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Economics

Economics is the study of production, distribution and consumption of goods and services whether in a city, country or a single business. Questions about supply and demand and economic theory are welcome here.

500 Questions

How do you express in one word value for money?

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Worthy, commendable, valuable.

What are socio economics benefits from entrepreneurship?

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Entrepreneurship can lead to job creation, economic growth, and innovation in a society. It can also help reduce income inequality by providing opportunities for individuals to improve their socioeconomic status. Additionally, entrepreneurship can foster a culture of self-reliance and empowerment, contributing to overall social development.

What factors affected the population density in Western Europe around 1000 AD?

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Factors that affected population density in Western Europe around 1000 AD included agricultural advancements like the three-field system, which increased food production. Additionally, technological improvements in plows and mills helped increase efficiency. Political stability and urbanization also played a role in shaping population density during this time.

When is it best for government to play a role in the market?

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Governments should intervene in the market when there are market failures such as monopolies, externalities, or public goods provision. Additionally, government intervention is warranted during emergencies or crises to stabilize the economy. Ultimately, the goal is to create a balance that promotes competition, protects consumer rights, and ensures fair market practices.

What are the ways of reducing poverty to improve environmental quality and human being?

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Some ways to reduce poverty and improve environmental quality and human well-being include promoting sustainable development practices, investing in renewable energy sources to reduce pollution, implementing fair labor standards to ensure decent work conditions, and providing access to education and healthcare for all. Additionally, supporting small-scale farmers and local businesses can help reduce poverty and foster community resilience.

How does tourism impact the human geography in Dubai?

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Tourism in Dubai has led to population growth, cultural diversity, and changes in urban landscapes. It has shifted employment patterns towards the service sector and created demand for infrastructure development, impacting the city's socio-economic dynamics and spatial layout. Additionally, tourism has influenced cultural practices, lifestyles, and community interactions in Dubai.

Top 10 wealthiest countries in the world?

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By GDP:

1. US

2. China

3. Japan

4. Germany

5. France

6. United Kingdom

7. Brazil

8. Italy

9. Canada

10. India

By GDP per capita:

1. Luxembourg

2. Norway

3. Qatar

4. Switzerland

5. UAE

6. Denmark

7. Australia

8. Sweden

9. US

10. Netherlands

What is an injuction?

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An injunction is a legal order issued by a court that requires a person or entity to stop or refrain from doing a certain action, or to perform a specific action. It is often used to prevent harm, preserve rights, or maintain the status quo while a legal dispute is being resolved.

Top 50 poorest countries?

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Some of the poorest countries in the world based on GDP per capita include Burundi, South Sudan, Malawi, Mozambique, and Democratic Republic of the Congo. These countries face multiple challenges such as political instability, conflict, inadequate infrastructure, and limited access to education and healthcare. Foreign aid and development initiatives are crucial in helping these nations improve the well-being of their citizens.

What is socioeconomic factor?

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Socioeconomic factors refer to the social and economic conditions that influence an individual's life, including income level, education, occupation, and social status. These factors can impact various aspects of a person's life, such as access to resources, opportunities, and quality of life. Socioeconomic factors play a significant role in shaping one's outcomes and opportunities in society.

10 largest economy as of 2008?

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Off the top of my head I'd say: Developed trillion dollar-plus economies in the top 10: US, Japan, Germany, UK, France, Italy Developing economies in the top 10: China, India, Russia, Brazil Note that wealth in the developing top ten is poorly distributed, so many of the people in those countries get little or no benefit as yet from the wealth. Also, China and the UK (aka Britain: England, Wales, Scotland, N. Ireland) are almost the same, but the UK wealth is produced and enjoyed by 60 million people, whereas China is nearly a billion and a half! So the UK, France, Italy with about 60 million each, and Germany 92 and Japan at 120+ million, are actually incredibly wealthy for their size. The US is 300 million in population, and thus not the richest country in per capita wealth. The middle and professional working class of India and China are getting large, but given high population growth, and the fact that the hinterland and urban fringes have so much abject poverty that they will have to produce more and more wealth to spread out the largess. Those wealthy European countries are at near zero population growth, or actually shrinking. Thus they can focus on job transformation, and housing quality, and infrastructure maintenence, and not on building up.

