Q: Is Income determined by the Scarcity of Your Contribution, and Not the Value of Human Worth?
A: ANSWER Scarcity refer to the basic economic problem- the gap between limited resources and limitless…
Q: What correlation lies between productivity and the standard of living?
A: The amount of goods and services produced by the average worker in an hour of work is referred to as…
Q: Draw a Microeconomic Theory of Fertility and then describe the diagram starting from the…
A: The creation of a microeconomic model of fertility required a more detailed specification of a…
Q: Government attempts to reduce income inequality; ensure minimum health, education, and living…
A: Government plays an important role in various aspects of the economic stability. It ensure the…
Q: What comprises middle-income economies
A: For operational and analytical purposes, world bank classifies the economies in three groups: low…
Q: why it is less likely to people to migrate from urban to rural?
A: Migration is an economic process where people move from a city/place to another in search of better…
Q: Which action taken by a worker would not be an investment in human capita
A: Investing in human capital will increase workers productivity. It can be done through worker…
Q: How can we reduce the number of low-income workers and increase the number of middle-and…
A: There are many factors like education, training, health services, etc. that can decrease the number…
Q: Mixed economic system is also called
A: Mixed economic system consist of both capitalism and socialism.
Q: Does Income Inequality Impair the American Dream?
A: Income inequality: It means uneven distribution of income throughout the population.
Q: Part C. Study the circle graph and table below to get answers to the questions that follow. Noroor…
A: The above Pie chart shows us the data of poverty in America in the decade of 1970s. From the given…
Q: Studies indicate that married men on average earn more income than unmarried men of the same age and…
A: Correlation/interrelationship does not surely bring causation/causality. Marriage & income…
Q: Which of the following concepts best describe ‘social capital’? (a) Skills and qualifications.…
A: 'Social capital' refers to shared values, ideas, information and opportunities, along with trust in…
Q: 100 Line of equality A B Percentage of population 100 Percentage of income
A: Lorenz Curve It tells us about the income distribution level among the people. There is one 450…
Q: If you had to use one word to answer the question why some countries and rich while others are poor,…
A: There is international inequality in distribution of income and wealth. Some countries are rich…
Q: Below shows the schematic diagram of the circular flow of income. The functioning of the free-market…
A: The economics as a study takes into account the scarcely available resources, as the resources in…
Q: Definition of micro
A: In economics we study the decision of societies in the condition of scarcity, people has to choose…
Q: What stage is Turkey in the demographic transition model? (Draw and explain by using 5 stages of…
A: The demographic transition model allows the country to identify what stage of growth the country is…
Q: A consultant works for $200 per hour. She likes to eat vegetables, but is not very good at growing…
A: Specialization in doing some work: In economics labor will grow commodities in which they have…
Q: What are the types of natural resources and makeup the differences between them?
A: (Since you have posted multiple questions, we will answer the first one for you. If you want a…
Q: How does division of labor improve standard of living?
A: ‘standard of living’ is the quality of life that a person is living. it depends on many factors,…
Q: What is the relationship between class, different types of capital, and mobility??
A: The movement of people or groups in social positions over time is referred to as social mobility.…
Q: The Economist article on human capital says that human capital theory tries to answer which of the…
A: The human capital theory places that human creatures can expand their useful limit through more…
Q: In what ways does franchising contribute to an overall economy?
A: Franchising is a process of marketing and distributing products where the owner of the business that…
Q: Explain why Karl Marx said that even if the wage increases, it will still go back to its subsistence…
A: Subsistence wages are the wages that enable a worker to fulfill his or her basic needs. Subsistence…
Q: What are the factors of standard of living?
A: The necessities, luxuries, and comfort which an individual desires to have to enjoy represent the…
Q: . Explain the following terms: i. Fertility ii. Dependency ratio iii. The…
A: 3)i) Fertility is the ability to produce children. Fertility rate is an important concept that helps…
Q: What is socio economic
A: Socio-economics is that study of society which considers the effects of economic activities and it…
Q: Most of the jobs that were added to the American economy over the past thirty years were in which of…
A: The phrase "blue collar" was coined because people who performed physical labour in the past wore…
Q: Is entrepreneur and entrepreneurship the same?
A: Entrepreneurs play an important role in economic development as a catalyst in the process of…
Q: When the earned income of poor people increases to be equal to disposable income the transfer from…
A: The amount of money that a person or household has available for spending or saving after income…
Q: General Electric paid its workers $5 a day in 1914. If the consumer price index was 10 in 1914 and…
A: The fluctuation in price index costs of one particular period compared to its previous period is…
Q: Which action by the Australian government would make its economy less mixed economy and more like a…
A: The market economy would be the point when the market as an allocative mechanism would result in the…
Q: What is human capital? Is education important in increasing the quality of human capital or not?
A: Human Capital The economic benefit of a laborer's experience and talents is referred to as human…
Q: How do you see the trade-off between the economy and theenvironment? Which is more important? Is it…
A: A situational decision involving diminishing or losing of one quantity, quality, or property of a…
Q: What is the individual’s human wealth? Total wealth?
A: Wealth: It is the estimation of the relative multitude of assets that are controlled by an…
Q: Why does the U.S. fall at the bottom of family leave entitlements in developed countries ?What would…
A: In "new economy" non-standard schedule works are very common. Over the past decade, the amount of…
Q: What are the three economic sectors? Provide explanations and examples for each. How does the United…
A: Economics as a subject deals with the allocation, production and optimization of scarce resources…
Q: Explain how households and firms interact in the factor market and in the product market
A: Market: It is an arrangement between buyers and sellers for exchanging goods and services for money.…
Q: How is a traditional economy similar to and different from a mixed economy?
A: An economic system is that system where governments or societies arrange and allocate available…
Q: Explain how a mixed economy differs from both a planned and a free market enterprise economy and…
A: Planned economy is that economy which is controlled by the government or any legal authorities on…
Q: What is the relationship between the rising cost of living and low-income communities’ standard of…
A: The cost of living is the average amount of money that people in a certain location require in order…
Q: Explain your understanding of a Mixed Economy. Give some examples to support your view
A: An economic system is a way for governments or communities to distribute and organise resources,…
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- What are the characteristics of the mixed economy in an economy????People who often create benefits for the minority and impose the cost on the majot"ity are called a.fair-interest groups. b.encounter groups. c.laissez-fail'e groups. d.special-interest groups.Carefully explain the economic role of the government in a mixed economy.
- Explain the characteristics of mixed economy???What government suppose to do to eradicate poverty in order to reduce the cost of living?Match the scenario/description provided to the the type of poverty OR human development issue to which it best applies. absolute poverty - A. B. C. D. E. Human development issue - A. B. C. D. E. subjective poverty - A. B. C. D. E. relative poverty A. Mary won 1K in a scratch off. She has bunch of credit card debt. She knows she should use the 1000 for that, but she never gets to have special things so she bought herself a Louis Vuitton, and said to heck with bills. B. Mary set up a tent-like shack beside the river for her and her family to live because they didn’t have any housing. It was swept away unexpectedly with jer and her family inside when the river dam was opened by the authorities in the area. C. Mary is one of the one billion…
- Why does the U.S. fall at the bottom of family leave entitlements in developed countries ?What would it mean to create a “family friendly” economy in the U.S.? Provide one or two exampleGive 1 specific situation between the differences of the Social Economic StatusHow does inequality affect the developing countries? (Example The Philippines).
