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What is the economic system based on the law of supply and demand during the cold war?
Wiki User
∙ 10y ago
free market economy
Wiki User
∙ 10y ago
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Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
Which economic system has relative prices change to reflect changes in supply and demand for different commodities is known as a?
Price or market system
How does the consumer influence what goods and services will be produced?
The basic economic theory states that "When there is demand efforts will be made to satisfy this demand by virtue of supply." Now in an economic system the consumer dictates the demand and so the supply has to satisfy the demand.So the suppliers have to model their products and services which corresponds to demands of the consumers.
What three key economic decisions must every economic system make?
The three key economic decision of every economic system are price, how much to produce, and where to sell the product. This follows the principles of the laws of supply and demand.
The economic system in witch consumers control prices and production through supply and demand is called a?
free market economy
Which of these describes a market economic system?
Economic decisions are based on supply and demand. A+
What do you study in Economics in VCE?
The Australian Market system and basic economic concepts such as demand and supply.
Which economic system has relative prices change to reflect changes in supply and demand for different commodities is known as a?
Price or market system
What good and services will produce and how will the produce?
The basic economic theory states that "When there is demand efforts will be made to satisfy this demand by virtue of supply." Now in an economic system the consumer dictates the demand and so the supply has to satisfy the demand.So the suppliers have to model their products and services which corresponds to demands of the consumers.
How does the consumer influence what goods and services will be produced?
The basic economic theory states that "When there is demand efforts will be made to satisfy this demand by virtue of supply." Now in an economic system the consumer dictates the demand and so the supply has to satisfy the demand.So the suppliers have to model their products and services which corresponds to demands of the consumers.
What three key economic decisions must every economic system make?
The three key economic decision of every economic system are price, how much to produce, and where to sell the product. This follows the principles of the laws of supply and demand.
The economic system in witch consumers control prices and production through supply and demand is called a?
free market economy
What is the importance of economic system?
The importance of an economic system is that the economic system runs the civilization. This system forms the civilization and shows what people value. This helps decide what should be produced,how much something is worth, and keeps business at a supply and demand routine. Hope my answer helped :) Peace!
In area where water supply is poor during periods of peak demand what type of system would usually be specified for the domestic dwelling?
In area where water supply is poor during periods of peak demand what type of system would usually be specified for the domestic dwelling?
What is the ONS system?
Supply and Demand
Which is not a characteristic of the capitalist system?
Capitalism is based on private ownership, entrepreneurship, supply, demand, and profit. Other economic systems do not embrace all of these characteristics.
What is the price system based on?
Supply and Demand
