How does consumer sovereignty determine the types and quantities of the goods produced in a market economy?

How does consumer sovereignty determine the types and quantities of the goods produced in a market economy? Consumer sovereignty (demand) determines the types and quantities of goods to be produced given the scarce resources of the economy. Consumers spend their income on the goods and services that they most want. Consumers’ dollar votes determine which […]

Why are carpetbaggers called carpetbaggers?

Why are carpetbaggers called carpetbaggers? The term carpetbagger, used exclusively as a pejorative term, originated from the carpet bags (a form of cheap luggage made from carpet fabric) which many of these newcomers carried. The term came to be associated with opportunism and exploitation by outsiders. Why were Northerners who moved to the South in […]

Why is government debt bad for the economy?

Why is government debt bad for the economy? Growing debt also has a direct effect on the economic opportunities available to every American. If high levels of debt crowd out private investments in capital goods, workers would have less to use in their jobs, which would translate to lower productivity and, therefore, lower wages. Why […]

Why is Washington DC so important?

Why is Washington DC so important? Founded in 1790, the nation’s capital has been a dynamic city with plenty of highs and lows to match its place in American history. Founded on July 16, 1790, Washington, DC is unique among American cities because it was established by the Constitution of the United States to serve […]

What state capital is Madison?

What state capital is Madison? Wisconsin What is Wisconsin’s capital city? Madison Where in the USA is Wisconsin? Wis., Wisc. listen)) is a state in the upper Midwestern United States, bordered by Minnesota to the west; Iowa to the southwest; Illinois to the south; Lake Michigan to the east; Michigan to the northeast; and Lake […]

What does the concept conservation refers to?

What does the concept conservation refers to? Conservation refers to a logical thinking ability that allows a person to determine that a certain quantity will remain the same despite adjustment of the container, shape, or apparent size, according to the psychologist Jean Piaget. What does conservation refer to quizlet? Conservation refers to a logical thinking […]

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