To focus on producing one thing to improve productivity is known as: a) International trade b) Supply and Demand c) Absolute Advantage d) Specialization
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- Agriculture is the backbone of Africa. But Africa has high poverty rate and the a large amount of money is still used to import food items from overseas. #suggests ways private sectors can contribute to the growth of agricultureEuropean countries are producing goods with the use of advanced machinery . But Asian and African countries are using human labour power for the production of various goods and services. These two statements discuss productivity and supply due to ____________. a. Taxation by the government b. State of Technology. c. Factors outside the economic sphere. d. Goals of the firmsQ5) a)Because of their relatively small national economies, which of the following is most likely considered to be the most important factor for Belgium, Korea, and Canada to take full advantage of specialization? Division of labor International trade Economies of scale b) In a market economy, ___ own(s) the means of production. individuals everyone the government or ruling class c) Which of the following is required for specialization to work? (Choose the best answer) Technology Education Trade choose correct option, solve all three subparts early
- Explain characteristic of following economic system: Command economic systemQuestion 1 Which of the following is NOT a result of specialization? Multiple Choice Increased productivity Innovation Higher transaction costs Increased tradeAgriculture Group of answer choices wasn't important for the advancement of society developed by controling natural resources and having a surplus of food didn't impact population growth none of the above
- Private property opportunity of decision and the evaluating instrument are a few highlights that are exceptional to free enterprise. These qualities alone be that as it may don t precisely portray present day economies. Recognize three fundamental highlights of current economies that are not curious to free enterprise.Market economies are primarily characterized by ________. A) restricted consumer powers. B) heavy government spending and high. C) taxation to pay for a range of social services D) formal cooperation among government, companies, and workers to achieve stable growth. E) minimal governmental participationWhat does this mean? “Capitalism is the supreme expression of human creativity and freedom, an economy of mind overcoming the constraints of material power. It is dynamic, a force that pushes human enterprise down spirals of declining costs and greater abundance. The cost of capturing technology is mastery of the underlying science. The means of production of entrepreneurs are not land, labor, or capital but minds and hearts.”
- Global Media is a ________ type of globalization? Environmental Political Economic Social It is he sending of goods to another country for profit Barter Export Trade Import Bringing goods in another country for profit refers to: Import Trade Export Barter Which among the following are the negative effects of globalization? Workers are exploited Pollution and Deforestation Low wages in less developed regions All of the aboveWhich of the following describe South-East Asian economic centre? Prevailing entrepreneurial capitalism. Coordinated market economies. Coordination by non-market mechanisms. Short-term economic efficiency paradigm.What is meant by production and consumption being pro-trade, antitrade, or neutral? What are the terms of trade effect and wealth effect of growth? explain in detail