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How do people use currency to provide for goods and services?
People use currency to provide goods and services by spending and buying
What is difference between service industry and retail industry?
The retail industry is exchanging money for goods while the service industy does not provide physical goods rather money for the service that the professional is providing, i.e. retail examples; store clerks, salesperson service examples; carpet cleaners, teachers
In the circular flow of goods and services what does the government use money payment to provide?
Goods and services
What are the characteristics of services compared with goods?
Goods are a tangible item where services are not tangible that provide a value to a consumer.
What is meant by the term provide a services?
goods
What is the difference between manufacturing and services?
Manufacturing produces goods. Services provide services.
What are the objectives of public sector?
1.Ensure the essential goods and services are available for everyone equally; 2.Provide the goods and services that are too important for the security of the country; 3.Provide goods and services that cannot be provided by the private sector.
What do businesses provide for the outside parties?
Goods and services
What types of goods and services do Chester zoo provide?
They provide the service to see animals and sell goods in the shop in chester Zoo.
In the circular flow of goods and services what does the government use money payments to provide?
Goods and services
When might it be desirable for a government to act as producer of goods and services with regards to economics?
Discussion of areas of market failure. This will be expressed in general terms - syllabus mentions the government as a producer of goods and services but does not deal with public and merit goods.
What is a word describing activities that produce goods or provide services?
Industry
