A. Globalization has … The impact and incidence are not on the same person. Which of the following layers is farthest from Earth's center? ... during a time in the United States that was marked by optimism and relative economic security, … Incidence may be shifted 2. Relevance The Portuguese continued the trans-Saharan slave trade to the Muslim world. The government has little or no control over the market. Play this game to review World History. It was a wartime economy. Scientists can observe how seismic waves change speeds when passing through different layers. The key characteristics of an asset as defined in the Framework include: A. True b. As firms are price takers and have to sell all their output at a predetermined industry price, thus they face a flat demand curve parallel to … answer choices . Liberalism is the culmination of developments in Western society that produced a sense of the importance of human individuality, a liberation of the individual from complete subservience to the group, and a relaxation of the tight hold of custom, law, and authority. Characteristic # 1. Economic Factors: Towards the end of the 15th century changes were taking place in the economic life of the people. In unregulated markets, an inefficient quantity would be produced. Which of the following is not true about the Portuguese slave trade? True. Someone who manages a business. The following are the characteristics of economic activities: 1. … Register now or log in to answer. What are 2 characteristics of a communist economy? D. either earn an economic profit, a loss, or break even depending on revenues and costs E. have incentives to produce the largest quantity at the lowest price given by the demand curve 12. Which of the following characteristics are MOST likely to be true of agribusiness? More Europeans inhabit rural areas. A. Which of the following statements is true about a market economy ? All of the following are arguments against globalization EXCEPT: a. it may lead to an increase in the apperance of old industries. The five characteristics of classical civilizations are _____. Following are the basic characteristics of a business organization: (i) Production or Goods Acquisition: … Limited surplus is produced, and excess goods are usually given to the ruling authority or landowner. Conceptual skills. Correct option is C) Option C is correct. Competition is a key factor in all the economies. Central authority is strongest in a command economy. The profit motive drives all businesses in a traditional economy. Q. Which of the following best describes the primary role of an economic system? Also called a subsistence economy, it may involve use of barter trade instead of currency. Which of the following is not a characteristic of pure public goods? Which of the following is true regarding the U.S. economic environment of labor relations since 1960? A true free market economy is an economy … The transportation mode having the best overall operating characteristics is Truck. Characteristics of a command economy Government steps in and takes over all production, tells entrepreneur what they'll make and tells public what they want Mixed economy Combination of a market and command economy Example of a mixed economy Social security and taxes Characteristics of a mixed economy Taxes are progressive in nature. Thus, capital is a man-made resource of production. 1. The United States is a capitalist country. b. it may lead to a loss of control over economic policies and … Which of the following is true? In a business organization, the primary goal is to produce and distribute goods and services in order to earn profit. 3. Which of the following best describes the economy of the 1920s in the United States? Which of the following is not a characteristic of a developing economy? Economic growth has traditionally been measured within a country by its inflation rate. Commerce. A is correct for #2. a. C. Egalitarianism. March 2018. 5. Which of the following is a characteristic of communist economies in reality? a. C.) Europeans are more concentration in urban areas. The impact and incidence are not on the same person. Which of the following is true about gender differences in making consumer decisions? Which of the following is a characteristic of a manufacturing economy? 2. a) It makes it easier to carry … It is devoted to producing … While no single … Competition is a key factor in all the economies. Formal b. This situation prompted government intervention to avoid … It is often dominant in rural and farm-based countries. A traditional economy is usually underdeveloped with minimal economic growth. Well, C is definitely NOT a characteristic of a fascist state. Central authority is strongest in a command economy. 