In Economics, "______________________ is the sum total of skills embodied within an individual: education, intelligence, charisma, creativity, work experience, entrepreneurial vigor, and even the ability to throw abaseball fast." Which of the below correctly fills the blank at the start of the above quote? Group of answer choices Productivity Capitalism Human capital Socialism

In Economics, "______________________ is the sum total of skills embodied within an individual: education, intelligence, charisma, creativity, work experience, entrepreneurial vigor, and even the ability to throw abaseball fast." Which of the below correctly fills the blank at the start of the above quote? Group of answer choices Productivity Capitalism Human capital Socialism

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Present your understanding of the ‘Circular Flow’ , by describing the role each of the five main…

A: ‘Circular Flow’ Lets understand this concept with an example:- In this circular flow model there…

Q: Who first developed the theory that the size of the market would encourage specialization and lead…

A: Specialisation and higher productivity principle was introduced by classical economists.

Q: which economic system did Ayn Rand claim was the best to support her theory? a. socialism b.…

A: Aye Rand was a writer and philosopher. She was born in Russia.

Q: A good economic theory …. Group of answer choices captures the essence of the economic concepts…

A: The study of economics represents the allocation of scarce resources in such a way that there should…

Q: Give typing answer with explanation and conclusion A country can produce 38 quail eggs and 62…

A: Opportunity cost refers to the loss which is incurred when next best alternative is given up. In…

Q: 12. Which of the following does not use the fee-for-service revenue models? A. online games B.…

A: Fee-for-service revenue model is when a supplier supplies his service to the people and get revenue…

Q: POSSIBLE mples: Choose the best example for each type of Economic System. Economic Spectrum Command…

A: Command economy: - a command economy is a controlled economy where all economic decisions are taken…

Q: Question 20 (1 point) When the price of a good in a market is above equilibrium:

A: Q1) when price is above equilibrium then this is situation of surplus where quantity supplied…

Q: In what ways is economic science similar to the natural sciences? In what ways is it different? What…

A: Economics is unique compared to other academic disciplines in that it is more theoretical than other…

Q: Which of the following choices is not part of capitalism? O free enterprise O private ownership of…

A: Capitalism is an economic and political system in which the ownership of the private enterprise is…

Q: In your own words, explain the concept of the “invisible hand” as it relates to economic theory. Why…

A: In this ,the entrepreneurs are the self interested individuals who are interested in making certain…

Q: Socialism (Command еconomy) Modern Russia Country of your citizenship

Q: tatement ociety should reduce pollution at all costs. reduction in the rate of money growth will…

A: Normative economics is the school of thought which believes that economics is the subject of…

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: Identify each of the following quotes as being associated with either the concept of the invisible…

A: Concept of Invisible hands given by Adam Smith which emphasises that individuals pursuing their…

Q: What are some of the opportunity costs if you were in college and majored in Business Administration…

A: The opportunity cost is the benefit foregone by not choosing the next best alternative in which a…

Q: Based on Keynesian economic theory, which of the following will occur if the Central Bank increases…

A: According to keynesian theory,when money supply increases;investment demand increases and real…

Q: The Core Principles of Economics-End of Chapter Problem Jade has midterms in economics and astronomy…

A: The production possibilities frontier (PPF), also known as the production possibilities curve, is a…

Q: what are the 3 major goals of macroeconomics

A: Macroeconomics study the behavior of the economy of a country as a whole. Macroeconomics focus on…

Q: In what type of economic system are the basic economic questions answered in the same way as in the…

A: A society's allocation of resources for the production, distribution, and consumption of products…

Q: What does the invisible hand concept, introduced by Adam Smith, refer to in economics? A. The role…

A: The concept of the "invisible hand" is a principal theory in economics, first introduced by the…

Q: Which of the following best describes Globalization? A shirt was made in Columbia but the cotton was…

A: Globalization is not good for domestic company because multinational companies product are…

Question

Which of the below correctly fills the blank at the start of the above quote?

Group of answer choices

Productivity

Capitalism

Human capital

Socialism

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Question: How do different economic systems (e.g.. capitalism, socialism) allocate resources? Don't usechatgpt please provide valuable answer otherwise be ready for disupvote
What are two people's places or events that fit the statement; “The economic changes brought about by the Industrial Revolution reshaped social classes and led to increased class tension.”
Oman Vision 2040 is considered one of the economic programs that played an important role in economic development, and the Gulf countries have different economic programs: Through this idea, the student must do the following: 1- The student has the right to select any of the Gulf countries’ programs for economic development. 2- The student must show the impact of the economic program on various sectors in the country. 3- The student must discuss the impact of the program on the standard of living in the country.
Read the material below and answer the question. Baten (ed.), A History of the World Economy: 1500 to the presentChapter 5: "Japan" by Osamu Saito Q: What explains Japan's economic success since 1868?
Q.1. Are the following statements true, false or uncertain? Briefly explain your answers. a) "The Mercantilists believed that wealth originated from land, and economic policy should focus on encouraging agriculture."
Question 1: In short, how is it that Nations Prosper according to Adam Smith?
Which of the following can best be characterized as a subject of microeconomics? O an examination of an economy's price level an examination of monetary policy an examination of a country's economic growth an examination of consumer behavior +
Which of the following exemplifies a microeconomic question? Multiple Choice What is the current national rate of unemployment? Is the economy experiencing a decline in the rate of inflation? Will a new type of electronic reader or tablet increase the number of buyers? Is the aggregate output in the economy greater this year than last year?
"Innovation by the Entrepreneur" argued Schumpeter, leads to gales of "creative destruction" as innovations cause old inventories, ideas, technologies, skills, and equipment to become obsolete. The question is not "how capitalism administers existing structures,…[but] how it creates and destroys them." This creative destruction, he believed, causes continuous progress and improves the standards of living for everyone." Joseph Alois Schumpeter, 1883-1950Links to an external site. In terms a little more modern than Shumpater's, Dr. Abhijeett Desai explains that the predominant form of innovation can look disruptive, but is, in fact, transformational innovation. Explore Dr. Desai's thinking in Transformative Innovations vs. Disruptive InnovationLinks to an external site..
Which of the following statements is normative? a. Printing too much money causes inflation b. Gas prices should be fair c. The employment rate should be lower d. People work harder if the wage is higher
Specialization is deciding who can make decisions. True False
You are speaking with a friend from a country in sub-Saharan Africa and he remarks that, to him, it seems like the Western world is purposefully keeping countries in the global south poor. Regardless of whether or not you agree, what is something from this course that you could tell your friend to look into to further explore this possibility?