Is Athens the richest country in the world?

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Athens is not a country, but the capital city of Greece. Greece is not the richest country in the world, as there are other countries with higher GDP per capita. However, Greece is a developed country with a diverse economy.

Most socialist systems can also be described as?

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Collectivist, where the means of production are owned or regulated by the community as a whole, rather than by individual businesses or the government.

What countries use the standard system?

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Countries that commonly use the standard system of measurement include the United States, Liberia, and Myanmar. These countries typically use units such as inches, feet, pounds, and Fahrenheit for measuring length, weight, and temperature, respectively.

What was the Stalled Revolution?

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The Stalled Revolution refers to the idea that progress towards gender equality has not advanced as expected despite gains in other areas of society. It suggests that while there have been improvements in women's rights, there are still significant barriers and challenges that prevent true gender equality from being realized.

What is the percent living below poverty in Ireland?

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As of 2020, the poverty rate in Ireland was estimated to be around 14%. This figure takes into account individuals living below the poverty line, which is defined as having an income that falls below a certain threshold relative to the average income in the country.

What is the nature and development of entrepreneurship?

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Entrepreneurship is the process of recognizing opportunities, taking risks, and creating value through innovative ideas or business ventures. It involves traits like creativity, leadership, and resilience. Entrepreneurship develops through experience, education, networking, and a willingness to learn from both successes and failures.

Is Syria a ledc or a medc?

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Syria is considered a less economically developed country (LEDC) due to factors such as political instability, conflict, and economic challenges that have hindered its development and quality of life for its population.

What percentage americans earning over 150000 per year?

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Approximately 9% of Americans earn over $150,000 per year.

Why do people migrate?

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People migrate for various reasons, including to seek better economic opportunities, escape from conflict or persecution, reunite with family members, or improve their quality of life. Migration can also be driven by environmental factors such as natural disasters or climate change.

What does it mean to redistribute the wealth?

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Redistributing wealth involves transferring money or resources from those with more to those with less, aiming to reduce economic inequality. This can be done through policies like progressive taxation, social welfare programs, and wealth inheritance taxes. The goal is to create a more equal distribution of wealth in society.

Economic structure of Indian economy?

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The Indian economy is a mixed economy, with elements of both capitalism and socialism. It is primarily based on services, industry, and agriculture sectors. Key industries include information technology, pharmaceuticals, textiles, and automotive. The government plays a significant role in regulating key sectors and promoting inclusive growth through various social welfare programs.

What is agenda 21 name five items Agenda 21 must deal with?

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Agenda 21 must deal with issues related to sustainable development, poverty reduction, environmental degradation, population growth, and resource management.

What factors influence changes in consumer behavior?

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CONSUMER BEHAVIOR AND FACTOR AFFECTING

Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants:

  • Initially the consumer tries to find what commodities he would like to consume.
  • Then he selects only those commodities that promise greater utility.
  • Then consumer makes an estimate of the available money which he can spend.
  • Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume.

Meanwhile, there are various other factors influencing the purchases of consumer such as:

  • Social
  • Cultural
  • Personal
  • Psychological

How would any of the perspectives in sociology rational choice theory Marx perspective Durkheim's perspective help explain some contemporary issue such as poverty or unemployment?

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  • Rational choice theory might argue that individuals in poverty make rational decisions based on the costs and benefits.
  • Marx's perspective could attribute poverty and unemployment to the exploitation of the working class by the capitalist system.
  • Durkheim's perspective could focus on the breakdown of social structures and institutions leading to societal issues like poverty and unemployment.