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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
What is the true role of the US government in our free enterprise economic system?
The US government primarily serves as a regulator of businesses and an arbitrator between business disputes.
Cybernomics is an economic system driven by internet commerce.
What is Colombia main industry?
Colombia' economy relies heavily on the exports of petroleum and coal.
What are the socio economic system of Palestine?
Before 1967, Palestinian society contained four major classes: refugees, peasants, landowners and the urban middle class. Traditionally, the society was rural and mainly engaged in agriculture (rural population 1967: approx. 60%). With the occupation and its policy of economic annexation and land confiscation, the ratio of rural to urban population fell. The Palestinian working force, which is dominantly men, became dependent on the Israeli labor market which led to the proletarization of Palestinian peasants and refugees with two socioeconomic consequences: The uprooting of Palestinians from traditional village life by the necessity of having to seek employment in Israeli urban centers, and the transformation of the villages to stagnant non-productive sectors as a consequence of this. Although farming dropped considerably, the rural character of the West Bank society remains due to Israeli restriction on urbanization. There are still around 440 villages ranging in size form hamlets of a few houses to small towns of up to 20,000 inhabitants. Half the non-camp population is now urban or semi-urban and only 35% rural. Gaza is much more urbanized with only nine villages but large township-like refugee camps. The Nablus region remains predominately rural.
Among one of the most important changes the Palestinian social structure encountered, was the recognition of the role of the Palestinian woman., Palestinian women presented progressive achievements and sacrifices which firmly established their place in society and status -amongst other social issues- in the struggle against Zionism and occupation. This has considerably challenged ways of thinking which traditionally refused their rights to express their national and social identity. The changing role of women is determined by their participation in resistance and political life, and increased education and employment. Besides the political struggle, women's role in the social movement is of major importance, reflected in the huge amount of women's organizations dealing with all aspects of life. They make up a considerable part of Palestinian civil society.
In August 1994, Palestinian women held a conference and released a draft document to be included in the Palestinian constitution (whenever it gets implemented) guaranteeing political, social, economic and cultural rights for women based on the principle of ideological and individual pluralism and of the respect for the individual and social freedom. The Palestinian Declaration of Independence (1988) had already outlined that "Governance will be based on principles of social justice, equality and non-discrimination in public rights of men or women..."
-Allaboutpalestine-
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Fiat currency is Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith.
Ref: alpari.com/en/beginner/glossary
Who can answer these economic questions I posted in the comments?
Here is full questions. Please help. 1) Which of these is an economic indicator used to tell how an economy is doing? A) Equilibrium Price B) Consumer Price Index C) Job Satisfaction Rate D) Presidential Approval Rate
2) The nation of Swampastan produces only two goods, chips and dip. Calculate the GDP for Swampastan if dip retails for $3.00 a pound and 10 pounds are produced while chips sell for $2.00 a pound and 20 pounds are produced. A) $1,200.00 B) $150.00 C) $30.00 D) $70.00
3) Which of these is an indicator of increased economic growth in a nation? A) increased job satisfaction B) increased aggregate demand C) increased welfare applications D) increased transfer payments by the government
4) Over a three year period, the United States experienced an increase in the real GDP, low inflation, and a declining unemployment rate. For this period, the United States A) was in an economic trough. B) was in a stagnant economic period. C) appeared to be entering a recession. D) was in the middle of an economic boom.
5) Inflation is defined as a rise in the general level of prices. When inflation occurs, the buying power of the dollar would A) increase. B) decrease. C) remain stable. D) not be affected by inflation.
6) Help Wanted Ads Established company seeking full-time residential house cleaner. We will train. Must be honest and dependable. Call (123) 456-7890. Suburban medical facility seeking surgeon. Board Certified required. $1,000 signing bonus for every year of experience, up to $15,000. Send resume to 123 Medical Drive, Suburbia, GA. Temporary lifeguard needed to fill summer holiday shifts at outdoor swimming pool. Must have CPR and lifeguard certification. Apply in person to Bridgefront, 123 Bridgefront, Anytown, GA. Aircraft manufacturer seeking engineers with advanced degree in physics and no less than 15 years experience. Many positions available. Send resume to 123 Aircraft Blvd., Anytown, GA. According to the passage, the aircraft manufacturer has many positions available that remain unfilled due to lack of qualified applicants. This is an example of A) cyclical unemployment. B) temporary unemployment. C) structural unemployment. D) frictional unemployment.
