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What is the difference between grey and green economy?
A "gray (or grey) economy" or "gray market" is a part of the economy that is not fully accounted for in official accounting or statistics. It is a type of secondary market that was not the original intention of the manufacturer or buyer. It is similar to a "black market," only not illicit.A "green economy" is an economy that takes into account ecological and environmental factors. It attempts to offset the negative effects of human activities, tries to steer away from models based on fossil fuels, and focus on things like renewable energy.
What is the difference between monetarism and supply side economy?
They both hold a similar view that the economy should be left alone as much as possible. But monetarist theory suggests that the central bank should influence the economy by controlling the money supply to a particular end, while supply-side theorists advocate the government manipulating tax rates in order to stimulate savings and investment is the appropriate approach to economic success.
What kind of economy is Costa Rica?
Costa Rica has a free market economy similar to the US.
How are market economies similar to command economies?
The similarities between command economy and market economy include the following: both have - producers, consumers, retailers, goods, services, prices, incomes, distribution, money, labor, capital, technology,
Why is it so important to differentiate between these similar sounding terms of the change in supply and change in quantity supplied?
It is very important to differentiate between demand & supply since there are the market forces in which the present economy is running. The market forces will influence the prices of the products & services. In any economy market forces will play an vital role. If the gap between demand and supply increase drastically it leads to and bad position in any economy and thereby it leads to financial crisis.
