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How the overproduction of goods in the 1920s affected consumer prices and the economy?
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How did overproduction cause farm prices to go down?
Overproduction caused farm prices to go down because when there is more than enough product, the demand goes down. Prices only go up when demand goes up.
What are the advantages of using prices to distribute economic products?
1. Prices in a competitive mart economy are neutral because they favor neither the producer nor the consumer. 2. Prices in a market economy are flexible. 3. Prices have no cost of administration. 4. Prices are something that we have known about all our lives. (All info was straight out of an eco. textbook)
How did the McCormick reaper affect the economy?
The McCormick Reaper affected the economy by allowing farmer to have large, and more efficient harvests. This in turn decreased prices and increased goods.
How did overproduction cause the wall street crash?
overproduction caused the wall street crash because in the late 1920s, more goods were being produced than people who could afford to buy them. As a result companies decreased their prices because there was more supply than demand theirfore american industries made huge lossed. When the demand for consumer goods dropped , some workers became nemployed which meant they could no loger afford to by consumer goods.
What are the factors of demand curve shift?
Shift in demand curve is affected by the change in prices of substitutes, change in consumer's behaviour, tastes and income etc.
Improved mass- production techniques affected the American economy of the 1920s by?
reducing prices of consumer goods.
Explain how the conflict in sri lanka affected its economy?
The conflict of Sri Lanka affected the economy in a few ways. It effected the prices, product and land.
How has the rising gas prices affected your personality as a consumer?
Well as gas prices are no longer rising but actually rapidly dropping it has made me extremly wary of the state of the economy. What most people do not realize is when gas prices are high, the economy is doing very well. As gas prices are dropping... it is simply reflecting the tragic state our economy is actually in. It makes me want to travel less, buy less and consume less. BUT THATS JUST ME!
How did overproduction cause farm prices to go down?
Overproduction caused farm prices to go down because when there is more than enough product, the demand goes down. Prices only go up when demand goes up.
Why did many US farmers fail to benefit from the economic prosperity of the 20's?
overproduction kept farm prices low
How did the war affect the Europe economy?
The war in Europe affected the American economy by creating a massive increase in US industrial production as well as stable prices.
How did the McCormick reaper affect the economy?
The McCormick Reaper affected the economy by allowing farmer to have large, and more efficient harvests. This in turn decreased prices and increased goods.
What are the advantages of using prices to distribute economic products?
1. Prices in a competitive mart economy are neutral because they favor neither the producer nor the consumer. 2. Prices in a market economy are flexible. 3. Prices have no cost of administration. 4. Prices are something that we have known about all our lives. (All info was straight out of an eco. textbook)
How has Cleveland been affected by the current economy?
Cleveland has been affected by the current economy poorly because people woll not buy things for high amount of prices which they are selling for so no one there will buy anything causing worsing.
How did overproduction cause the wall street crash?
overproduction caused the wall street crash because in the late 1920s, more goods were being produced than people who could afford to buy them. As a result companies decreased their prices because there was more supply than demand theirfore american industries made huge lossed. When the demand for consumer goods dropped , some workers became nemployed which meant they could no loger afford to by consumer goods.
What are the factors of demand curve shift?
Shift in demand curve is affected by the change in prices of substitutes, change in consumer's behaviour, tastes and income etc.
List 3 advantages of the mixed economy?
There is a variety of goods and sevices that the consumer could choose from. There normally is not monopoly. Competition keeps the prices low.
