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What is the way societies turn resources into goods and services?
Wiki User
∙ 13y ago
weird
Wiki User
∙ 13y ago
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Which of the following questions must be answered in order to turn resources into products?
How should production be organized?idk i got it wrong but its NOT "How should production be organized? "i think its "How are goods and services to be distributed?"
What does efficiency mean in economics?
In economics, efficiency means the overall use of resources. The overall use of resources can help maximize the production of the goods. In turn, the potential to make more money is there.
Describe the circular Flow Model?
The circular flow model is a summary of the operation of a market economy, that is the flow between production factors (firms) and households. Firms provide an income to households though employment (labour) and in the same manor households spend their income on firms for services and products.
What foreign goods and services have influenced americas culture?
Chinese low manufacturing coststook assembling work from America and in turn gave low priced goods to the Americans and made less people understand the consept of work. These low priced goods made America more commercialized and centered on buy, spend, wory later opposed to work hard and you will achieve.
What does stimulation of growth in a free market economy?
Investment. Investment expands the production ability of an economy, thus more goods and services are produced and sold which in turn brings more income. Going further.....part of that income is saved and the savings are used as investments. the second thing to be done is reducing taxes and intrest rates so that more money is avalable at lesser intrest thus making production cheaper and industries more profitable. Lastly--- The intent of the above is to decrease costs of purchasing goods and services.
Which of the following questions must be answered in order to turn resources into products?
How should production be organized?idk i got it wrong but its NOT "How should production be organized? "i think its "How are goods and services to be distributed?"
Of the following questions must be answered in order to turn resources into products?
How should production be organized?idk i got it wrong but its NOT "How should production be organized? "i think its "How are goods and services to be distributed?"
What does efficiency mean in economics?
In economics, efficiency means the overall use of resources. The overall use of resources can help maximize the production of the goods. In turn, the potential to make more money is there.
How did human societies change the result of jobs specialization during the Neolithic revolution?
Neolithic societies developed more diverse goods and products.
What does a product's position on the goods and services continuum enable a marketer to do?
A product's position on the continuum, in turn, enables marketers to spot opportunities.
What did trade impact on societies?
Trade impacted societies by facilitating cultural exchange, promoting economic growth through the exchange of goods and services, and fostering diplomatic relationships between different nations. It also led to the spread of ideas, technologies, and innovations across regions.
Goal of the firm?
profit maximization &wealth maximization of shareholders.
How did west African farmers ability to grow more food enncourage labor specialization?
The ability of West African farmers to grow more food allowed for a surplus of resources, which in turn enabled some individuals to specialize in other tasks aside from farming, such as crafting goods, trading, or governing. This labor specialization led to the development of more complex societies and economies in the region.
What is company form of organization?
The company form of organization is set up to produce goods. The goods are produced, by access to whatever resources are needed to turn the results of production into salable products. They're also produced, by way of a staff of employed people. The goods are sold, to customers, with the hopes of covering costs and making profits.
How does trade relate to geography?
Trade is closely related to geography as it is influenced by factors such as natural resources, proximity to markets, transportation routes, and political boundaries. Geography determines the availability and location of resources, which in turn affects the types and patterns of trade. Physical features like mountains, rivers, and coastlines can shape trade routes and determine the accessibility of certain areas for trade. Political boundaries and agreements also impact trade by regulating or facilitating the movement of goods and services.
Is it possible for a company to stay in business without any cash?
I might be missing something here, but I would have to say no. To start a business it usually takes some start-up capital. After that, the company needs to make a profit. No profit, no business. You have to understand what business actually is. For example, look at a definition of business as indicated below."Business is an organized effort by individuals to produce and sell for a profit, goods and services that satisfies societies needs." Within the organized component lies the organization of financial resources. Once again, no financial resources, no business (at least not for long).If you find a way to keep a company in business without cash, please let us know! It could turn out to be a whole new world!!Viper1
Describe the circular Flow Model?
The circular flow model is a summary of the operation of a market economy, that is the flow between production factors (firms) and households. Firms provide an income to households though employment (labour) and in the same manor households spend their income on firms for services and products.
