The goal of a pure market economy is to best meet the desires of a. consumers b. companies c. workers d. the government

The goal of a pure market economy is to best meet the desires of
a. consumers
b. companies
c. workers
d. the government
by

1 Answer

Answer :

a. consumers
by

Related questions

The goal of a pure market economy is to meet the desire of? a) Consumers b) Companies c) Workers d) The government

Description : The goal of a pure market economy is to meet the desire of? a) Consumers b) Companies c) Workers d) The government

Last Answer : Answer- a 

One of the features of a free market economy is - (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer's sovereignty

Description : One of the features of a free market economy is - (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer's sovereignty

Last Answer : (4) consumer's sovereignty Explanation: Consumer Sovereignty is one of the features of a free market economy. It refers to the assertion consumer preferences determine the production of goods and ... market performance is in fact responsive to the specific wants of the consumers within the system.

One of the features of a free market economy is (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer’s sovereignty

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Last Answer : consumer’s sovereignty

In a pure market economy, which of the following is a function of the price? I. provide information to sellers and buyers , II. provide incentives to sellers and buyers a. I only b. II only c. both I and II d. neither I nor II

Description : In a pure market economy, which of the following is a function of the price? I. provide information to sellers and buyers , II. provide incentives to sellers and buyers a. I only b. II only c. both I and II d. neither I nor II

Last Answer : c. both I and II

In a free enterprise economy, resource allocation is determined by - (1) the pattern of consumers' spending (2) the wealth of the entrepreneurs (3) decision of the Government (4) the traditional employment of factors

Description : In a free enterprise economy, resource allocation is determined by - (1) the pattern of consumers' spending (2) the wealth of the entrepreneurs (3) decision of the Government (4) the traditional employment of factors

Last Answer : (1) the pattern of consumers' spending Explanation: In a free market economy, resources are allocated through the interaction of free and self-directed market forces. This means that what to ... is determined by producers, and who gets the products depends upon the purchasing power of consumers.

Consumer's sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer's expenditures influence the allocation of resources. (4) consumer goods are free from government control,

Description : Consumer's sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer's expenditures influence the allocation of resources. (4) consumer goods are free from government control,

Last Answer : (1) consumers are free to spend their income as they like. Explanation: Consumer sovereignty means that buyers ultimately determine which goods and services remain in production. In unrestricted markets, ... to motivate producers. So ultimately it means how the consumers want to spend their incomes.

In a free enterprise economy, resource allocation is determined by (1) the pattern of consumers’ spending (2) the wealth of the entrepreneurs (3) decision of the Government (4) the traditional employment of factors

Description : In a free enterprise economy, resource allocation is determined by (1) the pattern of consumers’ spending (2) the wealth of the entrepreneurs (3) decision of the Government (4) the traditional employment of factors 

Last Answer :  the pattern of consumers’ spending

Consumer’s sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer’s expenditures influence the alloca tion of resources. (4) consumer goods are free from government control.

Description : Consumer’s sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer’s expenditures influence the alloca tion of resources. (4) consumer goods are free from government control.

Last Answer :  consumers are free to spend their income as they like.

From the economic system’s point of view, the role of marketing intermediaries is to transform: A. raw products into finished products. B. consumer needs into producer needs. C. consumer needs and wants into product desires. D. assortments of products made by producers into the assortments wanted by consumers.

Description : From the economic system's point of view, the role of marketing intermediaries is to transform: A. raw products into finished products. B. consumer needs into producer needs. C. ... product desires. D. assortments of products made by producers into the assortments wanted by consumers.

Last Answer : D. assortments of products made by producers into the assortments wanted by consumers.

The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus

Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus

Last Answer : (1) Consumer's Surplus Explanation: Consumer surplus is the difference between the maximum price a consumer is willing to pay and the actual price they do pay. If a consumer would be willing to pay ... price, then they are getting more benefit from the purchased product than they spent to buy it.

Which of the following is not a benefit of international trade? (a) Lower domestic prices (b) Development of more efficient methods of production © A wider selection of products for domestic consumers (d) High wage levels for all domestic workers.

Description : Which of the following is not a benefit of international trade? (a) Lower domestic prices (b) Development of more efficient methods of production © A wider selection of products for domestic consumers (d) High wage levels for all domestic workers.

