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Under what economic system do businesses primarily consider the demand for their goods?
Wiki User
∙ 14y ago
A market-based economy.
Wiki User
∙ 14y ago
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When trying to decide what to produce businesses will lok at the demand for their goods?
Businesses will look at the demand or potential demand for their goods when deciding what to produce. They will consider both immediate and future demand.
What is a true market economy?
Supply and demand influences the economic decisions of businesses and individuals.
What is an economic system in which production of goods and services is determined by demand from consumers?
A market economy is an economic system in which the production of goods and services is determined by the demand from consumers. Prices are set by supply and demand in the market, and businesses respond to consumer preferences in order to maximize profit.
Consider the demand function and the supply function what is the market equilibrium?
answer to this question can be found in any basic economic book.
What was the primary reason that slavery became more widespread?
Slavery became more widespread primarily due to the increased demand for labor in agriculture and industries that emerged during the colonial period, as well as the economic benefits that slave labor provided to landowners and businesses. The transatlantic slave trade also played a significant role in supplying enslaved individuals to meet this growing demand for labor.
When trying to decide what to produce businesses will look at the demand for their goods.?
When trying to decide what to produce, businesses will look at the demand for their goods.
What are the chief variables in demand forecasting?
The chief variables in demand forecasting include historical sales data, market trends, consumer preferences, economic conditions, seasonality, and competitive factors. These variables help businesses predict future demand for their products or services accurately.
Distinguish between industry demand and firm demand?
Industry demand is subject to genera economic conditions. Firm demand is determined by economic conditions and competition
Why was there a demand for slaves?
There was a demand for slaves primarily for economic reasons, such as plantation agriculture and labor-intensive industries. Slaves were seen as a cheap source of labor that could be exploited for profit. Additionally, the ideology of white supremacy and the perception of Africans as inferior contributed to the demand for slave labor.
Economic system which people and privately owned companies own basic and non basic businesses?
Capitalism
What is the definition of Economic Demand?
no answer
Why do businesses might want to create demand?
Its Simple! When Businesses Will Create Demand, Consumers Will purchase their Goods Or Services; In Result, Their Will Increase Their Sales & Profit.
