Explain the market system and the command system with a chart?

Q: What is The Market System

A: Introduction A market system generally means a network where commodities are sold and purchased.…

Q: What is the importance of supply chain?

A: Supply chain management involves the activities that are from the supply side to maximize the…

Q: Market structure

A: The market is a mechanism which would result in a arrangement in which the buyers and sellers would…

Q: What types of farming occur near Mississauga, Ontario? Why?

A: Cash crops like  oilseed and grain farming –– fruits and vegetables,  soybeans and corn – are the…

Q: Discuss resource market.

A: A resource market is a market where a business can proceed to buy resources to deliver labor and…

Q: What do you think are the most important competencies you must possess in order to be successful in…

A: The best way to properly implement my chosen level approach would be to use a cost leadership…

Q: How does the government intervene on the market?

A: There are three types of economic structure which are command or socialist economy, capitalist…

Q: Marcie wants to work as a freelance editor. She purchases a desk, computer, widescreen monitor, and…

A: In economics, goods are products that fulfill human needs and, for example, offer utility to a buyer…

Q: Putting Virtual Reality on the Market: Is It Possible?

A: virtual reality markets include brands advancing themselves and their items by utilizing virtual and…

Q: 15) Refer to Table 3-3. The table contains information about the corn market. Use the table to…

A: The equilibrium quantity of corn is where the quantity demanded = quantity supplied. In the…

Q: PART A: Several years ago, hurricane Gilbert destroyed thousands of acres of banana in Jamaica.…

A: Natural disasters like hurricanes, floods, etc hugely affect the agricultural sector. They cause…

Q: "Costs do not affect the market price" is this statement right or wrong? Show your work

A: Answer: According to a prior research of price determination in the market age, production expenses…

Q: where

A: Resource implies to all the materials accessible in our environment which are technologically…

Q: economics for lawyer

A: The law and economy communicates in various ways. Economics and lawyers is the economic survey of…

Q: As you know about the market (like perfect and imperfect) write in your words about the market which…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Mass production

A: The manufacturing of a large amount of a standardized product is called mass production. It is used…

Q: A market is any arrangement that allow buyers and sellers to exchange things

A: # Buyers and sellers engage into the activity of the transaction of goods and services. Such…

Q: Because the companies have a great deal of economic _______________ they can decide what products to…

A: Because the companies have a great deal of the ECONOMIC DEMAND they can usually decide what products…

Q: opportunity cost of producing a product from zero

A: Opportunity cost is the benefit that can be driven by not choosing the other alternative.

Q: what to produce

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Take a practical example to describe a form of market structure. Draw illustrations if needed.

A: Market Structure refers to different categories in which industries are classified based on the…

Q: Do you feel a business’ primary responsibility is to make a profit, or do you feel there is some…

A: The primary responsibility of business is not only to make profits but there are certain other…

Q: What is Organization in terms of business?

A: In business, organization is an institution or an entity which consists of one or more than one…

Q: What goods and services—and how much of each—will be produced?

A: In a nutshell, an economy must distribute its resources and pick between several possible bundles of…

Q: What is a cooperative? What are the types of cooperatives?

A: A cooperative (also known as a co-operative, co-op, or coop) is "an autonomous group of persons who…

Q: Give action words that Best describe farming starting with the letter found in the word f-a-r-m.

A: F - Feed, Fertility, Fertiliser, Farmland A - Afforestation, Arable, Agrochemical R - Ranch, Reap,…

Q: Why are the businesses required to keep the production costs low?

A: Any businesses have the motive of maximizing profits, and we obtain profit by deducting total costs…

Q: How might productivity be measured in a dry cleaners?

A: Organizations should measure and evaluate their productivity levels to know how are they utilizing…

Q: What is the biggest industry today.

A: An industry is known as the branch of economy that produces raw material, goods, or other services…

Q: What would be the solution?

A: TFC = TC at 0 level of Output TC = TVC + TFC AVC = TVC/Output

Q: pen down a note on ECONOMICS.

A: Economics is a subject matter which deals with production, consumption and distribution of goods and…

Q: What is imperfect market

A: The market is a location where the transaction of services and commodities takes place.

Q: What is commercial

A: Commercial: - The activities which involve the exchange of goods and services are called commercial.

Q: What are the four forms of business?

A: There are mainly four type of business forms.

Q: Choose a simple economic term and explain it.

A: Opportunity cost It is the best alternative foregone.

Q: Several years ago, hurricane Gilbert destroyed thousands of acres of banana in Jamaica. Farmers…

A: Because of the hurricane most of the crops were destroyed and the market supply went down but the…

Q: Why do you think technology is important in your studies?

A: Answer to the question is as follows:

Q: Goods produced on small scale have

A: Formula to calculate elasticity of supply:- ES=∆QS∆P×PQS Where; Q= Quantity supplied P= Price

Q: What are the wants and constraints of those involved?

A: Wants is something that is desired and it is unlimited.  Wants can be satisfied by consuming goods…

Q: Define Technology?

A: Technology means developing machinery and equipment from the application of scientific knowledge. In…

Q: societies make decisions about who gets the goods they produce by:

A: In a society, producers generate different types of products and services to offer I remarks that…

Q: Advantages of market economy

A: A market economy  in which the forces of supply and demand generate price signals that drive…

Q: hat were some decisions students had to make when they decided to start a business?

A: The activities which depict making money through the production and selling of products to consumers…

Q: 3. The following table contains a group of products and what is required is to classify them…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…