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An economy that produces just enough goods for itself is called?
Wiki User
∙ 14y ago
subsistence economy-novanet answer!
Wiki User
∙ 14y ago
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Why might a country import goods they can produce themselves?
because the other country cant make everything to support its people and because its more harder,expensive or impossible to make in their country. Countries imports goods and services if they do not have them yet are need of them. For example, a country that does not produce oil may have to import from one that produces in order to keep the economy working.
What may enable an economy to consume a combination of goods outside its production possibility frontier?
An economy(country) can consume outside of its PPF if its starts to trade with another country that also produces all goods. Since these countries may have different comparative advantages in production, they will focus on producing more of one good and export the excess, i.e that which is not consumed or wanted in the own country. The terms of trade will then determine how much of the other good the country can import for the price of the exported good but you will then end up in a situation where you consume more goods than an economy can produce itself.
What is likely to be the best approach to a recession that is expected to turn into an expansion in a short time?
do nothing and let the economy fix itself
What are the pharmaceutical industry's dominant economic features?
It depends on what type of buisness you are in or planning to do, and how your buisness will profit itself in the economy we are in right now.
How does money flow through the US Economy?
People give money to businesses then the businesses give that money to other people and it repeats itself.
An economy that makes only enough goods for itself?
subsistence economy
What is a living thing that produces another living thing like itself called?
A living thing that produces another living thing like itself is called a parent.
What is a number called that produces another number when multiplied by itself?
squared is the name of that answer
What provides energy for cells with out using oxygen?
The Cell still produces ATP to energize itself, but it only produces enough ATP to re-do the process. I.E. the cell uses the two ATP molecules it produces anerobically to make two more
Why is 0 called an identiy number for addition?
Because zero plus anything produces an identity, that is, the original thing itself.
Can sodium produces electricity?
Sodium itself - no.
The process in which a single plant produces many offspring genetically identical to itself is called?
Vegetative reproduction is a type of asexual reproduction in plants
How does coal affect the economy?
of itself it doesn't;because the economy is affected by many things
Insulin produces what hormones?
Insulin itself is a hormone.
What number produces its square when multiplied by itself?
1
What makes hunting good for the economy?
Hunting makes the while ecosystem more durable and healthy. The meat is also a good source of income for many meat hunters. The weapon industry itself produces many jobs.
Did North Korea modeled itself after the former Soviet Union in developing its economy?
North Korea modeled itself after the former Soviet Union in developing its economy. The objective was to attain self-sufficiency in terms of economy.
