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Germany is well known for producing cars (Audi, Volkswagen, Porsche) and heavy industry in the Ruhr area (chemicals, coal, steel). Germany relies heavily on SME for production. Main industries are mechanical engineering, automotive and electrical engineering.
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LaoMachine building, automobiles, electrical engineering and electronics, chemicals, and food processing.
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What determines what goods and services are produced?
Consumers determines what goods and services are produced.
What are the four fundamental economic questions?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
For whom are goods and services produced in a market economy?
Goods and services are produced for consumers . What the consumer wants, the entrepraneur or company will give..
What three questions define the economy of a society?
what goods and services should be produced? How should goods and services be produced? who should get and use the goods and services?
