each country must answer three economic questions.
Define and describe each economic question

Answers

Answer 1

Answer:

The three economic questions that every society must answer are as follows: "What to produce?" "How to produce?" and "For whom to produce?"

"What to produce": The quantity in which a commodity is to be produced is set at that level where demand equals supply. If quality produced is more or less, then there will be dis equilibrium in the market and price will fluctuate. Hence, to maintain stable equilibrium price it becomes necessary to make demand and supply equal.

"How to Produce": There are two types of techniques. A labor-intensive technique would employ relatively more labor and less capital. On the other hand, capital- intensive technique means more capital and less labor.  The choice of technique depends on the prices of the factors of production. That is, if labor is cheap and capital is expensive, a labor-intensive technique would be considered and vice-versa.

"For whom to produce": The solution of this problem is very simple commodity can be consumed only by people who have more purchasing power. Price mechanism determines the income of the workers, i.e.; purchasing power. The purchasing power of the owner of capital is determined in the same way. Thus, when the price of every commodity and every factor of production are determined, the third problem will be solved


Related Questions

Store Policies that are open to interpretation by store employees
a) Customer satisfaction
b) Government law
c) Safety
d) Liability of product

Answers

Answer:

a) Customer satisfaction

Explanation:

May I get some help

Answers

Answer:

C. Reteach the concept with alternative examples

C. Research the concept with alternative examples

Money market funds invest primarily in foreign currency.
Please select the best answer from the choices provided
True
False

Answers

Answer:

true

Explanation:

I hope I help you thank you

When was Wells Fargo established? What was the main business when they started?

Answers

Answer: Since 1852

In 1852, Henry Wells and William Fargo founded Wells, Fargo & Co. to serve the West. The new company offered banking (buying gold and selling paper bank drafts as good as gold) and express (rapid delivery of the gold and anything else valuable).

Explanation:

Shakeria wants to start investing. She decides to put $1,000 in her investment account and then decides to add $5,200 (which is one hundred dollars per week) into the account at the end of each year. She expects her investments to earn an average of 9% over the next 30 years. How much will she have at the end of the 30 years?

A. $689,364.25

B. $254,369.25

C. $674,689.33

D. $356,543.89

E. $701,055.34

F. $722,066.88

Answers

F I think the answer is

Write a 600 word summary in your own words that identifies the main points you learned. Your summary should include at least one question and answer from each quiz. Explain your answers. Use a publishing program to create a safety poster to make workers aware of safety hazards.

Answers

To write a summary with the main points about your learning on a topic, it is essential that you organize your ideas in a logical and objective way. You can also conduct research on trusted sources to increase your information on the topic and the reliability of your ideas.

The statement also calls for a safety poster to be created to make workers aware of safety risks. Some tips for creating an effective poster are:

Use visuals like meaningful imagesUse flashy colors and phrasesHighlight the main points of the subjectDon't use too much text

How to make an effective summary?

It is essential to find the central idea of ​​a text to create your abstract, you can find it in the introduction and usually in the conclusion, where it will be reiterated and justified. After finding the key points of the text, organize them objectively and succinctly, bringing clarity and understanding on the topic.

Therefore, to retain and engage the reader's attention in an abstract or poster on a subject, it is necessary to pay attention to the structure of the activity, using clear and objective language, aligned with the central purpose.

Find out more about summary here:

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What are the risks and benefits of implementing a penetration pricing policy as compared to a competitive pricing policy?

Answers

Answer:

The risks of a penetration pricing policy is that you may lose money and never see a return on it. A benefit of the penetration pricing policy is that most the time you will pull people in with the low prices and most the time you will make back the money you invested.

Explanation:

Hopefully that helps!

A machine does 200J of work in 35seconds , calculate the power developed​

Answers

I don’t know but I need points lol sorry

The required power developed by the machine is 5.714 Joule per second.

What is power generated by a machine?

