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When a society cannot produce all the goods and services people wish to have it is said that the economy is experiencing?
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What is economic resources?
Economic resources are the assets (things of value) which an economy (or business) may have available to supply and produce goods and services to meet the ever-changing needs and wants of individuals (in the case of a business) and society (in the case of society as a whole.)
What three questions define the economy of a society?
what goods and services should be produced? How should goods and services be produced? who should get and use the goods and services?
What is a society in which people have specialized jobs and must exchange goods and services they produce for goods and services produced by other people?
A free market society.
What are economic resources?
Economic resources are the assets (things of value) which an economy (or business) may have available to supply and produce goods and services to meet the ever-changing needs and wants of individuals (in the case of a business) and society (in the case of society as a whole.)
What do people of a complex economy society work to produce?
Goods that they can consume themselves
Do any society can produce goods and services?
no, i dont think that any society can produce goods and services that meet all its wants because there are societies with poor resourses and some with rich resources.
What is economic resources?
Economic resources are the assets (things of value) which an economy (or business) may have available to supply and produce goods and services to meet the ever-changing needs and wants of individuals (in the case of a business) and society (in the case of society as a whole.)
What three questions define the economy of a society?
what goods and services should be produced? How should goods and services be produced? who should get and use the goods and services?
What is a society in which people have specialized jobs and must exchange goods and services they produce for goods and services produced by other people?
A free market society.
Traditional economy coutries?
What type of Government is in control in a traditional,command and market economy? Who controls the resources? Distribution of goods and services? Controls productions? What are the negative affects on society? Benefits to society for each form of economy?
How production possibility frontier provide an insight into the issue of scarcity and choice which an economy faces when deciding what goods and services to produce?
Since resources are limited,the society cannot get all the goods and services the people want.And hence some mechanisms are used to guide the use of resources in the production of goods and services to satisfy as many as people wants as possible. When the society do not know what to produce,the Production Possibility Frontier [PPF] is used to represent a boundary between those combination of goods and services which can be produced and those which cannot be produced.
What are economic resources?
Economic resources are the assets (things of value) which an economy (or business) may have available to supply and produce goods and services to meet the ever-changing needs and wants of individuals (in the case of a business) and society (in the case of society as a whole.)
What do people of a complex economy society work to produce?
Goods that they can consume themselves
In which type of society do people have specialized jobs and exchange goods and services they produce for goods and services produced by other people?
complex
What is the method used by society to produce and distribute goods and services?
Actually, the correct answer is economic system.
What is method used by society to produce and distribute goods and services?
Actually, the correct answer is economic system.
What is the organaized effort of individuals to produce and sell for a profit the products and services that satisfy society's needs?
business
