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Do individual consumers really have a voice in answering the basic four economic questions?
Yes, individual consumers have a significant voice in answering the basic four economic questions: what to produce, how to produce, for whom to produce, and how to allocate resources. Their preferences and purchasing decisions drive demand, which in turn influences what goods and services are produced. Through mechanisms like market demand and consumer feedback, individuals shape the economy by signaling to producers what is valued. However, the extent of their influence can vary based on market structures and regulatory environments.
Producers reacting to consumer choices provide most answers to the basic economic questions?
market
Producers reacting to consumer choices provide most answers to the basic economic questions in this type of economy?
market
What is the economic system of Austria?
Australia has a mixed-market economic system in which there is a mixture of control by the government and freedom of individual enterprise and in which the basic economic questions ...
When markets or governments make economic decisions about what goods and sevices their resources will be used to make what basic economic question are they answering?
In market-based economies, markets determine prices which will answer the three economic questions
Producers reacting to consumer choices provide most answers to the basic economic questions?
market
What is the economic system of Austria?
Australia has a mixed-market economic system in which there is a mixture of control by the government and freedom of individual enterprise and in which the basic economic questions ...
Producers reacting to consumer choices provide most answers to the basic economic questions in this type of economy?
market
When markets or governments make economic decisions about what goods and sevices their resources will be used to make what basic economic question are they answering?
In market-based economies, markets determine prices which will answer the three economic questions
How economic factors influences consumer's behavior?
how economic variables influences on consumer behavior
A nations plan for answering the key economic problems is called its economic?
Economic System
What three broad categories do economist use to classify all economic systems?
Economic system is some sort of arrangements regarding the production of goods and services to satisfy human wants and needs.Economist deals with three questions to classify all economic system,which are:*What to produce?*How to produce?*For whom to produce?By answering these three questions economists make any economic decision.
When markets and governments decide how wealth money and goods and services are distributed what basic economic questions are they answering?
I Would have to say what is being produced, how, whom and others can be decided after the what
What is the consumer for the economic system?
Both buys goods for consumption and uses goods and services.
What is a economic consumer?
The economic consumer is everyone because everyone consumes. If you drive a car you buy gasoline. If you eat you have to buy food. The list goes on. So everyone is a consumer.
Which economic indicator measure economic?
CPI (Consumer price index)
What is the definition of basic economic questions?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
