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Consumers influence the production of goods and services primarily through their purchasing choices and preferences. When consumers favor certain products, businesses respond by increasing the supply of those items to meet demand. Additionally, consumer feedback and trends can shape market offerings, prompting companies to innovate or alter their existing products. Ultimately, consumer behavior drives the market, guiding producers in their decisions about what to create and sell.
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What determines what goods and services are produced?
Consumers determines what goods and services are produced.
For whom are goods and services produced in a market economy?
Goods and services are produced for consumers . What the consumer wants, the entrepraneur or company will give..
In 1 or 2 sentences explain how consumers affect which goods and services are produced?
Consumers influence which goods and services are produced through their purchasing choices and preferences. When consumers demand certain products, businesses respond by increasing production to meet that demand, often adjusting their offerings based on trends and feedback to ensure profitability.
Which group of players use the goods and services produced in the game of economics?
Consumers.
How does international trade affect consumers?
Consumers have access to a greater variety of goods and services from other countries.
What determines what goods and services are produced?
Consumers determines what goods and services are produced.
For whom are goods and services produced in a market economy?
Goods and services are produced for consumers . What the consumer wants, the entrepraneur or company will give..
For whom are goods services produce in a market economy?
In a market economy, goods and services are produced for consumers.
In 1 or 2 sentences explain how consumers affect which goods and services are produced?
Consumers influence which goods and services are produced through their purchasing choices and preferences. When consumers demand certain products, businesses respond by increasing production to meet that demand, often adjusting their offerings based on trends and feedback to ensure profitability.
Which group of players use the goods and services produced in the game of economics?
Consumers.
How does international trade affect consumers?
Consumers have access to a greater variety of goods and services from other countries.
What is economics primarily concerned with?
The way goods and services are produced and provided to consumers, and used by them.
Why do consumers directly benefit from greater productivity?
Goods and services are produced faster and can be sold more cheaplyGoods and services are produced faster and can be sold more cheaply.It is easier to compare prices. Goods and services are produced faster and can be sold more cheaply.
How should goods and services be produced in a market economy?
A market economy has producers that grow, make or manufacture goods. These are then sold to middle men who wholesale the good to retailer that sell them to the consumers.
What are the relationship between goods service and consumers?
Goods are consumer wants and needs that are produced. Services are things that people pay for once and receive something. Consumers spend money on both.
How is production important in the provision of goods and services to consumers?
Production of goods is important for services and companies because companies must produce in mass what goods or services consumers will purchase. If customers do not wish to purchase a certain good or service, then it could cost a company mass amounts of money if they have produced it.
Why is consumer sovereignty considered an advantage?
Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.
