0
What is an economic system in which individuals make decisions on what to produce called?
Wiki User
∙ 12y ago
Market Economy
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
The study of the economic behavior of individuals and firms is called?
Meaningful statement about the economic behavior or the economy is called?
What is An economic system in which the government makes all economic decisions?
it's called a command economy
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
What is The type of government that controls all economic and political decisions is called what?
chippendale
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
The study of the economic behavior of individuals and firms is called?
Meaningful statement about the economic behavior or the economy is called?
What is An economic system in which the government makes all economic decisions?
it's called a command economy
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
What is The type of government that controls all economic and political decisions is called what?
chippendale
Why do some individuals produce more offspring than others what is this called?
It is called fecundity.
When genetic disorders produce a variety of symptoms across different individuals the phenomenom is called?
pleiotropy
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
What is a manufactured good that is used to produce other goods and services called an economic want or a capital resource?
Capital
What is a manfactured good that is used to produce other good and services called an economic want or a capital resource?
RESOURCE?
In the US central and state governments work together to make political economic and socila decisions for all citizens this form of government is called?
a democracy
Why people make economic decsions?
People make economic decisions because they are necessary to satisfy their material desires. Economics is a social science which describes how people react and produce in conditions of scarcity, which exists when they are unable to satisfy all of their desires within their power or ability. Economics inherently means that people must manage, trade, and produce to meet their desires for both basic things (food, shelter, etc.) and more advanced things (technology). People must make these decisions because scarcity exists and thus they have to optimise their outcome (utility) based on their constraint (also called budget).
What is the economic system of the US Called explain how it works-?
capitalist economy, Karl Max describe a system in which a small group of people who control large amounts of money, or capital, make the most important economic decisions.
