An economic strategy is one which requires setting up of economic motives in order to have economic gains. Requires the setting of priorities, investments, efficiency in doing business.
As culture is found to affect economic development. Cultural traits that stimulate individual motivation also help to analyze factors that can be commonly recognized by economic growth. Cultural tourism that is includes indigenous tourism and other social-economic assets.Learn more about the Leaders who want their community to flourish economically.
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Why do monopolists engage in price discrimination
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9. In a ceremony, out of 800 participants, 620 drank milk, 350 drank tea and 50 did not
drink any of them. Find out how many people drank the both drinks using a Venn
diagram?
Answer:
220
Explanation:
Let M represent the amount of people that drank milk, let T represent the people that drank tea.
Let x represent the people that drank both milk and tea.
Therefore. the amount of people that drank only milk = n(M ∩ T') = 620 - x
the amount of people that drank only milk = n(M' ∩ T) = 350 - x
The amount of people that did not drink any of them = n(M ∪ T)'
Since 800 people participated, Hence:
620 - x + (350 - x) + x + 50 = 800
620 + 350 + 50 - x - x + x = 800
1020 - x = 800
x = 1020 - 800
x = 220
Therefore 220 people drank both drinks.
How does an increase in trade affect the cultures involved? Check all that apply.
□ A. More peaceful relationship.
□ B. Exchange of ideas.
□ C. Exchange of people.
□ D. Import/export of respective cultures.
Answer: all are all correct
Explanation:
When countries begin or increase trade, culture is effected through cultural exchange. There will be a more peaceful relationship, exchange of ideas, exchange of people and import and export of respective cultures.
What is a cultural exchange?A cultural exchange is simply sharing any parts of our culture with someone from a different background to us, and vice versa. Culture is described as "the ideas, customs, and social behavior of a particular people or society," therefore a cultural exchange is simply sharing any characteristics of our culture with someone from a different background to you.
It is the process of transferring ideas from one culture to another, including religious systems, beliefs, ideas, technology, and so on. Cultural interaction is an unavoidable component of business relationships. Through person-to-person contact, people can obtain a greater insight and knowledge of another country, its culture, customs, and day-to-day practices.
Therefore, all the options are applicable how an increase in trade affect the culture involved.
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