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How would you describe an economy that uses it's resources to make the greatest possible number of goods and service?
Wiki User
∙ 8y ago
Efficient.
Okey Veum
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How would you describe an economy that uses resources to make the greatest possible number of goods and services?
Efficient.
How would you describe an economy that uses it resources to make the greatest possible number of a good and services?
Efficient.
Does market economy need competetion?
To allocate resources efficiently and provide the greatest possible consumer and producer surplus, yes.
What is the purpose of the possible?
to show alternative ways to use an economy's resources
Is it possible for your economy to prosper without using the natural resources?
Yes. The greatest natural resource of all is human beings. Some European countries such as Italy, Austria, Switzerland and the Netherlands have very few natural resources apart from agriculture, but are prosperous.
What is representation of the possible ways an economy could use resources?
Production Possibility Frontier
Which of these does not describe a weak economy?
The government will assume a contractionary fiscal policy position.
What statement does not describe a market economy?
The problems of scarcity and allocation of resources are addressed by production for use or need rather than productio for profit.
What is the noun form of the word economy?
The word 'economy' is a noun form, a word for the wealth and resources of a country or region; a word for careful use of money and goods; a word for a thing.The word 'economy' also functions as an adjective, used to describe a noun (an economy car; an economy package).
How do these resources affect the economy in Newfoundland?
What resources
Why optimization is so important in economics?
in an economy we have limited resources with unlimited want. in order to get the maximum possible solution to meet our desire we need to ensure the optimum use of our resources.
Compare the three economy questions to command economy market economy and traditional economy?
traditional economy: resources are allocated based on custom and traditionmixed economy:resources are allcoated based on mixed informtion given.command economy: resources are allocated by the government or other central authoritymarket economy: resources are allocated by individualsCommusim
