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Producers reacting to consumer choices provide most answers to the basic economic questions in this type of economy?
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∙ 14y ago
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Wiki User
∙ 14y ago
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Producers reacting to consumer choices provide most answers to the basic economic questions?
market
What type of economy best fits the description producers reacting to consumer choices provide most answers to the basic economic questions?
market
Are there parallels between the Great Depression and economic downturn today?
It's hard to know whether you mean to ask about the world economy, the American economy, or perhaps the economy of some other nation. I'm going to guess that you refer to the American economy, and focus my answer upon that.Although it would be foolish to deny the possibility that the economy to-day could go into a major down-turn, it's really very different from what it was just before or during the Great Depression.Although the American economy was relatively industrialized, the relative share of the services and manufacturing sectors is much larger than it was in 1929 and the next decade. We are even further away, in other words, from a condition where people could just go back to the farm until things got better.The relative size of the government is vastly larger than it was in 1929. That will be difficult or impossible to afford if the economy goes into a real depression.By many measures, inequalities of wealth and of income were very pronounced just before the Great Depression, and they are very pronounced now. However, there's never been much more that hand-waving and incoherence in claims that this inequality can be a contributing factor to economic decline.The mainstream of economic thought has come to accept that bad policy on the part of the Federal Reserve System was a proximate cause of the Great Depression -- the Fed inflated the money supply, which distorted patterns of investment, and then allowed it to collapse, which cause different distortions, instead of just acting to keep over-all prices stable. Now-a-days, the Fed seems to be alert to the dangers of letting the money supply collapse, though many believe that Fed policy helped to feed recent bad patterns of investment (especially in real estate).Another trigger of the Great Depression was protectionism -- the Republicans tried to make Americans wealthier by forcing up the price of foreign-made goods, and foreign nations retaliated taxing or prohibitting American-made goods. There is a lot of protectionist talk again these days, but Congress probably won't be as stupid as they were before.The economy was more clearly in trouble in the late '70s than it is now. So why are people looking back 80 years instead of 30? There are several reasons, but here are two: [1] A lot of people have no memory of the '70s; many of to-day's adults weren't even born then. [2] The mainstream media is trying to "sell papers" and to affect the up-coming election by playing-up fears of economic crisis.
Producers reacting to consumer choices provide most answers to the basic economic questions?
market
What type of economy best fits the description producers reacting to consumer choices provide most answers to the basic economic questions?
market
Which questioning and reacting encourage teacher student interaction?
The best way to encourage student-teacher interaction is simply to ask questions. Students will respond to questions and experiments.
Which question and reacting techniques encouraged teacher student interaction?
The best way to encourage student-teacher interaction is simply to ask questions. Students will respond to questions and experiments.
Which questioning and reacting techniques encouraged teacher-student interaction?
The best way to encourage student-teacher interaction is simply to ask questions. Students will respond to questions and experiments.
How do call centers use technology?
communication hardware, personal relationships, on hold music - headsets instead of handheld reacting to angry consumer customer rewards
What is an antonym for reacting to dark?
reacting to dark
Why isn't my car reacting properly when i accelerate?
It depends how it is not reacting.
What can be the more costly Reacting to a security incident or Preventing a security incident?
reacting
What is the concept of controlling events and reacting to events?
what is the concepts of controlling events and reacting to events.
Is rust a result of sulfur reacting with iron?
No. Rust forms from iron reacting with oxygen.
What is the equation for sodium reacting with water?
Sodium reacting with water is: 2Na + 2H2O ----> 2NaOH + H2
