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What four basic decisions does the economic system help us make?
1. What goods and services should be produced.2. How goods and services should be produced.3. Who should have the goods and services produced and how much is the cost.4. How much of these goods and services should be produced.
What are the three central economic problem?
(i) Which goods should be produced and in how much quantity? (scarcity) (ii) What technique should be adopted for production? (efficiency, PPC) (iii) For whom goods should be produced? (allocation of goods)
Adam smith's concept of laissez -faire stipulatedthat government should have control of how much is produced?
False
Did Adam smith's concept of laissez faire stipulated that government should have control of what and how much is produced?
false A+ (nomad)
What decisions affect production efficiency?
All four of the decisions must be made: What goods will be produced?How will production occur?How much should be produced?Who will be the recipients?All are decisions that influence production efficiency.
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+
What four basic decisions does the economic system help us make?
1. What goods and services should be produced.2. How goods and services should be produced.3. Who should have the goods and services produced and how much is the cost.4. How much of these goods and services should be produced.
Who decided how much tax you should pay and on what?
The elected legislatures of the Federal, State and local governments.
What are the three central economic problem?
(i) Which goods should be produced and in how much quantity? (scarcity) (ii) What technique should be adopted for production? (efficiency, PPC) (iii) For whom goods should be produced? (allocation of goods)
Who named space space?
A group of scientists decided to name space "space" because they saw how empty it is and how much space there is in what we now know as "space".
Are desktop computers produced in UK?
Desktop computers are produced in the UK at PC specialist and PC world and the PCO group are all manufacturers of high quality desktop computers and much more.
How much keratin is produced?
how much is keratine produced?
Adam smith's concept of laissez -faire stipulatedthat government should have control of how much is produced?
False
Did Adam smith's concept of laissez faire stipulated that government should have control of what and how much is produced?
false A+ (nomad)
Why did the Constitutional Congress decided to create three branches of our government?
the three branches establish a strong central government without giving too much power to any one group.
What are the four basic questions of economy?
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?
