All countries have what type of economy

1 answer:

6 0

Traditional economies still produce products and services that are a direct result of their beliefs, customs, traditions, religions, etc. Vast portions of the world still function under a traditional economic system. These areas tend to be rural, second- or third-world, and closely tied to the land, usually through farming.

However, there is an increasingly small population of nomadic peoples, and while their economies are certainly traditional, they often interact with other economies in order to sell, trade, barter, etc.

Learn about the complexities of globalization and how it shapes economic relationships and affects cultures with this great class on the geography of globalization.

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Answer:

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Question Completion:

What is a price floor?

Answer:

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Explanation:

However, assuming that the market was efficient before the price floor was introduced by the government, the price floor of $2 per gallon for milk could cause a deadweight loss to occur. In Economics, a deadweight loss reduces economic efficiency. It implies that consumers pay a higher price for the same quantity of goods they were purchasing before the price floor was introduced. Thus, the reaction of consumers would be to reduce their demand or drop out of the market entirely (instead of producers dropping out of the market through the normal operation of the market forces).

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A growth strategy that emphasizes both new products and new markets DIVERSIFICATION STRATEGIES
A growth strategy that introduces existing products to new markets MARKET DEVELOPMENT STRATEGIES
A growth strategy that focuses on selling new products in existing markets PRODUCT DEVELOPMENT STRATEGIES
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