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When making decisions about production and allocation which type of system depends on individual producers and consumers to create a combination of supply and demand?
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What is market allocation?
Market allocation is when a bunch of companies get together (if they don't actually all meet and agree, it doesn't count) and decide to split of the market with geographically (ex. you get Tennessee, you get Kentucky, etc) or market (ex. you get businesses, you get individual consumers, etc).
What is secondary economy?
The secondary economy is related to the production and construction of a product. People in those individual sectors focus on creating a finished product for consumers.
Who takes on the financial risk in starting a new business in a market economy?
a. consumers b. government planners c. individual business people d combination of government planners and individual investors
Who takes on the financial risk in starting a new buisness in a market economy?
a. consumers b. government planners c. individual business people d combination of government planners and individual investors
What are concerns that socially responsible consumers have?
Production costs.
What is market allocation?
Market allocation is when a bunch of companies get together (if they don't actually all meet and agree, it doesn't count) and decide to split of the market with geographically (ex. you get Tennessee, you get Kentucky, etc) or market (ex. you get businesses, you get individual consumers, etc).
What is secondary economy?
The secondary economy is related to the production and construction of a product. People in those individual sectors focus on creating a finished product for consumers.
Who takes on the financial risks in starting a business in a market economy?
a. consumers b. government planners c. individual business people d combination of government planners and individual investors
Who takes on the financial risk in starting a new business in a market economy?
a. consumers b. government planners c. individual business people d combination of government planners and individual investors
What is food production?
Food production is the process of preparing food to sell to consumers for consumption.
Who takes on the financial risk in starting a new buisness in a market economy?
a. consumers b. government planners c. individual business people d combination of government planners and individual investors
What is microeconomics's?
Microeconomics is the study of a section of the economy rather than the economy as a whole (which is macroeconomics). Microeconomics is more concerned with the allocation of scarce resources and the elasticity (sensitivity) of consumers and producers at the level of households and firms. In other, more simple words, it is the laws of supply and demand. The study of individual firms and individual households in a market.
What are concerns that socially responsible consumers have?
Production costs.
How may the consumers be affected by production of goods?
rft
Producers and consumers dictate pricing and production?
This Dick
Are cars consumers?
Yes, cars are consumers. They consume raw materials during production and fuel for the engine.
How does the price system allocates resources efficiency?
The price system allocates resources efficiently because prices act as a kind of signal to both producers and consumers in terms of resource allocation. Resource allocation is utilized in strategic planning.
