Economics

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 characteristics of a traditional economy?

    Q: What are characteristics of a traditional economy?

    A: A traditional economy is an economic system where customs, traditions and beliefs determine the goods and services created by the society. It is dependent on agriculture, hunting and gathering, fishing or any combination of the above. Also called a subsistence economy, it may involve use of barter trade instead of currency.
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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 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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  • What are the G7 countries?

    Q: What are the G7 countries?

    A: The member states of the G7 are the United States, United Kingdom, France, Canada, Italy, Japan and Germany. They are collectively known as the "Group of Seven," and represent the world's largest industrialized economies. The G7's finance ministers and heads of state meet periodically to set international economic policy.
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  • What is market opportunity analysis?

    Q: What is market opportunity analysis?

    A: Market opportunity analysis is a form of business planning that incorporates market forecasting techniques and development of a plan that assesses the organization’s financial capability and identifies future opportunities. It gives the company competitive and technological preparedness in exploiting future opportunities, and includes identifying underserved client needs and assessing the company’s resources. It also analyzes the competitive advantages of the business and identifies target markets.
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  • What is the economic meaning of demand?

    Q: What is the economic meaning of demand?

    A: In economics, demand is a measure of how much buyers want or need a product. For example, consumers may collectively avoid buying a particular product because they don't understand it or don't believe it has value, resulting in low demand.
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  • What are the imports and exports of Monaco?

    Q: What are the imports and exports of Monaco?

    A: Monaco exports textiles, manufactured products and art products. The principality imports food, chemicals and transportation products. Monaco's import industry is smaller than its export industry. As of 2014, the area's largest trading partners were countries in the European Union. Monaco also trades with the United States and China.
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  • What are England's main exports?

    Q: What are England's main exports?

    A: England's main exports include fuels, beverages, tobacco, chemicals and food. England primarily exports to the United States, Germany, the Netherlands, Ireland and France.
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  • What is the definition of urban decline?

    Q: What is the definition of urban decline?

    A: Urban decline is the deterioration of a city as a result of poor maintenance and lack of investment. The characteristics of urban decline include increased unemployment rates, decreased economic performance, and poor housing and health facilities.
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  • Why did the savings and loan crisis happen?

    Q: Why did the savings and loan crisis happen?

    A: The savings and loan crisis of the 1980s occurred when the government loosened regulations on savings and loan institutions, allowing them to diversify into riskier and more profitable financial investments. This resulted in a massive increase in real estate construction, especially in markets like Texas. When there was not enough demand for these new constructions, and loans began to fail, the industry found itself in financial peril.
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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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  • What are three types of consumers?

    Q: What are three types of consumers?

    A: The three types of consumers in the animal kingdom are carnivores, herbivores and omnivores. Carnivores eat only meat. Herbivores eat only plants, while omnivores need to consume both plants and meat to satisfy their dietary requirements.
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  • What role do banks play in a nation's economy?

    Q: What role do banks play in a nation's economy?

    A: Banks play an important part in a nation's economy by providing a safe foundation for individuals and businesses to invest or deposit their money, which allows the bank to use the money in its possession for loans. The ability for the public to receive these loans enables them to make purchases, which drives the economy at different levels.
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  • What is a macro theory?

    Q: What is a macro theory?

    A: In academics, macro theories attempt to explain the entirety of a subject in general or broad terms. This is in contrast to micro theories, which focus in detail on more specific elements of the discipline.
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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 are the advantages and disadvantages of globalization?

    Q: What are the advantages and disadvantages of globalization?

    A: The advantages of globalization include employment and education while the disadvantages include loss of culture and health issues. Globalization brings countries together to trade and do business with each other.
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  • What is economic instability?

    Q: What is economic instability?

    A: Economic instability refers to a community or nation experiencing financial struggles due to inflation, consumer confidence issues, unemployment rates, and rising prices. Economic instability affects businesses' ability to thrive, the cost of living, and the physical, emotional and financial well-being of consumers and families.
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  • What are the drivers of globalization?

    Q: What are the drivers of globalization?

    A: The primary drivers of globalization are rapid advancements in technology, culture, economics and politics. With each passing year, the speed at which transactions take place and the spreading influence of cultural forces serve to integrate international societies. The most prominent driver of this trend is the advancement of technology.
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  • What are the positive impacts of tourism?

    Q: What are the positive impacts of tourism?

    A: Increased opportunities for business income and employment are primary economic advantages gained from tourism. Visitors often come with the intent of spending money on food and lodging, entertainment and souvenirs. Companies providing products and services that appeal to tourists see greater income than they would without the tourists.
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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 kind of economy does Indonesia have?

    Q: What kind of economy does Indonesia have?

    A: Indonesia has a mixed economy, characterized by a combination of large private conglomerates and state-owned enterprises. It is part of the CIVETS group of countries, along with Columbia, Vietnam, Egypt, Turkey and South Africa, which is expected to account for half of all economic activity by 2020.
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