Last Answer : The theory of comparative cost advantage is given by

The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus

Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus 

Last Answer : Consumer’s Surplus

A mixed economy works primarily through the - (1) market mechanism (2) central allocative machinery (3) market mechanism regulated by Government policy (4) market mechanism guided by Government participation and planning

Description : A mixed economy works primarily through the - (1) market mechanism (2) central allocative machinery (3) market mechanism regulated by Government policy (4) market mechanism guided by Government participation and planning

Last Answer : (4) market mechanism guided by Government participation and planning Explanation: Mixed economy is an economic system in which both the state and private sector direct the economy, ... enterprises and the accumulation of capital remain the fundamental driving force behind economic activity.

In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market

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Last Answer : (1) Demand and Supply Explanation: Capitalism generally refers to economic system in which the means of production are largely or entirely privately owned and operated for a profit, structured on the ... and services lead to higher prices and lower demand for certain goods lead to lower prices.

A 'Market Economy' is one which - (1) is controlled by the Government (2) is free from the Government control (3) in influenced by international market forces (4) All of these

Description : A 'Market Economy' is one which - (1) is controlled by the Government (2) is free from the Government control (3) in influenced by international market forces (4) All of these

Last Answer : (2) is free from the Government control Explanation: A market economy is an economic system in which economic decisions and the pricing of goods and services are guided solely by the ... little government intervention or central planning. The United States is the world's premier market economy

1) Which among the following could be said to be an 'Open Economy'?a) A nation that follows the doctrine of Free-market and Laissez-faire economics b) A nation that trades with other nations in goods and services and financial assets c) An economy that operates without government intervention d) None of the above

Description : 1) Which among the following could be said to be an 'Open Economy'? a) A nation that follows the doctrine of Free-market and Laissez-faire economics b) A nation that trades with other ... services and financial assets c) An economy that operates without government intervention d) None of the above

Last Answer : : b) A nation that trades with other nations in goods and services and financial assets

What does the term free-market denote in terms of economy? a) Minimal government intervention in trade and minimum regulations b) Maximum government intervention in trade and maximum regulations c) Means of production owned by the state d) None of the above

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Last Answer : : a) Minimal government intervention in trade and minimum regulations

A mixed economy works primarily through the (1) market mechanism (2) central allocative machinery (3) market mechanism regulated by Government policy (4) market mechanism guided by Government participation and planning

Description : A mixed economy works primarily through the (1) market mechanism (2) central allocative machinery (3) market mechanism regulated by Government policy (4) market mechanism guided by Government participation and planning

Last Answer : market mechanism guided by Government participation and planning

In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and supply forces in the market (3) the private-sector takes all the decisions for price-determination of various commodities produced (4) the Government controls the allocation of all the factors of production

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Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market

A ‘Market Economy’ is one which (1) is controlled by the Government (2) is free from the Government control (3) in influenced by international market forces (4) All of these

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Last Answer : is free from the Government control

In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market

Description : In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market

Last Answer :  Demand and Supply

Which of the following is not a feat tare of a capitalist economy? (1) Right to private property (2) Existence of competition (3) Service motive (4) Freedom of choice to consumers

Description : Which of the following is not a feat tare of a capitalist economy? (1) Right to private property (2) Existence of competition (3) Service motive (4) Freedom of choice to consumers

Last Answer : (3) Service motive Explanation: Capitalism is an economic system in which each individual in his capacity as a consumer, producer, and resource owner is engaged in economic activity with a large ... of businessmen, farmers, producers, including that of wage-earners are based on the profit motive.

Which of the following is not a feature of a capitalist economy? (1) Right to private property (2) Existence of competition (3) Service motive (4) Freedom of choice to consumers

Description : Which of the following is not a feature of a capitalist economy? (1) Right to private property (2) Existence of competition (3) Service motive (4) Freedom of choice to consumers

Last Answer : Service motive

Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : (3) is a measure of the proportional of the existing capital stock used for current production. Explanation: Capacity utilisation refers to the extent or level to which the productive capacity of a ... as a percentage, it is computed by dividing the total capacity with the portion being utilized.

Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : is a measure of the proportional of the existing capital stock used for current production.

When companies market products on the basis of what the product’s attributes will do for a given segment of consumers, they are using a powerful form of behavioral segmentation known as: A. occasion segmentation. B. benefit segmentation. C. user status segmentation. D. usage rate segmentation.

