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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.
What else can I help you with?
What good and services to produce?
What good and services to produce?
What is the use of resources and machinery to produce goods and services?
good
What is good market?
businessess produce goods and services and sells them to households
What is a system people use to produce good and services?
It's an economy
What goods and services did the early colony produce?
they produced something good
What are the basic problems of economics?
What to produce? A nation must determine what good or services that they want to produce. How many and when?How to produce? Who will do the production, the resources and what production techniques they will use.For whom to produce? Who will gets the services and who will buy the goods produces.
What is a manfactured good that is used to produce other good and services called an economic want or a capital resource?
RESOURCE?
What is a capital good?
Tool, equipment, or other manufactered good used to produce other goods and services; a factor of production.
What is capital good?
Tool, equipment, or other manufactered good used to produce other goods and services; a factor of production.
What is a manufactured good that is used to produce other goods and services called an economic want or a capital resource?
Capital
What are the four basic questions of economy?
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?
Why does the United States import good and services?
Often because they are cheaper to import then to produce locally because of high labor costs.
