The economic system where all the industries are owned by the government is called as ______________. a. Mixed economy b. Capitalist economy c. Command economy d. Economic system
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- _______ A system where individuals own and operate themajority of businessesChoose correct one.Imagine that you own your business. It does not need to be the same as in other questions, youare allowed to pick a different firm or product.a.Think about your production process. Please explain the technology that youuse in the production process.b.How do you think the technology that you use, affects the market structureand/or the demand of your product? Note that this question is NOT about howtechnology affects your production process, therefore, NOT about productivity, NOTabout the cost structure.
- What is the purpose of an economic system? Select all that apply. Multiple answers: Multiple answers are accepted for this question Selected answers will be automatically saved. For keyboard navigation... SHOW MORE a b C To make choices about what to produce. e To make as much profit as possible. To make choices about how to produce the goods and services chosen. d To make choices about for whom to produce the goods and services. To make choices about when to produce the goods and services.How do markets operate to bring product into existence? How does that relationship affect supply and demand for the various markets involved? In what ways has the change in supply and demand affected the market? What enabled the many participants in the production of this product to cooperate, and how has this affected the production of the product?The three economic questions that every society must answer are OA. What are the prices of goods, how are they determined, and who will pay for them? OB. What economic system will be used, how will it be implemented, and who will make market decisions? OC. What goods will be produced, how will they be produced, and who will receive the goods? OD. What kind of government will the society have, how will it be run, and who will run it? Centrally planned economies allocate resources based on decisions by while market economies answer these questions through decisions made by
- The Norway spruce trees that are grown in Christmas tree farms are considered? A. Land B. Capital C. Entrepreneurial ability D. LaborQUESTION 1 Choose the most correct answer to the following questions/phrases. Only write down the question number and the letter of your answer. 1.1 economy. (1) 1.1.1 Communism and Socialism are both examples of a A Planned Market C Mixed Open 1.1.2 In a economy various aspects of production are determined by supply and demand. (1) Planned Market Mixed Оpen 1.1.3 An unfair and unethical phenomenon that does not occur in planned economies. (1) Social grants Over-development B. Monopolies Unemployment benefits 1.1.4 In a economy consumer demand is predictable and controllable. (1) A Planned B. Market Mixed Open 1.1.5 The flow of goods, services and knowledge over international borders. (1) Expansion B. Globalisation Free flow D. Customs [5]Identify the TRUE statement that describes capitalism, command or mixed economies. a. Scarcity of resources are only found in some economies in the world O b. Economic system resolves central problems of an economy Production possibilities does not solve the problem of what to produce O d. All of these
- Recent years have seen the introduction of Uber and Lyft, which enable customers to find a ride using an app on their smartphone. In many cities, the two services undercut traditional taxi fares, leading to phenomenal growth. Uber and Lyft are best described as the a. marketing concept. b. sharing economy economic model. c. environmental marketing model. d. customer lifetime value model. e. sustainable marketing model.In economics, an organization that produces a good or service is called a company. firm. business. All of the above are correct.A business normally produces and sells as much as demand allows. However, sometimes is constrained by some limiting factors. And if the business makes more than one product. What are the limiting factors and how does the business determine the profit-maximizing production mix?