EBK MACROECONOMICS FOR TODAY
9th Edition
ISBN: 8220101425966
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 19, Problem 1SQP
To determine
Example that explains how a nation’s culture affects its economic system.
Expert Solution & Answer
Explanation of Solution
People’s preferences are different according to where they live and those preferences may finally come to be part of their culture. For example, generally Americans prefer large cars and Europeans prefer small cars. Thus, these nations produce preferred type of cars. And role of women and minority people in the workplace is another example of how culture relates the economic system.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Which type of economic system do you support? Why?
Give an example of how a nation's culture affects its economic system.
Fill in the table with information about each economic system.
Chapter 19 Solutions
EBK MACROECONOMICS FOR TODAY
Ch. 19.3 - Prob. 1GECh. 19.3 - Prob. 2GECh. 19 - Prob. 1SQPCh. 19 - Prob. 2SQPCh. 19 - Prob. 3SQPCh. 19 - Prob. 4SQPCh. 19 - Prob. 5SQPCh. 19 - Prob. 6SQPCh. 19 - Prob. 7SQPCh. 19 - Prob. 8SQP
Ch. 19 - Prob. 1SQCh. 19 - Prob. 2SQCh. 19 - Prob. 3SQCh. 19 - Prob. 4SQCh. 19 - Prob. 5SQCh. 19 - Prob. 6SQCh. 19 - Prob. 7SQCh. 19 - Prob. 8SQCh. 19 - Prob. 9SQCh. 19 - Prob. 10SQCh. 19 - Prob. 11SQCh. 19 - Prob. 12SQCh. 19 - Prob. 13SQCh. 19 - Prob. 14SQCh. 19 - Prob. 15SQCh. 19 - Prob. 16SQCh. 19 - Prob. 17SQCh. 19 - Prob. 18SQCh. 19 - Prob. 19SQCh. 19 - Prob. 20SQ
Knowledge Booster
Similar questions
- What information would one use to determine the type of economic system that a country has?arrow_forwardI need help with this comparison between different types of economic systems. The country of my citizenship is the United Arab Emirates.arrow_forwardPrices and wages help coordinate economic activities. Why?arrow_forward
- List AND EXPLAIN three types of economic systems. Based on the information provided and your experience, Identify the economic system that is practiced in the United States.arrow_forwardWhat are the different types of Economic Systems?arrow_forwardSocialism Vs. Capitalism, which economic system do you prefer and why? Give real life examples.arrow_forward
- Explain why people would prefer to live in a socialist or a capitalist country?arrow_forwardSelect the statement that accurately describes traditional economies. Traditional economies determine what goods are produced through customs, traditions, and beliefs. Traditional economies are based strictly on agriculture. In a traditional economy, the government controls what goods and services are produced. There are no longer any societies that use a traditional economy.arrow_forwardI give you a country and you tell me which economic system they have. Your choices are command, socialist, or market. North Korea, Cuba- United States- Germany, France-arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Survey of Economics (MindTap Course List)EconomicsISBN:9781305260948Author:Irvin B. TuckerPublisher:Cengage Learning
- Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Survey of Economics (MindTap Course List)
Economics
ISBN:9781305260948
Author:Irvin B. Tucker
Publisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co