On the basis of your observations, which factors of production are scarce in your community? Give examples of each.   Explain why societies can or cannot satisfy all the wants of its people. Explain your answer and provide an example.   Do different societies require different amounts of societal resources? Explain your answer and provide an example.

Q: What does the Powerbar model tell us about how creativity fits into a market economy?

A: Ans-    Market power model means a broader market which existing rebranding bar.  It is constant…

Q: Which of the following is a positive statement? large inequality in society should be avoided…

A: There are two types of statements: Normative statement and positive statement.

Q: How do design, creativity, and innovation connect in our current environment?

A: Economic activities are incrasing in all over countries eithe developing or developed economy.…

Q: Write a positive statement and a normative statement about your favorite hobby.

A: Positive statements are those statements in which we can answer with 'yes' or 'no' replies, whereas,…

Q: What are some examples of a command economy? Market Economy?

A: In a command economy, macroeconomic and political contemplations decide resource allocation. Command…

Q: Select the statement that accurately describes traditional economies.…

A: The objective of the question is to identify the correct statement that accurately describes…

Q: Free Markets are a way of connecting people who may mutually benefit by exchanging goods and…

A: One local/global problem that can arise from an monetary policy entirely primarily based at the…

Q: In the US, we have a mixed economy. You can find severa examples of a market capitalist economy, a…

A: Economy refers to the system of production, distribution, and consumption of goods and services…

Q: In which framework for organizing the global economy does “the market (properly manipulated) stands…

A: Global economy: It refers to the economic system under which all the people are considered. The…

Q: Why do most economies in the world today operate somewhere in between a market economy and a command…

A: A free-market economy means the economy where the market is run by the forces of demand and supply.…

Q: Incentives such as tax breaks for fuel-efficient cars or the use of social stigma to discourage…

A: Tax breaks refer to reduction of tax rate for individuals or firms which reduces tax liability for…

Q: What are the main differences between a capitalist (market-based) and socialist (command) economic…

A: There are various types of economic systems depending on the degree of participation of public and…