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What concepts does Adam smith use to describe the amount of money commonly paid for any commodity?
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∙ 6y ago
Market price
Mac O'Connell
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Which concept does Adam Smith use to describe the amount of money commonly paid for any commodity?
Market price
Which concept does Adam smith use to describe the amount of money commonly paid for any comodity?
Market price
What is Commodity backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
What is Commodity-backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
Why do stocks rise when the dollar falls and what is the correlation?
dollar value has decreased but the commodity value is the same. The same amount of dollar will not be able to purchase the commodity at earlier prices so the price increases in the commodity market
Commodity that a person had to own a certain amount of in order to be eligible to vote?
Land :)
What is the law of decreasing opportunity cost?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
Commodity that a person had to own a certain amount of in order to be eligable to vote?
land :D
What two units of energy are measured?
There are more than 2 units of energy available to describe energy.Example of unitJoules (J) is the basis unit of energy in SI.Calories (Cal) is commonly use in food and is the unit of energy.Ton Oil Equivalents (TOE) commonly use to describe large amount of energy in fuel especially in national scale.British Thermal Units (BTU) commonly use in heating and cooling and describe heating value of fuel gas.kilo Watt hour (kWh) commonly use to describe electric energy by times the power with hour of usage.
What is the law of decreasing opportunity cost theory?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
Which financial company provides commodity trading information?
Thomson Reuters provides a large amount of information in commodity trading. they provide an insight in several fields and they include guides in each of them.
Define consumer's surplus Explain the difficulties in its measurement?
It's the amount a buyer is willing to pay for a commodity, minus the actual amount the buyer pays.
