<span>Countries with free market economies in which property rights are protected tend to have </span>greater economic growth rates <span>than command economies or economies where property rights are poorly protected.
</span><span>The reason is the lack of infrastructure and supporting business in primitive or undeveloped economies, which may lead to situation in which is more costly to do business. </span>
Answer:
A. When the U.S. firms set up production units in the advanced nations to meet rapidly growing demand.
Explanation:
Production within other advanced countries begin to limit the potential for exports when the U.S. producers set up their production facilities in advanced nations to deal with high demands of certain products. When the markets reach a mature stage, the products and services become highly standardized and this is when the competition starts depending on the price.
Answer: b. Only Joe’s and Jim’s grocery store purchases are included in GDP.
Explanation:
The Gross Domestic Product is a measure of economic productivity and is a sum of the market value of all goods produced in an economy in a certain period.
Produce from Jim's garden will not be included as GDP disregards goods produced at home for consumption purposes as those would be too hard to measure. Those goods sold in the market however are included which is why Joe and Jim's grocery store purchases will be included.
Answer:
Option A, Fixed quota models are risky because slight miscalculations can result in fish population extinction
Explanation:
Some of the major drawbacks of modelling fishing are as follows –
a) The fixed quota model is very risky as a miniscule change in attributes can result into extinction of fish.
b) On the other hand fixed effort harvesting can decrease the risk of fish population extinction
Hence, option A is correct