7) Help Wanted Sales Position: Self-Motivated individual needed to sell new homes being built in the Lakefront area. Salary based on commission and experience. Kris applies for the sales position and does well. However, she is laid off in late October due to slow sales. This is an example of what type of unemployment? A) cyclical B) frictional C) organizational D) structural
8) A technology company needs 10 workers experienced in a newly developed programming language. Plenty of applicants express interest in the job; however, only three have the necessary education and experience to complete the work. The remaining unemployed individuals are an example of ___ unemployment. A) cyclical B) frictional C) seasonal D) structural
9) While inflation is a rise in the general level of prices, economic growth is a A) short period during which the nation's total output of goods and services decreases. B) short period during which the nation's total output of goods and services increases. C) sustained period during which the nation's total output of goods and services decreases. D) sustained period during which the nation's total output of goods and services increases.
10) The unemployment rate is usually calculated as the number of unemployed individuals A) divided by the total number of people in a society. B) multiplied by the total number of people in a society. C) divided by the total number of people in a labor force. D) multiplied by the total number of people in a labor force.
11) According to the information, if the shaded areas indicate a recession, unemployment rates A) fall during economic recessions. B) rise during economic recessions. C) rise during economic recovery periods. D) fall during economic recovery periods.
12) The growth rate in the fourth quarter of 2010 was 3.1%. What was the growth rate in the first quarter of 2011? A) -3% B) 1.2% C) 1.9% D) 5%
13) Which of these statements BEST describes the amount of money invested in government fixed assets from 2002 through 2009? A) The amount steadily grew. B) The amount stayed the same. C) The amount steadily decreased. D) The amount fluctuated up and down.
14) Which of these is the BEST definition of GDP? A) a description of the quality of life in a nation B) average value of production of intermediate goods C) a collection of all government assets that could earn money D) market value of all goods and services produced in a country
15) An increase in Americans buying imported goods would result in A) no change in the GDP. B) a decrease in the GDP. C) an increase in the GDP. D) a severely damaged GDP.
16) "Too much money chasing too few goods" is a common way use to describe what economic concept? A) bankruptcy B) depression C) inflation D) recession
17) Which would be the appropriate monetary policy and goal during a period of high inflation? A) Increase interest rates in order to increase the money supply. B) Decrease interest rates in order to decrease the money supply. C) Increase interest rates in order to decrease the money supply. D) Decrease interest rates in order to increase the money supply.
18) During a recession, what must happen to interest rates to spur economic growth? A) drop B) increase C) remain stable D) increase and decrease
19) One way that individuals try to protect themselves against the possibility of becoming unemployed is by maintaining an emergency fund, usually in a very liquid state, such as a savings account. How is such a fund threatened, if unemployment is accompanied by high inflation? A) Inflation reduces the purchasing power of the money in the emergency funds. B) Banks may lower their interest rates so much that the emergency accounts will earn very little. C) Due to bank failures, emergency funds may not be available for withdrawal as quickly as they are needed. D) People may be tempted to use their emergency funds for additional job training to become more employable.
20) If the Midwestern states experienced a wide-scale and prolonged drought, we could expect corn prices to rise sharply. This would be an example of A) cost-push inflation. B) cost-pull inflation. C) demand-push inflation. D) demand-pull inflation.
21) A common criticism of GDP as an economic welfare measure is that it excludes A) the dollar value of net exports. B) the dollar value of happiness levels. C) the dollar value of final goods produced. D) the dollar value of final services produced.
