--%>
Assignment Help - homework help

Producers on the best combinations of resources to use

How did producers decide on the best combinations of resources to use?  Who made these resources available, and why?

E

Expert

Verified

The quest for profit led firms to produce these goods.  Producers looked for and found the least-cost combination of resources in producing their output.  Resource suppliers, seeking income, made these resources available.  Consumers, through their dollar votes, ultimately decide on what will continue to be produced.

   Related Questions in Business Economics

  • Q : Fiscal Policy Fiscal Policy : Public or

    Fiscal Policy:Public or government finance is a field of economics. This deals with budgeting the revenues and expenditures of government (i.e., or public sector). It is regarding the identi

    		•
  • Q : Decomposition of Private Sector Can

    Can someone help me in finding out the right answer from the given options. The private sector is decomposed into: (1) Businesses and investors. (2) Households and stockholders. (3) Households and investors. (4) Businesses and households.

    		•
  • Q : Define the terms Plant Define the

    Define the following terms?

    		•
  • Q : Cooperative and non-cooperative outcome

    Question: Cineplex and AMC are two rival movie theatre chains. They must each decide whether to set an admission price of $10 or set an admission price of $12; of course, the number of movie goers (and thus their r

    		•
  • Q : Answer the following questions based on

    The dataset used in this question contains data on 180 economics journals for the year 2000. The variable descriptions are as follows: logoclc - log of the number of library subscription loglibcit - log of the library subscription price per citation.

  • Q : Cornerstone of typical economic theory

    The cornerstone of typical economic theory derived through the work of Jeremy Bentham was the perception of (i) the wages fund. (ii) natural checks on population. (iii) increasing cost. (iv) utility. (v) surplus value.

    Q : Reciprocal Trade Agreements Act had

    How Reciprocal Trade Agreements Act had goal of reducing tariffs?

    		•
  • Q : An Inquiry in the Nature and Causes The

    The first comprehensive work upon economics written within English was authored through Adam Smith in 1776 year and entitled that “An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand.” (2) Wealth of Nations.” (3

    		•
  • 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 : What happens in the product markets

    What happens in the product markets?

    		•