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The process of deciding the best way to use an organization's resources to produce goods and services is known as?
management
What do you call the way people produce and exchange goods and services?
The way people produce and exchange goods and services is called an economy. It encompasses the systems and processes through which resources are allocated, products are created, and transactions occur. Economies can be organized in various forms, such as market economies, command economies, or mixed economies, depending on the degree of government intervention and market regulation.
Why is it important for the supplier of goods and service to have information about price elasticity of demand?
In that way the supplier of goods and services, will be able to know how many goods they must produce for the quantity demanded in the economy. They need to know how much price affects the consumers.
Who should produce goods in a traditional economy?
Technically enough so that the economy is self sufficient and only uses what it produces, so in this way, there is no set about, it depend on size.However in modern economies of countries known as MEDC's (more economically developed countries), trade is a substitute for goods and services being produced, in terms of international economy.Think of an economy as a supply and demand problem, the bigger it is, the more goods/ services it needs to produce. At a basic level of something like a Village, you would only need about 3 farmers producing different produce.It all depends on size, and there is no fixed amount because every case is different.
What is a organized way for goods and services to be exchanged?
Bartering
How does Israel produce goods and services?
The same way that every other country does, by using labor.
The process of deciding the best way to use an organization's resources to produce goods and services is known as?
management
Why do we use airplanes?
Because it's the fastest way to travel overseas - or transport goods and produce to far-off countries.
Goods and services that a country buys from other countries are called?
exports, because when a country buys it from another they inport it or if it was the other way around we would export the goods to their dock
What do you call the way people produce and exchange goods and services?
The way people produce and exchange goods and services is called an economy. It encompasses the systems and processes through which resources are allocated, products are created, and transactions occur. Economies can be organized in various forms, such as market economies, command economies, or mixed economies, depending on the degree of government intervention and market regulation.
Why is it important for the supplier of goods and service to have information about price elasticity of demand?
In that way the supplier of goods and services, will be able to know how many goods they must produce for the quantity demanded in the economy. They need to know how much price affects the consumers.
Who should produce goods in a traditional economy?
Technically enough so that the economy is self sufficient and only uses what it produces, so in this way, there is no set about, it depend on size.However in modern economies of countries known as MEDC's (more economically developed countries), trade is a substitute for goods and services being produced, in terms of international economy.Think of an economy as a supply and demand problem, the bigger it is, the more goods/ services it needs to produce. At a basic level of something like a Village, you would only need about 3 farmers producing different produce.It all depends on size, and there is no fixed amount because every case is different.
What is a organized way for goods and services to be exchanged?
Bartering
Why should goods and services be produced by labor?
Labor is the only way to produce goods. Products need our work to be made (manual work in manufacturing or intellectual work in designing). Workers earn a living for themselves and their families.
What does currency exchange facilitate?
In the same way that money facilitates exchange in a single economy, exchange of currencies facilitates the exchange of goods and services across the boundaries of countries.
What is the way societies turn resources into goods and services?
weird
What is barter what is barter?
Hey, Barter is the way of trading goods/services in exchange for goods/services without involvement of money. have you heard about the barter trading? It is the simplest way to save your money and get the required services/goods without spending time & savings. Print Media Barter Service in Delhi giving the best printing services in exchange for other services or goods that can save your cash and you can also sell your inventory.
