What is Economic community?

Q: An economic system where the key economic problems are solved through centralized planning O a…

A: In any economy, key economic problems are either solved through market forces, that is by…

Q: what is creative destruction? How does it contribute to economic development and industrial churning…

A: Capitalism is considered propelled by creative destruction or long-held traditions to make way for…

Q: What did Adam Smith predict would happen if economic individualism were allowed to operate in a…

A: Adam smith predicted that if individualism was allowed to operate in a country,democratic governance…

Q: How has technology flattened the world in terms of providing economic opportunity?

A: Technology has flattened the world.It has increased economic opportunities around the…

Q: An economic systems mechanism which deals with production

A: An economic system is a method by which societies or governments organise and distribute available…

Q: What are economic communities?

A: Answer: Economic communities are formed to promote international trade and economic cooperation…

Q: What are the characteristics of a traditional economy?

A: A traditional economy may be a system that relies on customs, history, and time-honored beliefs.…

Q: Explain why people would prefer to live in a socialist or a capitalist country?

A: Under capitalism, means of production are owned by private individuals, and decisions about…

Q: How are cities related to farming and the Industrial Revolution?

A: Cities got developed during the Industrial Revolution(IR) as laborers left their farms to cluster in…

Q: will happen to the country or world if there is no economic system?

A: Everyone would be totally self-sufficient, sitting around their very own fires, Preparing no matter…

Q: what is micro economy?

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: What does it mean if a country has a traditional economic system?

A: If a country has a traditional economic system then it means the economy of a country relies upon…

Q: Why is Entrepreneurship is very important in our economy?

A: Entrepreneurship refers to the building or setting up and establishing a new business with all the…

Q: What are the different types of Economic Systems?

A: An economic system is a method by which social orders or governments coordinate and disperse…

Q: How does entrepreneurship contribute to a country's economy and society

A: The role of entrepreneurship is very important for every country.

Q: What are the important forms of production?

A: The concept depicts the way in which businesses tend to take inputs and then convert them into…

Q: why do individual producers or nations have to choose the type, quality, and quantity of what they…

A: The resources of production are limited in amount so the individual, producers or nations have to…

Q: What are the cultures of capitalism?

A: The collection of behavioral traits, cultural standards, ideals, and patterns of behaviour that are…

Q: educational institutions help further in the preservation of our history and culture?

A: Culture: The qualities and knowledge of a particular group of people comprising language, religion,…

Q: The United States as well as most of the world’s economic systems fall in to which category?

A: There are mainly three type of economic system prevail in the real world. They are A, Socialist…

Q: what is cultural and social relation in contemporary world

A: The field of social/cultural studies examines how society and culture influence daily living. The…

Q: Prices and wages help coordinate economic activities. Why?

A: Economic activity is the process by which people purchase or sell goods and services to meet their…

Q: how is technopreneurship different from Entrepreneurship?

A: Entrepreneurship refers to the act of being an entrepreneur, who is the owner and manager of a…

Q: What is "peace and cooperation"

A: Peace and cooperation play an important role in developing relations with nations.

Q: Is the United States a capitalist society?

A: A capitalist economic system is one characterised by free markets and the absence of government…

Q: How does the capitalism economy give to the communities?   How does the capitalism economy take away…

A: Capitalism refers to the market form where people are allowed ti make economic activities according…

Q: What value does entrepreneurship provide for our economic well-being?

A: The concept that depicts the development and management of business ventures for gaining profit…

Q: What is the best economic system?

A: Capitalism is an economic system in which the production and distribution are privately owned, the…

Q: What is meant by varieties of capitalism?

A: In general, capitalism refers to the ideology that beleives in free-market system with providing…

Q: what are the socialism and communism systems?

A: Socialism and communism are economic systems.

Q: How to identify the economic market structure?

A: Market structure is known as the basis through which different industries in an economy are…

Q: What are the best institutions for achieving economic goals?

A: An institution is a social structure in which people tend to cooperate and also influencing the…

Q: which parties that can sign the certificate of origin to attest to the origin of the goods?

A: A Certificate of Origin is a document commonly used in international commercial transactions that…

Q: What is the Opportunity cost of farming ?

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: How are the natural and technological environments linked?

A: Natural environment includes all the living and non-living things that are occurring naturally.…

Q: what are differences between 4 economic systems?

A: An economic system is a way for governments or communities to distribute and organise resources,…