Q: what is economic activity?
A: Economic Activity is not related to something specific, it includes the process of production,…
Q: Economic problem arise because
A: There are limited resources and unlimited wants of the people.
Q: List AND EXPLAIN three types of economic systems. Based on the information provided and your…
A: An economic system refers to a mechanism through which the resources are used, allocated and…
Q: Who owns and who controls the major factors of production?
A: An economy includes all production of goods and services, all selling and buying and all employment.…
Q: How are economic systems linked to types of societies?
A: Economic system: A monetary framework is a method by which social orders or governments arrange and…
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: d. A hurricane in California forces Disney Land and Hollywood to shut down for a month. e. One new…
A: GDP is the final value of goods and services produced in an economy during a given period of time at…
Q: Why we study economics
A: All the more extensively, an economics degree sets you up for vocations that require mathematical,…
Q: What do you see as the biggest difference between market and non-market economies?
A: Market economy is run by private people. There is private ownership of factors of production in…
Q: Define in your own words what is production and what are the factors that enhances the production in…
A: Introduction and definition if production is given below:
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: Compare and contrast the various types of economic systems
A: An Economic System is any process which includes mechanisms for the manufacture, delivery, and trade…
Q: What are the major economic systems?
A: An economic system is the combination of different government plans and allocation of the resources…
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: Economics..
A: The workforce or labour force is a concept referring to the pool of human beings either in…
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: 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: Economists believe everything is scarce EXCEPT a. technology b. wants c. time d. money e. knowledge
A: In Economics, the term ‘scarcity’ refers to the state of being limited and finite. The resources…
Q: Which economic system does a better job improving living conditions for the poor, capitalism or…
A: The system through which governments or society organizes and distributes the availability of…
Q: Write a 5 sentences essay about the socio-economic issues that the country (Philippine) is…
A: The challenges that socioeconomics addresses, as well as the elements that have a detrimental impact…
Q: Why is entrepreneurship considered a factor of production?
A: Factors of production refer to the inputs required to produce economic activities and can be…
Q: a. Identify a country that could be considered the most closed economy. b. Discuss THREE benefits…
A: Closed economy can be defined as the economy which do not participate in international exchange of…
Q: Compare the economic systems: Capitalism, Socialism and Mixed Economy. Also explain that in which of…
A: Capitalism, Socialism, and Mixed Economy. Answer: Capitalism refers to a free market system that is…
Q: Production Possibilities Frontier
A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…
Q: How are resources allocated in free market enterprise
A: Free market enterprise:- The free market, also known as free enterprise, is a market system in…
Q: 1. It is a kind of economic system that is paternal, kinship in nature. A. Traditional economic…
A: The economic system that is paternal, kinship in nature means the business is getting done by the…
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 a business problem? How can the business problem be solved?
A: A business refers to an act of exchanging goods and services for money. It is conducted by…
Q: Characteristics of free market economy
A: In every economy, the resources available for satisfying the wants and desires of the individual are…
Q: What are the 5 economic systems?
A: ‘Economic system’ is a means or tools by which society or government controls, distributes the…
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: Apply the mixed economy as an economic system in Bahrain economy using examples?
A: There are three type of economy one is market exonomy , command economy and mixed economy . Mixed…
Q: Economic system wnich the cen government makes all decisions on the production and consumption of…
A: Economic system in which the central government makes all necessary decisions on the consumption and…
Q: Describe three different kinds of economic systems.
A: Different kinds of economic systems include; 1. A command economy 2. A market economy 3. A…
Q: What is Economic community?
A: Economic community: When countries around the world are regional ones or in a certain cluster form…
Q: Compare different types of economic systems
A: An economic system is a way for governments or societies to coordinate and distribute capital,…
Q: what are differences between 4 economic systems?
A: An economic system is a way for governments or communities to distribute and organise resources,…
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