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considering whether companies or the government should make the goods.
What else can I help you with?
What is a nation's plan for making decisions on what and how to produce and how to distribute goods and services?
their economic system
What is it when a society cannot produce all the goods that people wish to have?
When a society cannot produce all the goods that people wish to have, it is experiencing scarcity. This economic condition arises when limited resources are insufficient to meet unlimited human wants and needs. Scarcity forces societies to make choices about how to allocate resources effectively, often leading to trade-offs and prioritization of certain goods and services over others.
What of the following terms best describes an economy in which the government makes the decisions of goods production?
The term that best describes an economy in which the government makes decisions regarding goods production is a "command economy." In this system, the government centrally plans and controls all economic activities, determining what to produce, how much to produce, and for whom the goods are produced. This contrasts with market economies, where decisions are driven by supply and demand.
Why must firms make decisions about which goods they will produce?
because firms have access to limited resources of land, labor, and capital
What a the economic problems faced by the world?
The biggest economic problem is Scarcity. All over the globe, people have unlimited want and desires, but we have only LIMITED resources. Economics is about making decisions to fulfill these wants to our extent. For example, questions such as: What goods and services should an economy produce? How should we produce these goods and services? Who should get the goods and services we produce?
What is a nation's plan for making decisions on what and how to produce and how to distribute goods and services?
their economic system
Do any society can produce goods and services?
no, i dont think that any society can produce goods and services that meet all its wants because there are societies with poor resourses and some with rich resources.
Economic decisions involve doing what with resources to produce goods and services for people to consume?
Allocating
Economics decisions involve doing what with resources to produce goods and services for people to consume?
Allocating
What is the definition of small business?
Whether small or large, "business is an organized effort by individuals to produce and sell for a profit, goods and services that satisfy societies needs."Whether small or large, "business is an organized effort by individuals to produce and sell for a profit, goods and services that satisfy societies needs."
International trade aims?
to produce more goods in certain countries
What of the following terms best describes an economy in which the government makes the decisions of goods production?
The term that best describes an economy in which the government makes decisions regarding goods production is a "command economy." In this system, the government centrally plans and controls all economic activities, determining what to produce, how much to produce, and for whom the goods are produced. This contrasts with market economies, where decisions are driven by supply and demand.
What social science is described as people government and societies choose how to use scarce resources I produce items for consumption?
Economics is the social science that studies how individuals, governments, and societies make choices on how to allocate resources to produce goods and services for consumption. It deals with the production, distribution, and consumption of goods and services within a society.
What does it mean when economist says that an area specializes in producing certain products?
They use their resources to produce a limited range of goods.
When markets or governments make economic decisions about what goods and service their resources will be use to make what economic decision are they answering?
What to produce
Why must firms make decisions about which goods they will produce?
because firms have access to limited resources of land, labor, and capital
When markets or governments make economic decisions about what goods and services their resources will be used to make?
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
