which of the following is part of the economic values of the united states? course hero

Which part of the economy involves services rather than goods?

Jan 16, 2022 · the mobility of the people within them stagnated. Economic growth is calculated using real GDP or real GDP per capita. he changes and improvements in people's lives that began by 1770 are detailed in a book called An inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith Suppose that in year 1, real GDP per capita was $30,000 billion and in …

Which part of the economy is of greatest importance in low-income nations?

The United States is a mostly capitalist nation because a. the vast majority of productive businesses are privately owned. b. we have a system of free elections. c. of our high living standards. d. of the extensive government control of the economy.

Which goods are needed to arrive at an economic decision?

Dec 04, 2021 · You passed this Milestone 14 questions were answered correctly. 3 questions were answered incorrectly. 1 In a closed system, a highly intelligent and inventive girl will likely occupy what socio-economic position as an adult? The same socio-economic position as her parents. A high socio-economic position. A low socio-economic position. It depends on how …

Which countries have economically prospered recently by introducing a more market-based economy?

Nov 06, 2017 · View Test Prep - Quiz 2 Week 3.docx from HTM 250 at Strayer University, Atlanta. Question 1 5 out of 5 points Which of the following economic values tends to be the least understood and, quite

What is the social institution that organizes a society's production, distribution, and consumption of goods and services?

economy. the social institution that organizes a society's production, distribution, and consumption of goods and services. social institution. the major spheres of social life, or societal subsystems organized to meet human needs. postindustrial economy . a productive system based on service work and high technology.

What is capitalism in economics?

3. from factories to almost anywhere. Capitalism. an economic system in which natural resources and the means of producing goods and services are privately owned. Capitalism results in: -greater productivity. -higher overall standard of living.

How did the information revolution change the world?

the information revolution made 3 significant changes: 1. changed from tangible products to ideas. 2. moved from mechanical skills to literacy skills. 3. from factories to almost anywhere. Capitalism. an economic system in which natural resources and the means of producing goods and services are privately owned.

What is welfare capitalism?

Welfare capitalism. an economic and political system that combines a mostly market based economy with extensive social welfare programs.

What was Adam Smith's idea?

Adam Smith's idea was that, in a capitalist system, government tells businesses what to produce and consumers what to buy. false. Although there are many privately-owned companies in the United States, most of the U.S. economy is owned and operated by the government.

What is the definition of paraprofessional?

true. The concept "paraprofessional" refers to work that requires skills, but typically lacks a broad theoretical knowledge of a field. true.

What is traditional economy?

Traditional economy - system in which economic activity is the result of ritual, habitat, or custom. Economic system - efficient way of allocating resources and producing and distributing goods and services in a society. Command economy - economic system in which a central authority makes the major economic decisions.

What is mixed economy?

Mixed economy - system that has some combination of traditional, command, and market economies. Great Depression - worst period or economic decline in U.S. history, lasting from approximately 1929 to 1939. Communism - economic and political system in which factors of production are owned and directed by the state.

What is communism in economics?

Communism - economic and political system in which factors of production are owned and directed by the state. Voucher - certificate used to purchase government-owned property during privatization. Collectivization - forced common ownership of factors or production. Capital-investment - requiring large amounts of investment in equipment in relation ...

What is capital investment?

Capital-investment - requiring large amounts of investment in equipment in relation to labor. Population density - number of people per square mile of land area. European Union - successor of the European Coal and Steel Community, established in 1993.