Economics For Today
9th Edition
ISBN: 9781305507074
Author: Tucker, Irvin B.
Publisher: Cengage Learning,
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Question
Chapter 29, 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.
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Give an example of how a nation's culture affects its economic system.
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Chapter 29 Solutions
Economics For Today
Ch. 29.3 - Prob. 1GECh. 29.3 - Prob. 2GECh. 29 - Prob. 1SQPCh. 29 - Prob. 2SQPCh. 29 - Prob. 3SQPCh. 29 - Prob. 4SQPCh. 29 - Prob. 5SQPCh. 29 - Prob. 6SQPCh. 29 - Prob. 7SQPCh. 29 - Prob. 8SQP
Ch. 29 - Prob. 1SQCh. 29 - Prob. 2SQCh. 29 - Prob. 3SQCh. 29 - Prob. 4SQCh. 29 - Prob. 5SQCh. 29 - Prob. 6SQCh. 29 - Prob. 7SQCh. 29 - Prob. 8SQCh. 29 - Prob. 9SQCh. 29 - Prob. 10SQCh. 29 - Prob. 11SQCh. 29 - Prob. 12SQCh. 29 - Prob. 13SQCh. 29 - Prob. 14SQCh. 29 - Prob. 15SQCh. 29 - Prob. 16SQCh. 29 - Prob. 17SQCh. 29 - Prob. 18SQCh. 29 - Prob. 19SQCh. 29 - Prob. 20SQ
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- 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_forwardName four things about our current economic system that would like to change, and briefly explain why.arrow_forwardWays in which China has a socialist market economy?arrow_forward
- Which economic system works best for societies?arrow_forwardThe United States as well as most of the world’s economic systems fall in to which category?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_forward
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