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Why must firms make decisions about which goods they will produce?
Wiki User
∙ 10y ago
because firms have access to limited resources of land, labor, and capital
Wiki User
∙ 10y ago
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societies make decisions about how to produce certain goods by?
considering whether companies or the government should make the goods.
What are the rules of households and firms in a market economy?
In a market economy, firms make the goods. Households buy the goods.
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?
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.
what Is the popular name for a free-market economy in which business people make most of the decisions about what products to produce how many workers to hire and what prices to charge for goods?
socialism
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.
societies make decisions about how to produce certain goods by?
considering whether companies or the government should make the goods.
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 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 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 or governments make economic decisions about what goods and services their resourcers will be used to make what basic economic question are they answering?
What to produce
What are the roles of households and firms in the market economy?
in a market economy, firms make the goods. Households buy the goods
What are the roles of household and firms a market economy?
in a market economy, firms make the goods. Households buy the goods
What are the rules of households and firms in a market economy?
In a market economy, firms make the goods. Households buy the goods.
What are the roles of household and firm in a market economy?
Consider an economy consisting of households and firms which interact in two markets i.e. the goods and services market in which firms sell and households buy; and the labor market in which households sell labor to business firms or other employees. Required: Illustrate the above economy on a diagram
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?
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.
what Is the popular name for a free-market economy in which business people make most of the decisions about what products to produce how many workers to hire and what prices to charge for goods?
socialism
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.
