Why socio-economic issues the people’s top concern in an economy are?

Q: What is economy type does the United States have?

A: The U.S. is highly developed country and has a mixed economy. The U.S. economic system features…

Q: Why do business people study economics?

A: Demand for a good refers to the quantity of that good with the consumers are willing and able to…

Q: are needs that we learn during our lifetime. Multiple Choice Ethics Ideals Desires Wants Values

A: Individuals tend to have certain needs and want in order to live a life they tend to desire or wish…

Q: What is the rule of law?

A: It is a concept in which the law is something to be obeyed by everyone either the people or the…

Q: principles that describe how the economy as a whole works

A: Economy Economy is described as the area in which various amounts of consumption, production, and…

Q: Give an example of something that is an economic good for one person and a financial bad for someone…

A: Financial things are the ones that mainly focus on wealth and its maximization. Economic thing…

Q: What are three basic economic questions?

A: Economics is the subject that studies how to allocate the limited resource between the unlimited…

Q: Which type of economic system do you support? Why?

A: The mixed economic system, market economic system, and the command economic system are the three…

Q: How did economic change and urbanization affect family life?

A: Contrary to popular belief, urbanization is considered just as much a social as an economic…

Q: Choices that are the best for the society as a whole are choices in the pursuit of…

A: When everyone acts to maximize their own self-interest, social interest is maximized. So, when…