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Normally an economy of a country is defined as either developed or developing. This classification is based on GDP per capita(mostly) and some other measures(such as HDI)
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What is economic diversity?
The degree to which an economy's mix ofindustries, sectors, skill levels and employment levels differ from a larger reference economy.
What is meant by aggregate demand and aggregate supply?
Aggregate simply means a collection of things. So aggregate demand is the total quantity of an economy's final good and services demanded at different price levels. Aggregate supply is the total quantity of final goods and services that firms in the economy want to sell at different price levels. These are used primarily in Macroeconomics to calculate how the economy is doing as a whole.
What is Economic equity in a pure free market ecocomy?
Economic equity is difficult to achieve in a free market economy because people have different types of skills and different levels of ambition. ... In a market economy, the amount of money people get depends on the match between supply and demand and the people's particular skills.
What is the consumer price index and what is it used for?
It measures whole price levels in the economy.
What type of economy does iceland have?
Iceland's economy is what is known as a mixed economy. The country engages in high levels of free trade, and features government intervention in certain aspects of the economy. In 2012, Iceland's GDP was $14.6 billion.
What is economic diversity?
The degree to which an economy's mix ofindustries, sectors, skill levels and employment levels differ from a larger reference economy.
What is meant by aggregate demand and aggregate supply?
Aggregate simply means a collection of things. So aggregate demand is the total quantity of an economy's final good and services demanded at different price levels. Aggregate supply is the total quantity of final goods and services that firms in the economy want to sell at different price levels. These are used primarily in Macroeconomics to calculate how the economy is doing as a whole.
Why different skin areas may have different ph levels?
Different parts of the skin tend to have different acidity levels which is why the ph levels change.
What is Economic equity in a pure free market ecocomy?
Economic equity is difficult to achieve in a free market economy because people have different types of skills and different levels of ambition. ... In a market economy, the amount of money people get depends on the match between supply and demand and the people's particular skills.
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
Are there different levels of government?
yes there is different levels of government for each state
Is the Italian economy a market economy or a command economy?
Italy's economy may have strong government regulation, but it is first and foremost a MARKET ECONOMY because firms choose their own levels of production, not the Italian government (which would be the case in a command economy).
How might weather vary and be the same at different sea levels?
by the different sea levels
What is the consumer price index and what is it used for?
It measures whole price levels in the economy.
What is the consumers price index and what is it used for?
It measures whole price levels in the economy.
What are the levels of erosion?
The levels of erosion can be all different.
What type of economy does iceland have?
Iceland's economy is what is known as a mixed economy. The country engages in high levels of free trade, and features government intervention in certain aspects of the economy. In 2012, Iceland's GDP was $14.6 billion.
