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Economic Systems
Economic Systems are various methods by which countries have structured their economies. The earliest economic systems were based on simple bartering, whereas modern economics has nuances between laissez-faire and free market on one edge of the spectrum and communism or centrally-planned economies on the other.
787 Questions
market
yes
What could price lists and lists of workers wages tell us about a peoples economic system?
I betc you have the medieval book. AND YOU'RE CHEATING ! it's OK I've been there too XD
What is the most secure type of system?
If you mean in relation to computers - a Local Area Network (LAN) with NO access to the internet is the safest network. Take, for example a UNIX network. Each terminal ONLY has a screen and keyboard, with NO disc drives. All the terminals are connected via a 'server' The only disc access is from a 'supervisors terminal' - therefore - that is the ONLY point at which any thing malicious can be introduced. It's also the only place anyone could copy anything off the network to floppy disk etc.
The Great Depression was an aberration once all factors dealing with the banking system at the time are put into focus. Bank dealings through the Central Bank, i.e. the Federal Reserve, were based on a gold standard; meaning there was only so much paper money for the gold the United States had on hand. When the Federal Reserve sent money to England to prevent their depression the cash did not flow back to America in a timely fashion and therefore a shortage of cash money became apparent. As long as there was no run on the banks everything was fine. As soon as people withdrew money from the banking system, which was tied to how much gold the Federal Reserve had, the system crumbled and the Great Depression begun in full swing. The adherence to the gold standard prohibited the Federal Reserve from expanding the money supply. This is the main reason the United States no longer relies on the gold standard for the basis of the dollar.
What was the gold standard and which groups of Americans supported it?
The gold standard was a system of money where the government owned and kept an amount of gold that was represented by the paper money issued. Paper money was called gold certificates and originally you could present the paper money and be given the stated face amount of gold for it.
People like libertarians and strict constitutionalists supported the system, but the US stopped using it.
The increasing interconnectedness among national economic systems?
Interconnected national economics is called globalization. Globalization is increasing because of the benefit of faster flow of goods, services, finance, and ideas. This is becoming more important because the ability to communicate better for the interest of exchange and more productive investments by eliminating borders.
Marx believed his economic system would pay workers according to their needs?
true.
Yes it is the basis of Marxist theory.
What are the pros and cons of traditional centrally-planned and free market economic systems?
Traditional:
Pros: Family support and communal division of resources
Cons: No individuality and dependence upon nature
Free Market:
Pros: Free enterprise and more diversity
Cons: Based on human chance and private property can cause contention
Centrally-Planned:
Pros: Extremely controlled economy and there is an even distribution of goods produced
Cons: It can be taken advantage of and opportunity cost.
Is economic systems based on profit and loss?
The economic systems is based on profit and loss since they reflect the values of the economy in place.
What is Netherlands economic system?
The Netherlands economic system is known as an open economy that mostly depends on foreign trade. It is a mixed economy which is regulate by the government as well as private entrepreneurs.
How did the authors of the Constitution set up the basis for a sound economic system?
I believe that Alexander Hamilton had set up the sound economic system, basing it largely of England's economic system. (feel free to add or change)
Why does each country have to develop an economic system?
Countries have to develop economic systems to provide the framework for people inside of the countries to have a means of making money and sustaining their livelihoods.
Does socialism economic system reduce the unemployment?
A socialist economic system eliminates unemployment by employing all able workers. If there is a surplus of workers, average working hours are reduced. The reduction in wages is made up to each individual worker through owning a share of industry (public ownership of the means of production).
In effect, while a capitalist economy suffers unemployment from increasing automation, a socialist economy could just reduce the average working day for each worker while maintaining full employment.
How does being a Pediatrician affect the economic system?
Pediatricians help children that are sick, and therefore take care of the leaders of the future, who are technically the ones that keep our economy running.
How did the silk road affect economic systems?
The silk road connected two major points which were huge trading posts, without it neither areas would be as prosperous.
market
What economic system MOST supported the colonial economy?
A capitalist economic system is what supported the colonial economy. This meant that the economy was built upon people who could capitalize off of it.
Coase theorem Informal theorem due to University of Chicago economist and Nobel prizewinner Ronald Coase. It states that if there are zero transaction costs, the socially efficient outcome will occur regardless of legal entitlement. In other words if rights can be bought and sold rational agents will trade them for money in such a way as to maximize returns. In jurisprudence as influenced by economics, this can be used to argue that rights should be allocated to those willing to pay the highest price for them. The implication is taken to be that the market can take care of matters such as the costs to be borne by businesses that harm the environment.
Viper1
What economic system MOST encourages entrepreneurship?
hindi mo ba alam mali ang mga sagot ko sige ka pag mali to lagot ka sa teacher mo . HALA ka! kya sa iba kna lng mg hanap ng Assignment mo. wag DITO ok!.....
Karl marx believed that under this economic system one class would evolve?
Under communism, there would be no social classes. However, one could look at it as having only one class of people.
What type of economic system did the Marshall plan promote?
The Marshall Plan was a US Foreign Policy designed to promote CAPITALIST DEMOCRACIES in Europe by rebuilding postwar Europe and making Europeans more moderate in their approach.
i don't no tell your grandma
obviously you dont know anything if you cant even spell 'Know'
