EBK UNDERSTANDING BUSINESS
12th Edition
ISBN: 8220106844298
Author: Nickels
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 4DCS
Summary Introduction
To discuss: The type of U.S economy.
Introduction:
Economics is the term used for the study of production, distribution and consumption of resources.
Mixed economy is scene in almost all countries where, countries with capitalist economies are moving towards socialist economies and countries with socialist economies are moving towards capitalist economies.
Capitalist economy is a type of economy where the markets are free and economic decisions are taken by the market forces.
Socialist economy is a type of economy where the major businesses and public utilities are operated by the government.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Answer these questions from the video link
https://youtu.be/6G0Zgthvhlg
1/Why there is a need for organizations like Opportunity International ?
2/How does the free market work? What are the advantages and disadvantages of free markets ?
3/ Make a comparison of the key economic systems.
7. "We are fast approaching the stage of the ultimate inversion: the stage where the
government is free to do anything it pleases, while the citizens may act only by
permission."
Ayn Rand
ANALYZE AND LINK THIS TO ANY THEORY IN
ECONOMICS
The new US-Mexico-Canada Agreement (USMCA) ends free trade in cars and auto parts. Some foreign automakers might eventually move back to the USA if there is no cost advantage of manufacturing cars in the U.S.
Discuss whether the United States will be better or worse off in the long run as a result of this trade deal. You should incorporate the following as part of your analysis...
1. consumers
2. Auto-workers
3. Trade deficit
Chapter 2 Solutions
EBK UNDERSTANDING BUSINESS
Ch. 2.1 - Prob. 2.1AQCh. 2.1 - Prob. 2.1BQCh. 2.1 - Prob. 2.1CQCh. 2.1 - Prob. 1TPCh. 2.1 - Prob. 2TPCh. 2.1 - Prob. 3TPCh. 2.2 - Prob. 2.2AQCh. 2.2 - Prob. 2.2BQCh. 2.2 - Prob. 1MEDCh. 2.2 - Prob. 4TP
Ch. 2.2 - Prob. 5TPCh. 2.2 - Prob. 6TPCh. 2.2 - Prob. 7TPCh. 2.3 - Prob. 2.3AQCh. 2.3 - Prob. 2.3BQCh. 2.4 - Prob. 8TPCh. 2.4 - Prob. 9TPCh. 2.4 - Prob. 10TPCh. 2.4 - Prob. 11TPCh. 2.5 - Prob. 2.5AQCh. 2.6 - Prob. 2.6AQCh. 2.6 - Prob. 12TPCh. 2.6 - Prob. 13TPCh. 2.6 - Prob. 14TPCh. 2.6 - Prob. 15TPCh. 2 - Prob. 1CECh. 2 - Prob. 2CECh. 2 - Prob. 3CECh. 2 - Prob. 4CECh. 2 - Prob. 1CTCh. 2 - Prob. 2CTCh. 2 - Prob. 3CTCh. 2 - Prob. 1DCSCh. 2 - Prob. 2DCSCh. 2 - Prob. 3DCSCh. 2 - Prob. 4DCSCh. 2 - Prob. 5DCSCh. 2 - Prob. 1PPTCh. 2 - Prob. 2PPTCh. 2 - Prob. 3PPTCh. 2 - Prob. 4PPTCh. 2 - Prob. 1VCCh. 2 - Prob. 2VCCh. 2 - Prob. 3VC
Knowledge Booster
Similar questions
- According to Rosabeth Moss Kantor of the Harvard Business School, which three events of the 1980s paved the way for the global economy?arrow_forward1. A scientist invented the Covid-19 vaccine. Do you think there are any external factors to this invention? Explain the type of external factors that can be generated in order for society to gain benefits or losses. Explain the types of political intervention that should be applied to accommodate external factorsarrow_forward1)Due to overcapacity in fishing in many countries, the fishing industry is characterized as "tragedy of the commons". Do you think this description is accurate in your view? Using theory, examine if the equilibrium outcome is economically efficient. Discussany good management policies to address the problem.arrow_forward
- 1. Complete the following questions: a) What are the factors that can influence a country’s standard of living? b) Do you think it is possible to achieve unlimited growth if a country had all the available factors of production? Why or why not? c) Do you agree or disagree with the assumption that greater capital expenditures hinder the growth rate of economic progress? Why or why not?arrow_forwardEach country is confronted with the fundamental economic problem of whicheconomic system to choose to solve their problems.a. Explain in your own words how a command economy works.b. If America had a command economy, would it have been possible forKevin Systrom and Mike Krieger to develop and sell Instagram? Providereasons for your answer.arrow_forwardNow consider the political, economic, and legal systems of China, India,and Brazil. Explain why you think one country might be more hospitableto Moots than the others.arrow_forward
- 3-Remember 1929 Big Depression. Today all the World seems to go through a big crisis… Compare Turkey and all over world economic situations after pandemics, increases in prices, crisis in production. And tell about your ideas where Turkey and world is going? Can it be a new Big Depression? What precautions shall governments take?arrow_forwardBased on your reading of the article “Corporate governance as a mechanism for the deterrence ofeconomic crimes in the Commonwealth Caribbean” by Ffolkes-Goldson, what is your view on the importance of corporate governance as a vehicle fordeveloping emerging economies?arrow_forwardCompare and contrast Chinas' political, economic, and legal systems with those of the United States. Discuss Chinas' distinct political, economic, and legal systems. Talk about the impact of these elements on economic development. To improve understanding and keep people interested, keep the conversation lively and realistic. To elicit more comprehension, be grounded rather than scholarly.arrow_forward
- 1.Mercantilism is a bankrupt theory that has no place in the modern world. Why? 2.Is free trade fair? Discuss!arrow_forwardPick one of Porter's Five Forces and describe its key attributes. Provide an example of when this force was particularly strong in a given situation Is the force you selected stronger or weaker in highly dynamic markets? Why? What effect can government regulation have on each of these forces in your own country?arrow_forwardDental care is a growing concern in emerging markets. Jeff's Toothbrushes is an American dental appliance company that is looking to expand internationally. It currently supplies several European and Asian countries an expanding line of dental care products, including toothbrushes, toothpaste, and mouthwashes. Hearing about this thing called global shift from the established Western to emerging economies, along with the growing purchasing power of the base of the pyramid, the CEO of the company has asked his senior executives to investigate the practicality of designing products for consumers in poorer regions of emerging markets; specifically, the company in looking at rural zones in Southeast Asia, notably India, as well as several sub-Saharan markets. On one side, several senior executives believe that if the company can develop a product line that effectively meets these customers' health and economic circumstances, it can look forward to accelerating sales growth.…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
Understanding Management (MindTap Course List)ManagementISBN:9781305502215Author:Richard L. Daft, Dorothy MarcicPublisher:Cengage Learning
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning