In a free market economy, how are prices determined? Define the term macroeconomics as used in economics today. In economics, explain "economic inequality". [BUSINESS] How does a free market influence the economy, and what kind of imbalances can a free market create? Give an example of a ...
In economics the pattern of expansion and contraction of an economy of the long-term is known as the normal business cycle. During a long time of increased economic activity, many business people may become too optimistic that the economic expansion will continue indefinitely. Conversely, durin...
Investment can create more inequality in a society even if the society as a whole gets more resources. The responsibility for tackling this mainly rests with the ...
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Odds (a.) Difference in favor of one and against another; excess of one of two things or numbers over the other; inequality; advantage; superiority; hence, excess of chances; probability. Odds (a.) Quarrel; dispute; debate; strife; -- chiefly in the phrase at odds. Ode (n.) A short...
Is wealth inequality higher or lower than income inequality? What does that mean? What creates a comparative advantage? What are the weaknesses of a comparative advantage? What are some examples of goods that the U.S. has a comparative advantage in producing?
In economics, define the term 'labor'. What is economics? Explain in detail. What are the causes of inequality in economics? Define a mixed economy. Relating to economics, define communism. Explain the term "enterprise" as it relates to business and economics. Define Comparative Advantage in ...
Economics and Production: The purpose of firms is to find out how best to produce goods that consumers want. The failure to produce goods at a cost below the value consumers hold for a good will result in an loss. Answer and Explanation: The three types of return...
Define agents of socialization and explain how this concept relates to economics. Explain the connection between the goods and services market and the money market. What are the three types of market-based explanations of wage inequality? Briefly describe each one and give examples of each one. ...
How does capitalism affect inequality? Help with understanding the nature of capitalism, socialism, and democracy. Define economics. What would be the perfect economic system since Socialism and Capitalism doesn't really work for everyone? What is considered the "definitive" work on capitalism and ...