Economics Questions

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Economics Questions
Questions #2
A Knowledge worker is specialized form of human capital that is constituted of the senior-level labor force in the society who apply analytical and theoretical skills and knowledge acquired through formal education to design and develop new products and services in the society. Knowledge workers play a significant role in the society. As such, knowledge workers are the drivers of a country’s economy through expansion of business, provision of expert services and production of high-quality consumer goods to the society. Despite the advantages associated with the increased number of social workers in the society, it still has some negative implications in the society which include loss of employment of employment opportunities to the skilled workers, a decline in wages and loss of society interrelation through employment relocation as a result of increased knowledge workers in the society.
Question #5
In a command economic system, the country’s economy is wholly controlled and run by the government while a mixed economy is a form of economic system in which it contains the attributes of both the capitalism and socialism markets. It contains the mixed characteristics of command and free market economy. On the other hand, a transitional economy is a form of an economic system that has undergone structural transformations from a centrally planned economy to a market economy. In a person…