ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Human Capital
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Entrepreneur
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Capital Good
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None of the above
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Detailed explanation-1: -There are three main types of economic systems: command, market, and mixed. We will briefly describe each of these three types.
Detailed explanation-2: -A mixed economic system has features of both a command and a free-market system. because it is partly controlled by the government and partly based on the forces of supply and demand.
Detailed explanation-3: -In what way are the Mexican and Brazilian economies similar? They are both mixed economies. They are both pure market economies.
Detailed explanation-4: -Economic development is a critical component that drives economic growth in an economy, creating new job opportunities and facilitating an improved quality of life that includes increased access to opportunities created by economic growth for existing and future residents.