ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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-A. Because we have always done it this way
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-B. No Growth
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-C. Profit
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-D. Only A & B
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Detailed explanation-1: -Quite simply, there are more opportunities for more people. Based on a broad range of input from experts, academics, peers, and public opinion, the Foundation defines inclusive economies by five inter-related characteristics: participation, equity, growth, sustainability, and stability.
Detailed explanation-2: -Economic systems regulate the factors of production, including land, capital, labor, and physical resources. An economic system encompasses many institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Detailed explanation-3: -The different kinds of economic systems are Market Economy, Planned Economy, Centrally Planned Economy, Socialist, and Communist Economies. All these are characterized by the ownership of the economics resources and the allocation of the same.
Detailed explanation-4: -Features or characteristics of a planned economy Usually, prices are decided by the price control mechanism. Production is planned for at least five or ten years in advance. Involves a high level of bureaucracy to manage and plan economic decisions. A higher degree of political control.