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What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
What is a society in which people have specialized jobs and must exchange goods and services they produce for goods and services produced by other people?
A free market society.
What are the three coordination problems any economic system must solve?
What, How and for whom goods and services should be produced.
Why are goods produced?
Goods are produced to meet a demand. Consumers want the goods, they are willing to pay, the supplier must produce the goods or risk loss.
Definition of capital?
In economics, capital, capital goods, or real capital are those already-produced durable goods that are used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process. Capital is distinct from land in that capital must itself be produced by human labor before it can be a factor of production. In a fundamental sense, capital consists of any produced thing that can enhance a person's power to perform economically useful work.
What three basic economic questions must be answered by every society?
What goods and services should be produced?How should the goods and services be produced?Who should get the goods and services?
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
What is a society in which people have specialized jobs and must exchange goods and services they produce for goods and services produced by other people?
A free market society.
What are the three coordination problems any economic system must solve?
What, How and for whom goods and services should be produced.
How is production important in the provision of goods and services to consumers?
Production of goods is important for services and companies because companies must produce in mass what goods or services consumers will purchase. If customers do not wish to purchase a certain good or service, then it could cost a company mass amounts of money if they have produced it.
Why are goods produced?
Goods are produced to meet a demand. Consumers want the goods, they are willing to pay, the supplier must produce the goods or risk loss.
How can you promote nationalism?
we can promote nationalism by encouraging others to buy their own products .we must be proud of our own country and our own language especially those people who live in Philippines they must be proud because of their very brave heroes who did a very big job when they fought against the invaders ..
What good and services must be produced and in what quantities?
For what?
What are the acceptable goods and services that must be promised in a contract?
Fixed-pricecontract
Definition of capital?
In economics, capital, capital goods, or real capital are those already-produced durable goods that are used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process. Capital is distinct from land in that capital must itself be produced by human labor before it can be a factor of production. In a fundamental sense, capital consists of any produced thing that can enhance a person's power to perform economically useful work.
When a firm is considering how its goods will produced what must it first consider?
how to best use the land to which it has access
Once a firm knows what it should what must it then decide?
how it will produce the goods or services
