Questions and Answers
How do consumers decide what should be produced in a market economy?
Consumers decide through the purchases they make.
Who decides what products are needed in a command economy?
A central planning committee decides.
In a market economy, who can buy more goods and services?
People who have more money.
How are economic decisions made in a command economy?
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In a mixed economy, who works together in decision-making?
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Why do we learn economics?
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Why do we learn economics?
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How can managers benefit from studying economics?
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In what ways can individuals use economic analysis on a personal level?
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What role does economics play in evaluating public policies?
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How does studying economics benefit managers in decision-making?
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