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Government choice between making military goods or consumer goods?
Wiki User
∙ 12y ago
guns or butter
Wiki User
∙ 12y ago
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What is an expression for the government's choice between making military goods or consumer goods?
You are likely referring to GUNS VERSUS BUTTER MODELsimple production–possibility frontier. It demonstrates the relationship between a country's investment in defense and civilian goods being inverse. A country has to choose between the two options when spending its money, which is finite.
What is the purpose of free enterprise?
to give the consumer freedom of choice
What are consumer taste and preferences?
Consumer preference refers to listing alternatives based on several ratings until they result in a choice. Consumer taste refers to what consumers like to buy.
What dictates which goods and service producers should or should not create?
Consumer choices
Advantage of mixed economy?
Advantages include: State provides the essential services, Competition keeps prices low, Consumer choice and Inefficient business behavior controlled. A mixed comprises of Some private businesses, driven by profit. Some controlled by government.
What is the government choice between making military goods and consumer goods?
guns or butter
What is an expression for the government's choice between making military goods or consumer goods?
You are likely referring to GUNS VERSUS BUTTER MODELsimple production–possibility frontier. It demonstrates the relationship between a country's investment in defense and civilian goods being inverse. A country has to choose between the two options when spending its money, which is finite.
What measures has government taken to protect the right of consumer choice?
a number of actions, such as imposing time limits on patents, looking at mergers from the standpoint of limiting consumer choice, and prohibiting unfair price cutting and other unfair business practices.
What does consumer choice mean?
A CHOICED CONSUMER IS ONE WHO KNOWS HIS OPTIONS AND CHOOSES RESPONSIBLY. Consumer choice is a theory of Microeconomicsthat relates Preferencefor consumption Good_(economics) and services to consumption expenditures and ultimately to Supply_and_demand. The link between personal preferences, consumption, and the demand curve is one of the most closely studied relations in economics. Consumer choice theory is a way of analyzing how consumers may achieve Equilibrium_(economics) between preferences and expenditures by maximizing Utilityas subject to consumer Budget_constraint.
What is the theory of consumers choice?
In microeconomics, the theory of consumer choice relates preferences (for the consumption of both goods and services) to consumption expenditures; ultimately, this relationship between preferences and consumption expenditures is used to relate preferences to consumer demand curves.
What has the author Ravi Dhar written?
Ravi Dhar has written: 'Consumer choice between hedonic and utilitarian goods'
Is health insurance reimbursement for alternative medicine increasing consumer choice or simply a matter of providing less expensive healthcare treatments?
Say what?! Increase consumer choice? Holler, why would anybody increase consumer choice in the first place?!
How is consumer choice important in agriculture?
Consumer choice is important in agriculture because it helps in providing timely responses to unfolding markets to farmers.
What is the difference between consumer sovereignty and freedom of choice in a market system?
These are two different concepts. The consumer sovereignty refers to the precedence a merchant gives buyers to determine the product market. However, freedom of choice, considers other markets and the consumers individual decision after comparison.
Why is the military a good choose?
Military is not a good choice.
Is Consumer Cellular a good cell phone choice?
If you are wondering if a consumer cellular is a good cell phone choice because you are tired of the expensive cell phone bills and contracts, then yes. It is a good cell phone choice.
What is the purpose of free enterprise?
to give the consumer freedom of choice
