According to Adam Smith who should manage the economy for the nation? Why?

Q: How does the global economy affect organizations and processes?

A: By the global economy one can refer it as the process by which people, and one's culture, money,…

Q: Why is the world growing so rapidly?

A: A distinct group of individuals belonging to a certain group or nation is referred to as a…

Q: why being poor is expensive? expand

A: The economics as an area of study deals with the use of resources in the economy, or society. The…

Q: In your own words explain how the world's economy work.

A: World economy is aggregation of all economies across the world. The globalization is key factor…

Q: The branch of economics that looks at the operation of a nation's economy as a whole

A: Economics is a broad subject. Microeconomics and macroeconomics are the two important branches of…

Q: What does the Third World country mean to the subjects of Economics?

A: In economics developing countries are known as third world country.

Q: Why do people or countries specialize?

A: Reasons for specialization or why countries or people specialize: ·         With the help of…

Q: What type of economy does China has

A: An economy is a place where products and services are produced, distributed, traded, and consumed.…

Q: Explain why people would prefer to live in a socialist or a capitalist country?

A: Under capitalism, means of production are owned by private individuals, and decisions about…

Q: Why does economy exist in the world?

A: Economics is the study of household management and the activities related to the business or firm in…

Q: 2. You have 3 hours of free time. And you can think of 3 different uses of your time: 1) watching…

A: Opportunity cost: It is the value of the next best alternative that is forgone.

Q: kinds of economy?

A: 1. Haiti is a Market Economy in which the forces of demand and supply regulate the market.  2. China…

Q: What are the 3 Econ Questions? How are the three economic 2 x Challenges/Disadvantages questions…

A: Every society around the world deal with providing goods and services for their people. The…

Q: why do individual producers or nations have to choose the type, quality, and quantity of what they…

A: The resources of production are limited in amount so the individual, producers or nations have to…

Q: Is economic is one of the most important thing in the world

A: Economics: Economics is the sociology that reviews how individuals communicate with esteem;…

Q: Can we transform transform a country that has been built and comfortable with a secular economic…

A: The financial system is critical to a country's economic progress because it connects those who save…

Q: What goods and services—and how much of each—will be produced?

A: In a nutshell, an economy must distribute its resources and pick between several possible bundles of…

Q: Which economic system does a better job improving living conditions for the poor, capitalism or…

A: The system through which governments or society organizes and distributes the availability of…

Q: Which economic system works best for societies?

A: An economic system is a system that determines the production and distribution of goods and…

Q: As you read about global economics, complete the chart by filling in the cause or effect

A: Simply said, globalization is the linking of various regions of the globe.Globalization is described…

Q: how the global economy works

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: How do the major economic systems differ?

A: An economic system is defined as the means by which the society organizes and distributes its…

Q: What is the best economic system?

A: Capitalism is an economic system in which the production and distribution are privately owned, the…

Q: Name three aspects that affect the global economy.

A: Globalization affects economic resources such as commodities, services, data, technology, and…

Q: How do countries know if their economic systems areworking?

A: An economic system is a method by which governments organize and distribute resources, services, and…

Q: what is the global and regional economy?

A: Economics as a subject was developed since there was a limited amount of resources on earth.…

Q: What are the best institutions for achieving economic goals?

A: An institution is a social structure in which people tend to cooperate and also influencing the…

Q: How many sectors of economy are there?

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

Q: Examine the different economic systems in a country, using examples.

A: India in 1991, due to her import substitution and heavy reliance on state led to deplete her foreign…

Q: How population affects the entire economy?

A: Economy refers to the management of the household activities along with the management of market…