Which two characteristics best describes a mixed economy? O A. Domestic trade and international trade O B. Business profits and consumer choice O C Efficient product and low investment D. Government control and economic freedom

Q: An economic system that relies upon some central authority to make economic decisions would be O a.…

A: In a command system,a central government plans, then organizes and in turn controls all of the…

Q: One region has an absolute advantage over another region in the production of good X when... a. The…

A: The opportunity cost of one unit of X is lower in the first region than in the second region. This…

Q: How much of good Z will be consumed in country G? Q4 Q5 Q6

A: With price in country F is lower than country G, country G is net import of the good at lower…

Q: Economic Free Freedom Enterprise Private Property Competition Rights Which of the following terms…

A: A market economy is a system where the laws for demand and supply tend to direct the production of…

Q: Suppose that Country A and Country B have unit labour requirements for producing one tonne of steel…

A: Comparative advantage: Let's say there are two countries A and B, each producing two goods X and Y…

Q: 19. If production of specific goods exhibit the opportunity for economies of scale (Oil for…

A: The per unit cost of production is average cost(AC).The firm is said to be experiencing…

Q: the most important use for cattle in the new world was? a. for Transportation b. for food c. for…

A: The new world is the majority area of the earth that belongs to the Western Hemisphere and is mainly…

Q: any point under the production possibility frontier represent. O unemployment O inflation O growth O…

A: Production possibility frontier represents various points of production that are possible to produce…

Q: If two persons are trading in two different categories, he would get best output from one and a…

A: Trade refers to a core economic concept that is basically the buying and selling of commodities and…

Q: The graphs below show the production possibilities frontiers for sugar and corn in South Africa and…

A: (a) The production possibility curve depicts the combination of two goods that a nation can produce…

Q: 6. According to Ricardo, a country will have a comparative advantage in: Industries in which there…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Figure 3-4 Refer to Figure 3-4. If point A represents Alice's current production and point B…

A: The PPF is also referred to as the production possibility curve (PPC). It is a key economic concept…

Q: 2.  In the USA 1 unit of labor can produce 50 cars while in Canada 1 unit of labor can produce 5…

A: Comparative Advantage: In the trade theory the country which have comparative advantage in producing…

Q: Suppose Italy can make either 1000 statues or 700 bottles of wine. Suppose the US can make either…

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…

Q: 1. Production Possibilities It has been determined that Germany and France can produce the following…

A: Production Possibility Frontier  The graph is known as the Production Possibilities Frontier (PPF)…

Q: A country that has advantage in production of a good should in production of this good. а. absolute…

A: The theory of absolute advantage and comparative advantage in international trade explain how two…

Q: Differentiate absolute advantage from comparative advantage.  Explain how a country should…

A: a. Absolute advantage Vs Comparative advantage 1. Absolute advantage relates to a country's or…

Q: What economic theory suggests that countries should specialize in the production of goods and…

A: The problem is to find the particular economic theory that believes through the countries producing…

Q: Use the following table to answer this question. The table contains the amount of wheat and shoes…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: A worker in Mexico takes 600 hours to produce a truck and 3 hours to produce a case of beer. A…

A: In the international market, a country will have specialization in a specific good when it produces…

Q: How can specialization result in greater voluntary exchange between countries? O A. Specialization…

A: Specialization refers to a country's propensity to specialise in such items that it trades for other…

Q: c. Compare the agricultural employment share and agricultural labor productivity, both the level and…

A: This question asked us to compare the agricultural employment share and agricultural labor…

Q: A worker in country A can produce either 5 computers or 45 tons of rice, while a worker in country B…

A: As we answer 3 subparts, and the question has more than three subparts, we would be answering the…

Q: What has been the impact of technology and the Internet on global culture? Select one: O a. The…

A: Technology is the set of skills, processes, methods, and activities that are used in producing…

Q: Which of the following is NOT a benefit from trade? O a. the ability to specialize O b. an increase…

A: Trade benefits nations by enhancing specialization, offering diverse products, lowering prices…

Q: If one country can produce a good with fewer resources than another country, this is calleda.…

A: Specialization:- Specialization is a manufacturing approach in which an organization pay more…

Q: Which of the following is true about BRIC countries: O a. There is low prospects of growth O b. To…

A: BRICS is an abbreviation for the strong gathering of the world's driving developing business sector…

Q: Which of the folowing examples explains how the United States is a Mixed Economy? O A. Most…

A: A mixed economy is one that has the elements of both a socialist as well as a capitalist economy. It…

Q: wered For each fancy dress Cafilla produces, it gives up the opportunity to make 50 pounds of…

A: Under trade, each person or country specializes in the good it has a comparative advantage in.

Q: The figure above shows the production possibilities frontier for a country. In order for it to move…

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

Q: According to David Ricardo, A. If countries specialize where they have a comparative advantage and…

A: Opportunity cost refers to the value of the next best alternative that must be given up in order to…

Q: i. Economic growth takes place ii. The production technique for producing good Y remains the same…

A: Opportunity cost is the value of the next best option that must be traded up when a choice is taken.…

Q: 7. What is the law of comparative advantage? According to the law of comparative advantage, what…

A: 1. The law of comparative advantage states that nations should specialize in producing goods and…

Q: In free trade a country will not trade if A. Autarky prices and free trade prices are the same. B.…

A: "Since you have asked multiple questions, we will answer only first question for you. If you have…

Q: Which is NOT TRUE regarding the diffusion of the printing press and printed books in Europe? O It…

A: The diffusion of the printing press and printed books in Europe refers to the spread and adoption of…