- History Questions and Answers
- Assistance and Support in Math Questions and Answers
- Physics Quiz
- Geography Questions and Answers
- Economics Questions and Answers
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History Questions and Answers
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Assistance and Support in Math Questions and Answers
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Since in the today's constantly developing technological world plenty of attention is paid to Physics, physics quiz and physics and questions and answers tasks are assigned to both high school, college and university students. In the majority of cases, in order to get well prepared for a physics question and answer assignment, a student should learn plenty of material, conduct experiments or tests in the laboratory settings, collect necessary data, as well as make analysis of a great number of facts, data, and information in order to get corroborative arguments or proofs. For instance, if you are unaware of your knowledge of the term or course material devoted to Plasma Physics or Medical Optics or failed to finish your medical assistant questions and answers assignment, our trustworthy and helpful company and our profound experts in diverse branches of Physics will assist you with your physics questions and answers task at a reasonable price.
Geography Questions and Answers
Do you know why geography questions and answers are considered very difficult? The answer is that nowadays, the knowledge in the field of Geography is of great significance both for social development and planning and for preserving our natural environment. This subject includes such sciences as Physical Geography, Human Geography, and Earth Science, which, in their turn, comprise other themes and topics, such as cartography, urbanization, population, social planning, etc. The key tendency dominating in the scientific community is that Geography should be seen as a whole in order to comprehend how humankind shapes and applies the nature, landscape, and numerous natural resources. Thus, in order to cope with your geography quiz questions and answers, you should spend plenty of time and efforts not only in the libraries, classes / lectures and in the internet, but also in the field. Entrust our fascinating specialist with your assignment and get an amazing outcome.
Economics Questions and Answers
Unsure whether you will be able to craft your economics questions and answers task successfully because of your long illness? If you have doubts or do not have the slightest idea regarding such questions as "Which of the following is a characteristic of a traditional economy? or What are key differences between macro and microeconomics" or cannot differentiate which of the following illustrates a macroeconomic question or which question is an example of a macroeconomic question, then you should urgently contact our online academic writing company and our highly qualified experts in Economics, who are always at your disposal. You should keep in mind that Economics is a very broad and complicated discipline that assists people in understanding different historical tendencies and trends, give clear interpretations of various actions, as well as provide predictions and recommendations concerning the years to come. One of the main questions of economics involves deciding upon the method for eliminating different economic problems that globalized world economics, as well as economies of separate countries are currently facing. If you start cooperating with our company and our professionals, such concerns as which of the following is not a key economic question or which of the following is a microeconomics question will cease teasing your mind once and forever.
Find Out More about 3 Economic Questions that Bug Everyone
All economies of modern countries face certain basic economic issues and even though countries are unique in terms of their cultures and history, their economics questions and answers are quite similar. The reason for that is limited resources, and without resources, even affluent societies cannot survive. Macro-economic decisions depend on the preferences of the community as well as on the social choices. Faced with an overwhelming demand for products and services, current economies look for new solutions to satisfy the needs of consumers. Meanwhile, thousands of people live below poverty line, unable to provide for their basic needs, including food, clean water, proper living conditions, etc. This is exactly why socialists find the capitalist economy extremely ineffective, given the damage it does to the environment and people while at the same time, making it impossible to create desirable living conditions for everyone.
So what are the three questions of economics that modern societies have to answer?
1. What Should We Produce?
One of the three economic questions deals with deciding what type of products should be made in the first place. In addition, every economy has to determine the appropriate volume of each product. The societies vary in ways they arrive at such decisions. While in some countries, the government decides, other leave the choice up to the society. In a so-called market economy, the producers depend on consumers and their interests and needs. Regardless of the decision maker, the economy is shaped by how the scarce resources are utilized and distributed.
To illustrate, let’s take an example of smartphones production. A company that produces radios notices that smartphones are in demand while the demand on radios has dramatically decreased. In search for profit, the manufacturer will take a decision to stop producing radios and start making smartphones to better satisfy the needs of the buyers. If the manufacturer decided otherwise, it is likely to become bankrupt. In other words, buyers dictate the trends on the market.
In the 21 century, every choice a person makes is associated with some costs. It is impossible to choose one alternative without affecting the other one. For example, if a company has enough resources to produce either wallets or backpacks, by choosing the former it loses the latter.
Strictly speaking, the answer to the question ‘What should we produce?’ depends on the consumers. They ‘vote’ for a particular product with their money. In order to survive, a manufacturer has to meet the expectations of its customers. However, government also has a role to play. For instance, a law demanding married women to wear long skirts generates a demand for long skirts, and businesses will surely start producing them.
2. How Should We Produce It?
The list of economics questions and answers would be incomplete if we did not discuss the methods of production. Obviously, companies always try to produce more while spending less. For instance, banks have substituted most of their counter service workers with AI machines, phone banking and the like. These solutions have not only simplified the labor process but also reduced the costs of production.
In short, the choice of production methods depends on the costs of production. If production is expensive because of costly capital and labor, companies adopt labor-intensive approaches and vice versa. Labor-intensive approach is the approach to production based on the combination of small capital and much low-cost labor, while less labor and more costs is a capital-intensive approach. Manufacturers make their decisions taking into consideration two basic factors, namely, lowest cost and advanced technology.
3. For Whom Should We Produce?
Now that we know what to produce and how to do it, which consideration must be addressed when deciding for whom to produce. One of the three main questions of economics addresses who should get the products and services. The number of products each person will receive depends on their income. In its turn, income is determined by the value of resources we have to offer.
For instance, a top football player earns much more than a high-school teacher. This means that the football player’s resources are so valuable that many people are willing to pay a high price for them. Since high-school teachers are not so rare, their services are less valuable. This leads to another important factor in economy, which is scarcity. It results from lack of resources, unlimited consumerism, or their combination. Therefore, all economics questions and answers seek to find the best way of using scarce resources most effectively.
How Market Answers These Questions
These 3 economic questions influence the society as a whole and each individual in particular. However, market answers them in a different way – through prices. For instance, producers, who are also the owners of the resources, answer the ‘what?’ question based on the relative prices. That is why an agrarian company chooses to plant more chickpea and less soybean if the price for the latter is lower in relation to the former. Why have the prices for the two products changed? The answer is simple – buyers. If the society values chickpea more than soybeans, this means that chickpea better satisfies their needs.
Similarly, prices help answer the ‘how?’ question. Manufacturers choose the production process taking into consideration relative prices. The reason why companies have become more automated lies in reduced costs as wages for human labor have increased.
Finally, relative price offers a quick answer to for ‘whom?’ question. The owners of the most valuable resources are paid relatively higher, which means they receive more income. Obviously, higher income enables them to buy more goods, so they receive most products. However, why do the owners of scarce resources receive higher wages? Due to a higher relative value of their resources, they bring more satisfaction to the society. In other words, an experienced brain surgeon receives higher wage than an accountant because the society places higher value on the contribution of a surgeon.
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