What is economy type does the United States have?

Q: What are economic systems, and how do they differ?

A: Answer: Economic system: it refers to the system by which resources, goods, and services are…

Q: what is economic activity?

A: Economic Activity is not related to something specific, it includes the process of production,…

Q: What is opportunity cost?

A: "In economics, cost refers to the value of money that is spent in order to produce a good." Costs…

Q: What are the four factors of production?

A: Factors of production: - factors of production are the resources used to produce goods and services.…

Q: What is the economic values?

A: (Q) What is the economic values?

Q: Why do business people study economics?

A: Demand for a good refers to the quantity of that good with the consumers are willing and able to…

Q: What are the 3 basic economic questions?

A: The three basic questions in economics is are based on the choices that societies should answer in…

Q: How does the economy work?

A: An economy is a complex web of interrelated generating and consumption activities that determine how…

Q: What comes to mind when you think about macroeconomics and microeconomics?

A: Macroeconomics is the study of economics at an aggregate level that is when we study the entire…

Q: Why study economics?

A: ExplanationEconomics is the study of markets where there exists  and interaction of buyers and…

Q: Name any two types of consumption goods with examples

A: Those goods which have the tendency to satisfy the wants of the consumer are said to be as Consumer…

Q: What are the 3 economic questions?

A: Economics refers to the study of household management which combines social and capitalist benefit…

Q: What is economic

A: Economic is divided into two major discipline that is microeconomics and macroeconomics. Here,…

Q: Why do we formulate policy?

A: A policy is a set of principles intended to direct decisions and produce objective outcomes. A…

Q: What are the three economic questions that every society must answer? Briefly explain the way in…

A: Answer: In order to fulfil the needs of every individual a society must answer the three following…

Q: Why does economy exist in the world?

A: Economics is the study of household management and the activities related to the business or firm in…

Q: What are disadvantages of free market economy ?

A: Free Market Economy is the one in which buyers and sellers act in self-interest. It is open for…

Q: On what are the Economic decisions based?

A: Economic decisions are the decisions made by the economic agents to pursue a goal and achieve a…

Q: what is micro economy?

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

Q: How can economic changes affect society?

A: Economic changes can affect the society in various ways: 1. The cost of living has the significant…

Q: kinds of economy?

A: 1. Haiti is a Market Economy in which the forces of demand and supply regulate the market.  2. China…

Q: What type of economy is best?

A: There are mainly four types of economic systems: Traditional economic system, command economic…

Q: What are economic issues?

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: What are the 3 basic questions of economics?

A: The economics as a study is based upon the idea that the economies around the world tend to have a…

Q: What goods and services—and how much of each—will be produced?

A: In a nutshell, an economy must distribute its resources and pick between several possible bundles of…

Q: What is the definition of economic

A: Microeconomics is the discipline of economics that studies how people and businesses react to…

Q: What’s economics?

A: Microeconomics is the study of specific economic units. An area of economics called macroeconomics…

Q: Explain the Economy and Society?

A: The word economics is derived from the Greek word Oinkonomia which means the management of…

Q: What drives a free market economy?

A: In a  free-market economy, market forces will run the economy, demand and supply are the market…

Q: Explain how construct economic model?

A: The field of economics studies how resources are allocated in a manner that most of the human needs…

Q: What mean economic

A: Microeconomics and macroeconomics are two commonly known branches of economics. Individual economic…

Q: Moral background of natural economics?

A: Economics studies the way a society chooses to use its limited resources, which have alternate uses,…

Q: What Is Economic Conditions?

A: Economic Conditions: It is the present condition or state of the economy of a country. This…

Q: Explain one difference between planned economy and market economy?

A: Simply we can say that economy is considered as an resources and wealth of a division of a country…

Q: What does it mean to think like an economist?

A: Economist think by considering relevant facts about an economy.Different factors such as…

Q: How many sectors of economy are there?

A: Economy: It is the system of organizing money, industry, and trade of a country or region.

Q: What are examples of society's widely accepted economic goals?

A: Economic goals: - Economic goals are the desired conditions of the people of a country which improve…

Q: What are examples of individual economic agents?

A: Economic agent is a person or an organization who acts as a decision maker that can influence…

Q: what is microeconomics?

A:

Q: What does it mean to be a philosopher

A: A philosopher is an individual who offers view on profound questions in ethics, logic, metaphysics…

Q: What is the opportunity cost of going to college?

A: Opportunity cost is the next best alternative foregone. Opportunity cost=sacrifice/gain.