The basic economic theory states that "When there is demand efforts will be made to satisfy this demand by virtue of supply." Now in an economic system the consumer dictates the demand and so the supply has to satisfy the demand.So the suppliers have to model their products and services which corresponds to demands of the consumers.
Goods and services are produced for consumers . What the consumer wants, the entrepraneur or company will give..
Cuba Manufactures Steel, Pharmcuticals & Consumer goods
Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.
Turning luxuries into necessities. :)
1.price of good and services 2.price of goodsand services in relation to other goods and services 3.taste and refrences 4.income
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, consumer)
Goods and services are produced for consumers . What the consumer wants, the entrepraneur or company will give..
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
Cuba Manufactures Steel, Pharmcuticals & Consumer goods
Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.
Goods or services bought by a consumer are bought in the consumer market. The consumer market includes fast moving consumer goods, consumer durables, soft goods and services.
Turning luxuries into necessities. :)
1.price of good and services 2.price of goodsand services in relation to other goods and services 3.taste and refrences 4.income
Consumers determines what goods and services are produced.
The answer is D. Assuming the options are: A. Goods are generally more expensive to the consumer. B. Goods and services are often sold by the consumer. C. Services are usually provided at a distance while goods are produced locally. D. Goods are physical while services are intangible.
consumer- Purchasing goods and services producers-Providing goods and services worker-Making goods and services
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?