Which of the following is not included in the decisions that every society must make? a. What goods will be produced? b. Who will produce goods? c. What determines consumer preferences d. Who will consume the goods?
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a. What goods will be produced?
b. Who will produce goods?
c. What determines consumer preferences
d. Who will consume the goods?
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- Which of the following questions is not answered by the decisions that every society must make? a. What determines consumer preferences? b. What goods will be produced? c. Who will produce the goods? d. Who will consume the goods?In which kind of market, the consumer gets benefitted and whywhat is the significance of economics. Explain in details.
- What examples do you have of goods or services that are both consumer goods and resources depending upon the context in which those goods are used?Which statement best describes the role of consumers in economics? They provide wide range of services. They decide where to sell goods They determine how to use resources. They control production costs.In deciding to produce a given good, an individual would always choose A. The process that uses the most capital goods B. The most productive process available C. The shortest and most productive process available D. The shortest process available
- Which of the following best demonstrates the influence of economic factors on consumer decision-making? a. A consumer buys a Lexus after her neighbors and garden club pals each buy one. b. A married couple with three young children purchase a minivan. c. A blue collar worker holds off on buying a new truck, pending potential layoffs at work. d. A young professional buys a utility vehicle for off-road exploring.What are the pros and cons of market economy?Explain why the goal of a society, production or consumption, has important implications for analysis and policy.
- Choose the statement that does not describe Microeconomics. a. The effect of an increase in the Tax on cigarettes on cigarette sales b. The purchasing decisions that an individual consumer makes. c. The effect of increasing the money supply on inflation. d. All of theseThis study seeks to understand and explain the behavior of individuals, as such, consumers, producers, labor, investors, business firms, etc. as they respond to changes in their economic environment. Select one: a. Positive economics b. microeconomics c. macroeconomics d. normative economicsEconomics is the study of all of the following except:a. how the prices of goods and services are determinedb. how people make decisions, given scarce resourcesc. how to eliminate scarcity with new ideas and inventionsd. how buyers and sellers interact in a marketPlease don't use any ai tool.