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2 years ago

For what purpose are goods and services produced in a socialist economy?

Business

2 answers:

Burka [1]2 years ago

5 0

Answer: To meet all consumer needs

Explanation: In a socialist economy good and services are produces for direct use. Unlike a capitalist economy where goods and services are produced to earn profits. The purpose of producing goods in a socialist economy is to utilise the economy's scarce resources in a way that maximum consumer needs can be satisfied.

Thus, option D- to meet all consumer needs is the correct choice.

Pavel [41]2 years ago

5 0

Hi, happy to help!
D. to meet all consumer needs!
As meeting consumer needs is the only way to make profit!

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3 years ago

Describe the slope of the demand curve? How does the slope reflect the law of demand?

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Answer:

1. The slope is negative

2. The demand decreases when the prices increase.

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Describe the slope of the demand curve?

The slope of the demand curve is negative.

The demand curve is graphed on a coordinate plane with the price in the horizontal axis (typically the x-axis) and the demand on the vertical axis (y-axis).

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$slope=\dfrac{\text{change in demand}}{\text{change in price}}$

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