Answer: Recessionary gap to an inflationary gap
Explanation:
Recessionary gap is a macroeconomic term which explains an economy operating at a level lower than the full employment equilibrium.
Inflationary gap is a macroeconomic concept that explains the difference between the current level of real gross domestic product (GDP) and the expected GDP that would be experienced if an economy is at full employment.
Answer: Market Orientation.
MiLB do not know how to meet their customer's s demand or needs
Explanation:
Market Orientation describes the way a business responds to the needs of their customers. When such happens, it means that the business has to come up with what they believe is right about their customers rather than make decisions according to information flying around about customer's need. Market Orientation approach is very important if a business will be successful. Such approach includes market intelligence, strategic perspective, customer orientation perspective, strategic perspective, etc.
Answer:
- John is using available and renewable resources.
Explanation:
Economics is primarily associated with the allocation of limited resources for the production of goods and services and the distribution as well as consumption of these goods and services.
As per the question, John's use of economics is reflected by his 'use of limited available and renewable resources'(apple orchard) to produce goods(in the form of 'Pies') for distribution and consumption('selling them in the market'). Thus, the land(orchard), labor(John himself), capital(his time and money in making pies from apples) act as the factors of production in this economic activity.
True at least for federal governments like the one in Canada spend money for example for civil service activities like a geological survey to pay the geologists to do the field mapping and for their supplies and for the office maintenance for example. This then can benefit the mining and mineral exploration industries to narrow their search for mineral deposits,for example. Transfer payments in Canada are made to the provincial governments to help pay for national programs like medicare, to re-build or replace aging infrastructure, etc.
