Is a planned economy just the same as a large MNC in allocating the means of production?

Q: Give a well explained answer. What's the benefit of expenditure on R&D in an economy.

A: Research and development, or R&D, is the process of discovering and developing novel ideas,…

Q: nti

A: Technological progress refers to the discovery of improved and new methods for production of goods.

Q: In the Specific Factors Model, assume that in Country A, "wheat" is produced by using land and…

A: In the specific factor model, the inputs can be classified as mobile and immobile factors. The…

Q: What are the components of economic growth? How does PPF is used to depict the economic growth of a…

A: Economic growth portrays an expansion in the amount and nature of the economic labor and products…

Q: What is the relationship between innovation and economic development? Explain in detail in micro and…

A: The relationship between Innovation and Economic development can be explained as follows :  Due to…

Q: Some resource-rich countries have succeeded in converting resource wealth into longterm and…

A: Economic development refers to the sustained, long-term growth of an economy, usually accompanied by…

Q: Why is it that an agricultural economy like India is rich but the average Indian is poor? Answer…

A: The following problem has been solved as follows:

Q: n the short term and with almost full employment, it is most realistic to increase GDP / per capita…

A: The original definition of full employment is a situation in which everybody wanting to work for the…

Q: A service-based economy is less likely to be a source of prosperity than a goods-based economy. true…

A: The issue and claim, "A service-based economy is less likely to be a source of prosperity than a…

Q: Describe the four measures taken for investment?

A: Investment refers to the addition or acquisition of assets with the goal of making income or profit.

Q: Define Closed and Open Economies, Explain the circular flow of income and expenditure in Closed…

A: An economy is said to be closed or open based on the area of trading goods and services that are…

Q: Refer to the figure below and assume that the values for points a, b, and c(the combined value of…

A: A production possibility frontier depicts the combination of two goods that can be produced by using…

Q: class we argued that if people could accumulate human as well as physical capital, the production…

A: * Answer :-

Q: Why Capital does not Flow from Rich to Emerging Countries? We assume that the production function in…

A: The marginal product of capital refers to the additional output or production that is gained by…

Q: Three sector economy and four sector economy?

A: Circular Flow of Income: It refers to the cycle of generation of income in the production process,…