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When multiple businesses join up to create a Cartel, the production of a product is generally increased. Because of the higher supply of product, it should drive down costs to the consumers.

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People are both producers and products of the society discuss?

People are producers because they create goods others use. They are consumers because they consumer goods that others produce in the economy.


What is the difference between cartel and oligopoly?

Monoply is a situation in which a single person or individual or a business dictates the whole system and people are dependent only on that single individual or business.While cartel is a situation where a group of businesses or companies work hand in hand instead of competing with each other to benefit themselves and not the consumer.In both conditions the consumer is the looser.


In the game of economics workers are the players who function as both producers and?

In the game of Economics, workers are the players who function as both producers and _consumers_


How is the government is both a consumer and a producer and give one example of the government playing each role?

The government pays farmers to produce crops and then buys them for distribution to those in need. In this way the government is both a consumer and producer of the same product.


What are the similarities and differences between how both producers and consumer use money?

Producers and consumers both use money as a medium of exchange to facilitate transactions, enabling the buying and selling of goods and services. However, producers typically focus on using money to invest in resources, pay for labor, and expand their businesses, while consumers use money primarily to purchase goods and services for personal consumption. Their motivations differ, with producers aiming for profit and growth, while consumers prioritize value, satisfaction, and utility. Overall, both roles are essential in driving economic activity but approach money from distinct perspectives.

Related Questions

Is a hawk a producer or consumer?

The hawk is both a producer and consumer, producing young and consuming various animals from the food chain.


Are Red foxes consumers or producers?

All wolves are consumers, because consumers take energy from producers. Producers, such as grass, make food.


Are jellyfish producers or consumers?

Both! They consume nutrients and oxygen, and excrete metabolites.


Is a pine tree a producers or a consumers?

its a produver


Are taxes levied on consumer or producer of goods?

Both consumers and producers are taxed in one form or another.


Is protista a producer or a consumer?

producers


What is the role of the gray fox in a food web?

The red fox is a secondary consumer and is both predator and prey.


People are both producers and products of the society discuss?

People are producers because they create goods others use. They are consumers because they consumer goods that others produce in the economy.


Are foxes a consumer?

a fox is a consumer. it is an omnivores with means it is an animals that eat both plants and other animals. a producer is usually plants.


What are some similarities between consumers and producers?

a producer makes(produces) its own food and a consumer consumes its food from other living things(animals)


Is a chimpanzee a consumer?

The Howler monkey in a herbivore, the diet mainly consistes of berries, leaves and leave litter.


What eats a flower that is a consumer that eats both producers and consumers?

A flower-eating consumer that also eats both producers and consumers is an omnivorous insect, such as certain species of beetles or caterpillars. These insects may feed on the nectar and petals of flowers (producers) while also preying on smaller insects or larvae (consumers). This dual feeding habit allows them to thrive in various environments by utilizing multiple food sources.