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3 years ago

What is nation’s plan for answering the key economic questions?

Business

1 answer:

Alecsey [184]3 years ago

5 0

Explanation:

economic decision-making

process of choosing which wants among several options will be satisfied

producers

individuals and organizations that determine what products and services will be available for sale

economic system

a nation's plan for answering the three economic questions

economic resources

means through which goods and services are produced

needs

things that are required in order to live

scarcity

not having enough resources to satisfy every need

supply

quantity of a good or service that businesses are willing and able to provide

consumer

person who buys and uses goods and services

command economy

system in which resources are owned and controlled by the government

goods

things that you can see and touch

capitalism

private ownership of resources by individuals rather than by the government

traditional economy

system in which goods and services are produced the way they have always been done

mixed economy

system that combines elements of the command and market economies

demand

quantity of a good or service that consumers are willing and able to buy

market price

point where supply and demand are equal

wants

things that add comfort and pleasure to your life

services

activities that are consumed at the same time they are produced (things that others do for you)

trade-off

giving up on something to have something else

opportunity cost

value of the alternative you did not choose

market economy

system in which the resources are owned and controlled by the people of the country

economic choices

you can't have everything so you must choose

what are the 6 tips in the economic decision making?

1. define the problem

2. identify your choices

3. evaluate your choices

4. choose one

5. act on your decision

6. review your decision

(DieCar)

unlimited wants

wants that are never-ending and build off each other

what are the three economic resources or also known as factors of production?

a. natural resources

b. human resources

c. capital resources

natural resources

resources that come from the earth, water, or air (oil, ,gold, copper, etc.)

human resources

people who work to produce your goods and services (people in labor)

capital resources

tools, building, equipment that are used to produce them

what is the basic economic problem for businesses and families?

scarcity

competition

a contest among sells to get consumers to buy their product (you)

freedom of choice

buy what you want and where you want

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Answer:

A. A multi-country strategy is generally superior to a global strategy.

Explanation:

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Also there are no fixed exchanged rates plus the designs of the product are not fixed for another country as it depends on the customer demand which type of product they needed. Moreover, the growth rate is also different in different countries

Hence, option A is correct

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4 years ago

create your brief definition of advertising including the two supplemental terms competitive act and informative act.

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Answer:

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3 years ago

As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation f

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Answer:

A. Debit Equipment and credit Cash.

You purchase equipment and you pay in cash.

B. Debit Dividends and credit Cash.

You paid cash dividends.

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D. Debit Equipment and credit Common Stock.

You received equipment in exchange for common stock.

E. Debit Cash and credit Unearned Revenue.

You received cash in advance for some food that you will deliver in the future.

F. Debit Advertising Expense and credit Cash.

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G. Debit Cash and credit Service Revenue.

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4 years ago

A consumer's subjective perception of how a product or brand performs on different attributes based on personal experience, adve

Anestetic [448]

Answer:

Beliefs

Explanation:

Belief define how a consumer perceives performance of a product or a brand. It plays a vital role since it can either be either positive or negative. towards an object. The strength of the belief is weighted by the evaluation of the perceived attributes of the product. This influences whether consumers will choose to buy the goods and services or not. It is therefore important for marketers to understand this and come up with strategies to make sure their brand or products fully meet customers' expectations and needs.

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4 years ago

How do self-interest and competition affect the market.

ikadub [295]

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Explanation: Hope this helps :)

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3 years ago