Description : When companies market products on the basis of what the product's attributes will do for a given segment of consumers, they are using a powerful form of behavioral segmentation known as: A. ... segmentation. B. benefit segmentation. C. user status segmentation. D. usage rate segmentation.

Last Answer : B. benefit segmentation.

Companies that focus their efforts on a narrow range of products or select group of consumers are adopting a -------------- position. A)market challenger B)market follower C)market leader D)market nicher

Description : Companies that focus their efforts on a narrow range of products or select group of consumers are adopting a -------------- position. A)market challenger B)market follower C)market leader D)market nicher

Last Answer : D)market nicher

“ What is the difference between a pure market economy and a mixed-market economy “?

Description : “ What is the difference between a pure market economy and a mixed-market economy “?

Last Answer : In a mixed-market econom, the government imposes regulations on the production of goods and services.

In a pure market economy who determines which goods and services are produced and in what quantities?

Description : In a pure market economy who determines which goods and services are produced and in what quantities?

Last Answer : Need answer

If Mattel saw the toy market as composed of four age category groupings, each with different needs and desires, each grouping would be called: A)a total market B)a market category C)a market segment D)a subsidiary market

Description : If Mattel saw the toy market as composed of four age category groupings, each with different needs and desires, each grouping would be called: A)a total market B)a market category C)a market segment D)a subsidiary market

Last Answer : C)a market segment

Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Last Answer : (3) Economic rent is the difference between the market wage and the reservation wage. Explanation: The difference between the actual market wage and the reservation wage is called economic rent. Therefore ... per-son becomes unemployed (The Goals of Macroeconomic Policy by Martin Prachowny. p. 58).

Division of labour is limited by - (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Description : Division of labour is limited by - (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Last Answer : (3) extent of the market Explanation: Division of labour is a process whereby the production process is broken clown into a sequence of stages and workers are assigned to particular stages. As it is the power ... be limited by the extent of that power, or, other words, by the extent of the market.

7. Which of the following statements is/are true? a. Business Investment Spending occurs when individuals buy stock in the stock market b. Productivity is the United States grew very slowly between 1973 and 1996 c. Because of discouraged workers, the official unemployment rate is too high d. “Full employment” occurs when there is no frictional unemployment

Description : 7. Which of the following statements is/are true? a. Business Investment Spending occurs when individuals buy stock in the stock market b. Productivity is the United States grew very slowly ... unemployment rate is too high d. Full employment occurs when there is no frictional unemployment

Last Answer : b. Productivity is the United States grew very slowly between 1973 and 1996

Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market. 

Last Answer :  Economic rent is the difference between the market wage and the reservation wage.

Division of labour is limited by (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Description : Division of labour is limited by (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Last Answer : extent of the market

The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs - (1) J.M.Keynes (2) Ohlin (3) J. B. Say (4) Galbraith

Description : The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs - (1) J.M.Keynes (2) Ohlin (3) J. B. Say (4) Galbraith

Last Answer : (3) J. B. Say Explanation: The classical economists' belief in full employment as a normal condition of a free market economy is based on Say's Law of Markets. It was on the ... overproduction and hence general unemployment were impossible. The law simply states "supply creates its own demand."

The National Mission for Sustainable Agriculture (NMSA) aims at which of the following? a. Enhancing agricultural productivity, protection of resources such as land, water, biodiversity and genetic resources by developing strategies to make agriculture more resilient to climate change. b. Improving agricultural productivity by providing timely advisory services to farmers to adopt best practices, technology, meet with contingencies, market information, etc. c. Notifying agricultural commodities produced in the region and providing their first sale mechanism. d. Providing Irrigation benefits to the farmers to ensure early completion of projects.

Description : The National Mission for Sustainable Agriculture (NMSA) aims at which of the following? a. Enhancing agricultural productivity, protection of resources such as land, water, biodiversity and ... mechanism. d. Providing Irrigation benefits to the farmers to ensure early completion of projects.

Last Answer : a. Enhancing agricultural productivity, protection of resources such as land, water, biodiversity and genetic resources by developing strategies to make agriculture more resilient to climate change.

