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What else can I help you with?
Which term came from the pratice of slaves trading or bartering produce among themselves and illegally selling surplus?
The term "bootlegging" came from the practice of slaves trading or bartering produce among themselves and illegally selling surplus goods.
How can one determine producer surplus from a table?
To determine producer surplus from a table, subtract the cost of production from the price at which the product is sold. The difference represents the producer surplus, which is the benefit that producers receive from selling their goods at a price higher than their production costs.
A black market is?
Trading in prohibited or restricted products without the consent of the 'authorities'. Illegal buying & selling of goods. Not paying taxes on those products.
What are surplus goods?
Surplus goods refers to the profit made in an economy, these goods could be any number of things eg money, resources .... Surplus goods are the result of an efficient economy usually one that is a free market economy
How to calculate the producer surplus in a market?
To calculate the producer surplus in a market, subtract the minimum price that producers are willing to accept for a product from the actual price they receive for it. This difference represents the producer surplus, which is the benefit producers gain from selling their goods at a higher price than they were willing to accept.
How exchange rate has affected BOP?
If the amount spent on goods and service by UK buyers is greater than the amount received from selling goods and services abroad, the UK will experience a balance of payments deficit (trade deficit). If the reverse occurs then the UK will experience a balance of payments surplus (trade surplus)
What is the definition of an effective price floor?
Government sets the minimum selling price and prices of goods are not supposed to fall below this price. This Causes Surplus and purchasers Overpay.
How did minoans create surplus?
The Minoans made their surplus of goods through trade.
How do you trade surplus goods?
Hey use your brain if you have surplus goods then find someone who is willing to trade. Not exactly the smartest question you can ask.
What term came from the practice of slaves trading or bartering products among themselves and illegally selling the surplus?
The term that came from this practice is "black market." It refers to the illegal buying and selling of goods and services outside of organized trading networks and regulations.
Why did Senator Albert J Beveridge claim that the U.S. needed to expand trade into overseas markets?
to sell America's surplus of goods
Why did the Indus valley trade?
So that they could swap goods they had in surplus for goods they needed from elsewhere.
