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What is a trait of a market economy?
Consumers often have many choices of goods to buy.
What is the term for how many consumers want the goods?
The term for how many consumers want goods is "demand." Demand refers to the quantity of a product that consumers are willing and able to purchase at various price levels. It is a fundamental concept in economics that helps to determine market prices and the allocation of resources.
In this type of economy the question of how many goods will be produced and supplies is not made by business?
In a socialist economy, the question of how many goods will be produced and supplied is not made by business. This decision is made by the government in this type of economy.
How many goods must be supplied to achieve equilibrium?
The number of goods that must be supplied to achieve equilibrium depends on the specific market dynamics and the intersection of supply and demand curves. Equilibrium is reached when the quantity supplied equals the quantity demanded at a particular price. Therefore, the exact quantity of goods required varies by market conditions, consumer preferences, and production capabilities. Analyzing these factors will provide insight into the equilibrium quantity for a given market.
In this type of economy the question of how many goods will be produced and supplied is not made by businesses.?
Planned (command, centrally planned, or controlled) economy
In this type of economy the question of how many goods will be produced and supplied is not made by business?
In a socialist economy, the question of how many goods will be produced and supplied is not made by business. This decision is made by the government in this type of economy.
What is a trait of a market economy?
Consumers often have many choices of goods to buy.
In this type of economy the question of how many goods will be produced and supplies is not made by business?
In a socialist economy, the question of how many goods will be produced and supplied is not made by business. This decision is made by the government in this type of economy.
The prosperity of the 1920s caused many consumers to become overconfident in the economyOne result of this overconfidence was that?
Many Americans purchased goods on credit.
In this type of economy the question of how many goods will be produced and supplied is not made by businesses.?
Planned (command, centrally planned, or controlled) economy
What economic indicators would be most useful for figuring out how many goods are being sold to consumers?
Retail sales
Why is it important for the supplier of goods and service to have information about price elasticity of demand?
In that way the supplier of goods and services, will be able to know how many goods they must produce for the quantity demanded in the economy. They need to know how much price affects the consumers.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
What goods did Africa supplie to rome?
North Africa was the breadbasket of the empire. Egypt supplied half of the grain imported by the city of Rome. Tunisia was the second most important grain producing area of the Empire. Egypt also supplied papyrus, ivory and granite. From the interior, many animals were supplied for the arenas also.
What is the role of comsumers?
To consume goods and services. Fortunately, as humans we are more than consumers. Defining people as "consumers" risks dehumanization. We have many more important roles and those who forget that are missing most of what is really important in life.
Why did the cost of living decreased after the civil war?
a: sanitation and medical care improved b: consumers wanted imported goods. c: technology made manufacturing more efficient
What role does government have in the U.S market economy?
It doesn't decide which or how many goods are produced, or it doesn't set prices or tell people where to work. The government doesn't play much of a role at all.
