What is the function of an economic system * to coordinate production and distribution of goods and services to make sure people are paid for their labor to make sure all people have equal access to goods Oto give all producers the same access to consumers 2144 SV. META
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- Based upon those notions of self-interest and public interest and the bringing of both into harmony, according to Adam Smith, how would a market economy accomplish that harmony about which he describes? What is government's place in that market economy?what are the three institution of government that protect individuals right in a market economy, explain their functionsIII. Write True on the space if the statement is correct. If it is false, explain why it is so. 9. Nonprofit organizations are considered part of civil society organizations that work together with the government in delivering social services to the people and communities10. The three types of economic systems are communism socialism, and free enterprise.
- how different economic systems and different social norms can create very different business and social incentives. Note that there are a lot of different things to consider here, but just as an example, just consider how an economic system characterized by respect for property would have a fundamentally different incentives for production and trade than one which automatically assumes that all resources are common property.Based upon those notions of self-interest and public interest and the bringing of both into harmony, according to Adam Smith, how would a market economy accomplish that harmony about which he describes? What is government's place in that market economy? What about incentives as opposed to free offerings? What about trade?1. It allows communication and information-sharing with large groups of people instantaneously A. Opportunity b. Political c. Power d. Social 2.it allows politician to communicate faster and reach citizen in a more targeted manner and vice verse, without the intermediate role of mass media. A. social b. economic c. political d. education 3.It's role is to provide information in a fast way and through it we get information about things in our economy. A. Economics b. Political c. Education d. Social
- Imagine a society that produces Capital goods and consumer goods. a. Draw a production possibilities frontier for capital and consumer goods. Explain why it most likely has a bowed-out shape. b. Show a point that is impossible for the economy to achieve. Show a point that is feasible but inefficient. c. Imagine that the society has two political parties, party A (who wants capital goods) and the party B (who want a consumer goods). Show a point on your production possibilities frontier that the part A might choose and a point the party B might choose. d. Imagine that our progressive neighboring country reduces the size of its consumer goods. As a result, both the Party A and B reduce their desired production of consumer goods by the same amount. Which party would get the bigger “technology dividend,” measured by the increase in capital production? Explain.In a market system, provide an example for when government can enhance or harm any of the processes involved in terms of what should be produced, how it should be produced, and for whom.Imagine a society that produces Capital goods and consumer goods. Draw a production possibilities frontier for capital and consumer goods. Explain why it most likely has a bowed-out shape. Show a point that is impossible for the economy to achieve. Show a point that is feasible but inefficient. Imagine that the society has two political parties, party A (who wants capital goods) and the party B (who want a consumer goods). Show a point on your production possibilities frontier that the part A might choose and a point the party B might choose. Imagine that our progressive neighboring country reduces the size of its consumer goods. As a result, both the Party A and B reduce their desired production of consumer goods by the same amount. Which party would get the bigger “technology dividend,” measured by the increase in capital production? Explain.
- Imagine a society that produces military goods and consumer goods, which we’ll call “guns” and “butter.” Draw a production possibilities frontier for guns and butter. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. Show a point that is impossible for the economy to achieve. Show a point that is feasible but inefficient. Imagine that the society has two political parties, called the Hawks (who want a strong military) and the Doves (who want A smaller military). Show a point on your production possibilities frontier that the Hawks might choose and a point the Doves might choose. Imagine that an aggressive neighboring country reduces the size of its military. As a result, both the Hawks and the Doves reduce their desired production of guns by the same amount. Which party would get the bigger “peace dividend,” measured by the increase in butter production? Explain.What do you think is/are the most effective and efficient economic system? Explain your answer applying it to the present economic condition.Most economies in the world are built in a way that both the government and the private sector make economic decisions together. What type of economy is being described here? a. Capitalist economy b. Socialist economy c. Mixed economy d. Communist economy