A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

How do producers and consumers work together in economics?

Best Answers

Producers and consumers are connected by trade and prices. Economic forces like supply and demand determine the extent of the relationship between producers and consumers in a given market. read more

Producers and consumers are connected by trade and prices. Economic forces like supply and demand determine the extent of the relationship between producers and consumers in a given market. For example: If bananas are in high demand during the winter, producers will have to up their production to meet consumer expectations. read more

Producers and consumers are connected by trade and prices. In a free-market society, every trade makes a producer and a consumer wealthier. Wealth is measured in individual satisfaction and nothing else. So when a producer and a consumer decide to enter into a trade, both of them believe that they will be more satisfied, and thus wealthier. read more

Producers and consumers are connected by trade and prices. In a free-market society, every trade makes a producer and a consumer wealthier. Wealth is measured in individual satisfaction and nothing else. read more

3) Economics describes the reasons products are scarce. 4) Economics explains the roles of producers and consumers. 5) Economics shows how people work together to make money. read more

Encyclopedia Research

Related Facts