22) On the news you hear that business investment has increased from last year to this year. All else equal, the most likely result is A) higher inflation. B) increased economic growth. C) a general decline in the price level, due to increased productivity. D) the increased capital stock will replace workers, thus increasing unemployment.
23) GDP = consumer spending + government spending + investment + net exports A U.S. business buys new computers for its office workers from a U.S. computer manufacturer. The value of transaction would be included in which category of GDP? A) net exports B) consumer spending C) business investment D) government spending
24) In the business cycle, what always follows immediately after a contraction? A) depression B) expansion C) recession D) trough
25) Town of Coffeeville Total Population: 225,000 Working Age Population: 144,000 Employed: 124,000 Unemployed: 20,000 What is the unemployment rate of Coffeeville? A) 2% B) 7.2% Eliminate C) 13.8% D) 20%
What is employment like in socialist economic system?
Just like the way it works in a capitalist economic system,only you work for the GOVERNMENT and not just some fat guy who likes Cheetos.You will still have a normal "boss",only he will be part of the government.
An economics professor at a local college made a statement that he had never failed a single student before, but had once failed an entire class.
That class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer.The professor then said, "OK, we will have an experiment in this class on socialism". All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A. After the first test, the grades were averaged and everyone got a B.
The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little. The second test average was a D! No one was happy.
When the 3rd test rolled around, the average was an F. The scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else. All failed, to their great surprise, and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great but when government takes all the reward away, no one will try or want to succeed.
Which economic system centers on trade?
The capitalist system or "market economy" uses trade. You earn money where you want and use it to buy what you want (trading money for goods). It is possible that the question is looking for an answer of a "barter economy" where people trade goods and services directly without the use of currency (I give you 1 cow for 5 sheep).
Are virtual jobs viable careers in today's economy?
Virtual jobs are viable careers in today's economy only if you find a trustworthy company to work for. There are so many scams out there that you need to know what you are looking for.
What is the economic system of St. Kitts and Nevis?
St. Kitts and Nevis has a government-moderated capitalist economic system. However, this system is very prone to corruption.
Marxism was originally created by philosophers Karl Marx and Fredrich Engels in the Communist Manifesto (brilliantly written, highly suggested) during 1848 in the midst of the first Red Revolution (strongly assumed to be caused by the Communist Manifesto).
Marxism is the basic form and grandfather of communism. Marxism is the belief that the bourgeois have gained too much power and are controlling everything, while the workers and the proletariats have lost their say in what the country should be doing. So Marx and Engels believe that the working and middle class (the proletariats) should revolt and overthrow the upper-class (bourgeois) from power because all the proletariats have left to lose is the shirts on their backs and nothing else.
Then the Manifesto goes on to explain that the government would be run by the proletariat for the proletariat and everyone would be paid equally, given equal chances at schools etc. The government would have one ultimate leader and have all of their businesses owned by the government, so that no one business could become too powerful and push out small businesses painfully creating much economic strain on the owners and turning them out to the streets with little chance of survival.
"The philosophers have only interpreted the world in various ways- the point however is to change it"- Karl Marx
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a theory that looks at the economic base and the unequal distribution of money and power
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A system of economic, social, and political philosophy based on ideas that view social change in terms of economic factors. A central tenet is that the means of production is the economic base that influences or determines the political life.
Under Marxism, outdated class structures were supposed to be overthrown with force (revolution) instead of being replaced through patient modification. It held that as capitalism has succeeded feudalism, it too will be removed by a dictatorship of the workers (proletariat) called socialism, followed quickly and inevitably by a classless society which governs itself without a governing class or structure. Developed in the 19th century jointly by two lifelong German friends living in London - Karl Marx (1818-1883) and Friedrich Engels (1820-1895) - it forms the foundation of communism. Refer to link below.
Marxism is a political and economic philosophy which states that the class struggle is the basic agency of historical change, and capitalism will ultimately be superseded by communism. It was named after Karl Marx.
What type of economic system does Namibia use and why?
Namibia has a traditional economic system, because they are very agricultural and they don't really rely on the growth of human society today.
What combines the elements of pure economic systems?
A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.
