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☆☆☆☆☆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
Combination of social values and goals.
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
Safety Net!
Customs and traditions.
A person wants an endless supply of everything but cannot have it.
low income
hard work and patience
In order to know which of the following is not an economic goal that influences how societies answer the three key economic questions one would need to know the answer choices.
The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.