The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs (1) J.M.Keynes (2) Ohlin (3) J.B.Say (4) Galbraith

Description : The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs (1) J.M.Keynes (2) Ohlin (3) J.B.Say (4) Galbraith

Last Answer : J.B.Say

In government auditing, the three elements of expanded scope auditing are a. Goal analysis, audits of operations, audit of systems. b. Financial and compliance, economy and efficiency, program results. c. Pre-audit, post-audit, internal audit. d. National government audit, local government audit, corporation audit

Description : In government auditing, the three elements of expanded scope auditing are a. Goal analysis, audits of operations, audit of systems. b. Financial and compliance, economy and efficiency, program ... , post-audit, internal audit. d. National government audit, local government audit, corporation audit

Last Answer : Financial and compliance, economy and efficiency, program results.

What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods 

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc. 

Globalisation means - (1) Integration of economy (2) Integration of financial market (3) Integration of the domestic economy with the world economy (4) Integration of the various sectors of economy

Description : Globalisation means - (1) Integration of economy (2) Integration of financial market (3) Integration of the domestic economy with the world economy (4) Integration of the various sectors of economy

Last Answer : (3) Integration of the domestic economy with the world economy Explanation: Globalization is the process of international integration arising from the interchange of world views, products, ... globalization refers to processes that promote world-wide exchanges of national and cultural resources.

)A very high rise in National Income at current market prices and a low rise at constant prices reveals - (1) the high rate of growth in the economy at the current period (2) the increased production in the current period (3) the improper growth of the economy (4) the high rate of inflation prevailing in the economy

Description : )A very high rise in National Income at current market prices and a low rise at constant prices reveals - (1) the high rate of growth in the economy at the current period (2) the increased ... period (3) the improper growth of the economy (4) the high rate of inflation prevailing in the economy

Last Answer : (3) the improper growth of the economy Explanation: When national output is multiplied by present ruling price, we obtain national income at current prices. On the other hand if the national output is ... not indicate increase in product or output, but is rather due to the rise in price level.

If the total production in an economy is produced by “a few big firms” than this market is known as (a) Monopolistic Competition (b) Duopoly (c) Oligopoly (d) Discriminating Monopoly

Description : If the total production in an economy is produced by “a few big firms” than this market is known as (a) Monopolistic Competition (b) Duopoly (c) Oligopoly (d) Discriminating Monopoly

Last Answer : (b) Duopoly

If the total production in an economy for a product is produced by a few big firms, then this market is known as : (a) Monopolistic Competition (b) Oligopoly (c) Duopoly (d) Discriminating Monopoly

Description : If the total production in an economy for a product is produced by a few big firms, then this market is known as : (a) Monopolistic Competition (b) Oligopoly (c) Duopoly (d) Discriminating Monopoly

Last Answer : Oligopoly

Globalisation means (1) Integration of economy (2) Integration of financial market (3) Integration of the domestic economy with the world economy (4) Integration of the various sectors of economy

Description : Globalisation means (1) Integration of economy (2) Integration of financial market (3) Integration of the domestic economy with the world economy (4) Integration of the various sectors of economy

Last Answer : Integration of the domestic economy with the world economy

A very high rise in National Income at current market prices and a low rise at constant prices reveals (1) the high rate of growth in the economy at the current period (2) the increased production in the current period (3) the improper growth of the economy (4) the high rate of inflation prevailing in the economy

Description : A very high rise in National Income at current market prices and a low rise at constant prices reveals (1) the high rate of growth in the economy at the current period (2) the increased production ... (3) the improper growth of the economy (4) the high rate of inflation prevailing in the economy 

Last Answer :  the high rate of inflation prevailing in the economy

MIS is designed to provide information needed for effective decision making by? A) Consumers B) Workers C) Foremen D) Managers

Description : MIS is designed to provide information needed for effective decision making by? A) Consumers B) Workers C) Foremen D) Managers

Last Answer : Answer : D

Advertising that encourages consumers to send in cards for additional information aids salespersons in achieving which goal of personal selling? A)Convincing prospects to buy B)Finding prospects C)Keeping customers satisfied D)Making the presentation E)Following up the sale

Description : Advertising that encourages consumers to send in cards for additional information aids salespersons in achieving which goal of personal selling? A)Convincing prospects to buy B)Finding prospects C)Keeping customers satisfied D)Making the presentation E)Following up the sale

Last Answer : B)Finding prospect