"Economy" means the total resources of a community or country. Therefore, economy compasses many things, such a money, the wealth of citizens, and the amount of commodities or products available for consumption. Although there are many ways of measuring the economy, the GDP, or gross domestic product, provides one of the best general overviews of the U.S. economy. The GDP measures the total output produced by people and businesses.Know More
There are four types of economic systems: traditional, market, command and mixed. In a traditional economy, the economic system remains the same from generation to generation. On the other hand, a market economy is constantly changing. A market economy relies on the demand for products and adjusts according to purchasing trends. In turn, the price of products is determined by supply and demand.
In a command economy, the government controls economic activity, and the market trends are only reactive to the decisions of the government. A mixed economy involves some government control, but economic activity is also influenced by purchasing trends.
The U.S. has a mixed economy. The government regulates several different industries, but purchasing trends also play a central role in economic activity. Most industrialized countries also have a mixed economy.Learn more about Economics
According to New Geography, "think globally, act locally" is a slogan encouraging people to think about the global ramifications of their actions while making an effort to improve things locally. The phrase has been used in a variety of different fields and has many interpretations, but it is commonly associated with the environmental movement.Full Answer >
According to Dream Dictionary Now, dreaming about someone typically means the dreamer is thinking about that person frequently in real life. Because dreams reflect the thoughts and emotions of the dreamer, a dream about someone reflects strong feelings towards that person. A person in a dream can also demonstrate an aspect of the dreamer's personality.Full Answer >
In the legal system, the term "remand on bail" means that a defendant is released on bail with certain conditions, such as residency restrictions, according to HowToLaw. In the U.S. legal system, this arrangement is more often called release on conditions, according to Lawyers.com.Full Answer >
When a person feels faint, it means there is an inadequate flow of blood to the brain temporarily according to the Mayo Clinic. Feeling faint can be caused by many things including stress and anxiety.Full Answer >