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Price determines the answers to the three basic economic questions?
There are three basic economic questions answered by price. Who will buy the goods and services produced? What goods and services need to be produced? How should these goods and services be produced?
How does economics work to determine the allocation of resources in society?
Economics determines the allocation of resources in society through the forces of supply and demand. When resources are scarce, individuals and businesses make choices about how to allocate them based on their needs and preferences. Prices play a key role in signaling the scarcity of resources and guiding decision-making. In a market economy, prices adjust based on supply and demand, leading to the efficient allocation of resources to where they are most valued.
Price determines the answers to the three basic economic questions through the interaction of what?
Price is determined based on supply and demand.
What is a custom based economy?
In a custom based economy, goods are produced traditionally. The method of production is passed down from parent to children and rarely changes.
IS it true or false that Karl Marx emphasized that a society's economic system was shaped by its value system?
Indeed Marx emphasis was on a value based society that supported inequality, based on an individual's social and economiv standing.
in a command economy decisions about which goods are produced are based on?
what the government decides is important for society (apex econ)
Price determines the answers to the three basic economic questions?
There are three basic economic questions answered by price. Who will buy the goods and services produced? What goods and services need to be produced? How should these goods and services be produced?
What determines who receives products in command economies?
the command system will determine for whom the product is produced. Again, the focus is on socially desirable objectives. The product can be allocated based on class, on a queuing process, on a reward system
A society based on the woman's family line?
a society based on the women's family line?
What polymer makes up our our characteristics color hair color)?
Melanin is the polymer that makes up our hair color. It is produced by melanocytes in the hair follicles and determines the color of hair based on the type and amount of melanin present.
Can you tell what something is justby touching it?
Yes, you can because its all based on what your brain determines. It's also what your skin feels and your brain determines what it is.
Nomadic society and authority was based on what kind of organization?
Nomadic society and authority was based on tribal law and customs.
What determines the precision of a calculated based on measurements?
the precision of the least precise measuement
What is the advantage of mountain based society?
What is the advantage of mountain based
Is a division of society by rank or class is called?
A class based society.
Nomadic society and authority was based upon what kind of organization?
Nomadic society and authority was based upon tribes or clans.
What determines which direction facilitated diffusion occurs?
The concentration determines the directions based on the net flux. The net flux moves from a higher concentration to a lower concentration.
