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What two purpose can a government serve in a market economy?
to protect the public and preserve private enterprises
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
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
Because prices serve as incentives in market economy What will be large increase in price of a good?
People would consume less of the good and look for substitutes. (study islands)
In which type of economy would prices be set by the government?
command economy
What two purpose can a government serve in a market economy?
to protect the public and preserve private enterprises
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
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
What purpose does silicone serve in conditioners?
What purpose does silicone serve in conditioners
How do prices transmit information?
Prices in a market economy convey information about supply and demand conditions. When a product becomes scarcer, its price tends to rise, signaling to producers to increase production. Conversely, when a product becomes abundant, its price tends to fall, signaling to producers to reduce production. In this way, prices serve as a mechanism for allocating resources efficiently in an economy.
Because prices serve as incentives in market economy What will be large increase in price of a good?
People would consume less of the good and look for substitutes. (study islands)
What purpose do video games serve?
They serve the same purpose as T.V or movies. They are a form of entertainment.
In which type of economy would prices be set by the government?
command economy
What does gas prices destroy?
the economy
What purpose do the acids serve in soda?
Serve as preservatives.
What purpose do coordinates serve on a grid?
The purpose is the toilet.
What is different about interest rates or price credit from other prices in the economy?
what is different about interest rates, or price of credit, from other prices in the economy
