunity cost a lost income? A. Yes B. Not
A: Economics is the study related to production, consumption, and transfer of money
Q: everyone used to be poor,” then how did some ancient civilizations afford to create massive…
A: A competitive market is a design wherein no single purchaser or maker has the ability to impact the…
Q: Sultanate of Oman is classified under which economic system? a. Mixed economy b. Communist economy…
A: Sultanate of Oman is a city located on the southeastern coast of the Arabian Peninsula that has…
Q: For the political economic systems fill in the blank using an economic system or a government. 1)…
A: 1.Capitalism=demand+supply. 2.Mixed free enterprise=demand+supply+slight public sector,slight…
Q: In the 1990s thousands of “dot-com” companies emerged with great fanfare to take advantage of the…
A: Economics: Economics is all about making choices during the scarcity and allocation of these scarce…
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: in the production process is central to why th The role of States is rich and most of the rest of…
A: Land, labor, capital, and entrepreneurs are factors of production for any nation. These factors help…
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: Beginning in the late 1970s, economic reform in China allowed farmers, for the first time, to keep a…
A: China started a series of economic reforms in 1979. The central government provided farmers with…
Q: In the 1990s thousands of “dot-com” companies emerged with great fanfare to take advantage of the…
A: The economy has scarce resources and unlimited wants and has a major of three questions which each…
Q: The main differences between free markets( conscious) capitalism and crony capitalism is that: a)…
A: Free market is a marketplace where is buying and selling of goods and services and the price of the…
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: The concept of "invisible hand" refers to Select one: a the central planners b.the government c.the…
A: The imperceptible market power that helps the interest and supply of products in a free market to…
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: ________ is a fundamental aspect of economic system in which individuals, rather than the state,…
A: Economic freedom or liberty is a fundamental aspect of an economic system in which individuals,…
Q: Economists believe everything is scarce EXCEPT a. technology b. wants c. time d. money e. knowledge
A: In Economics, the term ‘scarcity’ refers to the state of being limited and finite. The resources…
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: From the Microeconomices, regarding to the MRS, how they work out for Ux and Uy? For example:…
A: Marginal rate of substitution refers to willingness of given up units in order to gain some other…
Q: You win Rs 10,000 in a horse race. You have a choice between spending the money now and putting it…
A: Economics is a branch of social science that deals with the production, distribution, and…
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: Analyzing JS Mill’s utilitarianism, how do you think will he (Mill) react to the current mode of…
A: Utilitarianism is the most common vocabulary used in higher education by reformers, many…
Q: Name 2 reasons why socio economic issue pase a challenge to the business
A: Socio Economic Issues are those problems which are resultant of some aspects in the society and…
Q: Ha-Ha Land's economic system has the following characteristics: i) households could only own the…
A: B. Market Capitalism
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: Which of the folowing examples explains how the United States is a Mixed Economy? O A. Most…
A: A mixed economy is one that has the elements of both a socialist as well as a capitalist economy. It…
Q: 1. It is a kind of economic system that is paternal, kinship in nature. A. Traditional economic…
A: The economic system that is paternal, kinship in nature means the business is getting done by the…
Q: 22) In a free-market system, A) all economic decisions are made without government intervention. B)…
A: Free market refers to the situation where the economic decisions are made by the market without…
Q: In which work did Adam Smith discuss the idea that self-interest implies one is more interested in…
A: Adam Smith wrote on his various works related to the analysis of an economy and it's functioning…
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: During the Revolutionary War, the American coloniescould not raise enough tax revenue to fully fund…
A: Inflation is the general increase in the level of prices in an economy.
Q: The two main forms of economic organisations are a the hierarchy and the market b the…
A: Economics is a social science that deals with micro and macro economics. Microeconomics deals with…
Q: 4. Which of the following is a more attractive place to do business? a. A nation that lacks…
A: Several internal and external factors can have an impact on business operations, either directly or…
Q: 14. Which of the following is not a type of economic system? a. traditional b. command c. market d.…
A: The economics as a study is based upon the idea that the resources which the economies have tend to…
Q: The opportunity cost of working is __ Select one: a. the wage you earn for the time spent working.…
A: d. what you would have done during the time if you were not working.
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: xamples can you think if it were in the Philippine setting?
A: The process which tends to examine how people prefer making choices under conditions of scarcity and…
Q: 41. Who gave 'Invisible Hand' theorem? (a) Robins (c) Karl Marx (b) Marshall (d) Adam Smith
A: # The concept of invisibly hand takes into consideration that no government intervention is required…
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: 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…
Step by step
Solved in 2 steps
- Question: Which type of Economy is Indian Economy?[A] Mixed[B] Market[C] Capitalist[D] SocialistPlease Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave 30 dislikes for you and more from my friends accounts also.Reading Comprehension A. In most countries, the governments spend a lot of money on education. But while most people agree about the importance of education, there are many arguments about how it should be provided. B. So, why do people go through the education system? An obvious answer is: ‘To get jobs.’ But job related skills can be learned in the workplace, so why have a separate education system? There are many possible reasons. General qualifications can help employers compare students and find the most talented, or they can help children develop life skills, such as number skills or reading and writing skills. Schools can also teach young people about other cultures and the world around them, so they can be responsible global citizens. They may want to educate students about where they live, so they can be proud of their country and their background. C. What should be taught to students depends on the purpose of education. Compulsory subjects are the subjects a…Name 2 reasons why socio economic issue pase a challenge to the business
- A.Explain why newly posted job vacancies are not filled instantly when there is unem ployment? B. Capitalism Why did the institutions of capitalism lead to growth in living standards?Which 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 supply1. It regulates the engagement between the producer and the consumer. A. Chamber of commerce B. Local community C. Government 2. Economic development is measured by looking at A.Wealth of the community B.Quality of life C.Type of businesses present 3.It is regarded as the engine of the economy. * A.Entrepreneurship B.MSME's C.Education 4.The future belongs to those who can think like a; A. Positive person B.Scientist C.Entrepreneur 5.Which of the following is an entrepreneurial mindset? * A.Vulnerable Mind B.Resilient Mind C.Rigid Mind 6. is more interested in being unique. A.Independent Mind B.Risk Managing Mind C.Designing Mind 7.It is determined to achieve stretch goals. * A.Resilient Mind B.Independent Mind C.Goal oriented and effectuating mind 8. It has the propensity to take calculated risks. * A. A positive mind B.Risk managing mind C. Calculated risk mind 9.It…
- Describe different market structure in local economy of narowal explain with real life examplesNo Plagiarism Please! 8. Explain the difference between capitalism and communism. What role does the government play in each type of economic system?From the Microeconomices, regarding to the MRS, how they work out for Ux and Uy? For example: U(x,y)=xy/x+y.Thank you
- A balanced federal budget and a balance of trade are secondary goals of macroeconomics, while growth in the standard of living (for example) is a primary goal. Why do you think that is so?4. Only people who have certain natural talents can be Entrepreneurs. 5.Entrepreneurs are extreme risk takers 6. Entrepreneurs seek success but experience high failure rates 7. Ignorance is bliss for Entrepreneurs 8. All Entrepreneurs need is luck 9. Money is what the Entrepreneurial venture need to survive 10. Entrepreneurs must fit the standard Entrepreneurial profileRegarding the economic system, there are three types summaries these type by determining the advantages and disadvantages of each one amd which one is the best from your perspective and why?
