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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Answer:
This question is incomplete. Here are the missing options:
- a. automatic processing
- b. the spacing effect
- c. imagination inflation
- d. the serial position effect
The answer is a. automatic processing.
Explanation:
Automatic processing is described as cognitive processes that occur unintentionally and with little to no attention. In the example, Kelsey could remember the details about the word's position unconsciously.
Remembering the meaning of the term, on the other hand, would have required <u>controlled processing</u>.
The Townshend acts produced controversy and anger amongst the American colonists. This led to protest, and only strengthened their resentment towards England.
Hope this helped!
Another name for the enlightenment era is the age of reason.
Answer & Explanation:
'Identical twins separated at birth & raised apart' make an interesting subject for research :
- Gives insights into personality variation among twins, despite of having the same DNA
- Idea about 'Nature vs Nurture', to study how birth & environmental factors shape the cognitive & behavioural aspects of twins
- Analysis of heritability of traits, & factors affecting individual differences in ageing
Probable abuses due to inappropriate evaluation & conclusion of study :
- Intentional & wilful exposure to different environment for both the twins
- Psychological distress to a child if the child is raised in a separate, different environment.
