0
Rate this Study Guide:
☆☆☆☆☆Generally speaking a mixed economy is one where the government has controls over private industry through various types of regulations. One example is the setting of the minimum wage. For the most part a mixed economy does not require the government to actually own any of the means of production. Also, a mixed economy creates "authorities" to operate tunnels, bridges and airports.
A trade-off is an alternative that we sacrifice when we make a decision.
Yes, Price effect = substitution effect + income effect
Its answer is based on the importance it attaches to various economic goals and societal values.
They are called factor payments.
immediate demand for a good will go up if it's price is expected to rise.
this is how population changes affect demand for certain goods.
agreement on the price and quantity traded
equity
Safety Net!
economic effiency
saws and drills
Customs and traditions.
A person wants an endless supply of everything but cannot have it.
Type
hard work and patience
A layoff of 500 workers at the city's airport could cause the demand curve for cars in your city to the left.
Federeal Deposit Insurance Corporation (FDIC)
The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.
