Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
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In which of the below economies would the vast majority of people engage in simple agricultural activities and consume most of their output.
a. Raw material economy
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b. Subsistence economy
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c. Industrializing economy
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d. Emerging economy
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e. Industrial economy
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- I need answer typing clear urjent no chatgpt i will give chatgptarrow_forward1. What is economics, and how can you benefit from understanding basic economic concepts? 2. Compare and contrast the world’s major economic systems. Why is capitalism growing, communism declining, and socialism still popular?arrow_forwardThe Invisible Hand of a Market Economy 1. Adam Smith, in The Wealth of Nations, said the "invisible hand" determines what gets produce, how, and for whom. how individuals and firms working toward increasing their own wealth actually benefit society as a whole. For example, in the auto industry, the interactions between consumers and producers determine how many cars are produced rather than some central planning agency.arrow_forward
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