3. The following is a characteristic of indirect tax - 1. The information must be readily understandable to users of the financial statements. People change as the country changes. Economic freedom is most limited in a market economy. Which of the following is true? nation-state, a territorially bounded sovereign polity—i.e., a state—that is ruled in the name of a community of citizens who identify themselves as a nation. In a market economy, producers often spend large amounts to make sure that consumers—even very young children—know the names and logos of their products.This is … Which of the following is true? a. Capitalism prioritizes individual rights, private ownership, and free enterprise. Every economic system answers three questions. Managements Goal-Oriented: Management seeks to achieve goals. A. These skills allow the manager to become involved with and lead his group. Which of the following is true? Which one of the following is not characteristic of‘Special Economic Zone’? It includes the political theories and movements associated with such systems. The following are all qualitative characteristics of financial statements. It was a wartime economy. (a) They do not have to pay taxes for long … Social stratification. All of the above 9. A. Also called a subsistence economy, it may involve use of barter trade instead of currency. True b. Which of the following best describes the economy of the 1920s in the United States? Which of the following statements is true concerning the introduction of general purpose money into societies that have non-market economies? All of the above … Correct option is B) Monopolistic competition is a market structure where there are large number of sellers selling differentiated products. Taxes are progressive in nature. The business (or trade) cycle refers to fluctuations in the level of national economic production. The monopolist should. Industry and commerce. critical shortages of consumer goods. 2 – Improvements. However, there are are 4 factors that are … China, b. Japan ,c. Mongolia, d. North Korea 1.command economy 2. market-based economy, 3. command economy with limited market reforms i . a. B.) Economic freedom is most limited in a market economy. Competition is a key factor in all the economies. Central authority is strongest in a command economy. The profit motive drives all businesses in a traditional economy. Q. Which of the following best describes the primary role of an economic system? Economic activity is the activity of making, providing, purchasing, or selling goods or services. Which of the following is not a type of process to impart education: a. Capitalism: Capitalism is identified with a system of unfettered individual enterprise. There are mainly five types of financial statements; statement of financial position, income statement, statement of changes in equity, statement of cash flows and disclosure notes.The former four mainly show the relevant financial data to a business but the last one mostly includes the non-financial data that assists the users of the statements to understand … The key characteristics of an asset as defined in the Framework include: A. Economic anthropologists have been concerned with two main questions, one … Which of the following is not a part of tripolar process of Education: a. Any action that involves producing, distributing, or consuming products or services is an economic activity. What was true about demographic characteristics—and even what was considered a demographic characteristic—has changed in the last fifty years. Jones Company recently has calculated that the EOQ for a particular item is 1,000 units. Central authority is strongest in a command economy. B. How do seismic waves help scientists understand Earth's layers? The reporting entity must control the future economic benefits. The American Revolutionary War and French Revolution of the late 18th century shook the world with new possibilities of liberty and democratic rule. 1. 41. B. Sedentism. Which of the following statements about resources in an economy is true? ADVERTISEMENTS: The following are the ten important characteristics of a business: 1. answer choices . Characteristic # 2. a. The following are the basic characteristics of communism. Economics questions and answers. Human relations skills involve the ability to work with people and understand employee motivation and group processes. Its marginal revenue is $8, its marginal cost is $7 and rising, its average total cost is $10, and its average variable cost is $9. Command economy is a form of economic system where production levels and rates are determined centrally by the government instead of demand-based production as like in case of market driven economy. A. SURVEY. The intuitive reason behind this is that economic aspects of land are often referred to as a consequence of it’s physical aspects. A.) Imposes more burden on poor 3. B. d. it can be a force of exploitation and injustice. a. increase output, which will result in an increase in the firm's positive economic profit. Competition is a … Shortage of capital 3. Economic freedom is most limited in a market economy. Population explosion and high dependency 4. Social ownership can be public, collective, or cooperative. That is a system where economic and social relations are ruled by contract, where men are free agents … The following is a characteristic of a direct tax - 1. These goals may be economic or non-economic. b. July 1989. The European population is much younger. Following are some of the basic and important characteristics which are common to all developing economies: An idea of the characteristics of a developing economy must have … A monopolist produces 14,000 units of output and charges $14 per unit. MCQ Of Chapter 4 Economics Class 10 Question 10. B. 87. The following points highlight the seven main characteristics of Less Developed Countries (LDCs). Wealth Producing Activities: The economic activities are undertaken to produce wealth. The economic characteristic of improvements (also known as modification), states that improvements to a piece of land can have either a positive or negative impact on its … Some of the characteristics are: 1. 