0
What else can I help you with?
What is a purpose of a firm?
To produce goods and services
For whom are goods services produce in a market economy?
In a market economy, goods and services are produced for consumers.
What is the definition of factors of production?
The resources used to produce goods and services.
The amount of goods and services the average citizen can buy?
The amount of goods and services that the average citizen can buy is known as a standard of living. The cost of a standard of living varies greatly depending on a number of factors.
What group of players in the game of economics both produce and use goods and services?
workers
The amount that a supplier pays to produce goods and services is called?
Cost
Manufactured goods needed to produce other goods and services are called?
Capital Goods.
What are goods and services are produce are called?
factors of production
What do you call the amount of goods or services available to us?
The amount of available goods or services is called supply.
How do you place a value on money?
By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it.
The set of actions that produce goods and services are called?
Manufacturing
Goods that are used to produce other goods and services are called what resource?
correct answer is Factors of production
What is called the power to produce or provided?
The ability to produce goods or services is known as productive capacity.
A system for producing and distributing goods and services?
The system of producing goods and services is called an economy. This system uses humans to produce and sell the goods. When the people have no say in what will be produced or how, this is called a command economy.
What are the four basic questions of 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?
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
The amount of goods and services produced from each hour of a worker's time is called?
productivity
