Adam Smith, David Ricardo, Alfred Marshall and John Maynard
Keynes
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Term1/7
Whose economic theories did president roosevelt and his advisers advocate
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Definition1/7
John Maynard Keynes.
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Term1/7
Division of labor results in
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The division of labor generally leads to specialization in any
production line. Furthermore, division of labor increases the
efficiency of production and makes the process faster.
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What is the difference between market economy and mixed economy
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The difference between market economy and mixed economy is that
a marked economy is a marked economy and a mixed economy is a mixed
economy
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How does the free enterprise system of the US promote individual initiative
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The free enterprise system of the US promotes individual
initiative because it propagates the idea that every individual can
be an entrepreneur and start his own business.
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Term1/7
Why is specialization a common result of free trade
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competition encourages countries to specialize in what they do
best
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What determines the price of goods in a free enterprise system
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Supply and demand
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Cards in this guide (7)
Foreign economist and their contributions
Adam Smith, David Ricardo, Alfred Marshall and John Maynard
Keynes
Whose economic theories did president roosevelt and his advisers advocate
John Maynard Keynes.
Division of labor results in
The division of labor generally leads to specialization in any
production line. Furthermore, division of labor increases the
efficiency of production and makes the process faster.
What is the difference between market economy and mixed economy
The difference between market economy and mixed economy is that
a marked economy is a marked economy and a mixed economy is a mixed
economy
How does the free enterprise system of the US promote individual initiative
The free enterprise system of the US promotes individual
initiative because it propagates the idea that every individual can
be an entrepreneur and start his own business.
Why is specialization a common result of free trade
competition encourages countries to specialize in what they do
best
What determines the price of goods in a free enterprise system
With centrally planned on the left and free market on the right which of the following countries economic systems would be farthest to the right on the continuum of mixed economies