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What is the way a change in price determines whether or not consumers buy goods?
Wiki User
∙ 11y ago
Law of demand
Wiki User
∙ 11y ago
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What determines what goods and services are produced?
Consumers determines what goods and services are produced.
What determines if a person buys normal or inferior goods?
The price, how informed the person is and the quality of the goods are the factors that determines whether a person will buy inferior or normal goods.
When a country has a market economy which of these statements correctly defines this system?
Companies produce goods of their choice and consumers decide whether to buy the goods
Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the economy.
When consumers get more money they tend to substitute normal goods for what goods?
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
What determines what goods and services are produced?
Consumers determines what goods and services are produced.
Who determines what goods are produced in a market economy?
The Market(consumers... through their decisions) does it.
What determines if a person buys normal or inferior goods?
The price, how informed the person is and the quality of the goods are the factors that determines whether a person will buy inferior or normal goods.
What is the factor which determines whether or not goods should be included in a physical count of inventory?
The factor that determines whether or not goods should be included in a physical count of inventory is physical possession or ownership of the goods. Only goods that are owned by the company and physically present in its possession should be included in the physical count. Goods that are on consignment or held on behalf of others should not be included in the count.
When a country has a market economy which of these statements correctly defines this system?
Companies produce goods of their choice and consumers decide whether to buy the goods
Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the economy.
When consumers get more money they tend to substitute normal goods for what goods?
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
Why did the garment workers union grow after the triangle shirtwaist factory fire?
consumers pressured businesses by boycotting nonunion goods.
What is the relationship between producers and consumers in economics?
Producers make the goods and consumers buy and use the goods.
What can not be done by the government in a command economy?
Deciding what goods consumers buy.
When consumers get more money they tend to substitute normal goods for goods?
inferior
People who buy goods and services are called?
Consumers
