Which city generates most revenue for Pakistan?
Karachi Karachi is now Pakistan’s premier industrial and financial centre. The city has a formal economy estimated to be worth $114 billion as of 2014, wh...
Why is economic growth difficult to achieve in a centrally planned economy?
Economic growth would be difficult because there would be no entrepreneurs creating their own product only the government decides what is made. A complete...
Is a good whose demand falls as income rises?
In economics, an inferior good is a good whose demand decreases when consumer income rises (or demand increases when consumer income decreases), unlike no...
How does terrorism affect the economy?
Terrorist acts can cause ripple effects through the economy that have negative impacts. The most obvious is the direct economic destruction of property an...
In what type of system are all major economic decisions made by the central government?
In a centrally planned economy, major economic decisions are made by a central authority. Centrally planned economies stand in contrast to market economie...
Which of the following redistribution programs provide medical assistance?
What redistribution programs provide medical assistance to those who are disadvantaged or unemployed? The correct answer is Medicaid. Medicaid is a distri...
How does poverty affect illiteracy?
Poverty and illiteracy are closely linked – and with the second largest population in the world, India is home to one-third of all world poverty. While 22...
What are the six factors that cause a change in supply?
Supply shifters include (1) prices of factors of production, (2) returns from alternative activities, (3) technology, (4) seller expectations, (5) natural...
When Kennedy says that humans have the power to abolish all forms of human life to what is he referring?
Kennedy notes in his speech that humans have “the power to abolish… all forms of human life.” To what is he referring? Humans have nuclear weapons. What h...
Is Hawaii a rich or poor country?
Hawaii has one of the healthiest economies in the country, bolstered by a large number of wealthy retirees and a robust tourism industry. As a result, the...
