In the early 1800's, Spain held this territory, but it was soon taken over by the new government in Mexico. I hope this helps!
In order for production to take place, the question of what is to be produced must be answered. Who will receive the goods and services? must be answered for the production to take place.
<u>Explanation:</u>
The maximum and efficient utilization of the available resources is a big challenge that is being faced by any kind of society. This is because of the scarcity present in that society. There are three questions that can be used for the purpose of solving the problem related to economy. They are:
- What type of goods and services should be produced?
- How to produce the decided goods and services?
- Who will be consuming the produced goods and services?
For example a manufacturer must decide whether he must produce some appliances for kitchen or some weapons. Then he must decide how to produce those goods. He must decide the material that he must use to produce those goods. Then he must decide to whom will he serve these goods. He must decide whether to serve these goods with people in first-come basis or based on the education level, age, etc.
Answer: Consumer Spending has decreased recently
Explanation: That’s the right answer
Answer:
C. If the firm were to charge more than the going price, it would sell none of its goods.
Explanation:
A price-taker firm is defined as an individual company which must accept the prevailing prices in the market, lacking a market share to influence the market price on its own.
If a company is considered as a price taker in the competitive market, it does not have the power to influence the present market price by the quantity of the products it produces.
Thus if a price taking firm can charge more for a product than the going market price, then it would not sell its products.
Hence the correct option is (C).
