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What determines what goods and services are produced?
Consumers determines what goods and services are produced.
Which of the following is true about goods and services?
The answer is D. Assuming the options are: A. Goods are generally more expensive to the consumer. B. Goods and services are often sold by the consumer. C. Services are usually provided at a distance while goods are produced locally. D. Goods are physical while services are intangible.
Why is what to produce a problem in every economy?
What to produce?There are two aspects of this problem--- firstly, which goods should be produced, and secondly, what should be the quantities of the goods that are to be produced. The first problem relates to the goods which are to be produced. In other words, what goods should be produced? An economy wants many things but all these cannot be produced with the available resources.Therefore, an economy has to choose what goods should be produced and what goods should not be. In other words, whether consumer goods should be produced or producer goods or whether general goods should be produced or capital goods or whether civil goods should be produced or defense goods. The second problem is what should be the quantities of the goods that are to be produced.Production of goods depends upon the use of resources. Hence, this problem is the problem of allocation of resources. If we allocate more resources for the production of one commodity, the re­sources for the production of other commodities would be less.
Why is to produce a problem in every economy?
What to produce?There are two aspects of this problem--- firstly, which goods should be produced, and secondly, what should be the quantities of the goods that are to be produced. The first problem relates to the goods which are to be produced. In other words, what goods should be produced? An economy wants many things but all these cannot be produced with the available resources.Therefore, an economy has to choose what goods should be produced and what goods should not be. In other words, whether consumer goods should be produced or producer goods or whether general goods should be produced or capital goods or whether civil goods should be produced or defense goods. The second problem is what should be the quantities of the goods that are to be produced.Production of goods depends upon the use of resources. Hence, this problem is the problem of allocation of resources. If we allocate more resources for the production of one commodity, the re­sources for the production of other commodities would be less.
Why are goods produced?
Goods are produced to meet a demand. Consumers want the goods, they are willing to pay, the supplier must produce the goods or risk loss.
What statistics are there about people starting to buy more locally produced goods?
Because they are produced proplerly
How good is Alibaba for buying and selling?
Alibaba is a good site for buying and selling goods both locally and from overseas Manufacturers.
What are protective tariiffs?
They are taxes placed on imported goods to increase the price and protect locally produced goods which may cost more than the imported similar goods.
What is an annual trade gathering called in medieval times?
A variety of goods that were not produced locally would be available. Merchants would travel long distances to attend trade fairs in different towns. At the trade fairs, merchants would sell goods such as spices and silk that were not locally produced.
What other aspects made Phoenician trade significant?
It developed from trading Phoenician goods int carriage trade - that is shipping locally-produced goods between other centres.
Inflation in Spain during the Century of Gold hurt the economy because?
foreign goods were cheaper than locally produced products.
What are the disadvantages of mixed economy in Nigeria?
The disadvantages of the mixed economy in Nigeria is that some unscrupulous businessmen are evading taxes. They import some goods which pose a danger to the locally produced goods.
What is domestic export?
Export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing.
What are Five problems all economic systems face?
Which goods should be produced? How will the goods be produced? For whom will the goods be produced? How much goods should be produced? At what rate will the goods depreciate? A+
What are the five problems all economic system face?
Which goods should be produced? How will the goods be produced? For whom will the goods be produced? How much goods should be produced? At what rate will the goods depreciate? A+
Does it cost less or more to buy locally bought goods?
That depends on where you are and what you are buying. mass production in countries that underpay their workers leads us into situations where people in wealthier countries find that the cost of local goods of similar quality are far more expensive.
How Germany produced goods and service and why?
Germany goods and service are produced
