The American Economy is called a Mixed Economy because it is a mixture of a command economy, traditional economy and a market economy.
Answer:
D. All of the above.
Explanation:
Their are many reasons why economists study the perfect competition model but we will focus on the options given and it is certified that all of them are the reason for this. Because it is used as a benchmark to compare with other market structures etc.
Firms can enter and leave the market without any restrictions , therefore, there is free entry and exit into and out of the market.
A perfectly competitive firm is known to be a price taker because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will lose all of its sales to competitors.
Answer:
Judicial branch keeps both the legislative and executive branch in check by reviewing legislature.
Explanation:
Answer: B. an import quota
Explanation:
An import quota is known to be a form of trade restriction which the government of a country imposes on a particular good from another country. The government place or put a limit on the number of imported goods which can be imported into the country over a specified period of time. Thus, the government imposes this in order to encourage local production of goods and services by making the prices of imported goods high and prices of local goods low.
Answer:
a
2, 4, 5, 1, 3
Explanation:
Ancient Egypt had three main social classes--upper, middle, and lower. The upper class consisted of the royal family, rich landowners, government officials, important priests and army officers, and doctors. The middle class was made up chiefly of merchants, manufacturers, and artisans.
