0
What else can I help you with?
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?
* Exchange * Exchange * Exchange * Exchange * Exchange
What is tariff and why does the government use it sometimes?
A tariff is a tax imposed by a government on imported goods and services. Governments use tariffs to protect domestic industries from foreign competition, generate revenue, and influence trade balances. By making imported goods more expensive, tariffs can encourage consumers to buy locally produced products. Additionally, tariffs can be used as a tool in trade negotiations or to respond to unfair trade practices by other countries.
Why does people use transportation?
People use transportation to facilitate movement from one place to another, whether for commuting to work, running errands, or traveling for leisure. It enables access to resources, social interactions, and services that may not be available locally. Additionally, transportation supports economic activities by allowing the efficient movement of goods and services. Ultimately, it plays a crucial role in connecting individuals and communities.
What was the time period called When did people use machines to make goods?
The Industrial Revolution
Would you consider people to be producers consumers or both?
People can be both producers and consumers. As producers, they create goods or services to meet the needs of others. As consumers, they use resources to satisfy their own needs or desires by purchasing goods or services.
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
When the process of making is finished the people who use the products are called what?
The people who use the products after the manufacturing process is complete are called consumers. Consumers are individuals or entities that purchase goods or services for their own use or for resale.
What is the name given to describe people who use goods?
The people who use goods, consume the goods, SO ... They are called Consumers.
Which group of players use the goods and services produced in the game of economics?
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.
Who are called consumer?
Consumers are individuals or organizations that purchase goods or services for their own use or consumption. They are an essential part of the economy as they drive demand for products and services.
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.
