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over production can lead to a surplus of goods and/or services, and shortages can occur when demand for a product exceeds the productions of said product
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∙ 12y ago
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Shortages of non priority goods and services is typically found in which economy?
centrally planned economy
When do shortage occur?
Shortages occur when producers will not or can't offer goods or services at current prices.
What are the consequences of a planned economy?
There are two general limitations:Inefficient resource distribution: surplus and shortage; The economic planners are unlikely able to accurately predict future supply and demand. Without market forces to adjust demand and supply you will likely end up with inefficiencies in production as a resut of surpluses for goods not wanted and shortages of goods which were desired.Suppression of economic democracy and self-management. Market forces allow entrepreneur and business to react quickly to market forces and ensure that there are less shortages and surpluses.
What is the Cause of demand pull-inflation?
Consumers want more and more goods and services - APEX
Which of the following is the cause of deamd-pull inflation?
Consumers want more and more goods and services
When do shortage occur?
Shortages occur when producers will not or can't offer goods or services at current prices.
Shortages of non priority goods and services is typically found in which economy?
centrally planned economy
What are the consequences of a planned economy?
There are two general limitations:Inefficient resource distribution: surplus and shortage; The economic planners are unlikely able to accurately predict future supply and demand. Without market forces to adjust demand and supply you will likely end up with inefficiencies in production as a resut of surpluses for goods not wanted and shortages of goods which were desired.Suppression of economic democracy and self-management. Market forces allow entrepreneur and business to react quickly to market forces and ensure that there are less shortages and surpluses.
disadvantage of planned economy?
Lack of incentives to work hard in planned economy Sometimes poor quality of goods and shortages Failure to meet set ideals or consumer needs. Lack of varieties of goods and services Consumers can choose only those goods or services which are produces and decided by the government
How do you place a value on money?
By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it.
What services are offered by FreeBay?
The services offered by Free Bay are for people who have goods or excess goods they don't need or use anymore. They have also introduced the Swop Shop page where a person can trade goods for goods, goods for services, services for goods, and services for services.
Match the role with the actions taken by players in that role.?
consumer- Purchasing goods and services producers-Providing goods and services worker-Making goods and services
Was it fair for us to charge were for your goods and services during the rugby world cup?
cause your mum
What is the Cause of demand pull-inflation?
Consumers want more and more goods and services - APEX
Which of the following is the cause of deamd-pull inflation?
Consumers want more and more goods and services
What are the four fundamental economic questions?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
Is a supplier of goods and services a customer?
A supplier of goods and services is commonly referred to as a vendor. Unless they are buying your goods or services they are not a customer.
