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What is the organized set of procedures that a nation follows in producing and distributing goods and services?
Economic System
A system for producing and distributing goods and services?
The system of producing goods and services is called an economy. This system uses humans to produce and sell the goods. When the people have no say in what will be produced or how, this is called a command economy.
The circular flow of economic activity is characterized by?
How people produce (make money) and consume (spend money).
What are the consuming and producing units of the economic system?
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.
How does price changes affect equilibrium?
By serving as a tool for distributing goods and services.
What is the organized set of procedures that a nation follows in producing and distributing goods and services?
Economic System
A system for producing and distributing goods and services?
The system of producing goods and services is called an economy. This system uses humans to produce and sell the goods. When the people have no say in what will be produced or how, this is called a command economy.
How do you participate in the market?
You participate in a market by individually producing, buying, using, or consuming goods and services in that market.
The circular flow of economic activity is characterized by?
How people produce (make money) and consume (spend money).
What is an organized set of procedures that a nation follows in producing and distributing good and services?
The trade agreements are the procedures a nation follows. They work amongst states and countries. It tells you how things get done and how they produce goods and services.
What is distributing goods and services in a fixed manner known as?
Rationing
What are the consuming and producing units of the economic system?
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.
How does price changes affect equilibrium?
By serving as a tool for distributing goods and services.
System for producing good and services?
A system for producing goods and services is known as a production system. Goods are produced from raw materials, and services are activities performed.
What is Global Retail?
The leverage of technology for the purpose of distributing prodcuts/services to the global community.
What is an alternative system for distributing goods and services other than price?
barter system
A system for producing goods and services is called what?
ECONOMY! ;)
