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True. They can be termed as consumers. The person who buys the goods or services is the customer and person who uses the product is consumer. This can be understood by following example, 'a mother buying diaper is the customer, and baby who uses it is the consumer.
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How production possibility frontier provide an insight into the issue of scarcity and choice which an economy faces when deciding what goods and services to produce?
Since resources are limited,the society cannot get all the goods and services the people want.And hence some mechanisms are used to guide the use of resources in the production of goods and services to satisfy as many as people wants as possible. When the society do not know what to produce,the Production Possibility Frontier [PPF] is used to represent a boundary between those combination of goods and services which can be produced and those which cannot be produced.
Trading without the use of money is called?
Trading without the use of money is called bartering. In bartering, goods or services are exchanged directly for other goods or services without using a medium of exchange like money.
What was the time period called When did people use machines to make goods?
The Industrial Revolution
What is the movement of people and goods in Poland?
Poland is an industrialized country. Many people use cars or railway. Waterways aren't popular, and air travel is seen as very expensive.
What did people use when there was no money?
It depends because in even 600 bc the Romans were using coins as money. but then you can look at uncivilized areas of that era and they were still bardering (trading goods for goods). \
What are people called who use goods or services?
Generally, consumers. Other people who participate in an economy are called economic agents.
People who use resources to make goods andor provide services are called?
entreprenuer
Which group of players use the goods and services produced in the game of economics?
Consumers.
What is the name given to describe people who use goods?
The people who use goods, consume the goods, SO ... They are called Consumers.
How do people use currency to provide for goods and services?
People use currency to provide goods and services by spending and buying
People consume particular goods or use particular services because the goods or services have?
utility
What services are offered by FreeBay?
The services offered by Free Bay are for people who have goods or excess goods they don't need or use anymore. They have also introduced the Swop Shop page where a person can trade goods for goods, goods for services, services for goods, and services for services.
What does consumers mean?
In the food chain, a consumer or consumers means one animal or person, or a group of animals or people, that eats or uses something else for survival. Everything in a food chain consumes something else. Consumers can in return become producers for other living things to consume.In business and shopping, or where money is exchanged for goods or services, consumers are people who use those goods and services. A consumer buys and uses.
What is a product market?
Product market is the place where goods and services are created and sold by businesses. This does not include trading instead focuses on finished goods purchased by the public sector and foreign buyers.
What does it mean when they use the phrase Supply in the global economy?
Goods and services are produced in one country and imported to another to be sold to consumers.
What is the relationship between producers and consumers in economics?
Producers make the goods and consumers buy and use the goods.
How are goods services and people transported within Austria?
they use boats
