--%>

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 : Market Economy Define the term Market

    Define the term Market Economy and also state its advantages and disadvantages?

  • Q : Meaning of Economic Development

    Question Discuss what "economic development" means in the context of this game? (Hint: How do you win, and what do you have at the end of the game that you did not have at the beginning of the game?)

  • Q : Impact of dollar on aspects of

    Question Discuss the impact of dollar depreciation on the various aspects of American Economy. Devaluation of the DollarIntroduction:

  • Q : Recycling center Suppose you go to a

    Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans.  However, the recycler charges you $.20 per bundle to accept your old newspapers.

  • Q : What is American made in today’s global

    Illustrates how hard it is to define what is “American made” in today’s global economy?

  • Q : Favor laissez- faire economic policies

    Favor laissez- faire economic policies tended by Adam Smith, who also: (w) saw the requirement for several state intervention. (x) believed there were no conditions in which the government must intervene. (y) supported most government

  • Q : Market system automatically adjustment

    Concept of Adam Smith that the market system automatically adjusts as when guided through an “invisible hand” most intimately resembles: (1) flows of electricity across the microcircuits within computer chips. (2) homeosta

  • Q : Define the for whom query in market

    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. (i

  • Q : Consumer purchase decision If the price

    If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?

  • Q : Calculating fat-tax Question: Max has a

    Question: Max has a utility function U =√ x1x2 where x1 is litres of ice-cream and x2 is boxes of strawberries. The marginal utility of a litre if ice-cream is