Fantasy of Lights is a business that makes and sells Christmas lights. Fantasy of Lights makes over 6,000,000 twinkle lights each year. Fantasy of Lights sells their Christmas lights for a price set by the demand of the consumer. What economic system is this?

Answers

Answer 1

Answer:

Market Economy

Explanation:

A market economy is a system where the laws of supply and those of demand direct the production of goods and services. 1 Supply includes natural resources, capital, and labor. Demand includes purchases by consumers, businesses, and the government. Businesses sell their wares at the highest price consumers will pay.

Related Questions

⚠️I need help with homework!⚠️ The question given was, "Choose one way that people can participate in the political process to discuss and record an example of what that might look like in real life." Please help me!

Answers

Answer:

Here is an answer for YOU!

Explanation:

One way that people can participate is to VOTE! Voting is out right that lets us get our voices heard. This is participating in the political process becuase choosing a leader is a key part of our process.

Voting is a great example. If you don’t vote then your voice is not heard by the government.

Israel has few mineral resources and agriculture is difficult in the region due to water scarcity. How does Israel maintain a high standard of living?
A
by specializing in low-skilled industries

B
by specializing in high technology and service industries

C
by creating barriers to trade to lessen the impact of foreign competition

D
by creating alliances with neighboring countries to ensure access to resources

Answers

D I think the is the right answer

Israel has few mineral resources and agriculture is very difficult in the region due to water scarcity. But the people of Israel have a higher standard of living this is mainly because Israelis have grown in high-technology and also service industries. Hence, option B is appropriate.

What is the standard of the Israeli people?

The standard of the Israeli people leading their lives is very high compared to the people around the globe. This is mainly because the Israelis have over time, made themselves self-dependent. Even though Israel never had agriculturally fertile lands due to the scarcity of water this did not stop them from becoming a developed country.

The standards of the Israeli people are quite high. They have one of the best educational institutions in the world- The Hebrew University of Jerusalem. the country of Israel has high-end technologies and pharmaceuticals which earn them profits from around the world.

The Israelis have higher standards of living, high-quality education, plus equal distribution of per capita income. Hence, option B is correct.

Learn more about the standard of the Israeli people here:

https://brainly.com/question/27491038

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