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What determines what goods and services are produced?
Consumers determines what goods and services are produced.
Who uses goods and services?
consumers
People who buy goods and services are called?
Consumers
Does open economy do more harm than good?
It does more good because consumers are able to purchase more goods and services outside the production possibility boundary and producers can sell goods and services to other economies.
What is a product market?
Product market is the place where goods and services are created and sold by businesses. This does not include trading instead focuses on finished goods purchased by the public sector and foreign buyers.
What do consumers expect when they buy products and services?
When consumers buy goods and services, they expect them to be as good as the seller claims they are. They look for utility when they purchase the goods.
How is production important in the provision of goods and services to consumers?
Production of goods is important for services and companies because companies must produce in mass what goods or services consumers will purchase. If customers do not wish to purchase a certain good or service, then it could cost a company mass amounts of money if they have produced it.
What do consumers do that influences producers according to the circular flow model?
Purchase goods and services
According to the circular flow model what is something consumers do that influences producers?
Purchase goods and services
Who will get the goods and services?
consumers
What determines what goods and services are produced?
Consumers determines what goods and services are produced.
Who uses goods and services?
consumers
People who buy goods and services are called?
Consumers
Who are called consumer?
Consumers are individuals or organizations that purchase goods or services for their own use or consumption. They are an essential part of the economy as they drive demand for products and services.
What is the consumer rights in uk?
Consumers have rights in the UK when they purchase goods and services. There are laws that protect consumers from shady business practices. The laws allow consumers to get full restitution from unfair commercial ventures.
How do the interests of consumers and producers differ?
Consumers are interested in obtaining products and services that meet their needs at a reasonable price and quality. Producers are focused on maximizing profits by efficiently producing goods and services that consumers want. While consumers prioritize value and satisfaction, producers prioritize efficiency and profitability.
For whom are goods services produce in a market economy?
In a market economy, goods and services are produced for consumers.
