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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?
Which factor determines who a society will produce goods and services for?
The primary factor that determines who a society will produce goods and services for is the allocation of resources based on demand and needs within the economy. This involves considerations such as consumer preferences, income distribution, and market dynamics. Additionally, cultural values and government policies can influence production decisions, prioritizing certain groups or sectors over others. Ultimately, the interplay between supply and demand shapes the target audience for goods and services.
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.
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
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.
A society based on the woman's family line?
a society based on the women's family line?
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.
What determines the precision of a calculated based on measurements?
the precision of the least precise measuement
Nomadic society and authority was based on what kind of organization?
Nomadic society and authority was based on tribal law and customs.
Why is the term limiting used to describe the limiting reactant?
The term "limiting" is used to describe the reactant that is completely consumed in a chemical reaction, thus limiting the amount of product that can be formed. It determines the maximum amount of product that can be produced based on its stoichiometry and quantity.
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.
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.
