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Economic decisions involve doing what with resources to produce goods and services for people to consume?
CasandRAWR
Allocating
Wiki User
∙ 15y ago
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How do you overcome scurvy?
Consume vitamin C.
What amendment allowed people to consume liquor legally?
19th Ameendment
What food was Confederate General Stonewall Jackson known to consume in battle?
lemons
Where concentration camp inmates forced to consume human feces?
Nor so recorded to my knowledge, but it was possible.
How much food can a human consume in one week?
As much as one wants. Me? I eat about 6 meals a day.
Economics decisions involve doing what with resources to produce goods and services for people to consume?
Allocating
What do economic decision involves with resources to produce goods and services for people to consume?
Allocating
Which social science is The study of the conservation of scarce resources while producing goods for people to consume?
economic
What is the economic rule that explains why you stop purchasing goods and services after you have consumed some?
The economic rule states that we will consume only while marginal benefit exceeds marginal cost.
What statement describes economic activity in a recession?
Consumer Spending Declines
Explain what is meant by the basic economic problem?
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom.The basic economic problems of an economy are given below:What to produce and how much to produce?How to produce?For whom to produce?Problem of fuller utilisation of resources.Problem of efficiency in utilisation of resources.Problem of economic growth.
What is the economic rule that explains why you stop purchasing goods and services after you haved consumed some?
The economic rule states that we will consume only while marginal benefit exceeds marginal cost.
Does economic growth solves the problem of scarcity?
Yea of course....its due to economic growth goods and services are produced at large and hence fight the problem of scarcity as everyone will be able to consume goods
Describe the main tasks faced by an economic system.How these tasks can be solved?
Some of the main tasks faced by an economic system are: What goods to produce? What combination of inputs to use? How to use resources? Present time versus future Who will consume? How to maintain economic growth?
The circular flow of economic activity is characterized by?
How people produce (make money) and consume (spend money).
Why do different countries consume different amounts of renewable and nonrenewable resources?
They consume different amounts of renewable and nonrenewable resources because there countries are different and because they don't have the same renewable and nonrenewable resources
What are the reasons why you study economics?
So you can understand how the economy's work.
