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Economic products designed to satisfy people's wants and needs are called?
economic system
What satisfies peoples needs in the US economic system?
Free market .
What is an economic needs?
Economic needs are needs that touch on consumer's time and money.
What is the best definition of an economic system?
process by which people choose how to use limited resources in order to meet their needs
What is a private enterprise system enterprise system?
THE PRIVATE ENTERPRISE SYSTEM an economic system that rewards firms for their ability to identify and serve the needs and demands of customers. Another name of it is Capitalism.
Economic products designed to satisfy people's wants and needs are called?
economic system
What satisfies peoples needs in the US economic system?
Free market .
The economic policies of the colonies had to be regulated to meet the needs of England under which system?
mercantile system
What is an economic needs?
Economic needs are needs that touch on consumer's time and money.
What is private enterprise system?
THE PRIVATE ENTERPRISE SYSTEM an economic system that rewards firms for their ability to identify and serve the needs and demands of customers. Another name of it is Capitalism.
What is the best definition of an economic system?
process by which people choose how to use limited resources in order to meet their needs
What is a private enterprise system enterprise system?
THE PRIVATE ENTERPRISE SYSTEM an economic system that rewards firms for their ability to identify and serve the needs and demands of customers. Another name of it is Capitalism.
Marx believed his economic system would pay workers according to their needs?
true. Yes it is the basis of Marxist theory.
Who or what takes care of peoples' needs in the U.S. economic system?
Tranportation,Education,Social Security,Medicare,Public Safety
What is the primary goal of an economic system?
The primary goal of the economic system is to deliver to its citizens goods and services that they demand and aim for development for an increased standard of living.
Private enterprise system?
Contemporary Business, 2009 Update by Boone & Kurtz, defines the private enterprise system as "an economic system that rewards firms for their ability to perceive and serve the needs and demands of consumers".
How is the question of what goods and services will be produced determined under a custom based system and a planned economic system?
In a custom-based economic system, the production of goods and services is determined by traditional practices and cultural norms, often relying on historical methods and local needs. In contrast, a planned economic system relies on central authorities, such as government agencies, to make decisions about production based on set goals, resource allocation, and societal needs. While custom-based systems prioritize community traditions, planned systems focus on systematic control and coordination of economic activities.
