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What will the price of manufactured goods do if they can make more of the product?
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What are some determinants of individual supply?
The price of the product, the price of input goods that are used to make it, the state of the industry's technology, government taxes and subsidies and expectations about the future market price of the good.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
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.
Why would the price of goods increase each time it exchanged hands from Asia to the Middle East to Europe?
The price of the goods would rise to cover the cost of the additional transport and, additionally, make the act of transporting the goods profitable.
When would it make sense for a factory that is losing money remain in operation?
If the revenue from the goods being manufactured exceeds the operating cost
What is the explanation for the role of target costing?
Target Costing refers to the design of product, and the processes used to produce it so the ultimately the product can be manufactured can be manufactured at a cost that will enable the firm to make a profit when the product is sold at an estimated mark driven price . This estimated price is called the target price.
What is the word for to make into a finished product?
To make into a finished product is manufacture, manufactured, manufacturing.He manufactured a new product.
What is product pricing?
Product pricing is the act of giving goods a price to be sold at. This is usually after factoring in various factors like the cost of production so as to make a profit.
What are some determinants of individual supply?
The price of the product, the price of input goods that are used to make it, the state of the industry's technology, government taxes and subsidies and expectations about the future market price of the good.
Why did the cottage industry disappear?
manufactured goods cost less to make than handmade goods
Why did the Europeans want a place to sell their manufactured goods?
to make money
Is the word make a noun?
Yes, the word 'make' is both a verb and a noun. The noun make is a word for a particular kind of manufactured goods, a brand; the manner or style in which a thing is constructed. Example: The price of a car is based on the make and the model.
Why would Spain offer manufactured goods instead of the raw materials from the Americas when trading for African slaves?
African tribes lacked the technology to make European manufactured goods.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
Is manufacturing and producing of goods different?
Yes. The manufacture of goods is to make an end product, usually through machinery or combining items together to make a product, whereas production of goods could be through growing a single product or to quality assess them.
Is the word 'making' a noun?
Yes, the word 'make' is both a verb and a noun. The noun make is a word for a particular kind of manufactured goods, a brand; the manner or style in which a thing is constructed. Example: The price of a car is based on the make and the model.
What is the main product of its economy in Mexico City?
Manufactured goods. Greater Mexico City is a metropolis of 21.16 million inhabitants; its economy is highly diversified but trade and financial services make most of the city's income.
