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How does the consumer influence what goods and services will be produced?
Wiki User
∙ 14y ago
The basic economic theory states that "When there is demand efforts will be made to satisfy this demand by virtue of supply." Now in an economic system the consumer dictates the demand and so the supply has to satisfy the demand.So the suppliers have to model their products and services which corresponds to demands of the consumers.
Wiki User
∙ 14y ago
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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..
What are the main goods and services produced in Cuba?
Cuba Manufactures Steel, Pharmcuticals & Consumer goods
Why is consumer sovereignty considered an advantage?
Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.
What are techniques that companies use to influence consumer demands for their goods and services?
Turning luxuries into necessities. :)
Factors that influence consumer demand for goods and services?
1.price of good and services 2.price of goodsand services in relation to other goods and services 3.taste and refrences 4.income
What are the three economic systems?
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, consumer)
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..
What are the four basic questions of economy?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
What are the main goods and services produced in Cuba?
Cuba Manufactures Steel, Pharmcuticals & Consumer goods
Why is consumer sovereignty considered an advantage?
Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.
Which market or markets are consumer goods and services bought into?
Goods or services bought by a consumer are bought in the consumer market. The consumer market includes fast moving consumer goods, consumer durables, soft goods and services.
What are techniques that companies use to influence consumer demands for their goods and services?
Turning luxuries into necessities. :)
Factors that influence consumer demand for goods and services?
1.price of good and services 2.price of goodsand services in relation to other goods and services 3.taste and refrences 4.income
What determines what goods and services are produced?
Consumers determines what goods and services are produced.
Which of the following is true about goods and services?
The answer is D. Assuming the options are: A. Goods are generally more expensive to the consumer. B. Goods and services are often sold by the consumer. C. Services are usually provided at a distance while goods are produced locally. D. Goods are physical while services are intangible.
Match the role with the actions taken by players in that role.?
consumer- Purchasing goods and services producers-Providing goods and services worker-Making goods and services
What are the four fundamental economic questions?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
