What incentive do manufacturers have to sell products?
Aria Murphy 
Unit 1 Exam
| A | B |
|---|---|
| What is opportunity cost? | most desirable alternative given up for the decision |
| Competition | struggle among various producers for the consumer’s business |
| What incentive motivates a manufacturer to sell a product? | making profits |
| What is the purpose of competition? | act as a regulating force in the marketplace |
What is the main incentive that manufacturers have to sell their goods in a free market system?
What incentive do manufacturers have to sell their products? What is one of the most important advantages of a free market? It encourages growth. You just studied 12 terms!
What is the main incentive for a business?
Businesses run with motive of earning profit.
What is the greatest incentive manufacturers have to sell their products?
Eco Final
| Question | Answer |
|---|---|
| What is the product market1/ | the market in which households purchase the goods and services that firms produce |
| What incentive do manufacturers have to sell their product | making profits on sales |
| In what kind of an economy does the government make all the decisions | centrally planned |
Who was a free market philosopher?
Adam Smith was an 18th-century Scottish economist, philosopher, and author, and is considered the father of modern economics.
What is the main incentive for a business in a market economy?
The advantages of a market economy include increased efficiency, productivity, and innovation. In a truly free market, all resources are owned by individuals, and the decisions about how to allocate such resources are made by those individuals rather than governing bodies.
What is the most likely to happen when consumers want to buy more scooters than the store has available for sale?
What is the most likely to happen when consumers want to buy more scooters than the store has available for sale? Price of the scooter will increase.
