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How production possibility curve can solve the basic problem of an economy?
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How production possibility curve helps in solving central problems of an economy?
How does ppc help in solving basic economic problems
How a mixed economy uses market mechanism to solve basic economy problem?
A mixed economy can use the price mechanism to solve basic economy problem by eliminating a surplus if there is a surplus of goods causing the problem. This will cause the market price of those goods to drop. The price mechanism can also be used to expand suppliersâ?? production of a certain good when prices are rising because there is a high customer demand for that good.
Discuss whether the price mechanism is an effective way to solve the basic economic problem?
Price mechanism is an effective way to solve the basic economic problem. The price of a product is what will determine the demand and this will influence the production output which directly affects the economy.
In this type of economy the government owns the basic means of production?
Socialism
In what type of economy the government owns the basic means of production?
A Communist Economy. ------ Socialism
How production possibility curve helps in solving central problems of an economy?
How does ppc help in solving basic economic problems
How a mixed economy uses market mechanism to solve basic economy problem?
A mixed economy can use the price mechanism to solve basic economy problem by eliminating a surplus if there is a surplus of goods causing the problem. This will cause the market price of those goods to drop. The price mechanism can also be used to expand suppliersâ?? production of a certain good when prices are rising because there is a high customer demand for that good.
Discuss whether the price mechanism is an effective way to solve the basic economic problem?
Price mechanism is an effective way to solve the basic economic problem. The price of a product is what will determine the demand and this will influence the production output which directly affects the economy.
In this type of economy the government owns the basic means of production?
Socialism
In what type of economy the government owns the basic means of production?
A Communist Economy. ------ Socialism
How can the basic economic problem solved in a capitalist economy?
It is the price mechanism
What are the problems of kharif crops?
The problem of kharif crops is that it s production is less and farmers earn less. This is the basic problem of kharif crops The problem of kharif crops is that it s production is less and farmers earn less. This is the basic problem of kharif crops
What are the basic controllable variables of a production planning problem?
Production Rate, Work Force Levels, and Inventories.
In a socialist economy how are the basic problems of scarcity and allocation of limited resources addressed?
By production for use or need.
The production possibilities curve illustrates the basic principle that?
everyone has a possibility of being productive but most likely nothing will get done.
How market forces help to solve basic economic problems?
how does the market mechanism solve the basic problem of free market economy?
How are economic questions answered in a command economy?
discuss the basic economic problem?
