Answer:
An economic system is any system of allocating scarce resources. Economic systems answer three basic questions: what will be produced, how will it be produced, and how will the output society produces be distributed?
There are two extremes of how these questions get answered. In command economies, decisions about both allocation of resources and allocation of production and consumption are decided by the government. In market economies, there is private ownership of resources—established though property rights—and the factors of production and consumption are all coordinated through markets. In a market system, resources are allocated to their most productive use through prices that are determined in markets. These prices act as a signal for buyers and sellers. Most economies are mixed economies that lie between these two extremes.
In either system, a rational agent would allocate resources and production using marginal analysis. In command economies, this is more difficult to do because without markets, prices fail at being an effective signal.
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According to the principle of comparative advantage Charles Woodson plays defensive back rather than receiver for the Green Bay Packers because his advantage as a defensive back exceeds his advantage as a receiver.
Option: B
Explanation:
The theory of comparative advantage depicts how a country can produce more goods instead of utilizing less services. In this way advantage of produced goods will be more in comparison with utilized services. When the profit margin exceeds used cost ratio it establish comparative advantage theory.
It is mainly effective in international trade and commerce where many goods are being imported and exported and taxes are collected on the basis of profit margin. Richardo establishes the theory of comparative advantage.
Answer:
Explanation:
Again this appears to be related to learning disability. An expressive learning disability is one that has difficulties in expressing oneself and participating in a conversation with others. Vague words like things and stuffs are used frequently to describe specific items. Or the child may simply be quiet all the time.
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