what type of economy do people work for about to hours then spend the rest of their time drinking tea and playing cards

Q: Discuss "free market economy" using definition, characteristics, advantages and disadvantages

A: Free market is market where economic decisionwhat to produce, how to produce and for whom to produce…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: The answer provided is on the lines of given paragraph .

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: Free trade Free Trade occurs when the government does not impose any artificial obstacles to impede…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: The trade of goods and services increases over time with the development of technology in the…

Q: If two economies are identical, except the savings rate in one economy is higher, explain why we…

A: Savings play a huge role at the individual as well as national level. When the rate of savings is…

Q: Sultanate of Oman is classified under which economic system? a. Mixed economy b. Communist economy…

A: Sultanate of Oman is a city located on the southeastern coast of the Arabian Peninsula that has…

Q: According to the principle of  ___________ a society’s economic system molds the society’s legal…

A: Research across disciplines indicates that cultures ultimately shape our thought habits across…

Q: give and explain in details eight (08) new economic policies suggestions to the Government of…

A: Over the last two decades, Pakistan's economy has grown modestly. Annual per capita growth has…

Q: Which of the following answer is correct ? Factor of production: getting a loan through a local…

A: The inputs which are needed to produce a good or a service are known as factors of production. They…

Q: why it is less likely to people to migrate from urban to rural?

A: Migration is an economic process where people move from a city/place to another in search of better…

Q: There are different components that make up a society. It includes all the following, except: a.…

A: A society is group of people living together following set of rules or beliefs

Q: According to Adam Smith, the butcher, the baker, and the brewer do what they do because of…

A: Adam Smith economic theory: Adam Smith is a philosopher who has given a theory that market tends to…

Q: Explain how do the following events affect the emergence of globalization and interconnections among…

A: Globalization refers to the concept wherein the countries open their domestic economies to all the…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: The trade enables the country to consume variety of goods and services. It increase the consumer…

Q: Paraphrase the following. 1. We can take drastic action now to ensure that we prevent a future where…

A: 1. We can make an intense move currently to guarantee that we forestall a future where super…

Q: Imagine a graph showing production possibilities. What does an outward shift of the production…

A: The PPC (production possibility curve) demonstrates the trade-off faced by the economy producing two…

Q: The most important determinant of a country's standard of living is     A.) Labor supply     B.)…

A: Standard of living refers to the accessibility of quality goods and services to the people living in…

Q: SHORT ANSWER Workers on the manufacturing floor are being replaced by robots. For the U.S. economy…

A: The technological advancements are considered to be an integral part of growth, and development of…

Q: Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount…

A: Here is the solution,

Q: What is economic system

A: An economic system is a method by which  governments or societies sort out and disperse accessible…

Q: Once people could only trade what they could produce with their hands or find in nature for things…

A: The three fundamental problems of any individual or economy is wants are unlimited, resources to…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: Answer below is given on the lines of above paragraph .

Q: Reading Comprehension Producers and consumers Once people could only trade what they could produce…

A: The measures that are required to reduce the negative impact of free trade include setting minimum…

Q: Once people could only trade what they could produce with their hands or find in nature for things…

A: Consumers make consumption decisions and buy goods and services. Producers decide how much to…

Q: Explain why Karl Marx said that even if the wage increases, it will still go back to its subsistence…

A: Subsistence wages are the wages that enable a worker to fulfill his or her basic needs. Subsistence…

Q: Reading Comprehension Producers and consumers Once people could only trade what they could produce…

A: Giving subsidies to smaller, local suppliers is one of the regulations that may help to reduce the…

Q: Which economic system do you think is better in answering the following basic economic questions: a.…

A: An economic system is a method by which social orders or governments distribute and organize…

Q: Where is the UAE on the World’s Richest Countries list? a) What is he GDP and GDP per capita of the…

A: Hi! Thank you for the question, as per the honour code, we are allowed to answer three sub-parts at…

Q: Suppose you are watching a news report with a friend. The news report points out that a certain…

A: The GDP per capita is measured by dividing the Real GDP of the country by the total population. The…

Q: Explain the concept of the invisible hand that was created by Adam Smith.

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: While both India and China have grown tremendously over the last few decades, China appears to have…

A: To keep up with China's expansion, India will have to undertake numerous adjustments to its…

Q: The government tells your factory that it has a five-year plan to make iron   1. What kind of…

A: Economics systems in broad have been categorized into three types:- Capitalist economy: It is an…

Q: Which of the following is not an “acronym” economy?

A: An acronym is a word shaped by contracting an expression by joining specific letters of words in the…

Q: discuss the different types of economies and how each one of them operates. discuss advantages and…

A: There are different types of economies practiced across different countries.

Q: Goods made by people in the past and now is used to produce other goods and services is called, a.…

A: In an economy, different types of capital is needed by the organizations during the production…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: In an economy, large companies are those that holds a significant market share and have the market…

Q: Why do Urban populations are capital accumulating whereas rural populations are capital consuming?

A: There are business cycles which have to be known by the business groups all around the world.…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: The producers are the persons which would be engaged with the production of a good or a service. The…

Q: Reading Comprehension : Read the text and answer the questions below.   Producers and consumers…

A: Shoppers do always have the option to choose the goods or services that fit best for them. Since…

Q: Explain how households and firms interact in the factor market and in the product market

A: Market: It is an arrangement between buyers and sellers for exchanging goods and services for money.…

Q: The population of Tatoonia is very small. Luis works full-time for pay. Robin works one shift a week…

A: a.Each person would be classified on the basis of demography,culture,influence behavior…

Q: Explain how a mixed economy differs from both a planned and a free market enterprise economy and…

A: Planned economy is that economy which is controlled by the government or any legal authorities on…