The world population will double in the next 10 years, but you personally are unlikely to eat only half as much. To explain this phenomenon, anthropologists have come up with this kind of explanation of world hunger: a. Inequality b. Division of labor c. Resource expansion d. Scarcity.
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The world population will double in the next 10 years, but you personally are unlikely to eat only half as much. To explain this phenomenon, anthropologists have come up with this kind of explanation of world hunger:
a. Inequality
b. Division of labor
c. Resource expansion
d. Scarcity.
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- Which of the following is not true about a mixed economic system? a Some of the major resources are owned by the government b Distribution of resources takes place through the market mechanism c Distribution of resources takes place through the central plan mechanism d Distribution of resources is the same as the market-based economic systemWhich is the correct interpretation of the Invisible Hand? (A) The corporations associated with weapons, pharmaceuticals, and agriculture profit, thus increasing economic growth. (B) People are less likely to trade with foreigners, since they know more about the domestic market. (C) Capitalism and the free market lead to maximum prosperity for society. (D) The gap between a worker’s labour value and the capitalist’s profit begets alien ation of labourHow might conscious capitalism be applied in international markets? Give an example of a company that has exercised conscious capitalism and why it has worked. Why is it important? How would you leverage that strategy as part of the Christian worldview? Social responsibility and Christian worldview?
- In a market economy, the compensation of labour is determined by the interaction of demand and supply in each labour market, relative compensation by the interaction of relative demand and supply. A higher price for labour leads to a higher quantity of labour supplied, a lower price leads to a lower quantity supplied and prices and wages help coordinate economic activities. Do you agree this statement if so Why?A reputable doctor quits his job, which pays $77,000 a year, to open a non-governmental organization (NGO) to serve the needs of orphans. His annual expenses for the NGO amounts to $62,700 for food and daily supplies, $9,400 for maintenance, and $1,800 for books. i. What is his opportunity cost of opening the NGO? (Show working) (4)Which is not a factor of production? Money Land Labor Capital 2 A point outside the production possibilities curve is attainable, but there is not full employment attainable, but there is not optimal allocation unattainable because the economy is inefficient unattainable because of limited resources 3. A basic characteristic of a command system is that wages paid to labor are higher government owns most economic resources free markets are never permitted in a command economy government planners play a limited role in deciding what goods will be produced
- The main differences between free markets( conscious) capitalism and crony capitalism is that: a) only crony capitalism appeals to self-interest and greed, while there is no greed in conscious capitalism b) crony capitalism enlist the power of the stat to achieve its goals, while the market is based on cooperation. c) only free markets capitalism uses incentives to fulfill its goals, while governmental institutions never use incentives to achieve goals. d) crony capitalism uses corporations, while, conscious capitalism uses small shops. e) all of the aboveA television program examining the issue of Mexican immigration stated that most economists believe immigration is a benefit to the United States. a. State the chain of reasoning underlying this view. b. From a normative perspective, is the key issue wage effects on native workers or subsidies of immigrants by the host country? Why?Which of the following is true? a. Human choice is generally not influenced by changes in incentives. b. Using scarce resources to meet one need reduces our ability to meet needs in other areas. c. The economic way of thinking stresses that good intentions usually lead to sound economic policy. d. What is true for the individual must be true for the group as a whole.
- Define the term all men created equal what might Jefferson have meant when he wrote thisA visiting American executive finds that a foreign subsidiary inBangladesh has hired a 12-year-old girl to work on a factoryfloor, in violation of the company's prohibition on child labour.He tells the local manager to replace the child and tell her to goback to school. The local manager tells the American executivethat the child is an orphan with no other means of support, andshe will probably become a street child if she is denied work. explain Cultural Relativist based on the statement givenWhy is each of these statements somewhat misleading, based on economic principles? Explain (a) “Undocumented immigrants take only jobs that no American wants.” (b) “Deporting 300,000 undocumented immigrants would create 100,000 job openings for Americans.” Try not to make this a political statement and/or personalize the questions. I am looking for answers based on the economic principles
