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:
A. positive cross-price elasticity of demand
Explanation:
For substitute goods we always have a positive cross-price elasticity of demand. The cross elasticity of demand for substitute goods is always positive because the demand for one good increases when the price for the substitute good increases.
For example, if the price of a
brand of beverage increases, the quantity demanded for a substitute beverage increases, this happens because consumers will quickly switch to a less expensive yet substitutable alternative. In the cross elasticity of demand formulae both the price and product are positive.
Jim Crow laws were a collection of state and local statutes that legalized racial segregation. Named after a Black minstrel show character, the laws—which existed for about 100 years, from the post-Civil War era until 1968—were meant to marginalize African Americans by denying them the right to vote, hold jobs, get an education or other opportunities. Those who attempted to defy Jim Crow laws often faced arrest, fines, jail sentences, violence and death.
Answer: Biological learning theory
Explanation: If we take into consideration what we know about Piajet's theory, we can clearly see how a lesson is affected in terms of deliverance and instruction.
To this author, learning is a constructive process in which we learn the basis and then continue to perfect it; A lesson should start by explaining the basic terms of a topic and then going onwards with it. The education system is structred like this, according to the age of the person is what they are going to learn and then perfect it as they grow older.
