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Mass production resulted in?
Reduced prices of goods.
Is when a central authority controls prices and production of goods and services?
A command economy
When a central authority controls prices and production of goods and services.?
A command economy
Tariffs lower the price of foreign goods so the same kind of goods produced at home are more expensive?
Tariffs are often used by governments to control the prices of imported goods. They are normally imposed to make products made at home less expensive and thus support domestic manufacturing.
Tariffs lower the price of foreign goods so the same kind of goods are produced at home are more expensive?
Tariffs are often used by governments to control the prices of imported goods. They are normally imposed to make products made at home less expensive and thus support domestic manufacturing.
What government sets national production goals and prices of goods?
A government that sets national production goals and prices of goods typically operates under a command or planned economy. In such systems, the state controls major aspects of economic activity, including production levels and pricing, to achieve specific social or economic objectives. Examples include socialist or communist governments, where the central authority directs resources to meet national needs and priorities. In contrast, market economies rely on supply and demand to determine production and pricing.
The purpose of the War Production Board (WPB) was to .?
regulate the production of civilian goods and control inflation
What purpose of the War Production Board (WPB) was to what?
regulate the production of civilian goods and control inflation
What was the purpose of the war production board (wpb) was to?
regulate the production of civilian goods and control inflation
What was the purpose of the War Production Board (WPB)'?
regulate the production of civilian goods and control inflation
What wa the purpose of the war production board wpb?
regulate the production of civilian goods and control inflation
When the price of a capital good increases what happens to the prices of related consumer goods and services Why?
Prices increase due to the increase in production costs.
