The three basic economic questions societies face are (1) what goods and services to produce, (2) how to produce those goods and services, and (3) who will get them.

In one or two paragraphs, explain how supply and demand help societies determine their answers to these three questions. Be sure to provide an example of the effect of supply and demand on a society's answers.

Answers

Answer 1

Supply and demand plays a crucial role in determining what goods to produce, how to produce such good and for whom such goods are produced.

Below you can learn more about how supply and demand helps shape these critical economic Questions.

How Supply and Demand Affect the Economy.

  The economic theory of supply and demand  let's us know what needs to be more produced and what needs to be less produced. For instance, the demand for a bread will be high, but the demand for noodles might be low, so the company will produce more loafs of bread and less noodles because the Supply and demand tells them that the people want more bread.

Supply and Demand affects how goods and services are produced. This is because these economic forces will propel individuals within the economic system to  make efforts in order to produce goods that will supply that demand and make them profit.

   Furthermore, supply and Demand helps determine who gets a particular goods in an economy. This is because Consumers may exhaust the available supply of a good by purchasing a given good or service at a high volume. This leads to an increase in demand. As demand increases, the available supply also decreases.

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Related Questions

how do you think school has changed from late 1800s to today? explain in a paragraph

Answers

Answer:

Since then, a lot has changed in schools. When schools first existed in the late 1800s, one-room buildings predominated. Grades one through eight were taught in the same classroom by the same teacher. Towns constructed one-room classrooms that measured 20 by 30 feet in size. Today's school is 166000 square feet in size. And we have bigger grades like 12th, 9th, 6th and more.

Explain how did Roosevelt’s New Deal fundamentally changed the way that Americans conceptualized the role of the federal government.

Answers

Roosevelt’s New Deal fundamentally changed the way that Americans conceptualized the role of the federal government by expanding its size and scope especially.

Based on the belief that the electricity of the federal authorities become had to get the US of an out of the depression, the primary days of Roosevelt's management noticed the passage of banking reform laws, emergency remedy programs, paintings remedy programs, and agricultural programs.

The New Deal produced a political realignment, making the Democratic Party the majority (in addition to the celebration that held the White House for seven out of the 9 presidential phrases from 1933 to 1969) with its base in revolutionary ideas, the South, massive town machines and the newly empowered hard work unions, and various.

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What powers are given to the state government

Answers

Answer:

All State governments are modeled after the Federal Government and consist of three branches: executive, legislative, and judicial.

Explanation:

How would you describe a tax that is assessed according to the benefits-received principle?
-Those who receive direct payments of the money the tax generates are the people who pay the tax.
- One group of people receives benefits from the tax but another group pays the tax.
-All groups receive benefits from the tax but not all groups pay equally.
-Those who receive the benefits the tax provides are the people who pay the tax.

Answers

A tax that is assessed according to the benefits-received principle can be described as "those who receive the benefits the tax provides are the people who pay the tax".

People find the benefits-received principle appealing because it seems fair—those who benefit from a service should be the ones who pay for it. Supporters contend that greater taxes on particular goods or services should be levied against taxpayers who use them more frequently than those who do not.

It might be challenging to distinguish between commodities and services that are for the benefit and maintenance of the entire country as opposed to just one person. The benefits received rule opposes double-counting charitable contributions as a tax law.

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What Act of Congress stated that any slaves of people in rebellion who escaped behind Union lines would be free?
A.
First Confiscation Act
B.
Second Confiscation Act
C.
Contraband Act
D.
Emancipation Proclamation

Answers

The first Confiscation Act of Congress stated that any slaves of people in rebellion who escaped behind Union lines would be free.

The answer is option A.

The preliminary Emancipation Proclamation of September 22, 1862, said that the slaves in all areas distinctive as being in rebel as of January 1, 1863, could "be then, thenceforward, and all the time free."

The initial proclamation additionally reiterated Lincoln's help for compensated emancipation and voluntary.

On December 2, 1861, Trumbull introduced the Confiscation Act of 1862 to allow for the seizure of all accomplice property, whether or not or no longer it had been used to aid the rebel.

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in which two islands did the portuguese have their sugar plantatitions

Answers

Madeira and Verde hope it helps

2. Why did the Founding Fathers choose to adopt a Constitution?

(1 point)

A. to give states rights within the nation

B. to give individuals rights within their states

C. to outline the powers of a new federal government

D. to limit the powers of the existing federal government


The answer is C. a different person aked this question. theese are the answers they got: 1 person said A. and the other person said B. and those are incorrect. The corect answer is C.

I hope this helps = ) <3 ​

Answers

The Founding Fathers, the framers of the Constitution, wanted to form a government that did not allow one person to have too much authority or control. While under the rule of the British king they learned that this could be a bad system.

Why did the Founding Fathers adopt the Constitution?

The purpose of our constitution was to establish a just and equitable system of government. To achieve independence from Great Britain, Americans fought in the Revolutionary War. The establishment of a government for the people of the newly formed United States of America was necessary after we won the war.

The Pennsylvania State House in Philadelphia hosted the convention from May 25 to September 17, 1787. The convention's stated goal was to amend the Articles of Confederation, but it was actually spurred by severe economic problems that gave rise to radical political movements like Shays' Rebellion and a call for a stronger central government.

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Plants, animals, and metals can be classified as which factor of production?
O capital
O labor
Oland
O services

Answers

Answer:

land.

