What are the four complementary social institutions required in economic coordination?Why are they necessary/important?

Q: different societies require different amounts of societal resources

A: Societal resources- The resources that are related to the society.

Q: 1. In some countries the government makes most of the decisions about what will be produced, how it…

A: Hello, thank you for the question. Since there are multiple questions posted under a single thread,…

Q: Using practical example from the field of economics, compare and contrast why scarcity and choice…

A: Answer- Need to find- Using practical example from the field of economics, compare and contrast why…

Q: One of the important concepts for understanding cities is “path dependency.” Which of the following…

A: Path dependency is one of the approaches to make economic decisions on the purchase or exchange…

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: Which of the following statement is correct? i. Microeconomic environment affects an entire economy…

A: Microeconomics is more concerned with individual markets, while macroeconomics is concerned with…

Q: 1.scarcity 2.choice 3.opportunity

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: What is the circular flow diagram, and what does it demonstrate?

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

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: Fill in the blanks using the number that correspond to the correct word or phrase in the word bank…

A: We know that in this world resource is limited, and economics is all about the study and allocation…

Q: fusing horizons of diverse perspectives and views, what are two-possible positive consequences?

A: The leadership of the entire system is rooted in diversity. The system-wide approach thrives by…

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: Discuss the difference between economic value and social value or the shared value creation…

A: Social value are often described as a measurement of the relative importance and it depends on the…

Q: Economists sometimes disagree; why? Group of answer choices A. by not computing the opportunity cost…

A: The correct option is C. Normative statements are those which are related to 'what ought to be'.…

Q: What must be done in order to produce a combination of 12,000 bagels and 400 shirts?

A: At point C, 12000 bagels can be produced but only 200 shirts can be produced.

Q: Question 2. Are microeconomics and macroeconomics interdependent?

A: Microeconomics studies the individual behaviour as a single unit where as macroeconomic studies the…

Q: What does ceteris paribus means?

A: Economics means the condition of a group regarding its material prosperity.

Q: As you look at your available resources, what is one SNHU resource/amenity that you can draw upon to…

A: Resources available at SNHU for reaching intentional goals: An academic advisor is assigned for…

Q: Which of the following is a question answered with normative economic reasoning? O If the college…

A: Positive economic statements:  A positive economic statement is based on empirical data and facts,…

Q: Assume you have a production possibilities frontier (PPF) bowed out from the origin with healthcare…

A: The Production Possibility Frontier is the locus point of all the different combinations of the two…

Q: Explain why the three (3) goals of macroeconomics are relevant

A: Macroeconomics is a discipline of economics that investigates the behavior of a whole economy, such…

Q: Is space the canvas on which economic geographical patterns are mapped out, or does it play a role…

A: Economic Geographic patterns are the aggregate result or resultant of the several economic laws,…

Q: summary, how has the study of the history of economic thought been helpful/not helpful for you? How…

A: How study of History of Economic helpful The knowledge of History of Economic Thought plainly shows…

Q: Supply and Demand Graph $6.00 Price (per slice) 1 $5.00 $4.00 $3.00 $2.00 $1.00 Demand 100 0 50 150…

A: goods and services prices is determined by the market forces which includes demand and supply .…

Q: he world in which we live is complex and to understand it, human beings make use of some or other…

A: In economics, theory is presented in a simple form by making the c) Ceteris paribus assumption

Q: Social fluidity is all about transformation that results from social actions and reactions in…

A: Concept Members from various classes have varied possibilities of landing in one destination class…

Q: Which major characteristic of economists enable them to make sound decisions in solving economic…

A: Decision-making is a multi-step process (from issue recognizable proof through the answer) for…

Q: Microeconomics is best described as the study of a. economy-wide phenomena. b. how households and…

A: Economics comes from the Greek word which means management of households. In economics, we study the…

Q: The term "creative destruction" means: Group of answer choices   We should not have moved into…

A: Economics as a subject deals with the effective allocation of a limited amount of resources on…

Q: Microsoft looked to restructure in part as a response to external pressure from increasing…

A: Basics:- Open System Approach:- In this way, an organization is influenced by its environment…

Q: Tim Geithner, a former V. S. Treasury Secretary, has said, "The recession that began in late 2007…

A: Coming up next are the vitally economic interaction standards:-1) One consumer's expenditures are…

Q: Discuss purpose and importance of studying economics. Also discuss the scope of microeconomics and…

A: Factors of production or economic resources are the major building blocks of production in an…

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: Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products…

A: A market is a place where the buyers and the sellers meet and interact with each other through…

Q: How are the WHAT, HOW, FOR WHOM questions answered in a command economy? How are the WHAT, HOW, FOR…

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

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

A: Polanyi believes in historical economics.

Q: Name one economic interaction that isn’t covered by the simplified circular-flow diagram.

A: Simplified circular flow diagram: A circular flow model or circular flow diagram is a graphical…

Q: Below is the microeconomics statement condition. Identity the type of economic system…

A: An Economic system is a network of organisations used by a society to resolve the basic problems of…

Q: What are the three problem goals of Benefit-cost analysis?

A: The Benefit-cost analysis plays a crucial in determining whether a project is to be implemented or…

Q: Tim Geithner, a former U. S. Treasury Secretary, has said, "The recession that began in late 2007…

A: The following are the main economic interaction principles:-1) One consumer's expenditures are…