--%>

Define the for whom query in market system

The market system responses the “for whom?” query with: (i) distributing goods on the basis of require. (ii) using central planning to coordinate production decisions. (iii) catering to consumers with adequate resources to demand goods. (iv) reserving all exhaustible resources for future generations. (v) relying upon a mix of queuing and random selection.

I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.

   Related Questions in Business Economics

  • Q : Explain how an increase in state

    Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.

  • Q : Founder of modern economics The person

    The person along with, arguably, the top claim to the name “founder of modern economics”: (1) John Stuart Mill. (2) Karl Marx. (3) John Maynard Keynes. (4) Joan Robinson. (5) Adam Smith. Hello guys I wa

  • Q : Regulate prices to ensure against

    Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu

  • Q : Describe Financial Leverage Briefly

    Briefly describe Financial Leverage? In what manner it is calculated? What does low or high financial leverage signify?

  • Q : Utilitarianism of Jeremy Bentham The

    The utilitarianism of Jeremy Bentham is generally closely akin to the philosophies of: (1) Epicurianism and hedonism. (2) pragmatism and instrumentalism. (3) asceticism and stoicism. (4) dialecticism and materialism. (5) fundamentalism and predestinat

  • Q : How do you account for the dominant

    How do you account for the dominant role of corporations in the U.S. economy?

  • Q : What are economic resources What are

    What are economic resources? What are the major functions of the entrepreneur?

  • Q : Goods and services are scarce because

    Explain:  “Goods and services are scarce because resources are scarce.”  Analyze:  “It is the nature of all economic problems that absolute solutions are denied us.”

  • Q : Parking meters may yield little or no

    Explain: “Even though parking meters may yield little or no net revenue, because of the rationing function they perform nevertheless be retained”

  • Q : Market Apparent program For the

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi