Briefly, explain the difference between market economy and planned economy.
Since these did not work, is there some other device, institution, or resource that can help create an incentive for businesses to act appropriately and not choose profit over safety?
July 25, 2019How would you describe your personal ethics? Is that different than your business ethics?
July 25, 2019Briefly, explain the difference between market economy and planned economy.
Question Description
20) Briefly, explain the difference between market economy and planned economy.
21) Briefly, describe the concept of “invisible hand.”
22) Briefly, describe GDP and each of its five components.
23) Briefly, describe the difference between structural unemployment and frictional
unemployment.
24) Briefly, compare and contrast normative economics and positive economics.
25) Briefly, describe each of the following perspectives in economics: Feminist
Economists, Radical Economists, Religious Economists.
26) What did Keynes mean when he said “in the long-run we are all dead”?
27) Briefly, describe the concept of negative externality (provide two examples).
28) Briefly, describe free rider problem (provide two examples).
29) Graphically, illustrate various parts of production possibility model.
30) In the production possibility model, compare and contrast the outside and inside areas
of the production possibility curve (provide an example).
