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How does the fores of demand and supply determine what is to be produced in an economy?
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How does market economy determine its price?
Supply of the item and demand by other countries determines the price.
What is the concept of economy?
The concept of Economy is supply equals demand. Without demand there would be no supply which helps make up the economy.
Effects of supply and demand?
supply and demand effects the market economy and commodity prices. with a increase in demand commodity price increases resulting in inflation in economy and viceversa, and with increase in supply by producers there is decrease in commodity price resulting in deflation in economy.
A market economy is based on?
Supply and demand
How does supply and demand create markets?
The concept of supply and demand is one of the core foundations of economics (and is mostly applied in most of life's functions). In a nutshell, supply and demand is used for price determination in a market i.e. price will function to equalize the amount of something to be produced/serviced (supply) and the amount of something consumers intend to purchase.
What is a major aspect of a command economy?
Supply and demand determines what will be produced.
How does market economy determine its price?
Supply of the item and demand by other countries determines the price.
What is the concept of economy?
The concept of Economy is supply equals demand. Without demand there would be no supply which helps make up the economy.
Effects of supply and demand?
supply and demand effects the market economy and commodity prices. with a increase in demand commodity price increases resulting in inflation in economy and viceversa, and with increase in supply by producers there is decrease in commodity price resulting in deflation in economy.
A market economy is based on?
Supply and demand
How does supply and demand create markets?
The concept of supply and demand is one of the core foundations of economics (and is mostly applied in most of life's functions). In a nutshell, supply and demand is used for price determination in a market i.e. price will function to equalize the amount of something to be produced/serviced (supply) and the amount of something consumers intend to purchase.
What statement describe one major aspect of a command economy?
Supply and demand determines what will be produced.
Is economy part of culture?
Well technically yes. In a traditional economy, products are produced according to theway ancestors made things or in 'traditional' ways with no regard to governmental control (Command economy) or supply and demand (Market economy).
What is the basis of a market economy?
Supply And Demand is the basis of most activity in a market economy.
What Determine child trafficking?
Supply and demand.
What is the economy in which the interaction of supply and demand determines price and output?
Market Economy
What role does the consumer play in a free enterprise economy?
a consumerism play very important role in our economy. he create a demand for consumer good , and if he demand then only the goods will produced by producer or business man ,and we know very well that aggregate demand and supply is one of the important part of our economy ,so consumerism play very important role in economy.
