Question

Some large hardware stores such as home depot boast of carrying as many as 20,000 different products in each store. this volume of goods is the result of the purchasing agents of home depot who have determined what goods producers have available. the choice of consumers regarding what to purchase to satisfy their wants and the choice of producers regarding what to produce to maximize profits. the purchasing agents of home depot who have determined what goods consumers want. the choice of consumers regarding what to purchase to satisfy their wants and the choice of producers regarding what to produce to satisfy their wants.

Answer 1

True, because producer decisions are motivated by the attempt to earn profits.18. Consider the following statement: “Competition is the disciplinarian of the market economy.”This statement istrue, because when producers face competition they are driven to provide goods and services at the lowest possible cost.19. Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. This volume of goods is the result ofthe choice of consumers regarding what to purchase to satisfy their wants and the choice of producers regarding what to produce to maximize profits.