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dichotomous variables
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∙ 11y ago
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What does it mean for economic variables to positively related?
if two variables are positively related,it means that the two variables change in the same direction.that is,if the value of one of the variables increases,the value of the other variable too will increase.for example,if employment as an economic variable increases in a country,and price of goods too increases then we can say that these two variables(employment and price) are positively related
Which economic indicator is measured by comparing the amount of goods or services produced with the amount of input that was used in production?
productivity
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
What is a country's system of producing distributing and consuming goods and services called?
Economy or "economic system"
What is the difference between economic and free goods?
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
An economic system in which colonies supply goods to the mother country is called .?
The economic system is called mercantilism.
The economic system where colonies supply goods to the mother country is called .?
The economic system is called mercantilism.
What does it mean for economic variables to positively related?
if two variables are positively related,it means that the two variables change in the same direction.that is,if the value of one of the variables increases,the value of the other variable too will increase.for example,if employment as an economic variable increases in a country,and price of goods too increases then we can say that these two variables(employment and price) are positively related
Which economic indicator is measured by comparing the amount of goods or services produced with the amount of input that was used in production?
productivity
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
Anu ang kahulugan ng economic goods?
anu ang economic goods
What is a country's system of producing distributing and consuming goods and services called?
Economy or "economic system"
What is the difference between economic and free goods?
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
What the classification of goods?
goods maybe classified as free goods and economic goods. Free goods refer to those that could be obtained in unlimited quantities without cost. There are very few goods that may be called free. Included under these are sunshine,air and water,but even these goods are freely only in certain places. Water is free in the countryside,but it has to be paid for in the cities and big towns. The same thing is true with the air. it is supposed to be free but the air that we get from the electric fan or air conditioner is not free.Most of the goods we need are scarce have to be paid for.. These are called economic goods.
What are people called who use goods or services?
Generally, consumers. Other people who participate in an economy are called economic agents.
Diffirenciate the economic goods to free goods?
Fresh air.
What is the consumer for the economic system?
Both buys goods for consumption and uses goods and services.
