Economic rights are part of a range of legal principles based on the philosophy of human cultural and social obligations in which economic equality and freedom are preserved. Economic and social rights are granted to Americans fulfilled by the government in an effort to ensure that citizens have the ability to maintain their needs.Continue Reading
The main economic and social rights include the right to education, the right to food, the right to health, the right to housing, the right to social security and the right to work. These rights do not guarantee that every American citizen will have all of these, but they do guarantee that every American citizen will be given the opportunity to have all of these basic rights. The government must respect, protect and help to fulfill all of these basic human economical rights.
These rights were created to guarantee that every American be given the opportunity to have all of the necessary means for living. These rights are not based on gender, age or race, and they apply to every adult in the United States. These rights cannot be taken away, but they can be restricted based on the choices that the citizen has made and the circumstances they have created for themselves. All Americans are entitled to these rights, but not all Americans choose to use the rights to help better their lives.Learn more about Economics
The dependency load is the age-population ratio that is usually not a part of the work force. Dependency load is most commonly referred to as the dependency ratio.Full Answer >
Common issues in health economics include whether a plan of action is technically efficient, whether it is allocatively efficient, and whether it results in both vertical and horizontal equality. The goal of health economics is to provide analytical techniques to assist decision making.Full Answer >
The primary difference between capitalism and socialism is that capitalism promotes innovation and personal pursuits, while socialism promotes societal fairness and equality. A capitalist economy accepts that income polarity is a reality in order to motivate high performers to develop new ideas and products for personal gain. A socialist economy tries to balance wealth through policies that ensure each person has an adequate amount of income, food and supplies.Full Answer >
A "normal good" is one that follows the conventional pattern of demand change in response to income changes. As income level goes up for a person or community, the level of demand for a normal good increases as well. At lower income levels, quantity demanded is also lower.Full Answer >