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How do markets help an economy address the three coordination tasks of deciding how what and to whom?
Wiki User
∙ 13y ago
How is a question of how we utilize resources efficiently. This is done through specialization and comparative advantage. What is a question of which possible combination of goods should we produce. This can be determined through a system of exchanges with in the market. Consumers can drive up the price of a good through demand, which requires supplier to produce more. On the other hand, suppliers can produce too much of a good where consumer want less which decreases the demand. Lastly, to whom indicates who gets the good. There is no central direction as to who gets the goods. it's really all about preference of consumer and producer, and of course money.
Wiki User
∙ 13y ago
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Brazil has the worlds what economy?
The economy of Brazil is the world's seventh largest and eighth largest by purchasing power parity. Brazil has moderately free markets and an inward-oriented economy. Its economy is the largest in Latin American nations and the second largest in the western hemisphere. Brazil is one of the fastest-growing major economies in the world with an average annual growth rate of over 5 percent.
What is the difference between vertical coordination and vertical integration?
Vertical coordination: The process of ensuring that each successive stage in the production, processing, and marketing of a product is appropriately managed and interrelated to the next, so that decisions about what to produce, and how much, are communicated as efficiently as possible from the consumer to the producer. Agricultural economists believe that vertical coordination of markets is particularly important in the food industry because of its complexity, the large number of firms that participate in one or more stages, and the relative perishability of the products involved. Vertical integration is a type of vertical coordination, but the latter does not necessarily require that a single organization own or control all of the stages. For example, the use of contracts and marketing agreements between buyers and sellers, and the availability of timely, accurate price and other market information are methods for achieving vertical coordination.
Who discovered the percents?
It was a tax imposed in Roman times in the markets as a 'sales tax'
What is a barra?
A barra is a slang term for a barrow - a hand-pushed cart such as one found and used in markets.
Does the US use metric units?
Generally no although most scientists do. As does anyone involved in manufacturing for international markets.
How did the nationalization of the markets affect the economy?
the economy experienced panics
How did the nationalization of markets affect the economy?
the economy experienced panics
Did open markets serve to stimulate the countries economy?
tralse
What caused your government to be the way it is now?
The stock markets and economy.
How does a market economy coordinate factor and product markets?
8=====(-)
What is the process of creating transnational markets politics and legal systems in order to develop a global economy?
The process of creating a global economy through transnational markets and political and legal systems
Does the Indian economy get any benefit from globalisation?
The Indian economy does get benefit from globalization because the economy is allowed to access markets in many countries.
What are Roles of Capital Market Authority to the economy?
roles of capital markets
What role did did railroad in the southern economy?
They shipped materials to northern markets
Why would national leaders support large transportation system?
It was a way to get goods to markets faster and cheaper, which would help the economy.
How are goods produced in a mixed economy?
In general the mixed economy is characterized by the private ownership of the means of production, the dominance of markets for economic coordination, with profit-seeking enterprise and the accumulation of capital remaining the fundamental driving force behind economic activity.
Why is Toyota on developing new cars for emerging markets instead of focusing on existing markets?
based on the worlds economy everybody's in it for the money.
