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Which type of economy is usally centered mainly on meeting people's basic needs?
An economy that is usually centered mainly on meeting people's basic needs is known as a subsistence economy. In a subsistence economy, production is primarily focused on providing for the necessities of life such as food, shelter, and clothing. This type of economy typically involves minimal trade or surplus production beyond what is required for immediate consumption. Subsistence economies are often found in rural or developing regions where resources are limited and the focus is on survival rather than profit.
In what way are entrepreneurs and businesses at the helm of the economy but commanded by consumers?
they serve an important purpose in the economy, the economy needs the entrepreneurs to sell various products, but the entrepreneur needs consumers to buy that particular product
What term best characterizes the American economic system?
process by which people choose how to use limited resources in order to meet their needs
What are the advantages of VAt?
make your economy grow faster....and to supply the needs of the people..also to increase the fund of economy
State Why would you recommend a mixed economy for a developing country?
I would recommend a mixed economy for a developing country because it combines the advantages of both market and planned economies, enabling flexibility and responsiveness to local needs. This approach encourages private entrepreneurship and investment while allowing for government intervention to address inequalities and provide essential services. A mixed economy can foster sustainable development by balancing economic growth with social welfare and environmental protection. Additionally, it can attract foreign investment while ensuring that the benefits of growth are distributed more equitably among the population.
Which type of economy is usally centered mainly on meeting people's basic needs?
An economy that is usually centered mainly on meeting people's basic needs is known as a subsistence economy. In a subsistence economy, production is primarily focused on providing for the necessities of life such as food, shelter, and clothing. This type of economy typically involves minimal trade or surplus production beyond what is required for immediate consumption. Subsistence economies are often found in rural or developing regions where resources are limited and the focus is on survival rather than profit.
In what way are entrepreneurs and businesses at the helm of the economy but commanded by consumers?
they serve an important purpose in the economy, the economy needs the entrepreneurs to sell various products, but the entrepreneur needs consumers to buy that particular product
Should the US government take a role to provide basic needs in developing countries?
Yes, United States Government international integrative development, develops basic needs in developing countries.
Why trade was important to the economy of the Northwest Coast?
When an economy needs something that they do not have, they trade for that item. Like in Native American times, they use something called a trading system to get something they need. In all, trading was important because it allowed different economies to receive what they do not have.
Why was trade important to the economy of the northwest coast?
When an economy needs something that they do not have, they trade for that item. Like in Native American times, they use something called a trading system to get something they need. In all, trading was important because it allowed different economies to receive what they do not have.
Has economy replaced humanity?
Economy can't replaces humanity because the foundation that we need a good economy is to improve our human needs and humanity.
What impact has agriculture had on the national economy?
This question needs more information. It needs to specify which country.
What term best characterizes the American economic system?
process by which people choose how to use limited resources in order to meet their needs
What are the advantages of VAt?
make your economy grow faster....and to supply the needs of the people..also to increase the fund of economy
Write an essay on economy and its types?
EconomyEconomy is the financial condition of the different sectors of the country.This sectors can be illustrated agricultural sector, industrial sector, service sector.All this sectors together affect the whole economy of the country.The study of economy of any country helps us in finding out the financial condition of the population as well as the different working sectors of the country.It also helps us in comparing the economic condition of two different countries.There are mainly three types of economy.1.Developed economy[U.s.a.,Britain,France]2.Undeveloped economy[Letin American Countries ]3.Developing economy[India,China,Sri lanka]In India we have mix economy.where one part of the population of the country is facing problems in even satisfying their basic needs. On the other hand the other part of population is fully developed.Fromkomal parmar & sandeep parmar.___________.EconomyEconomy is the financial condition of the different sectors of the country. This sectors can be illustrated (with the folowing : agricultural sector, industrial sector, service sector. All this sectors together affect the whole economy of the country.The study of economy of any country helps us ( find ) the financial condition of the population as well as the different working sectors of the country. It also helps ( ) comparing the economic condition of two different countries.There are mainly three types of economy.1.Developed economy[U.(S).(A)., Britain, France]2.Undeveloped economy[L(a)tin American Countries ]3.Developing economy[India,China,Sri lanka]In India we have mix economy(,) where one part of the population of the country is facing problems satisfying (even) their basic needs(,) On the other hand the other part of population is fully developed, (From better Education, to better living conditions and so on.)Fromkomal parmar & sandeep parmar (rewrote by frank schumager)
What is the developing countries?
Analyse the importance of industries to the least developing countries like Tanzania
State Why would you recommend a mixed economy for a developing country?
I would recommend a mixed economy for a developing country because it combines the advantages of both market and planned economies, enabling flexibility and responsiveness to local needs. This approach encourages private entrepreneurship and investment while allowing for government intervention to address inequalities and provide essential services. A mixed economy can foster sustainable development by balancing economic growth with social welfare and environmental protection. Additionally, it can attract foreign investment while ensuring that the benefits of growth are distributed more equitably among the population.
