Question 9.9.   Which is not one of the five fundamental questions that an economy must deal with?  How will the goods and services be produced?        Why should the goods and services be produced?        Who is to receive the goods and services produced in the economy?        In what ways will progress be promoted?

Q: What does a circular-flow diagram do? ○ It illustrates cost-benefit analysis. ○ It explains how the…

A: The economic model with significant exchanges occurring between the economic units is referred to as…

Q: Cuba dictates and decides most of the economic decisions. Identify the type of economic system in…

A: A command economy is defined as an economy where the government or the central planners own and…

Q: In Economics, "______________________   is the sum total of skills embodied within an individual:…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Describe 10 principles of economics. Explain what questions economics addresses, as well as the…

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Q: d. factors influencing the rate of economic growth

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: The four factors of production that produce economic activity are ______. a. Corporations, small…

A: Factor of production refers to the inputs needed for the creation of commodity or services

Q: What type of change matches each of the statements below: the options are - cultural, ideological,…

A: The 4 types of change which are cultural, ideological, technological and economic will be classified…

Q: A.C. Pigou considered economics as ______________. A. Science of wealth B. Science of material…

A: The Pigou effect reflects the relationship between asset utilization, labor, and productivity during…

Q: How does education contribute to community development 3 paragraph.?

A: Education has always been a direct product of quality of life, social and individual ideals,…

Q: xplain how business contributes to society at large, share a minimum of four benefits and briefly…

A: Business is the movement of bringing in one's living or bringing in money by producing or buying and…

Q: Q) What are some economic opportunities and challenges for an ageing population? Can you show this…

A: A continuous increase in the median age of the population due to increasing life expectancy and…

Q: The statement that describes the term Scarcity is __________________ a. the government is spending…

A: The study of economics is needed due to the presence of scarcity. Scarcity is the primary factor due…

Q: Define in your own words what is production and what are the factors that enhances the production in…

A: Introduction and definition if production is given below:

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Q: 5. Cuba dictates and decides most of the economic decisions. Identify the type of economic system in…

A: The economic system depends on the various types of control over the resources and the economic…

Q: The three fundamental economic questions are what to produce whom to produce and_________?

A: Generally considering an economic entrepreneur or agent there are three fundamental economic…

Q: Identify the type of economic system. Enumerate one advantage and disadvantage per…

A: Laissez-faire is an economic concept where the market is believed to be free from any government…

Q: The core of most economics debates comes back to the three core questions that we are trying to…

A: The laissez faire approach is the economic system which required minimum government involvement and…

Q: Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount…

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Q: 1.1. What type of economy is the South African economy? A. A command system B. A mixed economy C. A…

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Q: Because the companies have a great deal of economic _______________ they can decide what products to…

A: Because the companies have a great deal of the ECONOMIC DEMAND they can usually decide what products…

Q: production possibilities curve with consumption goods and capital goods that displays the law of…

A: introduction.

Q: Describe the partners of an organization and Business models that alternate strategies and concepts…

A: Business models and organizations have partners and collaborate for the expansion of business.…

Q: ________ is a fundamental aspect of economic system in which individuals, rather than the state,…

A: Economic freedom or liberty is a fundamental aspect of an economic system in which individuals,…

Q: power company decides to use wind turbines to produce energy instead of oil. Which basic economic…

A: Economics is a social science that studies product and service production, distribution, and…

Q: A traditional economic system which is simply explained as “producers consumers relationship” is…

A: The economics as a study is based upon the idea that the economies, or the societies around the…

Q: Productivity measures: Select one: a. per unit production costs.  b. the changes in real wealth…

A: The term 'productivity' is primarily used in t he production process because it explains the ability…

Q: The primary focus of the study of economics is on: a. expanding the production of goods and…

A: Finance is a social science concerned with understanding how people, groups, and countries control…

Q: Why is scientific literacy is important? Answer can be related to decision-making, economic…

A: There is a type of government which is known as communist type of government. In this type of…

Q: Which economic system do you think is better in answering the following basic economic questions: a.…

A: An economic system is a method by which social orders or governments distribute and organize…

Q: A. You have been employed as policy maker to the federal government of your country. Discuss some of…

A: A federal system of government is one in which a central government and its constituent political…

Q: 2. Explain the law of increasing opportunity cost in a production possibility curve. What is the…

A: As per honor code, we’ll answer only one question at a time, we have answered the question 2. Please…

Q: How did businesses change over the period 1870-1900? Provide three examples of successful people,…

A: The organisation and management of American industry underwent a significant transformation in the…

Q: QUESTION 28 Fl in the blank using the number that corresponds to the correct word or phrase in the…

A: The emphasis on opportunity cost, the assumption of maximization in terms of one's own…

Q: he economic institution that transforms factors of production into consumer goods is: a. a firm.…

A: Production factors are those inputs that are required to manufacture or produce final products and…

Q: When the natural economic growth process begins in a capitalist economy A. the prices of capital…

A:

Q: Most economies in the world are built in a way that both the government and the private sector make…

A: Different types of economic systems are: Capitalist economy: In a capitalist economy, items are…

Q: There are five economic sectors that house different types of work/economic activities. First, list…

A: There are five unique areas in an economy:  Primary activities  Primary activities are…

Q: Which of the following situations is not a macroeconomic objective? a. economic efficiency b.…

A: Desclaimer , You posted the multiple questions , we are supposed to solve the 1st questions only .…

Q: How much the economy can produce at its natural rate of output depends on a. technology b. the…

A: A natural rate of output can be understood as the level of output that the economy is able to…

Q: Answer in detail. The technology plays an important role in the development of an economy. How?

A: Technology refers to the tools, techniques, methods, and knowledge used to create, develop, and…

Q: Which one of the following is a positive economic statement? a. Thoughtful people oppose an…

A: Positive economic statement establishes a cause and effect relationship between variables and it…

Q: Define economics and describe the two types of economic systems: capitalism and command economy.

A: Introduction  An economy is a system which provides people, the means to work and earn a living.

Q: Explain the given headings how they impact on the development of society? Printing Press. The…

A: Printing press is very important for the development of society. Through printing press,news media…