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What is Different between currency paper and notebook paper?
Currency is something people are willing to accept in exchange for goods or services. Dollar bills and coins are example of currency. Most people will not accept notebook paper in exchange for providing a good or service, and thus it is not considered currency.
What is a system in which people make and exchange goods and services?
commerce ?
In which type of society do people have specialized jobs and exchange goods and services they produce for goods and services produced by other people?
complex
During the Middle Ages people who gave their services in exchange for land were?
peasants
What is a rationing devices?
it is when the price mechanism allocate products or services to people who willing to pay the most.
What does the resource market represent?
The resource market represent a platform for exchange. People are able to exchange their products or services for money at the market.
What system is the exchange of one product for another?
Barter is a system of trade where people exchange good or services without the involvement of money.
What is a society in which people have specialized jobs and must exchange goods and services they produce for goods and services produced by other people?
A free market society.
What do people in a subsistence economy receive in exchange for their labor?
In a subsistence economy, people typically receive basic goods and services in exchange for their labor, primarily to meet their immediate needs for survival. This can include food, shelter, clothing, and other essential resources produced within the community. The exchange is often direct and based on barter rather than monetary transactions, emphasizing self-sufficiency and communal support. As a result, individuals contribute to the economic well-being of their families and communities rather than participating in a broader market economy.
Why there are tourism?
That's because a) There are people who want to see other places. b) There are businesses who are willing to sell such people services and products.
What is profit seeking organisation?
are the group of people provide goods and services in exchange of money or to get profit
Why do people accept US money in exchange for goods and services?
The value of a good or service can be measured with money.
