Q: How does the global economy affect organizations and processes?
A: By the global economy one can refer it as the process by which people, and one's culture, money,…
Q: Why the government should not be included in circular flow model and whether you think the…
A: circular flow model Lets understand this concept with an example:- In this circular flow model…
Q: Which intellectual had a profound impact on the works of Thorstein Veblen? a. John Locke b. John…
A: Thorstein Veblen is a socialist and economist who emerged the concept of conspicuous consumption and…
Q: how does distortions affect the market of tradable and non-tradable goods?
A: Market distortions: It refers to the intervention of the government that affects the price and…
Q: What are some deficiencies of the capitalist model?
A: Capitalism governs most of modern Western life. Private property, private ownership of the factors…
Q: What can government do to stimulate the economy?
A: To stimulate the economy, the government will implement expansionary fiscal policy.
Q: How do Adam Smith’s principles of the free market play out in our economy today?
A: Adam Smith is a well-known economists till now as he gave many economic theories and models to help…
Q: How does the economy work?
A: An economy is a complex web of interrelated generating and consumption activities that determine how…
Q: What roles do planning systems play?
A: The planning system is responsible for the administration, control, and regulation of development in…
Q: Imagine you are an economics professor in a world without money. Explain why it would be tricky to…
A: Money has important functions which are described as below: Money acts as a medium of exchange. The…
Q: Why do we formulate policy?
A: A policy is a set of principles intended to direct decisions and produce objective outcomes. A…
Q: Test- What is micro economics?
A: Economics is the study of how the society uses its limited resources. Thus, the economics is a…
Q: Do you see the rise of consumer power through evolving changes in technology? If so, how?
A: Technology is all that make things quicker, easier or cheaper. The rise in the technology leads to a…
Q: How can studying economics help you as a student?
A: Studying economics can help students by exposing them to theoretical approaches within the field of…
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: What is the main difference between free-market systems and planned systems?
A: A market is a gathering area where people can come together to exchange products and services.…
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 is micro economics?
A: Economics: The problem of scarcity induces to study the problem of choice at a social or national…
Q: Why is it important for business leaders to be aware of Micro economics?
A: MICRO ECONOMICS- micro economics implies the study of the aspect of economy at individual level.it…
Q: What are interest groups and which ones are most powerful?
A: What are interest groups and which ones are most powerful?
Q: Because the companies have a great deal of economic _______________ they can decide what products to…
A: Because the companies have a great deal of the ECONOMIC DEMAND they can usually decide what products…
Q: What is the closest example to a command economy?
A: The communist society refers to the command economy. In a command economy, there is a monopoly that…
Q: How the study of history of economics help people in their daily life
A: Economics is related to many aspects of the world. Various countries in the world are carrying out…
Q: How SWOT analysis affects the business organization
A: SWOT stands for strengths, weaknesses, opportunities and treats.
Q: Please describe briefly what is meant by Goldilocks economy?
A: Those economy which has low inflation rate and enjoy sustained economic growth is called Goldilocks…
Q: How is the problem of what and how much to produce resolved in the capitalist system?
A: A capitalist system is an economic system where private enterprises own and control the resources of…
Q: In the world of economics, this is a very powerful term that can make or break relationships,…
A: There are different factors that can contribute to making or breaking relationships, businesses,…
Q: Who invented capitalism?
A: Economies are classified into different forms based on the characteristics of their market. Some…
Q: Write a sentence or two defining the following terms in your own words. Give examples of each.…
A: Let us discuss these points along with the example:
Q: What is main reason for the formation of large cities?
A: What prompted the formation of cities in the first place? Although there is little evidence to say…
Q: How do you feel that business cycles and the health of the economy affect the value of your labor?
A: ANS Business cycles comprise of two phases namely a phase of expansion and a phase of contraction.…
Q: What are the features of the socialistic economy?
A: According to the given question In Simple words we can say that a socialist economy is that type 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: Capitalism was originally a smear used by which socialist founder? A. Adam SmithB. Jean-Jacques…
A: Capitalism: It refers to the economic system depending on private property and free venture. No…
Q: write down about the econmics systems.
A: Economy: It is a system that organizes money, industry, trade of a country or region.
Q: What are three ways that starting a new business helps the economy?
A: The concept of management and development of a business venture for gaining profit through taking…
Q: In your own words, Explain what is BJMP. Write in 200 words.
A: BJMP is known as Bureau of Jail Management and Penology which is a Department of the Interior and…
Q: What is the opportunity cost of borrowing?
A: Opportunity cost is the value of anything when a new course of action is selected. Simply put in…
Q: What do you think is/are the most effective and efficient economic system? Explain your answer…
A: The most effective and efficient economic system is mixed economic system. In this, there is a blend…
Q: my friend lives in an apartment building. The neighbour smokes, and my friend can smell it. It…
A: Externality is the negative or positive spillover by the consumer or producer which affects the…
Q: What are four ways that business can benefit society?
A: Business and society are indistinguishable and related. The best business pioneers realize this is…
Q: How big is a billion?
A: The money supply in an economy is controlled by the central bank. The central bank used various…
Q: Why is it important for business leaders to be aware Marco economics.
A: MACRO ECONOMICS- macro economics is concerned with the problem of economy at aggregate level,…
Q: what is econmy?
A: Economy basically defines the economic situation of any country.
Why do companies need to engage in the circular economy ?
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