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What economy accepts goods and services in exchange for commodities?
Wiki User
∙ 11y ago
barter economy
Wiki User
∙ 11y ago
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In a market economy what organizes and coordinates the production of goods and services?
Exchange
In market economy what organizes and coordinates the production of goods and services?
Exchange
Five countries who's economy depend on trading of commodities?
five countries who's economy depends on trading of commodities
What does currency exchange facilitate?
In the same way that money facilitates exchange in a single economy, exchange of currencies facilitates the exchange of goods and services across the boundaries of countries.
The product market represents what?
the exchange of goods and services in the economy -Sullivan North High 2014
How did coins boost the Greek economy?
Coins boosted the Greek economy because they provided an easily portable means of exchange, as opposed to delivering goods and services.
Can one accumulate reasonable financial wealth by saving part of his salary in a highly inflated economy?
Yes, he can. For example he could go to mercantile exchange and buy commodities (gold, platinum, etc.).
What happens to the equilibrium price when supply goes down?
When supply goes down the equilibrium price tend also to fallcausing the price of commodities to fall and hence shortage of goods and services to the economy.
What is equilibrium in an open mixed economy?
Economic equilibrium is deemed to have been achieved when, theoretically, the demand for goods and services by consumers is about equal with the supply of those goods and services into the economy by the suppliers. This is generally considered to have been achieved when market prices for most commodities stabilize, with little change. When equilibrium is achieved, inflation in the market is marginal.
What is the entire african economy based on?
At present, the African economy is based on commodities and raw materials. Components of its economy include industry, agriculture, and trade.
What do you mean by an economy?
An economy (or the economy) is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems.
What type of economic system does the Bahamas have?
The Bahamian economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings. So the Bahamas has a market economy in general terms.