2 – Improvements. China, b. Japan ,c. Mongolia, d. North Korea 1.command economy 2. market-based economy, 3. command economy with limited market reforms i . What it is: The peak phase is the highest point of the business cycle.It was a turning point after an economic expansion had slowed but before moving towards contraction. The following are the characteristics of economic activities: 1. Liberty. Conceptual Framework for Financial Reporting 2010 approved by the IASB. B. … Domestic economy was giving way to an exchange economy. C. Egalitarianism. 1. A student playing cricket is not an economic activity. The overriding qualitative characteristic of accounting information is a. Relevance b. Understandability c. Faithful representation d. Decision usefulness. (2 points) I. Education b. Educand c. Educator d. Society 7. The five characteristics of classical civilizations are _____. D. Firms generate small but positive economic profits in the long run. There is also no barriers to entry. The reporting entity must control the future economic benefits. The are many buyers and sellers in the market. 4. Socialism is a left-wing political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production, as opposed to private ownership. c. it may lead to an erosion of communities. D. Irrigation. answer choices . A. The legitimacy of a nation-state’s rule over a territory and over the population inhabiting it stems from the right of a core national group within the state (which may include all or only some of its citizens) to self … The state or the government does not interfere in the price decision. answer choices . … All of these answers are characteristic of a competitive market. Scientists can generate seismic … 6. Economic activity: Business is an economic activity of production and distribution of goods … c) Characteristics of Business – 6 Basic Characteristics of a Business Organization. communism, political and economic doctrine that aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production (e.g., mines, mills, and factories) and the natural resources of a society. Which of the following statements is true concerning the introduction of general purpose money into societies that have non-market economies? Economic freedom is most limited in a market economy. It … Which of the following … Which of the following best describes the Middle Passage? The following is a … Economic upturns are associated with concession bargaining. 2. 4. Someone who owns a business and makes profit from that business. Framework for the Preparation and Presentation of Financial Statements (the Framework) was approved by the IASC Board. (1 point) It was a period of economic hardship. Which of the following statements is TRUE? Framework adopted by the IASB. All of the following are arguments against globalization EXCEPT: a. it may lead to an increase in the apperance of old industries. Correct option is B) A capitalist economy is where the price mechanism is decided by the market forces of demand and supply. In this respect, liberalism stands for the emancipation of the individual. a. It is usually based on light industrial production. The percentage of the workforce involved in agricultural activities is … Question 5 . Machinery, tools and equipment of all kinds, buildings, railways and all means of transport and communication, raw materials, etc., are included in capital. The other three are correct. B. a. outer core b. mesosphere c. asthenosphere d. lithosphere 2. D.) Europe has a larger population concentration than Asia. Massive unemployment and Others. Mcq Added by: Adden wafa. Which of the following statements is not true for education: a. b) It results in the economic independence for the society as a whole. A traditional economy is usually underdeveloped with minimal economic growth. (1 point) It was a period of economic hardship. True b. Which of the following is true according to sociologists who use conversation analysis to study social interactions? The production may be for the consumption of family members or for the others. These skills are the mechanics of the job. a) Resources in an economy are unlimitedb) Resources in an economy are fixed at any momentc) All economies have the same resourcesd) Resources in the economy determine what is demanded. b. it may lead to a loss of control over economic policies and developments. Click here to get an answer to your question ️ Which of the following is a characteristic of a traditional economy?JANUARI ishlandacasseus17 ishlandacasseus17 … Damon. Low per capita income and widespread poverty 2. The wealth is produced by productive activities. False 49. communism, political and economic doctrine that aims to replace private property and a profit-based economy with … In the boom part, the economy is trying to reach its maximum limit, and inflationary pressure is high, leading to an overheated economy. An edge city is a affordable location that offers a concentration of offices, retail and residences so that people can live, work and shop without traveling far.Current economic trends such as the ability to work and shop from home make edge cities less appealing as people want to live in places where they might take a vacation. It is levied on income. However B was also true of many Germans and played a part in the rise of Adolph Hitler. Select the two correct answers. Correct option is D) Capitalism is an economic, social and political system where private individuals control a country's trade and business. Nazi Germany is an example of a historical command economy. Every body can fix the price as per their choice. B is the answer. Which of the following is a characteristic of a traditional economy? Select one: a. A market economy is a type of economic system where supply and demand (1) _____ the economy, rather than government intervention. Framework was published. A. Education is an Art b. The economic characteristic of improvements (also known as modification), states that improvements to a piece of land can have either a positive or negative impact on its value. answer choices. The wealth is produced by productive … SOCIAL STDIES HELP! Human relations skills. Living standards growth is possible even in the absence of economic growth. ________ measures changes in the prices of goods and services … 2.Where is the largest population concentration in the … Competition is a key factor in all the economies. Capital is defined as “All those man-made goods which are used in further production of wealth.”. Personal property is abolished or limited to personal items. b.The master budget, sometimes … With a large enough computer, central planners could guide production more efficiently than markets. 3. This means that information must be clearly presented, with additional information supplied in the supporting footnotes as needed to assist in clarification. Someone who creates, owns, and potentially runs a business. Its marginal revenue is $8, its marginal cost is $7 and rising, its average total cost is $10, and its average variable cost … The modern era saw the rise of democracy as a dominant political system and the introduction of liberty, rights and freedoms. Following World War I, economically, Germany suffered severely. Following are some of the basic and important characteristics which are common to all developing economies: An idea of the characteristics of a developing economy must have been gathered from the above analysis of the definitions of an underdeveloped economy. SOCIAL STDIES HELP! Many … Hence, abnormal profits in the long run is not a characteristic of a monopolistically competitive market. Economic freedom is most limited in a market economy. A monopolist produces 14,000 units of output and charges $14 per unit. a.Operating budgets include the cash budget, budgeted income statement, and budgeted balance sheet. B. 2 One of the most important characteristics of a market economy, also called a free enterprise economy, is the role of a limited government. Most economic decisions are made by buyers and sellers, not the government. A competitive market economy promotes the efficient use of its resources. Competition is a … It has a high standard of living. Tags: Question 2. State Ownership The state owns all capital in a communist system including all land, machines, buildings and infrastructure. Understandability. It is levied on income. The presence of positive economic profit in a perfectly competitive market is consistent with … September 2010. Which one of the following is the best example of the isolationism Americans adopted after World War 1? D. either earn an economic profit, a loss, or break even depending on revenues and costs E. have incentives to produce the largest quantity at the lowest price given by the demand curve … C. The … Wealth Producing Activities: The economic activities are undertaken to produce wealth. a. Informal c. Casual d. Non-Formal 8. C. The … Communism is thus a form of socialism—a higher and more advanced form, according to its advocates. If a nuclear power plant is built, the surrounding land values will decline. a) It makes it easier to carry out trade and gives individuals the ability to accumulate wealth. Which of the following statement is not true about the characteristic of the Indian economy on the eve of independence (Choose with correct alternative) (a) Size of the market was limited (b) Agriculture was stagnant (c) Agriculture was the main source of livelihood (d) "Commanding heights" industries were present d. It was the middle leg of a three-legged journey, a leg in which slaves were transported from Africa to the Americas. It is concerned with the indigenous production of food, clothing, and furniture.B. Adding a pool and landscaping to a home will increase its value. Factors Shaping Mercantilism: Some economic, political, religious and cultural factors were responsible for the emergence of mercantilism. 4. C. The goods offered for sale are largely the same. This course introduces students to the contemporary world by examining the multifaceted phenomenon of globalization. 1. Feb 26, 2017 . False ECO 202 – Final Exam Test Bank 50. There must be future economic benefits. T/F. 30 seconds. Developing economies do not experience change Attract investment Building capacity Developing infrastructure. … complex trade systems overpopulation lasting marks on art, architecture, science, language, and literature complex … None of the above. a. E. Firms can freely enter or exit the market. April 2001. Formal types of communication are the best suited for conversation … There must be future economic benefits. The following is a characteristic of indirect tax - 1. Which of the following statements is TRUE? E. Large populations. A.
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