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What is the role of democracy in economic growth?
Democracy leads to economic growth through cumulation of social and economic capabilities. Acemoglu et al. (2019) argued that democracy leads to economic ...
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technology updates
What is economical use of natural resources?
Natural resource economics focuses on the supply, demand, and allocation of the Earth’s natural resources. Natural resources are either renewable or non-r...
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What is credible threat in economics?
A credible threat is a threat made by a player in a sequential game that would be in the best interest for the player to carry out. Why might a threat not...
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What were the effects of the Depression of 1873?
Mirroring the firm’s collapse, many other banking firms and industries did the same. This collapse was disastrous for the nation’s economy. A startling 89...
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How does education relate to government?
Federal Role in Education. Education is primarily a State and local responsibility in the United States. It is States and communities, as well as public a...
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Which sector contributes maximum to the GDP in India?
Service sector The sector includes construction, trade, hotels, transport, restaurant, communication and storage, social and personal services, community,...
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Which country gets nearly all of its oil from the Middle East?
Saudi Arabia Many of the largest oil producers are in the Middle East, including Saudi Arabia, UAE, and Iraq. Saudi Arabia is the world’s largest oil prod...
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What is the main source of income in Vietnam?
Vietnam’s economy is based on large state-owned industries such as textiles, food, furniture, plastics and paper as well as tourism and telecommunications...
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What were the social and economic inequalities?
Social inequality refers to disparities in the distribution of economic assets and income as well as between the overall quality and luxury of each person...
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Why is the price mechanism considered to be efficient?
The incentive function of the price mechanism Higher prices provide an incentive to existing producers to supply more because they provide the possibility...
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