What are two characteristics of a Political Economy that are conducive to entrepreneurs (i.e., they create an environment that encourages the formation of new businesses)?

Q: The people of China now enjoy a socialist market economy rather than pure communism. What must the…

A: Economic Freedom Every person has the fundamental right to govern their own employment and property,…

Q: Under what conditions might government intervention in an economy improve a market outcome?

A: Government intervention is an action by the government that influences the change in the social…

Q: Your non-profit has just been awarded a special government environmental clean- up grant of $90,000.…

A: The amount of the grant is $90,000. If we take the grant today, then we get $90,000. But if we wait…

Q: "Vernon Smith started a series of experiments to see whether basic predictions of the standard…

A: The study of the influence of psychological, cognitive, emotional, cultural, and social factors on…

Q: Compare and contrast the various types of economic systems

A: An Economic System is any process which includes mechanisms for the manufacture, delivery, and trade…

Q: Compare and contrast political economy and political system.

A: Despite the fact that the terms political economy and political system are sometimes used…

Q: after Cambridge dictionary the particular way in which a person or group thinks about something…

A: Mentality Noun [ Usually singular]  A person's particular way of thinking about things:  I can't…

Q: Which of the following refers to an economy which most economic decisions are made by the government…

A: While in laissez-faire free markets (market-oriented) economies, demand and supply are determined by…

Q: What is the closest example to a command economy?

A: The communist society refers to the command economy. In a command economy, there is a monopoly that…

Q: Describe what economic incentives are

A: Economic incentives are financial motivations that influence the behavior of individuals,…

Q: Karl Marx envisioned a perfect society that would be based on a smoothly running capitalist system…

A: Communist society is a type of societal structure postulated in the Marxist thought that…

Q: What can affect the prioritization of economic goals.

A: The objective of economic effectiveness has been characterized as the most elevated conceivable…

Q: What are the features of the socialistic economy?

A: According to the given question In Simple words we can say that a socialist economy is that type of…

Q: Describe any four economic systems that you know of in your economy

A: The objective of this question is to describe four different types of economic systems that exist in…

Q: Give at least one way in which communication can participate in local economic planning

A: Introduction In the evolving international viewpoint, it is no longer possible to reject the…

Q: The chapter defines private enterprise as a characteristics of market-oriented economies. What would…

A: Public enterprise, a enterprise wholly or partly owned by the state and controlled through a public…

Q: Consider the following grading system for a hypothetical economics class: At the end of the semester…

A: Economic System can be defined as the method used by the society for the production and distribution…

Q: Apart from being “control centers" and “focal points" of global capitalism, global cities also…

A: global cities are confronting different issues: ● Environmental issues● Stressed properties● The…