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Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What are the factors that inhibit globalisation?
Tariffs such as taxes on goods and services.Barriers such as Communication;countries speaking different languages would not be able to understand other countries for e.g English speaking countries and Arabian speaking countries. Thus preventing economic integration.Political barrierssuch as Cuban Countries they don't like America rulings and political views therefore they would not cooperate in any kind economic integration with any American countries.
What is opportunity cost and how does it factor into making economic decisions?
Opportunity cost is the value of the next best alternative that is given up when a decision is made. It factors into making economic decisions by helping individuals and businesses weigh the benefits and drawbacks of different choices and make informed decisions based on what they value most.
What is the definition of economic forces?
Economic forces are certain factors that are considered in making decisions of a company that can either bring success or failure in their business. These elements in business are the key factors in determining the next steps and strategies that a company must implement.
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
What are two economic factors that affect financial decisions?
Buzz kill
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
Which are the two major fields of economic study?
The two major fields of economic study are macroeconomics and microeconomics. Macroeconomics deals with the large scale economic factors while microeconomics deals wit single factors of personal decisions.
What are the factors that inhibit globalisation?
Tariffs such as taxes on goods and services.Barriers such as Communication;countries speaking different languages would not be able to understand other countries for e.g English speaking countries and Arabian speaking countries. Thus preventing economic integration.Political barrierssuch as Cuban Countries they don't like America rulings and political views therefore they would not cooperate in any kind economic integration with any American countries.
Does average family size vary between regions in countries Why or why not?
Yes, average family size can vary between regions in countries due to factors such as cultural norms, economic conditions, urbanization levels, and access to education and family planning services. These factors can impact decisions around family size and influence demographics in different regions.
What is opportunity cost and how does it factor into making economic decisions?
Opportunity cost is the value of the next best alternative that is given up when a decision is made. It factors into making economic decisions by helping individuals and businesses weigh the benefits and drawbacks of different choices and make informed decisions based on what they value most.
What factors pull and push immigrants to new countries?
Immigrants are often pulled to new countries by factors such as economic opportunities, better living conditions, political and religious freedom, and a chance for a better quality of life. At the same time, they may be pushed from their home countries due to factors such as political instability, violence, persecution, lack of economic opportunities, and poverty.
What is the definition of economic forces?
Economic forces are certain factors that are considered in making decisions of a company that can either bring success or failure in their business. These elements in business are the key factors in determining the next steps and strategies that a company must implement.
What is global economic environment?
The global economic environment refers to the overall conditions and factors that affect economic activity on a worldwide scale. This includes factors such as international trade, exchange rates, political stability, global economic growth, and financial markets. Understanding the global economic environment is crucial for businesses, policymakers, and investors in making informed decisions.
What is power in countries?
Power in countries refers to the ability of a government or ruling entity to govern effectively, make decisions, enforce laws, and maintain authority over its territory and population. It can be exercised through various means such as military, economic, political, and social influence. Power dynamics in countries can be influenced by factors such as leadership, institutions, resources, and public support.
A list of factors that can discourage economic growth in South Africa and how can the government overcome them?
trade to developed countries
