1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andreyandreev [35.5K]
3 years ago
14

Three basic decisions must be made by all economies. What are they?

Business
1 answer:
KiRa [710]3 years ago
5 0

Answer:

3 basics decision that need to made or taken by all the economies are

1. What to produce

2. For whom to produce

3. How to produce

Explanation:

The 3 basic decisions which should be made by the all economies are:

1. What to produce - Under this, the economies need to decide that what product or service they need to produce, which is liked by the consumers or purchased by the consumers so that they could sell their product in the market and earn profit out of it. In this, the economy need to take care of the needs or demand of the consumers and produce accordingly.

2. How to produce - Then the second decision is regarding how to the produce the goods or services, which the customers or consumers want as they have the limited resources available with them and from that they cannot produce all the products. So, they need to choose or decide.

3. For whom to produce or who consumes it - Under this, they required to take the decision regarding that for whom they are producing the goods or services whether it is a company or a consumer or economy.

You might be interested in
The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $3,044. A
Inessa [10]

The correct options are

A)$4,332B)$3,734C)$3,072D)$5,086

Answer:

$5086

Explanation:

Total cost is defined as the amount spent in a production process which involves variable cost such as labour and raw materials which change with volume of production.

In addition fixed cost that remain constant with volume of production are also considered as part of total cost.

In the give scenario

Direct materials is $3,044

Direct labour cost is $15 * 46 = $690

Machine use cost $13 * 104 = $1,352

Total cost = 3,044 + 690 + 1,352 = $5,086

3 0
3 years ago
Why do markets exist?
xenn [34]
To provide a place for people to trade goods and services
5 0
3 years ago
Read 2 more answers
In mixed economies, governments also tend to take into state ownership troubled firms whose continued operation is thought to be
Archy [21]

This is true. If a firm is considered to be of national interest (i.e. defense or national security), in a mixed economy, the government can take control of the failing business.

3 0
2 years ago
Steel mill inc. Makes steel forms of substandard quality. Tower building company has never bought or used a steel mill form, but
rjkz [21]

The best ground on which the defendant ( Company S ) can dismiss the suit filed by the plaintiff (Company T) is the standing to sue.

<h3>What is standing to sue?</h3>

Standing to sue refers to a situation where the plaintiff who has filed the case must prove with appropriate proof of having damages or injuries in respect of the conduct of the defendant.

In the provided case, Company T has to prove that the products of Company S are actually defective through appropriate evidence. If Company T can't able to prove their alleged claim before the court, then the case is decided in the favor of the defendant party, that is, Company S.

Therefore, the standing to sue can be used as a ground by Company S for dismissing the claim of Company T.

Learn more about the standing to sue in the related link:

brainly.com/question/14820416

#SPJ4

4 0
2 years ago
Werner installs custom sound systems in cars. If he installs seven systems per day, his total costs are $300. If he installs eig
sergiy2304 [10]

Answer:

$100

Explanation:

Total cost if he installs seven systems = $300

Total cost if he installs eight systems = $400

Therefore, the marginal cost of installing 8th system is the difference between the total cost of installing eight systems and the total cost of installing seven systems.

Marginal cost of installing 8th system:

= Total cost of installing 8 systems - Total cost of installing 7 systems

= $400 - $300

= $100

The profit maximization conditions says that the marginal cost must be equal to the marginal revenue.

Hence,

William will install eight systems per day only if the eight customer is willing to pay at least $100.

8 0
3 years ago
Other questions:
  • Which of the following best explains what happens when a currency is pegged to the U.S. dollar? A. The U.S. Treasury gets to det
    9·1 answer
  • Depreciation expense on factory equipment is part of factory overhead cost.<br> A. True<br> B. False
    10·1 answer
  • You can do financial transactions through mobile banking using a A.Smartphone B. Home phone C.Smart Card D.Computer
    15·1 answer
  • Campbell Clothing produces men's ties. The following budgeted and actual amounts are for 2016:
    8·1 answer
  • Three large firms dominate the telecommunication industry of United Canava: AD Telecom Inc., Mystic Telecom Corp., and Total Tal
    5·1 answer
  • Tara is using Search Audiences to reach her most valuable customers. Which direct benefit might she obtain by using Search Audie
    10·1 answer
  • The National Transportation Safety Board has proposed a new regulation that would require children under the age of two to be st
    10·1 answer
  • A single commercial bank must meet a 25% reserve requirement. If it initially has no excess reserves and then $2,000 in cash is
    15·1 answer
  • Outdoor Adventures, Inc. operates a chain of very large stores that offer an incredible selection of sporting goods at very comp
    13·1 answer
  • Geometrica designs and builds domes and space frames for large buildings. While the company had developed quality standards over
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!