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Why is competition important to a free enterprise economy?
Competition is important to a free enterprise economy for many reasons including; lower pricing, improving product and attracting consumers.
What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
What is the difference between mono product economy and import oriented economy?
Describe Nigeria's economy as Mono-product and import oriented economy
In what way are entrepreneurs and businesses at the helm of the economy but commanded by consumers?
they serve an important purpose in the economy, the economy needs the entrepreneurs to sell various products, but the entrepreneur needs consumers to buy that particular product
What is the antonym of single product economy?
The antonym of a single product economy is a diversified economy. While a single product economy relies heavily on one primary product or industry for revenue and growth, a diversified economy encompasses multiple sectors and industries, reducing dependency on any single source. This diversification can enhance stability and resilience against market fluctuations.
What was the most important productin the Zhou economy?
silk
Why do you think the product and service are important?
because they are the life of the economy...
Why are the Shang and Zhou dynasty important to the Development of China?
the zhou dynasty was important to china for their inventions,leaders,and help and commitment to china.
Why is competition important to a free enterprise economy?
Competition is important to a free enterprise economy for many reasons including; lower pricing, improving product and attracting consumers.
What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
What is An important agricultural product for the economy of several countries of Central America and the South?
Corn (maize) qualifies as such.
What is the difference between mono product economy and import oriented economy?
Describe Nigeria's economy as Mono-product and import oriented economy
What kinds of livestock contribute to Pennsylvania's economy?
As Milk is the state's most important livestock product, Dairy cows would be the the center of Pa's agricultural economy.
In what way are entrepreneurs and businesses at the helm of the economy but commanded by consumers?
they serve an important purpose in the economy, the economy needs the entrepreneurs to sell various products, but the entrepreneur needs consumers to buy that particular product
Why mountaint are important?
Mountains are important because they help to increase the GDP(Gross Domestic Product) of the country. They help in tourism and thus help in the growth of the economy. Tourism is a very big sector in the part of the governments economy.
Why is a strong economy important?
why is a strong economy important
How does technology and economy influencing the design process?
The use of technology to design the products is important in order for the economy to get by. However, technology alone doesn't influence the product design, the economics of supply and demand are what makes the economy stable.
