Quick Answer: What Economic Goals Might Come Into Conflict Of A Factory Pollutes A Local Water Supply?

What economic goals might come into conflict if a factory polluted a local water supply?

What economic goals might come into conflict if a factor polluted a local water supply? The goals of standard of living and innovation.

Which basic economic goals can be achieved easily in a traditional economy which Cannot explain?

Answer: Economy equity can be achieved easily in traditional economy as people work for entire community. Goals of economic growth, economic security and economic efficiency are not achieved as there is no variety, and very less innovation.

Which economic goals are in conflict with each other?

Economic goals of full employment, stability, economic growth, efficiency, and equity are widely considered to e beneficial and worth pursuing for a country to achieve economic stability. Full employment and price stability are goals that conflict with each other.

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Which economic goal do you think was the most important to Karl Marx efficiency growth or equity explain?

Which economic goal do you think was most important to Karl Marx: efficiency, growth, or equity? Explain your answer. Efficiency because he believed there was a conflict between labor and capital in capitalism and believed communism would take that conflict away, therefore making the economy more efficient.

What are two economic goals examples?

National economic goals include: efficiency, equity, economic freedom, full employment, economic growth, security, and stability.

What are the three basic economic questions all societies must answer?

Because of scarcity every society or economic system must answer these three (3) basic questions:

  • What to produce? ➢ What should be produced in a world with limited resources?
  • How to produce? ➢ What resources should be used?
  • Who consumes what is produced? ➢ Who acquires the product?

What is another name for traditional economy?

Also known as a subsistence economy, a traditional economy is defined by bartering and trading.

What basic goals can be achieved easily in a traditional economy?

Answer: Economy equity can be achieved easily in traditional economy as people work for entire community. Goals of economic growth, economic security and economic efficiency are not achieved as there is no variety, and very less innovation.

What are the four different economic systems?

There are four types of economies:

  • Pure Market Economy.
  • Pure Command Economy.
  • Traditional Economy.
  • Mixed Economy.

What does it mean when two economic goals are in conflict?

Economic goals are often conflicting because of the scarcity of resources. One goal is accomplished at the (opportunity) cost of another. Economic growth is desirable when its benefits to society in the form of more production and jobs are greater than its associated costs.

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Which economic goal is the most important?

Full employment, stability, and economic growth are the three macroeconomic goals most relevant to the aggregate economy and consequently are of prime importance to the study of macroeconomics.

What is an example of economic conflict?

Economic conflict is a conflict over economical issues. The most basic example would be a conflict over resources, and most of the wars throughout

Which of the following is not an economic and social goal?

The purpose of government in a command economy is to: Make major economic decisions. Which of the following is NOT considered an economic and social goal: Entrepreneurship.

What is the difference between free market and command economy?

The command economy is unlike a free-market or capitalist economy. In a free-market economic system, manufacturing and production are based on the powers of supply and demand with little or no government intervention. Examples of command economies today include North Korea, Iran, Libya, and Cuba.

What’s a key difference between a command economy and socialism?

What is the main difference between command and socialist economies? In command economies, the government owns most of the factors of production (more resources are owned). In socialist economies, the government owns some, but not all, of the factors of production (fewer resources are owned).

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