they let the customers and citizens decide.
It is the demand and supply which determines the goods and services to produce in the economy.
That's easy, you produce them for customers.
Capital Goods.
When trying to decide what to produce, businesses will look at the demand for their goods.
Yes, China did produce goods.
they let the customers and citizens decide.
It is the demand and supply which determines the goods and services to produce in the economy.
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
That's easy, you produce them for customers.
Capital Goods.
When trying to decide what to produce, businesses will look at the demand for their goods.
to produce enough goods to meet demand while making a profit
to produce enough goods to meet demand while making a profit
to produce enough goods to meet demand while making a profit
When trying to decide what to produce, businesses will look at the demand for their goods.
Consumer goods are market ready goods, producer goods are the input materials needed to manufacture consumer goods.