dichotomous variables
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
productivity
One of the main economic variables that affects business cycles is consumer spending, as it directly influences demand for goods and services. Other significant variables include investment levels, government spending, and net exports. These factors interact in complex ways, contributing to the fluctuations in economic activity that characterize business cycles. Changes in these variables can lead to expansions or contractions in the economy.
Socialism.
Economy or "economic system"
The economic system is called mercantilism.
The economic system is called mercantilism.
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
productivity
One of the main economic variables that affects business cycles is consumer spending, as it directly influences demand for goods and services. Other significant variables include investment levels, government spending, and net exports. These factors interact in complex ways, contributing to the fluctuations in economic activity that characterize business cycles. Changes in these variables can lead to expansions or contractions in the economy.
Socialism.
Economy or "economic system"
anu ang economic goods
The most important tool for analyzing the production, distribution, and consumption of goods and services is economic models. Economic models are theoretical frameworks that economists use to analyze real-world economic phenomena. These models help economists understand the relationships between different economic variables and predict the outcomes of various economic policies and decisions. By using economic models, economists can make informed decisions about how to allocate resources efficiently and effectively in an economy.
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.
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.
Generally, consumers. Other people who participate in an economy are called economic agents.