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AnnyKZ [126]
2 years ago
8

How does a market economy answer the three economic questions?

Business
1 answer:
love history [14]2 years ago
7 0

Answer:

A market economy answers the three economic questions by allocating resources and goods through markets, where prices are generated.

There are two extremes of how these questions get answered. In command economies, decisions about both allocation of resources and allocation of production and consumption are decided by the government. In market economies, there is private ownership of resources—established though property rights—and the factors of production and consumption are all coordinated through markets. In a market system, resources are allocated to their most productive use through prices that are determined in markets. These prices act as a signal for buyers and sellers. Most economies are mixed economies that lie between these two extremes.

In either system, a rational agent would allocate resources and production using marginal analysis. In command economies, this is more difficult to do because without markets, prices fail at being an effective signal.

Explanation:

I hope this helps!!

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Evaluate the business and charitable contributions of andrew carnegie and john
Jet001 [13]

Both Carnegie and Rockefeller were the biggest businessmen and the riches in the 20th century. After all their great amount of profits garnered, both had individually decided to embark in a journey of charities. Carnegie had charity contributions that were made into school such as the Carnegie Institution, Tuskegee Instituion, and a lot more. He was dubbed as the patron saints of libraries and decided to set up more charitable foundations. Rockefeller on the other had a lot of charities and activities that gave away his excess money into charitable causes. He too had built schools by starting to build University of Chicago.

But with all their charitable and business contributions, I would say I like Carnegie more because it gave away of a lot of technologies we know of today and he is working on a principle he deeply believes in that after gaining your wealth you should contribute this wealth for the general welfare. However, Rockefeller too was great and focused his contributions on public service.

8 0
3 years ago
Which of the following sentences presents the bad news most effectively?
dsp73

Answer:

D. To keep our costs low and our prices competitive, Nelson Hardware only offers refunds for unused merchandise returned within 30 days with a receipt.

Explanation:

It is challenging to present bad news effectively. The managers or leaders have to deal with it in their day-to-day activities.

A. The first option is a direct "No". Therefore it is a piece of direct lousy news. It cannot represent an effective way of presenting bad news.

B. The second option tells the situation from the formal way of showing bad news. However, it does not represent any effectiveness.

C. The third choice shows the negative form of acknowledging faulty news. In this case, bad news becomes worse.

E. The last option suggests the same way as the first choice represents.

D. The fourth choice shows courtesy, formal business communication, and effectiveness by reasonably saying all the things. Therefore, when the conversation represents the formal business exercise or application, it presents a piece of bad news effectively.

4 0
3 years ago
For any given product, _____ is determined by what the market will bear.
viktelen [127]
The answer to this question is Price
The amount of price of a certain products usually indicates the amount of expense the consumers are willing to pay considering the value that the product will give to them. 
This will really vary depending on the rarirty of the products and the purchasing power in the market.
5 0
3 years ago
Stor Manufacturing stores hazardous and volatile chemicals in its warehouse. The warehouse has state-of-the-art equipment to mak
Dima020 [189]

Answer:

liable for Williams injuries

Explanation:

Hello! Astor, being a possessor of dangerous products for the organism, has to take precautions so that in unexpected cases such as a meteorological incident his merchandise does not harm anyone. In this case, he is totally responsible for William's injuries for not preventing before.

Thanks for your question!

7 0
3 years ago
Read 2 more answers
The income elasticity of demand is the percentage change in the ________ divided by the percentage change in ________.
Kisachek [45]

The income elasticity of demand is the percentage change in the <u>quantity​ demanded</u> divided by the percentage change in <u>income</u>.

Elasticity refers back to the diploma of the sensitivity of a variable consistent with every other variable's trade. in this manner, you could truly diploma the alternate in the aggregate product call for with appreciation to fee adjustments. In different phrases, it is called elasticity of call for.

An example of merchandise with an elastic demand is consumer durables. those are devices that may be purchased every now and then, like a washing device or an automobile, and can be postponed if the rate rises. as an example, automobile rebates were very a success in growing car earnings by using lowering the rate.

Learn more about elasticity here: brainly.com/question/5078326

#SPJ4

6 0
1 year ago
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