industrial revolution
capital goods
the prices increases, and the goods become expensive.
Industrialization.
Elastic goods are goods where a change in price leads to a change in the quantity demanded. Examples of this would be clothes. If Store X raised their prices, the public would substitute and buy clothes from Store Y instead. Inelastic goods are where a change in the price does not lead to a significant change in the quantity demanded. A good example of this would be medicine. Even if a pharmaceutical company increases their prices, their customers STILL need their medication, so they will still purchase it at the higher price. A change in elasticity can arise from the market for certain products expanding. A good can become more elastic if more substitute goods are introduced to the market. On the other hand, a good can become more inelastic if substitute goods are taken off the market.
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
industrial revolution
The best resource for finding handmade goods on the Internet is Etsy. Etsy is a site where people can display their handmade goods and offer them for sale.
manufactured goods cost less to make than handmade goods
by handmade wooden boats.
Etsy is a website that features handmade goods by artists worldwide. Available products include handmade jewelry, clothing, journals, and artwork such as prints and sculptures.
Anything along the lines of sewing, baking, or basically anything you make with you own two hands.
They purchased locally-made items, or fashioned their own handmade implements.
Etsy is a great place for handmade gift from artisans who want to showcase there craft. They have decent prices for quality goods and you can find unique pieces that you don't see anywhere else.
One could sell handmade bulldog stuffed animals at a variety of places. One could try starting on Etsy. Etsy is a website that allows users to sell their handmade goods as well as supplies to make them. One could also start up a Facebook page to advertise their goods and put an e-commerce store on the Facebook page to make ordering easy.
capital goods
the prices increases, and the goods become expensive.
Silk, tea, spices, woven tapestries, and other handmade things were exchanged on the Eastern Silk Road.