Which of the political tools for controlling economic systems is the best?

Q: Which of the following examples shows the most elastic demand?

A: Price elasticity of demand: Price elasticity of demand shows the effect on demand with the change in…

Q: Can Capitalism be classified as a religion? Explain

A: Capitalism is an economic system based on the private ownership of productive assets and their…

Q: Does the economic model or socioeconomic model of social responsibility make more profits? And why?

A: ANS The economic model assumes that society will receive the most benefit when producers are left…

Q: What are the types of market failures in an economy? and gave two examples of each.

A: Market failure occurs when the price system in the economy fails to factor in all the economic…

Q: Netflix is a popular entertainment service. How does Netflix cause an interaction between the social…

A: Netflix is an online OTT platform that provides various programs of entertainment such as movies,…

Q: What are the social and economic implications of putting a power?

A: The plants might lead to the release of small amounts of carbon dioxide and sulfur dioxide and do…

Q: A __________ system is a method of making economic decisions that allows individuals and firms to…

A: In an economy, differ forms of markets are operated under different economic or market system.

Q: Explain what is meant by market failure and   outline the sources of market failure.

A: Market failures can be corrected by allowing competitive producers in the market and consumers as…

Q: From Adam Smith's Wealth of Nation , What are the three key roles that government should fill in…

A: The father of economics, Adam Smith published his famous book "An Enquiry into the Nature and Causes…

Q: Explain briefly why the people and firms operating within a command economy would in all cases be…

A: A command economy refers to when the resources are owned and managed by the government. In this,…

Q: What are the characteristics of law

A: Law affects and protects the social, political, cultural and economic areas and values of the…

Q: What are examples of distributive and integrative negotiation?

A: Integrative negotiation is a strategy in economics that seeks to create mutually beneficial outcomes…

Q: Name a type of market failure and explain why this market failure results in economic…

A: Market failure, in economic aspects, is what is happening characterized by a wasteful conveyance of…

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: Which is a more serious problem between market failure and government failure?

A: Government intervention to resolve market failures, and to manage the macroeconomy, can fail to…

Q: How do the political system,the economic system and geography of a country affect social behavior.

A: Social behaviour will be behaviour among at least two organic entities inside similar species and…

Q: How about business and industry, do they have too much power or too little power?

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

Q: In general, what are some of the tactics the government uses to correct market failure? List 3 and…

A: Since you have asked multiple questions, we will answer only the first one for you. If you want the…

Q: Why are some many countries adopting the western governance systems similar to those found in the…

A: Governance system refers to the system of the government that exists in the country.

Q: all the three models (Ricardian, Specific Factors and Heckscher-Ohlin) discuss how trade is always…

A: Autarky is a situation in which the economy is closed, that is no foreign trade. The David Ricardo…

Q: In which type of economy does only the government make economic decisions?

A: The economy in which the only government make or take the economics decisions are the  CENTRALLY…

Q: Why couldn't an economy function without government intervention?

A: An economy needs government intervention for some specfiic purposes because there are various types…

Q: Describe the major characteristicsof capitalism, socialism, and mixedeconomic systems.

A: Economic system refers to the framework under which the economy of the nation operates. Different…

Q: Why do you think that command economies .3 ?constrain economic freedom

A: The economic system refers to the economic mechanism based on which an economy runs and perform all…

Q: What are core ideas behind less government/free market governance?

A: The free market is a supply-and-demand business mechanism with little to no government interference.…

Q: List the characteristics of the four different types of market structures and give an example of…

A: Answer: Market structure can be divided majorly into four categories, it includes, perfect market,…

Q: liberal theory look at the ralationship between state, civil society and market ?

A: The theory of liberalism gave prominence to the concept of individual freedom consent. The idea of…

Q: privatization

A: Privatization often improves the efficiency of the firms. The main reason behind this is when the…

Q: What aspects & principles characteristic of non-market systems are important in our market economy?

A: A non-market system is an administered price system in which the prices of properties are set by an…

Q: Discuss the differences between capitalist and command economy.

A: Economy: It refers to the system of organizing money, industry, and trade of a country or region.

Q: Based upon those notions of self-interest and public interest and the bringing of both into harmony,…

A: The market economy is one in which the forces of supply and demand determine market price and…

Q: Which of these economic systems have the most in common? A Free-enterprise economy and market…

A: This can be described as a form of market in which no single producer or consumer has the power to…

Q: What are the two types of market failure and how are they corrected? Why doesn't the market self-…

A: Market failure is when the demand and supply of goods and services in an economy fails to produce…

Q: How did sectarian violence influence the shaping of some parts of the West?

A: The sectarian violence is also known as the sectarian strife and this was inspired from the…

Q: How can looting of Shops undermine the capitalistic economic system in the private ownership of the…

A: Capitalism is a monetary framework where private people or companies own capital products - for…

Q: Which is a better approach to management in a free market economy?

A: Supply and demand are the foundation of the free market, which has little to no governmental…