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Goods and services are produced through a combination of resources, including labor, capital, and raw materials, utilizing various production processes. The quantity produced depends on factors such as demand, technological efficiency, and the availability of resources. Businesses assess market needs to determine how much to produce, often guided by economic principles like supply and demand. Ultimately, the production decisions reflect the balance between maximizing profit and meeting consumer needs.
What else can I help you with?
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the economy.
What are the 3 basic economic questions?
The three basic economic questions are:What goods and services should be produced?How should the goods and services be produced?For whom should the goods and services be produced?
Manufactured goods needed to produce other goods and services are called?
Capital Goods.
What does economist mean by the term Land?
all Natural Resources used to produce goods and services.
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?
How much goods and services did the us produce in 2007?
About $140 billion
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the economy.
Do you believe Grenada resources is utilizing to produce goods and services?
i think there goods and services are excellent!!
What are the 3 basic economic questions?
The three basic economic questions are:What goods and services should be produced?How should the goods and services be produced?For whom should the goods and services be produced?
Manufactured goods needed to produce other goods and services are called?
Capital Goods.
What is the purpose of the firm?
To produce goods and services
What is a purpose of a firm?
To produce goods and services
For whom are goods services produce in a market economy?
In a market economy, goods and services are produced for consumers.
What does economist mean by the term Land?
all Natural Resources used to produce goods and services.
For whom do you produce goods and services?
That's easy, you produce them for customers.
