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When markets or governments make economic decisions about how to most efficiently convert their resources into goods and services what basic economic question are they answering?
Wiki User
∙ 9y ago
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
Wiki User
∙ 9y ago
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When market governments decide how to distribute wealth money goods and services what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
When markets or governments make economic decisions about what goods and sevices their resources will be used to make what basic economic question are they answering?
In market-based economies, markets determine prices which will answer the three economic questions
How is scarcity related to study of economics?
Economics at its heart is the study of decisions made in order to efficiently allocate resources. Scarcity refers to the lack of unlimited resources in regards to the three inputs of production, labor, land and capital.
What is the efficient use of productive resources?
the resources are certainly not used efficiently because there is a lot of waste age
A situation in which the market does not distribute resources efficiently is considered to be .?
a market failure
When markets or governments make economic decisions about what goods and services their resources will be used to make?
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
When markets or governments make economic decision about how to most efficiently convert their resources into goods and service what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
When market governments decide how to distribute wealth money goods and services what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
When markets or governments make economic decisions about what goods and service their resources will be use to make what economic decision are they answering?
What to produce
When market or governments make economic decisions about what goods and services their resources will be used to make what basic economic question are they answering?
What to produce
When markets and governments make economic decisions what good s and services their resources will be used to make what basic economic question are they answering?
what to produce
When markets or governments make economic decisions about what goods and sevices their resources will be used to make what basic economic question are they answering?
In market-based economies, markets determine prices which will answer the three economic questions
What made a scarcity?
A scarcity is created when people have unlimited wants, or needs, but their resources are limited. When scarcity happens, many economic decisions must be made to efficiently allocate resources.
How can you use economics in a real life situation?
Economics is all about real life situations. All resources are limited and economics is simply about making decisions to use those resources efficiently.
How is scarcity related to study of economics?
Economics at its heart is the study of decisions made in order to efficiently allocate resources. Scarcity refers to the lack of unlimited resources in regards to the three inputs of production, labor, land and capital.
The name given to the organized decisions of distributing limited resources among unlimited needs and wants?
In a Post- scarcity economy there area limited resources for unlimited demands. By identifying such circumstances governments are better informed of how utilize resources without waste.
How computing resources can be applied efficiently?
Computing resources can be applied most efficiently by applying the multiprogramming paradigm. This would ensure that the computer is not idle at any one time.
