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 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 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 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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  • What are global trade patterns?

    Q: What are global trade patterns?

    A: Global trade patterns track ever-changing pathways in the exchange of capital, goods and services among nations. The decades leading up to 2014 saw the rise of regional trading blocs, reduced industry in many nations, the increased participation of former communist countries, and the rising stars of China and India.
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  • What is the paradox of thrift?

    Q: What is the paradox of thrift?

    A: The paradox of thrift is an economic theory that asserts that individuals choosing to save rather than spend their money can make a recession worse, and that individual saving can collectively be harmful. The paradox of thrift, like many economic theories, is not universally accepted as true.
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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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  • How does monetary policy affect unemployment?

    Q: How does monetary policy affect unemployment?

    A: Monetary policy, established by the federal government, affects unemployment by setting inflation rates and influencing demand for and production of goods and services. Additionally, having stable prices and high demand for products encourages firms to hire workers, which reduces rates of unemployment. In the United States, the Federal Reserve holds responsibility for instituting a national monetary policy. Sometimes, such as during economic downturns, the Federal Reserve asserts its control by implementing long-term and short-term measures to stimulate economic production.
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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 is the importance of economics?

    Q: What is the importance of economics?

    A: Economics and economic education are important for providing people with valuable insight into how foreign and domestic markets operate, which allows them to make reasoned and rational choices for short-term and long-term financial benefits. Studying economics also allows people to learn how to manage and most effectively use scare and finite resources such as time and money. Studying economics equips people with varying levels of financial literacy, which allows them to effectively manage their own finances and even advise others in financial management and planning, too.
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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 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 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 the three types of economic resources?

    Q: What are the three types of economic resources?

    A: The three types of economic resources are commonly known as human resources, natural resources and capital resources. Economists often refer to these three resources as the factors of production.
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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 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 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 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 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 drives globalization?

    Q: What drives globalization?

    A: Globalization is driven by international trade and investment and aided by information technology. It is the process of interaction and integration among the people, companies and governments of different nations, states Globalization 101, a website of the Levin Institute.
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  • What is the definition of net factor income from abroad?

    Q: What is the definition of net factor income from abroad?

    A: Net factor income from abroad is the amount of money made in a country other than one's legal home country, according to Investopedia. This term applies to income made by either an individual or a business and refers to income made abroad that is then sent back to the home country. This income can come in the form of wages or investments.
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