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Are types of economy and economic systems the same thing. To what extent do economic systems differ. Why have different ways to produce and allocate goods and services developed?
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What are the different economic and non economic costs of unemployment?
Economic costs is the decrease in goods and services that occurs as result of unemployment but non-economic cost is the increase in goods and services that occur as result of unemployment.
How consumer allocate their incomes across goods?
Describe and explain how a rational consumer with a fiven income and taste can allocate his income among the available goods and services
What is the effects of savings and investment in circular flow of the economic activity?
The households like to allocate a part of their incomes for future uses. As a result the firms has to dispose all their goods and services that remain unsold. creating a disequilibrium to the flow of the economy.
What is a rationing devices?
it is when the price mechanism allocate products or services to people who willing to pay the most.
Definition of economic growth?
it refers to an increase in a country's real output of goods and services. it explains quantitative changes in economy.it is mainly related to developed countries.
What are the 2 basic natural resources that economic systems allocate?
Money, goods & services
What are the different economic and non economic costs of unemployment?
Economic costs is the decrease in goods and services that occurs as result of unemployment but non-economic cost is the increase in goods and services that occur as result of unemployment.
How consumer allocate their incomes across goods?
Describe and explain how a rational consumer with a fiven income and taste can allocate his income among the available goods and services
What is the effects of savings and investment in circular flow of the economic activity?
The households like to allocate a part of their incomes for future uses. As a result the firms has to dispose all their goods and services that remain unsold. creating a disequilibrium to the flow of the economy.
What is a rationing devices?
it is when the price mechanism allocate products or services to people who willing to pay the most.
Definition of economic growth?
it refers to an increase in a country's real output of goods and services. it explains quantitative changes in economy.it is mainly related to developed countries.
Has anyone developed web services using java?
of course, there are services developed using java technology
What type of economic system was developed by Marx?
Marx developed the concept of a communist economic system where the means of production are owned collectively by the workers rather than by private individuals or corporations. In this system, there would be no private property and goods and services would be distributed based on need rather than profit.
What field of anthropology studies how goods and services are produces and distributed in a society?
Economic anthropology studies how goods and services are produced, distributed, and consumed in a society. It focuses on understanding the economic systems, exchange mechanisms, and production methods of different cultures around the world.
What is the economic term for the money that is received from the sale of goods and services?
Revenue is the economic term for the money that is received from the sale of goods and services.
Which type of economic activity is located wherever people need services?
Which type of economic activity is located wherever people need services
What is a diverse economy?
A diverse economy contains a variety of sources of revenue.
