they use something called barter system, under which goods and services are exchanged directly for other goods or services. So the farmer may give the taxi driver some vegetables in exchange for a ride, and in this case the vegetable is a form of money under the system. A narrower definitio...
Explain how money provides the solution to overcome the shortcomings of the barter trade system. Explain the concept of zoning laws in terms of property rights. Explain the challenges, pitfalls, and rewards of identifying export markets. In the Bid-...
Explain the concept of market failure and the alternatives to market processes in resource allocations.Market Economic Systems:In a market-based economic system, the basic economic questions of what to produce, how to produce, and who gets the rewards are answere...
1. Give an example of a barter transaction. 2. Give an example of a situation in which money plays role of unit of account. 3. Give an example of a commodity money. 4. Sometimes when the economy is gr List the two traits of...
3.According to the passage, a barter economy can generate ___. A. rapid speed of transactions B. misunderstandings C. inflation D. difficulties for the traders 4. According to the passage, who has the greatest degree of control in the administered system? A. ...
宏观习题答案(英文题中文答案).pdf,PART 1 THE DATA OF MA CR OE CON OM ICS CHAPTER 1 MEASURING A NATION INCOME 1. Explain why an economys income must equal its expenditure. 答 :对于一个经济整体而言,收入必定等于支 出,因为每一次交易都有两方 :一个买者 一
This includes understanding the international trade system, the economic environment, the political-legal environment, and the cultural environment. * Companies looking abroad must start by understanding the international trade system. A firm may face restrictions on trade between nations when selling to ...
Discuss the important functions and characteristics of money. Why is a barter economy inefficient? Explain the reasons why personal selling is more important in B2B marketing than in B2C Selling. Use the concept of opportunity cost to explain why both people and nations specialize and trad...
Explain at least one advantage and one disadvantage of bartering. Describe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies? State three reasons for a potentially beneficial role of government intervention. ...
Explain how money provides the solution to overcome the shortcomings of the barter trade system. Explain the obstacles that countries face during economic transition. Suppose Italy had a real exchange rate relative to Germany of 1.5. a. Explain what this means in words. b. How can this be tr...