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Why Explain in your own words how the terms rationing and price are related?
Rationing is a system to allocate goods and services without the use of prices. Rationing is when people receive a ration coupon that entitles them to a certain amount of a product.
What are the relationship between goods service and consumers?
Goods are consumer wants and needs that are produced. Services are things that people pay for once and receive something. Consumers spend money on both.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
Why would rent controls result in higher incidence of racial or age discrimination?
Price serves as a rationing device. Suppliers must determine to whom their production will bedistributed. In a free market economy, this is accomplished through the price mechanism. Thosewho are willing and able to purchase the product will receive the product. Rent controls reducethe ability of landlords to distribute housing services based solely on price. Therefore, they canresort to other mechanisms, such as bribery and favoritism. Unfortunately, some will resort tousing racial or age discrimination as the rationing mechanism.
How does the consumer surplus in a monopoly compare to that in perfect competition?
In a monopoly, consumer surplus is typically lower compared to perfect competition. This is because monopolies have more control over prices and can charge higher prices, reducing the benefit consumers receive from purchasing goods or services.
Why Explain in your own words how the terms rationing and price are related?
Rationing is a system to allocate goods and services without the use of prices. Rationing is when people receive a ration coupon that entitles them to a certain amount of a product.
What account services does Yahoo Mail offer to consumers?
Yahoo! Mail offers free e-mail services to consumers, where an individual can label, sort, and delete the messages they receive. They also offer customized business e-mails at a cost.
What are the relationship between goods service and consumers?
Goods are consumer wants and needs that are produced. Services are things that people pay for once and receive something. Consumers spend money on both.
What type of services does Global Media Canada provide?
The Canadian Global Media website offers many different services to consumers. Mainly offering freelance IT services to Ottawa, the general public and other businesses may also receive these services.
What services are available through sky digibox?
The Sky Digibox is a British device that allows consumers to receive satellite television and internet service. They do not ship to the United States.
Members of both houses receive what a what for their services?
They receive a Compensation for their services' its in the Constitution. :)
What are the rights guaranteed to all the consumers?
Consumers are guaranteed several fundamental rights, including the right to safety, which protects them from hazardous products; the right to be informed, ensuring they receive accurate information about goods and services; the right to choose, allowing access to a variety of products and services; and the right to be heard, enabling them to voice complaints and concerns. Additionally, consumers have the right to seek redress for grievances and to privacy regarding their personal information. These rights aim to promote fair treatment and empower consumers in the marketplace.
How can one receive call services?
There are many ways in which someone could receive call services. The best way to receive call services would be to get an answering machine or a phone with cell phone capability.
How does rationing work and what are the key principles behind its implementation?
Rationing is a system used to distribute limited resources fairly among a population during times of scarcity. The key principles behind its implementation include setting limits on the amount of a resource each person can receive, ensuring equitable distribution based on need, and monitoring and enforcing compliance with the rationing rules.
Prizes or gifts that consumers receive when purchasing products are called?
purchase incentives
How have some government regulators affected consumers?
Regulations can affect the varieties and qualities of foods available for purchase, the prices consumers face, the information consumers receive about a product, and consumer confidence in the food supply.
Which two services are required to enable a computer to receive dynamic IP addresses and access the Internet?
Which two services are required to enable a computer to receive dynamic