Power generated by a machine is defined as the work done by a machine in a single unit of time.
Power = work/time

Unit of power is joule per second

Here,

A machine does 200J of work in 35seconds

Power generated by the machine is given as,
Power = work/time

Substitute the value in the above equaiton,

Power = 200 / 35
Power = 5.714 J/s


Thus, the required power developed by the machine is 5.714 Joule per second.

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Discuss any five items of government expenditure in Nigeria

Answers

Answer:

Government expenditure items, whether recurrent or capital, are usually classified into four major groups, namely: administration, economic services, social and community services and transfers.

What could this sign use on the left side

Answers

What, ok I just take the points

A government policy that sets the highest price that can be charged for a good or service is a __________.
A) price peak
B) price ceiling
C) price roof
D) price maximum

Answers

Answer:

B. price ceiling.  

A government policy that sets the highest price that can be charged for a good or service is a price ceiling.

can i have one sentence on how you would describe your favorite icecream

Answers

Answer:

it is chocolatey and peanut buttery and tasty i like moose tracks.

Explanation:

Answer:

My favorite ice cream is minty, with chocolate chunks!

Explanation:

please help!! Question: Drake begins wearing knee high socks in his videos and concerts? What
happens to the demand for knee high socks?
please helppp!!

Answers

The answer would be B because demand would increase, therefore if there are more consumers there will be less product as people keep buying (therefore p decreases)

Full-service brokerage firms
a. have lower commissions.
b. offer portfolio management.
C.provide no investment advice.
d. teach you how to do market research.
Please select the best answer from the choices provided
A B C D

Answers

Answer:

b. offer portfolio management.

Explanation:

When the brokerage firms provide full service so they would offer the portfolio management that means it manages the portfolio so that the risk could be minimized and returns could be high via investing the securities in different places rather investing at one place

Therefore option B is correct

(03.02 MC)
Rachel needs a car to get to work and school. She's decided on a used car with a cost of
$9,000. According to her budget, she can afford to pay up to $275 per month in car
payments. Which loan offer is best for Rachel?
Length of
Loan
APR
Late Payment
Fee
Monthly
Payment
Total Cost of
Loan
Offer
1
24 months
4.5% $35
$393
$9,428
Offer
2
36 months
5%
$20
$270
$9.711
Offer
3
48 months
5.5% $45
$209
$10,047
Offer
4
60 months
6.5% $25
$176
$10,566
Offer 1, because it has the lowest APR and lowest total cost of the loan
Offer 2, because it has the lowest total loan cost of the offers with a monthly payment in her
budget
Offer 3, because a low monthly payment and the lowest late payment fee
Offer 4, because it has the lowest monthly payment which frees up her budget for more fun
with friends

Answers

Answer:

Offer 2:

Explanation:

I took the test and it was right :)

In a five paragraph essay compare and contrast your state's constitution with the United States Constitution, and determine the impact that each had on the development of American constitutional government. Be sure to focus on the rights granted to the people in each constitution as well as which rights appear to be the most important in each constitution.

Answers

Answer:

hi

Explanation:

How are organizational markets and consumer markets both alike and different from each other?

Answers

Answer:

Both individual consumers and organizations need to purchase products and services. The organizational and consumer markets vary in various things; they both desire to buy things so as to meet their daily duties. The difference is in how and why an organization buys goods and services alongside how a consumer shops. The contrast that exists is significant if one desires to invest in both markets. Reason for Purchase.

rent received Rs. 10,000/-​

Answers

Answer:

Okay, but where is the question or it's free points?

Here for points,please ignore me.

State the importance of agricultural experts​

Answers

Agriculture is the main source of national income for most developing countries. However, for the developed countries, agriculture contributes a smaller per cent age to their national income. Agricultural sector provides fodder for domestic animals. Cow provides people with milk which is a form of protective food.

How does M&S keep existing customers happy?​

Answers

Answer:

Im not sure

Explanation:

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