The type of economic system a producer is operating in determines the way these outputs are distributed, what goods and services are produced as outputs, and how scarce resources are allocated among producers to create these outputs. The most common types of economic systems are market, traditional, command.
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Answer:
D. Societies that exhibit mechanical solidarity have a simpler division of labor and a group conscience. Societies that exhibit organic solidarity have complex divisions of labor and increased individualism.
Explanation:
The classification of society into the Mechanical and Organic was done by a Sociologist named Emile Durkheim. From his classification of society, the Mechanical type of society is a society that relies on the sameness or homogeneity of people. He reasoned that in this type of society, people have similar interests, in terms of religion, way of life and education. They had a simple division of labor and a group or collective conscience. This kind of society can be found in rural settings.
The society that exhibits Organic solidarity, however, relies on the interdependence of people and what they do. This society exists on the basis that people rely on each other to survive. For, example we all rely on the services of teachers, doctors, and other professions. This society is found in urban or more advanced settings. There is a complex division of labor and increased individualism in this society.
GDP is the total sum of the wealth produced in a country over a given period of time, usually one year. Nominal GDP is GDP at current prices, while nominal GDP is deflated GDP, ie, discounted inflation. Thus, if the inflation rate is 5% = 0.05, we have to use the formula for the real GDP calculation:
Real GDP 2018 = Nominal GDP / 1+ inflation rate
Real GDP = 315 / 1.05 = $ 300 (in billions).
To calculate the GDP growth rate between 2017 and 2018, just narrow the difference between real GDP for both years and divide by the value of real GDP for 2017. The result must be multiplied by 100 to find the percentage value.
GDP growth rate = {(300 - 273) / 273} * 100 = 9.89%
Pick number 2 its the right one
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