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Why business is an economic activities?
Firstly, it's very much important to be aware about the term business which is signified as an organization involved in the trade of goods, services, or both to consumers. It may be owned by multiple individuals and may be referred as a company. It may also be a non-profit or state owned business that can be signified as in the form of the economic activity as it is related to production, distribution, exchange and consumption of goods and services.The primary aim of any business activity is the production of goods and service and to move them from the place of production to the place of consumption.In other words, business as an economic activity are those efforts which are undertaken by the employees for the purpose of earning maximum profit by increasing productivity and ultimately resulting into the increment in the sales volume of the organization.
Service industries such as finance insurance and tourism?
tertiary economic activities
What is it called when the government takes a hands off approch to businesses?
The government taking a hands-off approach to businesses is called "laissez-faire" economics. This philosophy advocates for minimal government intervention in economic activities, allowing free markets to operate with little regulation. The idea is that competition and consumer choice will naturally regulate the market and promote efficiency.
Who answers the three economic questions in a command economy?
The government answers the three economic questions in a command economy.
How a government can maintain fixed exchange rate?
If a government were to fix an exchange rate and stick to it, it could mean total economic failure for a country. Having the exchange rate fluctuate somewhat gives a chance for economic growth.
What are the major economic activities of the Persian Gulf?
Major economic activities in the Persian Gulf and interior areas of the region include oil production, farming, and gas production.
What is the difference between economic systems and economic activities?
Distinguish between economics activities and economics system
What are 3 economic activities?
capital production distribution
What are the reasons for government involvement in economic activities?
There are many reasons for government involvement in economic activities. The government would check activities to make sure that prices are fair, employment is fair, and the pay for employees is fair and equal.
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
What primary economic activities are associated with making a pair of jeans?
Cotton production, dye production, and metal production (for the buttons and rivets).
In which economic system does the government own the means of production?
command
What are the important economic activities in cross timbers?
agriculture
How did Spain control the economic activities of its colonies?
They heavily taxed all domestic production.
What are some of ghanas economic activities?
agriculture, crop production, and fishing
What government controls economic activities but people own property?
fascism
Are elements of the economic system of government?
production, manufacturing, and the distribution of goods
