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What four basic decisions does the economic system help us make?
Wiki User
∙ 7y ago
1. What goods and services should be produced.
2. How goods and services should be produced.
3. Who should have the goods and services produced and how much is the cost.
4. How much of these goods and services should be produced.
Wiki User
∙ 7y ago
Wiki User
∙ 12y agofirst they should have the stuff they need then the extra stuff. because if the stuff does not leave the shop it is not going anywhere.
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What do all three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What is a traditionalist-based economic system?
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
What are the four basic types of economic systems?
markets
What are the Four basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
What do three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What do all three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What is a traditionalist-based economic system?
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
What are the four basic types of economic systems?
markets
What are the Four basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
How many economic questions does a country's economic system provide the answers for?
Three aplus answer
What are the Functions of economic system?
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
What are the functions economic system?
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
What are the four basic components to an AC system?
CompressorCondenserExpansion valveEvaporator
What are the basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
What are basic rights within a private enterprise system?
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
