Which Best Explains Why Improvements In Communication Technology Allow People To Make Better Economic Decisions?

Which best explains why the free market system follows a circular flow model?

Which best explains why the free-market system follows a circular-flow model.

Free choices made by consumers and producers influence each other..

Which situation is the best example of competition in an economic system?

Which situation is the best example of competition in an economic system? A small CD store slashed its prices to attract customers from a larger store that sells CDs and DVDs.

What is the best description of technology?

Technology is the way / humans extend their abilities / through their environment to meet wants and needs. Technology is an action that involves a detailed progression called the Technological Design Process. Technology is also sometimes defined as human innovation in action.

Which is the most direct benefit to consumers from the Internet?

Which is the most direct benefit to consumers from the internet? It is easier to compare prices. Which explains why the internet can help people make better economic decisions? Information is crucial for making good decisions.

What is one way technology can improve the distribution of goods?

What is one way that technology can improve the distribution of goods? Workers can take Internet classes to gain new skills. Automation can create goods more cheaply and easily. Businesses can hire factory workers across the world.

Which technological improvement did the assembly line bring?

The technological improvement that the assembly line brought a) greater productivity. An assembly line is “a manufacturing process in which parts are added as the semi-finished assembly moves from workstation to work station where the parts are added in sequence until the final assembly is produced.

What improvement did the shipping container bring?

The arrival of containers and intermodalism revolutionized the shipping industry. Containers could be efficiently stacked, allowing more and more goods to be transported across the seas. Labor costs were dramatically lowered and, since containers were sealed, theft was reduced.

When technology advances which of the following always takes place?

When technology advances, the option that always takes place is that results are improved.

What are two forms that technological advancement can take?

The two forms of technology are better devices and improved method.

How can the use of new technology in industry benefit?

How can the use of new technology in industry benefit the US government? The government can purchase materials from anywhere. The government can rely on automation to reduce costs. The government can react to economic changes quickly.

How free choice is protected in a free market?

Consumer decisions affect producers, and producer decisions affect consumers. Which best explains how free choice is protected in a free-market system? – Consumers and producers protect their own freedom by making economic decisions. – The government makes and enforces whatever laws are needed to guarantee free choice.

Which of the following is the most direct benefit businesses enjoy as a result?

The correct answer would be option C, Online businesses don’t need to have as many employees. The above mentioned statement is the most direct benefit businesses enjoy as a result of online sales.

What is most likely to occur when technology advances?

Which is most likely to occur when technology advances? Results are improved.

Which is another term for a free market system?

The term “free market” is sometimes used as a synonym for laissez-faire capitalism. When most people discuss the “free market,” they mean an economy with unobstructed competition and only private transactions between buyers and sellers.

Which best explains why property rights are necessary in a free market system?

Answer Expert Verified. Property rights are essential to a free-market principle because it gives the owners of their property full control over its use. This full control enables property owners to use their resources in the most efficient way possible, and maximize the total benefit of these resources.