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What role do incentives play in rational economic decision-making when deciding answer to problems like?
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What are the economic system of economic?
There are 3 major and common problems faced by every economical unit.1)What to produce?2)How to produce?3) Produced to whom?Though these questions are common various economic units use several methods to solve them.These various types are called Economic Systems.So A social and institutional order which is developed by people to solve major economical problems can be defined as a Economic System.The word System is specially used in subjects like Bio Science to express bunch of institutions which work under their authority not under external influences.So in a Economic System there we can find hundreds of institutions which work as above.Examples-Business Institutions,Households,Government, Law, Incentives etc.By the way we know that there is a diversity in Economic Systems. There are 3 major reasons for that diversity.1)Ownership of property and rights (when Factors such as Land,Capital are handled with Private sector it is called a CAPITALIST ECONOMIC SYSTEM.When such factors are handled with Government it is called a SOCIALIST ECONOMIC SYSTEM)2)The Mechanism used to coordinate the answers given to major economic problems(when major economic problems are solved under the guidance of Price Mechanism it is called a Market Economy. When it is done under the command of government it is called a COMMAND ECONOMY)3)The system of Incentives (Incentives motivate various economical units to economical activities. In market economies that motivation is given by Profit. In Command economies it is gained through Powers of Authority)---Hirantha Imesh(HIRU)
What are the solutions for basic economic problems?
what are the basic economic problems facing nigeria and their possible solutions
A nations plan for answering the key economic problems is called its economic?
Economic System
How does a computer help in economics field?
Increased computing capacity and flexibility have stimulated and shaped the development of modern economics by permitting formal theory to be applied to large databases. The result has been the growth of econometrics and a much wider range of economic analyses, including interindustry analysis, regional economics, public finance and governmental decisionmaking, the development of macroeconomic models for large-scale economic forecasts and simulations, and analysis of economic aspects of public policy issues, especially those pertaining to education, health, and poverty. Despite the dramatic growth in the use of computers in economic analyses, some major economic problems unamenable to computational methods will remain unresolved - e.g., "fine-tuning" of price stability, employment, and production growth. Other problems, relating especially to methodological issues in economics, have been aggravated by the more extensive application of computers. None of these problems is new, however, nor attributable to computer use in itself.
Is economic instability the root all socail problems?
What is international economic instability
How did the war affects Americas economic situation?
It created economic problems .
What is the meaning of Economic Problems?
Economic Problems means trouble in the Economy
What are the economic system of economic?
There are 3 major and common problems faced by every economical unit.1)What to produce?2)How to produce?3) Produced to whom?Though these questions are common various economic units use several methods to solve them.These various types are called Economic Systems.So A social and institutional order which is developed by people to solve major economical problems can be defined as a Economic System.The word System is specially used in subjects like Bio Science to express bunch of institutions which work under their authority not under external influences.So in a Economic System there we can find hundreds of institutions which work as above.Examples-Business Institutions,Households,Government, Law, Incentives etc.By the way we know that there is a diversity in Economic Systems. There are 3 major reasons for that diversity.1)Ownership of property and rights (when Factors such as Land,Capital are handled with Private sector it is called a CAPITALIST ECONOMIC SYSTEM.When such factors are handled with Government it is called a SOCIALIST ECONOMIC SYSTEM)2)The Mechanism used to coordinate the answers given to major economic problems(when major economic problems are solved under the guidance of Price Mechanism it is called a Market Economy. When it is done under the command of government it is called a COMMAND ECONOMY)3)The system of Incentives (Incentives motivate various economical units to economical activities. In market economies that motivation is given by Profit. In Command economies it is gained through Powers of Authority)---Hirantha Imesh(HIRU)
What are some Micro economic problems facing Kenya?
economic problems in kenya today
What are the solutions for basic economic problems?
what are the basic economic problems facing nigeria and their possible solutions
How did war affect america's economic situation?
economic problems
What economic problems that encounter in to the school?
voucher economic problem
How are people affected by economic problems?
People are affected by economic problems because their is no work and there is no money to pay their expenses.
A nations plan for answering the key economic problems is called its economic?
Economic System
What are the advantages and problems associated with wage incentives?
One disadvantage of using wages as incentives is the fact that you will have to continue using them to motivate employees. An advantage of using money is the fact that many employees are motivated by finances.
How have Haitis political problems influenced its economic problems?
Yes
Were there economic problems at the time of Jesus?
no
