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What does it mean to say US has a service economy?
Economies have several types of businesses, such as agricultural, manufacturing and service. Agricultural and manufacturing businesses are self-explanatory. Service business are ones that provided services like telephone, sales, medical and the like to the economy. A country's economy is called a service economy if its businesses are predominantly service oriented as opposed to agricultural or manufacturing oriented. The US has more businesses that provide services to the public than farming or manufacturing businesses, therefore it is a service economy.
What is the difference between public debt and private debt, and how does it impact the overall economy?
Public debt refers to the money owed by the government, while private debt is the money owed by individuals or businesses. Public debt can impact the economy by affecting interest rates, government spending, and investor confidence. Private debt can impact the economy by influencing consumer spending, investment, and overall economic stability. Both types of debt can have significant effects on economic growth and financial stability.
What is the difference between private debt and public debt?
Private debt refers to money borrowed by individuals or businesses from private sources such as banks or other financial institutions. Public debt, on the other hand, is money borrowed by the government from the public through the issuance of bonds or other securities. The key difference is that private debt is incurred by individuals or businesses, while public debt is incurred by the government.
What is a mixed economy?
A mixed economy is a system, where private and public enterprise are combined.
What are the main features of a mixed economy?
A mixed economy employs features of both Government/Planned economy and a Free market. Thus, it has features of both. It has 2 sectors. Public and Private. The public sector, being the government, takes care of public services that private businesses cannot afford to finance e.g street lighting, public transportation, law and order, public healthcare, defence and the Jusicial system. Their motive is social welfare. The private sector however is owned,controlled and managed by individuals, whose motive is profits. Examples include private owned companies and private schools. Basically, a mixed economy is a free market economy with government intervention thrown in. They control some aspects of the economy while indiviuals control the rest. in a mixed economy ,there is the gain of low general price level which ultimately lead to increased production and which may generate more employment capacity.
What does it mean to say the US has a service economy?
Economies have several types of businesses, such as agricultural, manufacturing and service. Agricultural and manufacturing businesses are self-explanatory. Service business are ones that provided services like telephone, sales, medical and the like to the economy. A country's economy is called a service economy if its businesses are predominantly service oriented as opposed to agricultural or manufacturing oriented. The US has more businesses that provide services to the public than farming or manufacturing businesses, therefore it is a service economy.
What does it mean to say US has a service economy?
Economies have several types of businesses, such as agricultural, manufacturing and service. Agricultural and manufacturing businesses are self-explanatory. Service business are ones that provided services like telephone, sales, medical and the like to the economy. A country's economy is called a service economy if its businesses are predominantly service oriented as opposed to agricultural or manufacturing oriented. The US has more businesses that provide services to the public than farming or manufacturing businesses, therefore it is a service economy.
What influences individuals while constructing their opinions on politics?
Public perception of the leader, his agenda, and his policies all influences individuals. Mainly, it's about the economy: if the economy is good, he will be seen as an ideal candidtate; if the economy is bad, he should be booted out.
What is the difference between private and public relief?
Private relief help is provided by individuals and businesses. Public relief help is provided by the government through public taxes.
What is the difference between public debt and private debt, and how does it impact the overall economy?
Public debt refers to the money owed by the government, while private debt is the money owed by individuals or businesses. Public debt can impact the economy by affecting interest rates, government spending, and investor confidence. Private debt can impact the economy by influencing consumer spending, investment, and overall economic stability. Both types of debt can have significant effects on economic growth and financial stability.
Who possesses the factors of production for Kenya?
The factors of production in Kenya are owned by a mix of private individuals, businesses, and the government. Private individuals and businesses predominantly own physical capital and entrepreneurship, while the government may own some natural resources and provide infrastructure and public services. Kenya has a market-oriented economy where these various entities play a role in the production process.
What is the difference between private debt and public debt?
Private debt refers to money borrowed by individuals or businesses from private sources such as banks or other financial institutions. Public debt, on the other hand, is money borrowed by the government from the public through the issuance of bonds or other securities. The key difference is that private debt is incurred by individuals or businesses, while public debt is incurred by the government.
What are different between public and private sector?
Public sectors are owned and/or serviced by the government. Private sector businesses are owned by individuals and do not pay a direct dividend to the government.
What are retail businesses?
Businesses that sell to the public, vs. businesses that sell their products to other businesses which then redistribute the products to the public.
Why Public Relation?
In present competitive market scenario public relations is one of the important aspects for growth of businesses and individuals. Public relations has come up with new improvements and various prospective nontraditional mediums for communications. With effective communications and PR a businesses can reach new heights and new dimensions.
What is a mixed economy?
A mixed economy is a system, where private and public enterprise are combined.
What are the main features of a mixed economy?
A mixed economy employs features of both Government/Planned economy and a Free market. Thus, it has features of both. It has 2 sectors. Public and Private. The public sector, being the government, takes care of public services that private businesses cannot afford to finance e.g street lighting, public transportation, law and order, public healthcare, defence and the Jusicial system. Their motive is social welfare. The private sector however is owned,controlled and managed by individuals, whose motive is profits. Examples include private owned companies and private schools. Basically, a mixed economy is a free market economy with government intervention thrown in. They control some aspects of the economy while indiviuals control the rest. in a mixed economy ,there is the gain of low general price level which ultimately lead to increased production and which may generate more employment capacity.
