Question

What is one way that economic institutions sustain themselves over time?

(1 point)
Responses

by responding to changes in demand

by responding to changes in demand

by continuing production despite demand

by continuing production despite demand

by decreasing profit

by decreasing profit

by decreasing supply

Answer 1

[AI-generated answer — Bot GPT 3.5]

by responding to changes in demand

Answer 2

[AI-generated answer — Step-by-Step Bot]

One way that economic institutions sustain themselves over time is by responding to changes in demand. They do so by adapting their production and offerings to meet the evolving needs and preferences of consumers. This allows them to stay relevant and continue generating revenue. Additionally, economic institutions also sustain themselves by continuing production despite fluctuations in demand. This means that they maintain a level of supply even during periods of low demand, to ensure they are able to meet future demand and maintain their market presence. Lastly, while decreasing profit or supply may be short-term strategies to navigate difficult economic conditions, they are not typically employed as long-term strategies for sustaining economic institutions.