Economics

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Simply speaking, inbound tourism is when a non-resident or foreigner visits a given country, and outbound tourism is when a resident of a given country leaves that country to visit another one.

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  • What products does Germany import or export?

    Q: What products does Germany import or export?

    A: Germany is well known for exporting motor vehicles and importing oil. Germany is the third largest exporter and importer in the world.
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  • What is the primary purpose of business?

    Q: What is the primary purpose of business?

    A: The primary purpose of business is to make money. A business may sell a product or provide a service in its effort to make money for its owner or owners.
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  • What are the four types of economic resources?

    Q: What are the four types of economic resources?

    A: The four types of economic resources are labor, land, capital and entrepreneurship. These resources are also called the factors of production.
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  • What are China's major imports and exports?

    Q: What are China's major imports and exports?

    A: The top five exports of China are computers, broadcasting equipment, telephones, office machine parts and integrated circuits. China's top five imports are crude petroleum, integrated circuits, iron ore, gold and cars.
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  • What is a national economy?

    Q: What is a national economy?

    A: A national economy refers to the economy of an entire country. The national economy includes financial resources and management. It encompasses the value of all goods and services manufactured within a nation.
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  • How does technology affect the economy?

    Q: How does technology affect the economy?

    A: Technology has affected the economy through direct job creation, contribution to GDP growth, creation of new services and industries, workforce transformation and business innovation. The use of technology has been linked to marketplace transformation, improved living standards and more robust international trade. Technology has revolutionized virtually every industry in the economy.
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  • What is civil construction?

    Q: What is civil construction?

    A: Civil construction is a segment of the broader construction industry focused on building core infrastructure like pipelines, telecommunications, sewers, water treatment systems, highways, roads, bridges, subway tunnels and light rail transit lines. Companies operating in this field design, build and maintain physical assets that support economic growth and development and public health and safety.
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  • What is the development gap?

    Q: What is the development gap?

    A: The development gap is a term used for defining the differences between the most and least advanced countries. It is another way of referring to nations that enjoy first, second and third world statuses. It defines how far apart countries are in terms of development, economy and education. The development gap also refers to the hemispheric divide between the north and south.
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  • What are the main industries of France?

    Q: What are the main industries of France?

    A: France has the largest aerospace and nuclear industries of any European country, and it ranks second for agri-food and chemical industries. It is also Europe's third most important country for information and communication technology (ICT) and pharmaceutical sectors.
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  • What type of economic system does Japan have?

    Q: What type of economic system does Japan have?

    A: Japan has an industrialized global free market economy. A free market economy is a competitive economic system in which businesses compete with each other for profit and the prices of goods and services are based on supply and demand. Japan's economic system is very similar to that of the United States.
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  • What is economic liberalization?

    Q: What is economic liberalization?

    A: Economic liberalization refers to those government policies which promote economic growth by opening up trade to international markets, extending the use of markets and lessening the restrictions and regulations placed on business. China, Brazil and India, three of the fastest growing transitioning economies, achieved their economic growth after their governments liberalized their approach to business. This has led some economists to believe that economic reform is of greater importance than political reform in developing economies.
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  • What are some advantages of economies of scale?

    Q: What are some advantages of economies of scale?

    A: The most significant advantage of achieving economies of scale is a reduced cost per unit of production. Most other advantages stem from this primary benefit. A lower cost per unit allows a business to earn greater profit even when maintaining a similar price point. The company could pass on cost savings to customers by operating with a low-price strategy.
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  • What is a monetary instrument?

    Q: What is a monetary instrument?

    A: A monetary instrument is a form of domestic or foreign currency that includes, but is not limited to, checks, certain investments, traveler’s checks and money orders, according to the State of Connecticut Judicial Branch. This is the legal definition that government bodies use.
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  • What are Cuba's major imports and exports?

    Q: What are Cuba's major imports and exports?

    A: Cuba's major imports are refined petroleum, packaged medicaments, wheat, corn and soybean meal, and the country's top exports are nickel mattes, raw sugar, refined petroleum, packaged medicaments and rolled tobacco. Cuba also exports citrus, coffee and fish, as well as the services of its doctors and other health care personnel. Other top imports include machinery, equipment and chemicals.
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  • What is a multilateral trade agreement?

    Q: What is a multilateral trade agreement?

    A: Multilateral trade agreements are agreements on trade issues between three or more countries. They are difficult to negotiate because of their complexity, but once agreed upon, they are very powerful and beneficial for the nations involved, giving each nation equal status in terms of trade.
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  • What are France's major imports and exports?

    Q: What are France's major imports and exports?

    A: The majority of France’s exports include valuable commodities such as steel, machinery, pharmaceutical products, consumer products, petroleum, chemicals, iron and transportation equipment. France’s imports include crude oil, chemicals, aircraft, machinery, plastics and vehicles. The country's major export partners include Germany, Belgium, Italy, Spain, United Kingdom, United States and Netherlands. The major import partners include China, United Kingdom, Germany, Belgium and Italy.
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  • What is the largest component of GDP?

    Q: What is the largest component of GDP?

    A: The largest component of GDP is consumer consumption. GDP is the acronym for gross domestic product, which is a measure of economic output.
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  • What is the definition of global business environment?

    Q: What is the definition of global business environment?

    A: The definition of global business environment is multiple sovereign nations outside of the organization's home environment influencing how the organization makes decisions for how to use its resources. The company's operating situation depends on both external and internal factors.
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  • What is the difference between inbound and outbound tourism?

    Q: What is the difference between inbound and outbound tourism?

    A: Simply speaking, inbound tourism is when a non-resident or foreigner visits a given country, and outbound tourism is when a resident of a given country leaves that country to visit another one.
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  • What are the branches of economics?

    Q: What are the branches of economics?

    A: The two major branches of economics are microeconomics and macroeconomics. Microeconomics deals largely with the decision-making behavior of individual consumers and firms in markets, while macroeconomics focuses largely on the aggregated behavior of all consumers and firms in an economy.
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  • What is an agrarian economy?

    Q: What is an agrarian economy?

    A: An agrarian economy is a type of economy that relies primarily on agricultural industry including livestock farming or crop production. It is a form of economy whose major factor of production is the agricultural land. Prosperity of agrarian economy is also influenced by other factors such adequate rainfall, suitable climate and inputs like fertilizers.
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