0
What determines how much a product is demanded and how can the economy tell.?
Wiki User
∙ 15y ago
the industries and the president controls it and tells the economy
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How was the lower class affected by the economy in the 1920s?
They did not benefit as much as the middle and upper classes.
How does the government decide how much money to put into circulation?
Obama decides. And look where our economy is!
Why do people emigrate from Central America to the US?
better life, more opportunities, jobs, money, better future!
How is the American economy different today than it was in the early 20th century?
In the early 20th Century the American Economy was more industrial based. The American Economy in the 21st Century has seen an outsourcing of much of the industrial sector to economies that have "cheaper" labor. The current American Economy is more technologically and scientifically based.
Why was Germany's economy so much worse than other European countries?
Names of the holocaust
What type of economy is it when people decide what to produce how much of it to produce and how much to charge for the product?
Free/market economy
What kind of relationship does the demand curve have in relation to supply?
Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer.
What is the important of command economy?
Command economy is when the government determines what will be sold, how much will be made, and the price the item will be sold for. Although this may limit the growth of the country it does provide stability.
Who determines the prices in your economy?
The Chancellor of the Exchequer or other equivalent financial leader in the government determines tax, and the companies themselves charge as much as they think they can get away with, yet still being competitive.
What is quantity demanded?
Quantity demanded (QS) is the amount of a product or service wanted by the market. QS is corresponded to quantity supplied (QS) that regards how much of the what is wanted is actually offered. When QD equals QS the market is said to be at equilibrium.
Why do the actions of central banks have an important effect on the global economy?
Control of the money supply determines how much money is available for international trade.
What is supply and demand economy?
Supply is how much of the product an economy has. The demand is how much the people need the product. These two make the price. Let's say the supply is high and demand is low, the price would be low. If it was the other way around, price would be higher.
Explain briefly what is demand and supply curve?
Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much quantity of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand.
What is the difference between a free market and communist economy?
In a capitalist economy, production is determined by free market forces such as supply and demand. In a communist economy, the government determines which goods and services get produced and how much is available at any given time. Hope it helps!
What is one measure of how much value a nation's economy generates compared to the size of its population?
per capita gross domestic product
Challenges in economy?
When customers want something and stores don't have very much of that product the price goes way up!
In a planned economy of the following does the job of market forces in order to determine the outcomes?
In a planned economy, the government does the job of market forces in order to determine the outcomes.
