Describe and answer in economic terms

Their essential feature is the coexistence of substantial private and public activity within a single economy.

The company pays the tax but can increase the cost of its products so consumers are actually paying the tax indirectly by paying more for the merchandise. The absolute value of "r" provides an indication of the strength of the relationship.

But the main one was the stock market bubble. Prices established by demand and supply in a free-market economy. The sum of the difference between the poverty line and actual income levels of all people living below that line. It has been described as expressing "the basic relationship between scarcity and choice ".

It is usually a part of the current budget. With perfect competition and Describe and answer in economic terms markets, countries tend to export goods in which they have a Comparative Advantage and hence make gains from trading Compound interest: Recognition of change in the economy c.

General-equilibrium theory studies various markets and their behaviour. Free trade in which goods can be imported and exported without any barriers in the forms of tariffs, quotas, or other restrictions.

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Wealth in the form of money or property owned by a person or business and human resources of economic value. The same factors are used to explain differences in the level of output per capita between countries, in particular why some countries grow faster than others, and whether countries converge at the same rates of growth.

Appreciation occurs when, because of a change in exchange rates; a unit of one currency buys more units of another currency. A country's terms of trade are said to improve when this ratio increases and to worsen when it decreases, that is, when import prices rise at a relatively faster rate than export prices the experience of most LDCs in recent decades.

Sometimes used synonymously with program budget.

Economics Questions and Answers

It is also sometimes defined to include better education, improved health and nutrition, conservation of natural resources, a cleaner environment, and a richer cultural life.

A short-term debt issued by a national government with a maximum maturity of one year. If the rate of depreciation for the old machineries is very high, then it would be economically feasible for the firm to buy new machineries. By construction, each point on the curve shows productive efficiency in maximizing output for given total inputs.

Summary — This section states your observations about the process. The central bank manages the money supply by raising and lowering the reserves banks are required to hold and the discount rate at which they can borrow money from the central bank. Pure Market Laissez faire; Let it be policy; Non-governmental intervention chelangatjimmy Student They are four economic systems namely-; market economy traditional economy mixed economy commercial economy sapnavaid Student there are three types of economic systems: Explain why this answer is meaningful or useful.

The market is the central concept in microeconomics. Environmental scientist sampling water Some specialized fields of economics deal in market failure more than others. This includes standard analysis of the business cycle in macroeconomics.

A widely accepted general standard is Pareto efficiencywhich is reached when no further change can make someone better off without making someone else worse off.

Their usage rates can be changed easily, such as electrical power, raw-material inputs, and over-time and temp work. See also average cost. Often results from overvalued exchange rates Exchange rate:. In your answer, use economic language in a manner that demonstrates your understanding of the concepts of this course.

Describe and Answer in Economic Terms a Managerial Decision You Have Knowledge About

This means use economic language correctly, but also briefly explain the economic terms and concepts (Do not write for experts in business and economics). Economics Questions and Answers - Discover the community of teachers, mentors and students just like you that can answer any question you might have on.

Much of economics is positive, seeking to describe and predict economic phenomena. John McMurtry has provided extensive criticism of what he terms the "unexamined assumptions and implications [of economics], and their consequent cost to people's lives.".

Economics vocabulary: Describing how the economy is performing exercise

Economic growth: Quantitative measure of the change in size/volume of economic activity, usually calculated in terms of gross national product (GNP) or gross domestic product(GDP). Duopoly: A market structure in which two producers of a commodity compete with each other. (a) Describe economic terms and concepts in question.

What are the types of economic systems?

(b) Describe your reasoning leading from concepts in question to the final answer. (c) Write full sentences and use double spacing between paragraphs. Answer to 1. Regarding the economy, what are the terms expand and contract generally used to describe?

Business Economics

a. Changes in monetary and.

Describe and answer in economic terms
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