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Goods or services that pertains to the same function. They are close substitutes with distinguishable features i.e. different packaging, shape size etc, unlike Homogenous goods which are undifferenciated
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Why did some colonist smuggle goods?
Because there was money to be made in smuggling. There were no taxes paid to the government for smuggled goods. This meant that the seller could keep all of the profits, and/or get goods much cheaper.
Who is the father of economics why he called father of economics from which word economics derived?
John Maynard Keynes"Father of Economics" some says that "Adam Smith" is the real father of economics
What kind of politicial and economics changes did Hungarian Prime Minister Imre Nagy put into place?
Nova Net Review Test Answer: He made certain that political prisoners were kept in jails.
What did the ancient Egyptians use their currency economics?
Egypt started out with a 'barter' economy, exchanging goods that they had for goods that they wanted. Gradually, barter was replaced by paying with items of value which often were gold or silver but not yet in the form of coins. Their weight or size determined the value of your payment. Around 500BC Egyptians started using (silver and copper) coins.
What is the Filipino first policy?
It is a policy where Filipinos should be first before anyone else. It applies mostly to economics where they'll give priority to a Filipino entrepreneur to supply for us than importing goods from other countries. Jo
What is abnormal and Inferior goods in Economics?
Abnormal and inferior goods in economics are goods that are not of the best quality or the normal variety.
How would you describe heterogeneous shopping goods?
Heterogeneous shopping goods have product features that are often more important to consumers than price
Economics is about the allocation of resources for the production and distribution of goods?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
What is heterogeneous goods?
Heterogeneous goods are factors contributing to a consumer good other than the price. Is usually asked on the consumer's opinion or feeling about the product itself.
What is consider service in economics?
goods
What Economics is about allocating resources to produce and distribute?
Economics is about the allocation of resources for the production and distribution of goods and _services_
Why do you discuss private goods and public goods in economics?
because we have no lives
What is called in economics that are meant to skills and talent in economics?
fifhr sins
What are the Kinds of goods in economics?
kinds of goods is eight part 1. free goods 2.
What are final products in an economics?
Final goods.
What are public goods and private goods?
Public goods are goods meant for everyone to share. Private goods are goods meant for one person or one small group of people.
What is the relationship of economics and socialscience?
Economics is the ssc that analyzes the production, distribution and consumption of goods and services.
