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A key principle of the economic theory of communism is?
government ownership of property
Economic buyer theory assumes what?
Get the most for your money, get the cheapest there is,quantity is key.
The term survival of the fittest which Is a principle part of the concept of social Darwinism was coined by?
The term "survival of the fittest," which is a key principle in the concept of social Darwinism, was coined by British philosopher and scientist Herbert Spencer. He used this term to extend Darwin's theory of natural selection to social and economic contexts, suggesting that those who are the most adaptable and competitive will thrive in society.
Describe the key principles of socialist and communist economic systems?
Socialism and Communism are the same: a classless stateless society based on production for use, with no classes or rulers or money or borders. Just people working together for the common good. And no economic system.
What are the key elements of Comparative Advantage?
Comparative Advantage is the idea that one person/business/or area can offer a product at a better price than another. The key elements would be the social and economic impact of this theory.
What are three key economic questions?
The three key economic questions are: What to produce? How to produce it? Who will consume it?
What is a theoretical principle?
A theoretical principle is a fundamental concept or idea that guides the development of a theory or a framework in a particular field of study. It forms the basis for understanding and explaining phenomena, serving as a key foundation for further research and exploration.
What is Mercatalism?
An economic theory/philosophy in which the economic success of a sovereign nation depends upon the increase of its capital (total goods owned). Key Points of Mercantilism * More exports than imports * Protectionism * High tariffs (trade taxes)
A nations plan for answering the key economic problems is called its economic?
Economic System
What is The Principle of Self Interested Behavior?
The Principle of Self-Interested Behavior posits that individuals act in a way that they believe will maximize their own well-being or utility. It is a key concept in economics and rational choice theory, assuming that people make decisions based on their own self-interest. This principle helps explain why individuals make certain choices in various situations.
What is system of government gives all key powers to the national government?
Communism
What are the most common questions asked about commuism?
Some common questions asked about communism include: How does communism differ from capitalism? What is the role of the government in a communist system? How does communism address issues of inequality and social class? What are the main criticisms of communism as a political and economic system?
