describe.2.countries or societies with 2 different types of economics and compare how the type of economy affects the answers to the question of what,how and for whom to produce in each country
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- What does a normative statement describe? A. how the world will be in the future B. how the world ought to be C. how the world is D. how the world was in the pastExamine the central problems of an economy given below and select the one that cannot be represented in a production possibility curve. a. What to produce? b. How to distribute? c. Full utilization of resources d. How much to produce?What is global economy? What are its 4 characteristics?
- What goods and services—and how much of each—will be produced?The economic environment refers to: Select one: a. an analysis of how new environmental regulations will affect our economy b. the economic outlook of the world provided by the World Bank c. an analysis of how the environmental movement and world economy interact d. the nature and direction of the economy in which a firm competes or may compete1. Which of the following is not a normative statement?a. The military budget should increase at the same rate as GDP.b. The government should play a limited economic role, ensuring that private contracts are enforced.c. Integrated schooling has increased the level of literacy among minority groups.d. A tax on imported oil should be used to reduce the government deficit.
- If we could produce all the food we need in our own backyards, and if technology were so advanced that we could all make anything we wanted in our basements, would an "economic problem" exist? a. Yes because growth of population b. Yes because people developed new wants c.. Yes because of unpredictable natures tragedy, d.. No technology will solve the problem. Choose your best choice and explain it.1. The three major actors in terms of economic activity are A. governments, businesses, and producers. B. households, individuals, and the stock market. C. households, businesses, and government. D. leaders, people, and firms.What do we mean when we say individuals are both products and producers of society.
- power company decides to use wind turbines to produce energy instead of oil. Which basic economic question does this decision answer in a free market economy? A. C E What goods or services will be produced? Who will consume the goods or services? What economic system should be adopted? B D Who gets to decide? How will goods or services be produced? mit nevoWhy we study economics1. What metrics can help analyze the economic environment of a country?