What is an example of how the real (physical) and digital (virtual) worlds are converging?

Q: With countless people competing for the same resources, how do we determine who gets the resources?

A: Economics(e) is the study of how limited-resources with alternative-uses are allocated to different…

Q: What would be another example of a “system” in the real world that could serve as a metaphor for…

A: Economics is a social science subject. Understanding the subject gives a  brief idea regarding how…

Q: define a production possibility curve and use such a curve to illustrate scarcity,choice and…

A: The resources in any economy are limited while the wants are unlimited. The subject of economics…

Q: What are economic systems, and how do they differ?

A: Answer: Economic system: it refers to the system by which resources, goods, and services are…

Q: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?

A: Production Possibility Curve represents different combinations of good (or services) that can be…

Q: What are the three types of economic systems in internaional market? What criteria can we use to…

A: Economics deals with the supply and demand of resources. According to Adam Smith, the father of…

Q: How did social media disrupt freethought? (Use Philippine politics as an example)

A: It is simple to express free opinion on social media, however unfortunately, social media may also…

Q: A point inside a production possibilities frontier?

A: Production Possibility Frontier: It refers to the graphical representation of various possible…

Q: Explain why a movement from a point inside a production possibilities frontier to the production…

A: The points on production possibilities frontier indicate the combination of two goods that are…

Q: Explain what is illustrated by the production possibilities frontier. Also, why is a production…

A: Production possibility frontier shows the combination of production of two different goods at a…

Q: Imagine a society that produces Capital goods and consumer goods. Draw a production possibilities…

A: Since you have asked multiple sub-parts, first three sub-parts would be answered. If you want the…

Q: How are economic systems linked to types of societies?

A: Economic system: A monetary framework is a method by which social orders or governments arrange and…

Q: What comes to mind when you think about macroeconomics and microeconomics?

A: Macroeconomics is the study of economics at an aggregate level that is when we study the entire…

Q: What does the Powerbar model tell us about how creativity fits into a market economy?

A: Ans-    Market power model means a broader market which existing rebranding bar.  It is constant…

Q: Building massively dispersed data environments entails what kind of trade-offs?

A: A tradeoff is a scenario in which selecting one decision entails giving up something else, either a…

Q: How might the quality of life ultimately be determined and measured?

A: Standard of living is the level of comfort, necessities, material goods, and wealth available to the…

Q: Explain with example, how to construct economic model

A: An EM {economic model} is described as the clear version of reality that allows individuals to…

Q: There are different components that make up a society. It includes all the following, except: a.…

A: A society is group of people living together following set of rules or beliefs

Q: What does a PPF show? What is a trade-off?

A: A Production Possibility Frontier is a graph that shows all the possible combinations of two…

Q: How do design, creativity, and innovation connect in our current environment?

A: Economic activities are incrasing in all over countries eithe developing or developed economy.…

Q: What is a social economy? Why is it considered to be happening already?

A: Economies are classified into different types based on the economic activities performed by the…

Q: in your own words , summarize the relationship of science and technology, social , cultural,…

A: Answer: Science brings innovation through experiments research and the process of innovation and…

Q: What are the differences in the way a market process vs. a command process attempt to deal with the…

A: Basic problem of scarcity means availability of limited resources against unlimited wants of human…

Q: What is PPP, and why is it useful?

A: PPP refers to purchasing power parity.

Q: What are the three categories of paradigms?

A: A paradigm is a comprehensive belief system, world view or framework that guides research and…

Q: Is space the canvas on which economic geographical patterns are mapped out, or does it play a role…

A: Economic Geographic patterns are the aggregate result or resultant of the several economic laws,…

Q: Draw and explain a production possibilities frontier for an economy that produces cheese and milk.…

A: The Production Possibility curve also known as Production Possibility Frontier the graphical…

Q: Is there a change in the resources available to society? explain why.

A: Economics is the study of allocation of scarce resources among alternative uses to satisfy human…

Q: “Scarcity is the fundamental problem that every nation in this world faces.”  What do you mean by…

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: Imagine a society that produces Capital goods and consumer goods. a. Draw a production…

A: Production possibility frontier illustrates the possible combinations of two goods that an economy…

Q: Draw and explain a production possibility frontier for an economy that produces milk and cookies.…

A:

Q: How does innovation disrupt the flow of an economy to any given organization? Discuss

A: When talking about the term 'disrupt' it can be said that it is the hurdle or disturbance in a…

Q: Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity…

A: The opportunity cost s the money value of the next best alternative that is foregone while making…

Q: What do we mean when we say individuals are both products and producers of society.

A: A producer is defined as an individual who creates and supplies the goods and services in the…

Q: What is the production possibilities frontier?    A. a map that shows areas of the world in which…

A: Economics relates to the organization of money, business, and industry.

Q: how do we make the best use of the available resources

A: Scarcity: - it is a very basic problem of economics that is related to the limited availability of…

Q: According to David Harvey, urbanism is a process that involves a constant restructuring of space.…

A: URBANISM REFERS TO LIFE WITHIN THE CITY.

Q: How are the natural and technological environments linked?

A: Natural environment includes all the living and non-living things that are occurring naturally.…

Q: An economy will achieve productive efficiency when it ___ and will achieve productive efficiency…

A: In economics, efficiency refers to lack of wastage. There are two types of efficiency, i.e.,…