“For whom to produce?”
is the one economic question among the following choices given in the question that is addressed by targeting teenage buyers.
What economic question is addressed by targeting teenage buyers?
“For whom to produce?”
is the one economic question among the following choices given in the question that is addressed by targeting teenage buyers.
Is united states currency officially backed today?
Answer: Officially currency of United States
is not backed today
. Explanation: Legal currency is backed by support of foreign investor and by government acceptance, but there is no official backing of US currency.
What would most likely cause a decrease in quantity supplied?
When the price of a product is decreased, the
amount of profit
that the suppliers could obtain would also be decreased. Because of this, the amount of supply for the product would most likely be reduced since the supplier would be trying to shift to another products that give higher rate of profit.
What is the purpose of money Flvs?
FLVS offers multiple half-
credit Personal Financial Literacy courses to support students on their path to developing strong financial knowledge and understanding
.
Why do economics study the money supply?
Why do economists study the money supply? It is
important to study the supply of money so we can understand how accessible money is in our system
. Because money can exist in different forms and in different kinds of accounts, it can be more or less liquid.
Which line indicates an increase in demand?
Determinants of Demand
This is simply a movement along the demand curve. A change in demand is when the entire demand curve moves to the right or to the left. A change in demand creates a new schedule of price and quantity relationships.
A shift to the right
indicates an increase in demand as shown in Figure 2.
What is U.S. dollar backed by?
Fiat currency is legal tender whose value is backed by
the government that issued it
. The U.S. dollar is fiat money, as are the euro and many other major world currencies. This approach differs from money whose value is underpinned by some physical good such as gold or silver, called commodity money.
Are any currencies backed by gold?
Fiat money is a government-issued currency that
is not backed by a commodity such as gold
. … Most modern paper currencies, such as the U.S. dollar, are fiat currencies. One danger of fiat money is that governments will print too much of it, resulting in hyperinflation.
What replaced the gold standard?
1 2 The gold standard was completely replaced by
fiat money
, a term to describe currency that is used because of a government’s order, or fiat, that the currency must be accepted as a means of payment.
What are the 6 factors that affect supply?
- Price of the given Commodity:
- Prices of Other Goods:
- Prices of Factors of Production (inputs):
- State of Technology:
- Government Policy (Taxation Policy):
- Goals / Objectives of the firm:
What are the 7 factors that cause a change in supply?
The seven factors which affect the changes of supply are as follows: (i) Natural Conditions (ii) Technical Progress
(iii) Change in Factor Prices (iv) Transport Improvements
(v) Calamities (vi) Monopolies (vii) Fiscal Policy.
Is food a normal good?
Normal goods
has a positive correlation between income and demand. Examples of normal goods include food staples, clothing, and household appliances.
What is the purpose of money?
Money is a medium of exchange; it
allows people to obtain what they need to live
. Bartering was one way that people exchanged goods for other goods before money was created. Like gold and other precious metals, money has worth because for most people it represents something valuable.
What is equilibrium price?
The equilibrium price is
where the supply of goods matches demand
. When a major index experiences a period of consolidation or sideways momentum, it can be said that the forces of supply and demand are relatively equal and the market is in a state of equilibrium.
What will most likely be the result of imposing an effective price ceiling on a particular product?
A price ceiling is likely to result in:
a persistent shortage, a transfer of surplus from producers to consumers
, and inefficiency. When the government imposes a limit on sales of a good or service by a quota, it usually issues a license that gives the owner the right to sell a given quantity of the good.
