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What is the Societies that feature an economy based on services and technology not production?
Societies with economies based on services and technology, often termed post-industrial or knowledge economies, prioritize intangible goods such as information, expertise, and services over traditional manufacturing. These economies emphasize sectors like healthcare, education, finance, and technology, where innovation and human capital drive growth. Examples include advanced economies like the United States, Japan, and many European nations, where service industries dominate employment and GDP contributions. The shift reflects a broader trend towards digitalization and the importance of skills and knowledge in economic development.
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What determines the amount of output an economy produces?
The factors of production and the production technology determine the economy's output of goods and services. An increase in one of the factors of productionor a technological advance raises output.
What are the production distribution and consumption of goods and services?
An economy is a system for producing goods and services.
What is the production and trade of good and services?
It's economy
What production is the current US economy is based primarily?
Services.
What happens to supply when technology improves?
when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.
What determines the amount of output an economy produces?
The factors of production and the production technology determine the economy's output of goods and services. An increase in one of the factors of productionor a technological advance raises output.
What are the production distribution and consumption of goods and services?
An economy is a system for producing goods and services.
What is the production of trade and goods of services?
It's economy
What is the production and trade of goods and services?
It's economy
What is the production and trade of good and services?
It's economy
What is medium of production?
The medium of production refers to the resources and tools used in the production of goods and services, such as machinery, technology, raw materials, and labor. It encompasses all the physical and human elements required to produce and distribute products in an economy.
What production is the current US economy is based primarily?
Services.
What happens to supply when technology improves?
when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.
The know-how and the means and methods of production availble in an economy are known as?
Technology.
In a market economy what organizes and coordinates the production of goods and services?
Exchange
In market economy what organizes and coordinates the production of goods and services?
Exchange
What is the difference a free market economy and a mixed economy?
In a mixed-market econom, the government imposes regulations on the production of goods and services.
