Exploration and the discovery of new places led Europeans to colonize these areas. How is this related to the economic ideas of supply and demand? Europeans took control of the areas that had the raw materials they needed. The population of the colonized areas increased as a result of European contact. A barter system developed between Europeans and the new areas. The Europeans supplied the agricultural products the new areas needed.

Q: Trading has little to do with the economy. True or false

A: Condition of an economy depends on various factors. One of the important factors is Trading. Trading…

Q: Use the drop down menu to complete each statement. The goal of economic foreign policy is to manage…

A: Macroeconomics is a part of economics that deals with production, decision and allocation concerning…

Q: market. North Korea, Cuba- United States- Germany, Franc

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Q: If bribery is common in a particular country, what effect will it have on the nations economy and…

A: Bribery: It means the act of offering money or any valuable thing for persuading them to do…

Q: The European Union has positively affected the economies of Europe by

A: European Union adopt various economic reform for overall growth of euro zone.

Q: I will not buy my coffee from “XYZ” Company because of their use of children in production. This…

A: The consumerism described is called:Answer: d. Positive Buying

Q: can fair trade or other types of ethical consumerism make a big difference for the global South…

A: Fairtrade is the international body that is developed to help the producers of the countries and…

Q: Country A would have an absolute advantage compared to Country B in the production of corn if Group…

A: Absolute advantage is when one country can produce a good with using less resources as compared to…

Q: How has the medium of exchange evolved?

A: Money- a medium of exchange used in transactions made for good & services. It reduces double…

Q: Identify the business and economic implications of differences in culture.

A: Cultural differences are the differences in beliefs, culture, language, decisions, and various other…

Q: The United States can be considered to be a good example of a(n): O agrarian economy mixed economy…

A: Four major classifications of economic system are; traditional agrarian economy, market economy,…

Q: Do you believe that American consumers should boycott goods made by exploited workers in Less…

A: No the American consumers should not boycott goods made by exploited workers in less developed…

Q: What is the relevance of studying economics in the course of customs administration?

A: The subject of economic deals  with however society makes use of its restricted resources. economic…

Q: In which sector (s) or industries does United Kingdom specialises in?

A: A group of suppliers or companies who create a certain type of product or service is referred to as…

Q: Which of the following characteristic is least compatible with mercantilism economic policies? A.…

A: What is Mercantilism Mercantilism is an economic policy whereby a nation concentrates to increase…

Q: European Union (EU) was founded when, geographic location, and purpose for founding.

A: The union that is depicted to be an economic, as well as political union of twenty-seven member…

Q: In a Pure free-market, if you have nothing to trade or barter with, will the government will assist…

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Q: Microeconomics is the study of:     The gains from trade since we can only consume what we produce…

A: Micro economics facilitates easy understanding of our economic system.

Q: Compare the advantages and disadvantages of various modes of entering foreign markets.

A: When a domestic organization wishes to do foreign business, the best form of entry must be…

Q: what are the pitfalls of the organization NAFTA?

A: NAFTA is an acronym for North American free trade agreement signed by Canada, Mexico and U.S. which…

Q: What are the demand management policies that have been taken by the Indian Government.

A: Demand management is a detailed plan for forecasting, planning, and managing product and service…

Q: Name 2 aims of a government owned postal service.

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Q: Trade makes both consumers and producers better off. Explain this in detail with all appropriate…

A: Trade refers to the exchange of goods, services, or assets between individuals, businesses, or…

Q: why is it important to learn the criticism of global city?

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Q: Use the following information to answer the next question. The following items describe the…

A: Discouraged unemployment occurs when a person fails to find suitable job after searching for it,…

Q: OFair use is defined in Section 107 of U.S. copyright law. It includes four factors designed to…

A: Fair use is any replicating of copyrighted material accomplished for a restricted and…

Q: How do the mercantilist’s view on trade differ from those of Adam Smith? b) How did Adam Smith…

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Q: how did the Church regulate market activity in the federal era?

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Q: Which of the following statements describes Principle 6: Markets are usually a good way to organize…

A: A market refers to the platform or a place for the people to interact with each other for making an…

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: Why people support in illegal trade is a lucrative form of business?

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Q: What are benefits of IKEA expanding to the Indian market?

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Q: As trading takes place, trading partners become independent interdependent allies sworn enemies

A: Trading: The economic activity which includes buying and selling of goods and services between…

Q: Food laws and regulations are globally standardized yet each country has their own laws. Why do you…

A: Government uses fiscal policy to increase employment by increasing aggregate demand and reserve Bank…