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Answer this question… Localized economies give communities more control over the goods and services they produce.

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What is one major advantage localized economies have over more globalized economies?

Answer this question… Localized economies are less reliant on multinational corporations for their essential goods.


What is a large company's ability to take advantage of economies of scale?

The company can offer goods more cheaply than smaller retailers


Which of the following results from a large company's ability to take advantage of economies of a scale?

The company can offer goods more cheaply than smaller retailers.


What does it mean for the economy to become more globalized?

ongoing increases in trade between nations


In what circumstances is an economy said to have a comparative advantage in producing a particular good?

An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.


Are globalized countries more or less democratic?

Generally speaking, since the countries that are engaging heavily in the globalized market are wealthier European or European-style countries, the most globalized countries are disproportionately democracies. However, there are a number of key players in the globalized market, such as China, Vietnam, Russia, and Turkey* are widely seen as being non-democratic.*People debate whether or not Turkey is an illiberal democracy or a dictatorship masquerading as a democracy.


Why more modern economists are mixed economies elaborate?

Most mixed economies can be described as market economies with strong regulatory.


Why might developed economies want to outsource manufacturing and other jobs to developing economies?

Why might developed economies want to outsource manufacturing and other jobs to developing economies?


In what ways can an economy be said to have a comparative advantage in the production of one good?

An economy can have a comparative advantage in the production of one good when it can produce that good at a lower opportunity cost compared to other goods. This means that the economy can produce the good more efficiently, allowing it to specialize in that particular product and trade with other economies for goods in which they have a comparative advantage.


What is one different between a newly globalize country and a non-globalized country?

A newly globalized country is actively participating in international trade and investment, which can bring economic growth but also expose it to greater economic risks. In contrast, a non-globalized country may have limited exposure to global markets, potentially resulting in slower economic development but also offering more protection from external economic shocks.


How do underdeveloped countries lift their economies through entrepreneurship?

Entrepreneurs in underdeveloped countries increase economies by employing others. The more people management employs, the more they help their community.


Advantages of unit bank?

A unit bank has advantages that branch banks cannot offer, such as more personalized service geared to its clientele. The employees of unit banks have the advantage of being able to get to know their consumers and have the ability to customize their products to meet the needs of their localized economy.