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Economics

Economics is the study of production, distribution and consumption of goods and services whether in a city, country or a single business. Questions about supply and demand and economic theory are welcome here.

500 Questions

Which condition leads to an increase in supply?

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an increase in the cost of raw materials

What are the three goals of a healthy economy?

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stable prices

full employment and economic growth

In what type of economy the government owns the basic means of production?

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A Communist Economy.

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Socialism

What type of economy is the best?

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The United States has a mixed economy which has many disadvantages for everyone. Often times the rich keep getting richer and the poor keep getting poorer. The best economy is an Equitable Economy. It is the fairest economy and an economy that rewards workers at all levels of an organization if that organization is successful (much different than a socialist view which distributes equal portion no matter the contribution). Currently people are allowed to steal data from those that are unprotected and it's legal. In an Equitable Economy, every person that contributes data receives a portion relative to what their data contributed to the overall revenue from any venture.

What is the best example of a mixed economy?

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the best example of a MIXED ECONOMY is the market economy and a command economy

What is the difference between current prices and adjusted prices of goods and services?

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In brief, an adjusted price is the “true price”. An unadjusted price is a titular price. You ought to continuously utilize adjusted prices to appreciate where the market is. At the same time, an unadjusted cost chart gives you more historical context/market structure, which is very carping to investment methods.

What is the effect of globalisation on industrial sector?

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Globalization implicates industrial connections networks both immediately and indirectly, and the components encircling them. For illustration, international markets, free action of money and labour, improving tournaments, and markets’ implications affect the global industrial connections networks. The time it expedites economic interdependence between countries, it can lead to confluence in global industrial connections. With more organizations beginning to put up with their business accepted, work criteria and salaries commence to status out, and federations remember to modify their recruitment agreements to educate for disparities in practice civilization. Expanded countries are glancing to lease more workers from expanding clams to relate labour demand and supply holes. The scarcity of labour could oblige their economic growth, international competitiveness, and productivity achievement. In the decision, globalization is here to keep up, and any nation that needs to be on the world’s economic graph has to arrive in this athletic atmosphere.

Consumer price index?

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Consumer price index is a way to measure the averages of prices of consumer goods and services. It is calculated by taking price changes of items or goods and averaging them. Consumer price index is used to assess price changes associated with the cost of living.

Long form of GDP?

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GDP - Gross Domestic Product

What are the strengths and weaknesses of GDP as a measure of economic development?

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what are the strengths and weakenesses of gross domestic product