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What kind of decisions involving resources must producers of goods and services make?
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Economics is about allocating resources for doing which of the following processes involving goods and services?
Production and distribution
When markets or governments make economic decisions about how to most efficiently convert their resources into goods and services what basic economic question are they answering?
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
What is a function of the government in a command economy?
Government planners decide which goods and services are produced and how they are distributed.The purpose of government in a command economy is to make major economic decisions. This is mainly aimed at protecting the consumers.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
Who decides what goods and services will be produced in a market economy?
In a market economy, it is the producer, typically influenced by the demands of the consumer, who makes decisions about what to produce. This is in contrast to a command economy where the government makes those decisions.
When markets make economics decisions convert resources into goods and services?
Demand will always force markets to make economic decisions to convert resources into goods and services. Without demand. There is any reason to convert the resources.
Economics is about allocating resources for doing which of the following processes involving goods and services?
Production and distribution
When markets or governments make economic decisions about what goods and services their resources will be used to make?
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
Economics decisions involve doing what with resources to produce goods and services for people to consume?
Allocating
Economic decisions involve doing what with resources to produce goods and services for people to consume?
Allocating
When markets or governments make economic decisions about how to most efficiently convert their resources into goods and services what basic economic question are they answering?
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
When market or governments make economic decisions about what goods and services their resources will be used to make what basic economic question are they answering?
What to produce
What is a function of the government in a command economy?
Government planners decide which goods and services are produced and how they are distributed.The purpose of government in a command economy is to make major economic decisions. This is mainly aimed at protecting the consumers.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
What kind of services for Enterprise Products Partners offer?
Enterprise Products Partners is the largest publicly traded energy partnership. It provides integrated midstream services to producers and consumers of natural energy resources.
When markets and governments make economic decisions what good s and services their resources will be used to make what basic economic question are they answering?
what to produce
Who decides what goods and services will be produced in a market economy?
In a market economy, it is the producer, typically influenced by the demands of the consumer, who makes decisions about what to produce. This is in contrast to a command economy where the government makes those decisions.
