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What else can I help you with?
How does a market economy effect other economies?
it will boost other economies.
What describes the part of the US' role in the global economy?
The US is interconnected with other parts of the world. Therefore, when our economy is doing poorly it reflects on the economies of other countries as well.
Economists make comparisons between the US type of economy and other economies around the world?
true
Does a mixed economy have a high standard of living?
Generally mixed economies generate more wealth than other kinds of economies leading to a higher standard of living
In what circumstances is an economy said to have a comparative advantage in producing a particular good?
An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.
How did the economies of Athens and Sparta differ from one another?
While Athenian economy had depended on trade, Sparta's economy had relied upon farming and on conquering other people.
Why are diamond good for the economy?
People who work in any of the diamond trades earn salaries, have jobs and contribute to their local economies. Diamonds, like any other commodity, are good for economies where they are involved.
What is an economic race to the finish?
In an economic race to the finish, the general thinking could be that competition continues until one economy crashes and is completely destroyed. But the most probable idea is that in an economic race to the finish, the "finish" is a point where one economy completely dominates the other one or other ones. If one economy dominates all others to the point of destruction, the "winning" economy will lose customers because those other economies will not be able to buy the goods and services of the "winner" of the competition. Destroying economies only makes sense from a political or military point of view. Weakening an economy to the point it collapses opens the door for some kind of major shift in (or the subversion of) its governance, or for a military takeover.
Why Europe all though small its effect to countries economy?
Europe is one of the most technologically advanced/industrialized areas in the world, and was the first in fact. It has some of the highest economies on Earth and is a major player in the world economy, so you can see how it would effect other countries' economies.
Why are there so few traditional economies in the world today?
Traditional economies lead to less economic prosperity than capitalist and planned economies because of the efficiency of industrial production. As a result, people are voting with their feet and wallets to leave traditional economies and embrace capitalism or some other form of industrial economy.
What do you mean by an economy?
An economy (or the economy) is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems.
Does a planned economy provide equality of wealth?
That would depend completely on the kind of economy being planned. Some plans/ideas for economies, such as those of the Venus Project, do emphasise equality of wealth. Other planned economies, as seen with many communist systems historically, do not provide equality of wealth.
