0
How are the three basic economic questions answered in the united stated be specific?
Wiki User
∙ 6y ago
What to produce, how to produce it, and who to produce it for (the 3 economic questions) are answered primarily by private companies in the U.S. Rarely does the government intervene in private sector production.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How are the economic questions of what to produce and how to produce decided in a market economy such as the US?
All three of the basic economic questions, in a market economy is answered by the market: What to produce: This is determined by what is demanded and what can be supplied (with the resources) in an economy. How to produce: This is determined by the resource available although theoretically, it should produce at the bottom point in the average cost curve. To whom to produce: Although not stated in the question, this is still a fundamental question in an economy. In a market economy, this question is answered by the demand and supply: The good is produced for all those who is willing and able to buy that good at a given price (determined by the demand and supply.)
What type of economic system does Egypt have?
mixed I was just looking for this too!Egypt's economic system is market-oriented. Market-Oriented is a business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of the customers, through its own or acquired products. :)
Who was Adam smith and what did he write and believe?
Adam Smith wrote the first major explanation of Laissez-faire capitalism. He stated that nations would gain wealth if they allowed free economic competitions for their citizens. He believed that workers' wages should also rise so that they could becomeconsumers, thus creating demand.
What is Mesopotamia's economic system?
The ancient systems of Mesopotamia are similar to the feudal societies that would develop in Europe centuries later. in Such systems, the government which usually is the local warlord, prince, king, government official, or even high priest of a pagan temple depending on which stated ruled the lands and granted business charters to people.
What is united stated largest export?
Production machinery
Why you don't answer anything. you just pass the buck to some site and get paid for the click.?
Questions that are not answered are usually stated in a way that is difficult to understand. Questions that are well worded, and allow us to understand what the question is, are almost always answered within a reasonable amount of time.
How are the economic questions of what to produce and how to produce decided in a market economy such as the US?
All three of the basic economic questions, in a market economy is answered by the market: What to produce: This is determined by what is demanded and what can be supplied (with the resources) in an economy. How to produce: This is determined by the resource available although theoretically, it should produce at the bottom point in the average cost curve. To whom to produce: Although not stated in the question, this is still a fundamental question in an economy. In a market economy, this question is answered by the demand and supply: The good is produced for all those who is willing and able to buy that good at a given price (determined by the demand and supply.)
Was a new economic philosophy that stated that a nation's economic strength depended on keeping and increasing its gold supply?
Capitalism was a new economic philosophy that stated that a nation's economic strength depended on keeping and increasing its gold supply.
What are cable connectors made from?
There are a wide variety of cable connectors and they are made of many different types of materials. If a specific cable connector is stated, the material that it made from can be identified and the question can be answered.
What percentage of families in the world earn over 50000 a year?
We can not answer your question because you have not stated what currency the 50000 a year is in. Most countries have their own currency and this would change the answer. To help us answer questions for you please make your questions clear and specific.
What igneous rock has the most crystals?
This question is poorly stated and therefore can't be answered.
Is homogeneous uniform distribution?
Your question cannot be answered as stated. Please explain further.
How do you spell another word for said?
Answered, replied, stated, explained, shouted, muttered.
Do you have a picture of a voodoo religious amulet or ritual necklace?
The question is not stated in a form that can be answered.
What statement about the black migration of the 1920s is true?
This question is incomplete and can't be answered as it is stated.
Is it true that a question well stated is a question half answered?
Yes, there is truth to this old saying. If you know enough to be able to ask the right questions and word them the right way, then you are halfway there. There is no way to find the answer if you have no clue what the answer would look like.
Does canned asparagus have the same effect?
Have the same effect as what? This is an incomplete sentence and cannot be answered as stated.
