they have a governer to help make dicisions
What to produce
What to produce
what to produce
Demand will always force markets to make economic decisions to convert resources into goods and services. Without demand. There is any reason to convert the resources.
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
In market-based economies, markets determine prices which will answer the three economic questions
different people make different economic decisions
Europe became a global economic superpower by exploiting the resources of its colonies. Mercantilism was an economic system by which European countries benefited economically from their colonies.
Economic decisions are based on whether the decision is profitable or not. For instance, businesses make economic decisions about when to hire employees.
Power in countries refers to the ability of a government or ruling entity to govern effectively, make decisions, enforce laws, and maintain authority over its territory and population. It can be exercised through various means such as military, economic, political, and social influence. Power dynamics in countries can be influenced by factors such as leadership, institutions, resources, and public support.