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What best describes the economic effect that results from a government budget surplus?
Overall demand decreases reducing the incentive for producers to increase production
What is the main force behind the decisions made by producers in a free market scociety?
Demand demand demand
What best describes the economic effect that results from the government having a budget-surplus?
Overall demand decreases, reducing the incentive for producers to increase production
How does price serve as an incentive in a market economy?
In a market economy, price serves as a crucial incentive by signaling the value of goods and services to both consumers and producers. When prices rise, it indicates higher demand or lower supply, encouraging producers to increase production to maximize profits. Conversely, falling prices suggest lower demand or excess supply, prompting producers to cut back. This dynamic helps allocate resources efficiently, guiding economic decisions and fostering competition.
What is Rationing as a function of price mechanism?
This is when consumers and producers respond to information( signalling) and incentive provided by the prices then scarce resources will be rationed between competing uses
2 Explain why producers have a big incentive to use cost benefit analysis and other tools of financial management?
Cost benefit analysis and other management tools will help businesses avoid problems. When they assess a situation on paper, they are able to see potential problems and avoid losing money.
What best describes the economic effect that results from a government budget surplus?
Overall demand decreases reducing the incentive for producers to increase production
What describes the incentive for producers to conduct market research?
the desire to know what consumers want
What best describes the incentive for producers to conduct market research?
The desire to know what consumers want.
Which of these producers provide only a service?
financial advisors
What is the main force behind the decisions made by producers in a free market scociety?
Demand demand demand
What best describes the economic effect that results from the government having a budget-surplus?
Overall demand decreases, reducing the incentive for producers to increase production
What is the best describes the economic effect that results from the government having a budget surplus?
Overall demand decreases reducing the incentive for producers to increase production
How does price serve as an incentive in a market economy?
In a market economy, price serves as a crucial incentive by signaling the value of goods and services to both consumers and producers. When prices rise, it indicates higher demand or lower supply, encouraging producers to increase production to maximize profits. Conversely, falling prices suggest lower demand or excess supply, prompting producers to cut back. This dynamic helps allocate resources efficiently, guiding economic decisions and fostering competition.
What is Rationing as a function of price mechanism?
This is when consumers and producers respond to information( signalling) and incentive provided by the prices then scarce resources will be rationed between competing uses
Why do Collectives in the Soviet Union were inefficient producers of agricultural products?
The soviet government paid farmers and told them what to produce; thus providing very little incentive.
What has the author William B Wallace written?
William B Wallace has written: 'Business leadership, staff development and financial management' -- subject(s): Insurance companies, Management, Personnel management 'Doing better' -- subject(s): Life insurance agents 'Developing multi-million dollar producers' -- subject(s): In-service training, Insurance companies, Agents, Insurance, Personnel management
