Examlex
Ayan is responsible for quality control for an automobile manufacturer and recently made the decision to suspend production when test results for completed cars fell below the manufacturer's standards. What type of decision is this?
Consumers' Desire
The willingness or inclination of consumers to purchase goods and services based on their preferences and needs.
Allocation Of Resources
The process of distributing available resources among various competing needs or projects in an economy.
Five Fundamental Questions
The five fundamental questions refer to key economic questions any economy faces about what goods to produce, how to produce them, for whom to produce, how to accommodate change, and how to promote innovation.
Scarce Supply
A situation where the availability of a product or service is limited relative to the desire or demand for it.
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