Microeconomic theory studies how a free-enterprise economy determines (a) the price of goods, (b) the price of services, (c) the price of economic resources, or (d) all of the above.

Q: Which of the following is an advantage of capitalist economy? a. Maximization of welfare b. Absence…

A: In a capitalist economy, the property and goods are owned and contolled by private individuals. The…

Q: A mixed economy is a combination of a __________ and _____________. a. microeconomics and command b.…

A: A mixed economy system is a system that integrates both capitalism and socialism. A mixed economic…

Q: Explain characteristic of following  economic system: Free market economy

A: Meaning of Free Market Economy: The term free-market economy is the situation under which there…

Q: What are the circular flows in the capitalist economy? Please draw it and explain at least in four…

A: Capitalist economy: It is alluded to as the monetary framework where the variables of creation, for…

Q: What are the three types of economic systems in internaional market? What criteria can we use to…

A: Economics deals with the supply and demand of resources. According to Adam Smith, the father of…

Q: Which Characteristics of economy system are the most important to a capitalist economy

A: Capitalism is the most noticeable in our present worldwide financial framework. Its principal…

Q: What are three important themes in microeconomics

A: Microeconomics studies the behavior of Consumers, firms and workers as well as how the markets are…

Q: find a current article about any micro economics topic and explain the two sides of the topic using…

A: MICRO ECONOMICS- micro economics implies the study of the aspect of economy at individual level.it…

Q: What is economic paradigm

A: A paradigm (/prdam/) is a distinct collection of ideas or thinking processes in science and…

Q: Which of the following is not correct about a socialist economic system? a. Absence of Economic…

A: Socialist economic system: Socialist economic system is a type of economic system in which all the…

Q: In a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this…

A: Kinds of economic systems regulate economic choices in various nations. They utilize different…

Q: source Allocation B. Resource Utilization C. How to maximize individual economic unit D. General…

A: Microeconomics is the branch of economics in which we study individual behavior regarding decision…

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: How does self-interest help achieve society’s economic goals? Why is there such a wide variety of…

A: The self-interest varies according to various groups of individuals. The group of producers, who are…

Q: What are the characteristics of a good economic model?

A: Characteristics of a good economic model: 1) The acquisition cost is low compared to the cash flow…

Q: In general, managerial economics refers to the integration of economic theory with business: (A)…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Islam gives complete freedom to economic enterprise with ________ a. None of the options b.…

A: Answer Option 'C' is correct.   Islam gives complete freedom to economic enterprise with some…

Q: Friedrich Hayek advocated for an economic system based on

A: In 1899, in Vienna, Austria, a famous economist was born. Friedrich Hayek is well-known in the…

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: What is the main difference between free-market systems and planned systems?

A: A market is a gathering area where people can come together to exchange products and services.…

Q: Explain characteristic of following  economic system   Free market economy   Command economic system

A: The study of economics deals with the allocation of resources in a manner that most of the human…

Q: escirbe the four basic assumptions required for a laissez-faire capitalist economy

A: Private land, private ownership of the factors of production, wealth generation, and competitiveness…

Q: Applying innovation and creativity is a process that are identified as _________________ a.…

A: An entrepreneur is a person who organises and manages a business by taking greater financial risks…

Q: Define economics and describe the two types of economic systems: capitalism and command economy.

A: Economics refers to social science dealing with the generation, distribution, and the consumption of…

Q: It is clear that productive inefficiency is a waste since resources are being used in a way that…

A: Productive inefficiency means that the same output can be produced at a lower cost of production. It…

Q: definition of standard economic theory

A: Economics: It relates to the production, distribution, consumption of goods and services.

Q: Which of the following is an example of a microeconomic topic?  a) How to run a business and earn a…

A: Microeconomics deals with factors that influence people's choice, decisions affecting goods market…

Q: Why is private property and competition are the most important to a capitalist economy? Support your…

A: Capitalist economy is the economy in which majority of resources are owned by the private party.  In…

Q: characteristics of a goal location of microeconomics business concept

A: Microeconomics: Microeconomics is a part of financial matters that review people and firms' conduct…

Q: Define Production opportunities

A: It is the ability of an individual or a firm to convert its cost into an opportunity. During the…

Q: The main economic difference between a utopia and the real world is that in a utopia, there is no…

A: The economy is the set of different activities in which economic production and consumption are…

Q: i. Classify the following issues as relating to microeconomics or macroeconomics. a) a family's…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Schools of Economic Theory

A: Introduction: Economic theory is predicated on the notion that investors and consumers are rational…

Q: (e) expalin normative economic analysis (f) explain market economy in your own words. (g) what do…

A: (e) Normative economic analysis: Normative economics gives importance to the ideas, opinions,…

Q: Mr. Yusuf enjoys economic freedom; He owns a factory which produces steel products. There are no…

A: There are 3 major types of economic system. These are, command economy, capitalist economy and mixed…

Q: Explain characteristic of following  economic system: Command economic system

A: The economic system would depend on the power and functions on the various economic agents involved…

Q: Which of the following is not characteristic of capitalist thought?a. Private individuals have a…

A: Capitalist economy: - it is that economic system where the price, quantity, and types of goods and…

Q: Explain one difference between planned economy and market economy?

A: Simply we can say that economy is considered as an resources and wealth of a division of a country…

Q: What do you think is/are the most effective and efficient economic system? Explain your answer…

A: The most effective and efficient economic system is mixed economic system. In this, there is a blend…

Q: Polanyi criticised formal definition of economics, a)because it only takes into account capitalist…

A: Polanyi believes in historical economics.

Q: why a person would rather live in a market economy or command economy.

A: When talking about economic system, market economy and command economy are two completely different…

Q: Give at least 3 Executive orders(EO) or Laws imposed in the philippines that cater the flow of…

A: Answer

Q: Describe three different kinds of economic systems.

A: Different kinds of economic systems include;    1. A command economy    2. A market economy   3. A…

Q: Explain what are economic systems? In your explanation, give indication regarding the role of an…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…