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What are the consuming and producing units of the economic system?
Wiki User
∙ 11y ago
Typically, you could say that the consuming units are the households, which consume goods and services from the firms, which are usually seen as the producers. However, since households contribute labor without which there would be no production, we can see it's all interconnected.
Wiki User
∙ 11y ago
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What is the basic consuming unit in the economy?
The Economic Unit. Composed of millions of individuals, businesses, and government units.
Economic resources in the capitalist system are brought together by who?
government units
Feudal estates and basic economic units?
Lord's manors
What is Economic of scale?
It happens as the units produced are increasing, the cost per unit produced is decreasing.
What are the economic system of economic?
There are 3 major and common problems faced by every economical unit.1)What to produce?2)How to produce?3) Produced to whom?Though these questions are common various economic units use several methods to solve them.These various types are called Economic Systems.So A social and institutional order which is developed by people to solve major economical problems can be defined as a Economic System.The word System is specially used in subjects like Bio Science to express bunch of institutions which work under their authority not under external influences.So in a Economic System there we can find hundreds of institutions which work as above.Examples-Business Institutions,Households,Government, Law, Incentives etc.By the way we know that there is a diversity in Economic Systems. There are 3 major reasons for that diversity.1)Ownership of property and rights (when Factors such as Land,Capital are handled with Private sector it is called a CAPITALIST ECONOMIC SYSTEM.When such factors are handled with Government it is called a SOCIALIST ECONOMIC SYSTEM)2)The Mechanism used to coordinate the answers given to major economic problems(when major economic problems are solved under the guidance of Price Mechanism it is called a Market Economy. When it is done under the command of government it is called a COMMAND ECONOMY)3)The system of Incentives (Incentives motivate various economical units to economical activities. In market economies that motivation is given by Profit. In Command economies it is gained through Powers of Authority)---Hirantha Imesh(HIRU)
What is the basic consuming unit in the economy?
The Economic Unit. Composed of millions of individuals, businesses, and government units.
Economic resources in the capitalist system are brought together by who?
government units
What is the energy producing units of a cell?
the polijhfjhnhjjnnkl
The energy-producing units of a cell?
Mitochondria
What is the energy-producing units of cells?
neves
What is the advantages and disadvantages of piecework system?
Disadvantage: Quality control such as supervision will be needed to check that units are of a minimum standard. Advantage: Workers will be motivated to work harder do to get higher pay, hence producing more units
What is the energy producing units of the cell?
the polijhfjhnhjjnnkl
What is the energy producing units of a cell called?
nerves
What are the energy producing units of a cell?
The mitochondria in the cytoplasm.
Why a scientist use the international System if Units?
There are 195 counties in the world. Suppose each of them use their own system of units. Then you have only one job left. Remember the names of the units of each country. Then transmit the data in your own units to interpret the same. You can not use the information and technology. As such if the social and economic gap disappears, you all can unite. At present it is a distant dream.
What is the system of units nowadays called?
The International System of Units
What is the system of units used nowadays called?
The International System of Units
