Technological change is a combination of invention and innovation. Explain these two terms with an example.

Q: Discuss the following statement: “Those who argue that technological progress does not reduce…

A: Employment reflects the state of a person being employed in some work in an organization. It…

Q: Explain idea of convergence or catching-up effect in detail?

A: The theory of convergence states that if a country is less developed then the growth rate or the…

Q: Macroeconomics is about all the following except

A: Economics is the study of scarcity and unlimited wants. Scarcity means that resources are unlimited…

Q: Do you feel that technology positively or negatively impacts economy? Cite two examples from the…

A: In economics, technology is something that allows to manufacture goods faster, better, or cheaper.…

Q: List and describe determinants of productivity.

A: In economic terms, productivity refers to the total output produced per unit of input, this input…

Q: Economics starting from the 1870's ......... choose one or more : a) has become increasingly…

A: Economics is a subject which deals with the consumption, production and distribution of commodities.…

Q: How does profit motive affect innovation and economic productivity?

A: Productivity is the ratio of output and input.

Q: Provide one example of a macro economic question, and one example of a micro economic question, and…

A: Macroeconomics: It is the wider concept then the microeconomics concept , that is if we consider the…

Q: When we speak of "capital" in economics we mean? a. financial instruments like stocks and bonds b.…

A: Answer: Correct option: (b) Explanation: In economics, capital is the term used for goods used to…

Q: The image below represents the circular flow model. Click on the letter (A, B, C, or D) identifying…

A: The circle flow when there are firms and households are interacting with each other. This…

Q: Discuss the importance of studying macroeconomics from business perspectives.

A: Economics is the study of allocating the scare resource in the most efficient way. The study of…

Q: what is entrepreneur? in your own words essay

A:

Q: Discuss the following statement Those who argue that technological progress does not reduce…

A: In an economy, technological progress refers to the situation when more and more use of capital and…

Q: Define production and What are the factors of production and what are their reward payments?

A: In economics, we answer the three basic questions: what to produce, how to produce, and for whom to…

Q: What is the circular flow of economic activity a model of? O the movement of goods, services, and…

A: Throughout its most basic version, the circular flow of economic activity model attempts to analyse…

Q: in your own words , summarize the relationship of science and technology, social , cultural,…

A: Answer: Science brings innovation through experiments research and the process of innovation and…

Q: What can we learn from Malthusian Theory?

A: The two important things that matter according to Robert Malthus: *Population *Means of substance…

Q: Do you feel that overall technology positively or negatively impacts the economy? Cite two…

A: Production function of a firm shows the technical relationship between output produced and inputs…

Q: The challenge of how to achieve the highest possible satisfaction of needs using scarce resources is…

A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the…

Q: Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier…

A: Macroeconomics – It is the branch of economics that studies the entire functioning of a national…

Q: A good economic theory

A: Economic theory is a set of broad ideas or assertions that attempt to explain economic reality. It…

Q: In your own words, Discuss the Idea of convergence and Divergence

A: Convergence and divergence are the two phenomena that portray the growth patterns between the…

Q: Why is scientific literacy is important? Answer can be related to decision-making, economic…

A: There is a type of government which is known as communist type of government. In this type of…

Q: why Technical Writing is synonymous with effective communication

A: Technical writer is a professional information communicator whose job is to communicate information…

Q: Economic is a social science that is considered a precise art.

A: The study of societies and the relationships among persons within those communities is referred to…

Q: Explain what is meant by the following statement, "an increase in productivity with respect to any…

A: Productivity refers to the ratio of total output produced by the total inputs used to produce the…

Q: With the aid of diagram, explain the economic concept of scarcity, efficiency and full employment…

A: The economic concept of scarcity, efficiency and the full employment and the trade off are the…

Q: Enlist and explain briefly the drivers of development.

A: policymakers and economic development officials can use ideas about what creates growth as a reality…

Q: i want real life examples of labor-intensive technology and capital-intensive technology :

A: Labor intensive technique is that which uses comparatively larger amount of labor and tiny doses of…

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

A: (a). Micro economics.(b). Micro economics.(c). Macro economics.(d). Micro economics.(e). Macro…

Q: How does innovation disrupt the flow of an economy to any given organization? Discuss

A: When talking about the term 'disrupt' it can be said that it is the hurdle or disturbance in a…

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: What is the essence of studying the various fundamental laws and theories of learning? Explain.

A: Learning is the process of acquiring skills, knowledge, attributes, and values.

Q: How does profit motive affect innovation and economic productivity?

A: Profit motive: The benefit rationale is the inspiration of firms that work to amplify their…

Q: Discuss the factors of production and how it can be accessed.

A: Factors of production are important for carrying out business activities and for overall economic…

Q: What would be another example of a system in the real world that could serve as a metaphor for micro…

A: Microeconomics reflects on the function played by customers and enterprises in the market, including…

Q: What is the importance of studying macroeconomics in our daily lives?

A: Knowledge can be gained from any resources. However, it is mostly specialized for better reach and…

Q: Which of the following may influence technological progress?

A: Technological progress help to increase the economic growth with the efficient use of resources,…

Q: Describe an interaction in the business world that can be described as each of the following. Note…

A: Since you have asked multiple questions, we will solve the first two for you. If you want any…

Q: What is the difference between micro and macro inventions in the industrial revolution, in Allen's…

A: The conceptualization of macro-and micro inventions has educated a lot regarding the new…

Q: What is the relationship between average production and managerial production?

A: Total product refers to the output amount that can be produced by a given amount of variable factor,…

Q: Which of the following word is not related to entrepreneurship? a. Innovation b. Creativity c. Needs…

A: Which of the following word is not related to entrepreneurship? a. Innovation b. Creativity c. Needs…