Explanation:

because they live on land.

using the internet and chart, look for push and pull factors influencing migration 1492-1830

Answers

The push and pull factors influencing migration 1492-1830 are:

The push factors  are:

Political turmoilPoverty Drought

The pull factors are:

Political stabilityA big number of jobsPlentiful natural resources

What encouraged and dissuaded people from immigrating?

People from many different nations decided to leave their home countries and travel to the United States. Because they thought the United States was the home of economic opportunity, many individuals emigrated there to escape problems including crop failure, land and employment shortages.

People leave their homeland for many reasons, such as poverty, a lack of social mobility, violence, or persecution. Pull factors are the justifications for why a person might want to reside in a particular country.

Keep in mind that pull factors entice people to move to new places, whereas push ones encourage emigration from one place to another. For instance, having a large number of jobs is a powerful pull factor, whereas having a high unemployment rate is typically a push factor.

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7. What makes salsa dance a “Hispanic” thing and not an American thing?

Answers

Answer:

The influence of salsa grew rapidly to become popular all over Latin America and within Hispanic communities worldwide. Salsa is a Latin dance, associated with the music genre of the same name, which was first popularized in the United States in the 1960s in New York City. Salsa is an amalgamation of Cuban dances, such as mambo, pachanga and rumba, as well as American dances such as swing and tap. This genre of music and dance is fundamental to the Hispanic/Latinx community. This Cuban-originated music and dance have become one of the most well-known dances in the world. In the United States, varying versions of salsa can be found. Salsa was originally most recognized in Cuba and Puerto Rico, but really was cultivated into its own style within the Latino community in New York. Salsa is actually a blend of several Caribbean musics and dance styles such as Cha cha cha, Rhumba, Mambo, Cumbia, Festejo, and many more.

Answer:

Salsa is a Latin cotillion , associated with the music kidney of the same name, which was first vulgarized in the United States in the 1960s in New York City. Salsa is an admixture of Cuban balls, similar as mambo, pachanga and rumba, as well as American balls similar as swing and valve.

How did european colinialism lay the groundwork for the emergence of modern middle east?

Answers

European colonialism created the conditions for the contemporary middle east to arise.

From the Atlas Mountains in the West to the Malay Archipelago in the East, and from Sub-Saharan Africa to the steppes of Central Asia, there are currently more than fifty Muslim republics.

It also includes a few of the world's smallest islands, like the Maldives and Comoros, as well as several well-known countries like Nigeria, Bangladesh, Indonesia, and Pakistan.

Strong nations like Bosnia-Herzegovina have efficient political systems. Turkmenistan, Saudi Arabia, Brunei, Libya, and Brunei are blessed with abundant natural resources. Malaysia is the seventh-highest exporting nation in the world in 1997.

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What does the top map seem
to say about Israel?

Answers

Answer:

Isreal has weekend in the past few years

Which of the following was NOT a reaction to the
Battle of Little Bighorn?
A
B
D
a call to increase military spending for the U.S.
army
a lack of sympathy towards Native Americans
a critique of U.S. policy toward Indian tribes
a mass call for the U.S. to stop all westward
expansion

Answers

General Ranald Mackenzie, a former scourge of Commanche and Kiowa Indians in Texas, was dispatched to the region as one of the government's most successful Indian fighters.

a call to increase military spending for the U.S. army was NOT a reaction to the Battle of Little Bighorn.

How did the U.S. react to the Battle of Little Bighorn?General Ranald Mackenzie, a former scourge of Commanche and Kiowa Indians in Texas, was dispatched to the region as one of the government's most successful Indian fighters.As a result of the Battle of Little Bighorn, government policy toward Plains Indians was altered. They now intended to confine Plains Indians to their reservations. The battle was also used by the government as an excuse to disregard any previous treaties made between the US government and Plains Indians.The Battle of Little Bighorn was a decisive victory for the Sioux in the short term, but it only worsened relations between Native Americans and the United States government in the long run.

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Probably the most revolutionary aspect of the Industrial Revolution was:
A. the introduction of labor-saving machinery.
B. the imposition of a new time discipline throughout daily life.
C. the reorganization of labor in factories.
D. the dramatic growth of industrial cities.
E. the exploitation of new forms of energy.

Answers

The most revolutionary aspect of the Industrial Revolution was: A. the introduction of labor-saving machinery.

What was Industrial Revolution?

An agrarian and handicraft economy was replaced by one that was dominated by industry and machine manufacturing during the Industrial Revolution in modern history. As a result of these technological advancements, society was fundamentally altered and new modes of living and working were introduced.

In the eighteenth century, this process started in Britain and then spread to other nations. The English economic historian Arnold Toynbee (1852–83), who used it to describe Britain's economic growth from 1760 to 1840, although the term had previously been used by French writers, is credited with popularizing it.

Since Toynbee's time, the term has been used more widely to describe a process of economic transformation as opposed to a time period in a specific environment.

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The Industrial Revolution's greatest revolutionary feature was: A. the development of labor-saving equipment.

What is Industrial Revolution?
During the Industrial Revolution in modern history, an economy dominated by industry and machine production replaced one that was agrarian and handicraft-based. These technological developments radically changed society and brought about new ways of living and working. This method began in Britain in the seventeenth century and later expanded to other countries. Although the word had previously been used by French writers, it is believed that English economic historian Arnold Toynbee (1852–83) is responsible for popularising it. He used it to characterise Britain's economic boom from 1760 to 1840. Since Toynbee's time, the phrase has been increasingly frequently used to refer to an economic transition process as opposed to a specific historical period or climate.

Therefore, the correct option is A
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