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Services that are performed for us are considered consumed?
They are consumed goods.
What kind of good is consumed together like peanut butter and jelly?
Complementary goods are consumed together.
When is demand when absolute price elasticity of demand equals 2.5?
Meaning that if prices change by 1%, the change in quantity would be 2.5% (at $100/piece, 1000 goods are consumed. if the price rises to $101, only 975 goods are consumed. And if the price falls to $99, 1025 goods are consumed.)
Why is production complete when it get to the final consumer?
because goods are produced to be consumed
What effect does a complementary goods price have on the demand of another good?
Complementary goods are consumed in conjunction with each other, this means their demand moves in the same direction. An increase in price of one good lowers it's demand, less of it is consumed and less of the complement good is also consumed. The opposite occurs when price falls, demand for both goods increases.
Services that are performed for us are considered consumed?
They are consumed goods.
What kind of good is consumed together like peanut butter and jelly?
Complementary goods are consumed together.
Goods that are normally consumed together like peanut butter and jelly are What kind of goods goods?
They are called complementary goods.
What Goods that are normally consumed together like peanut butter and jelly are what kind of goods?
They are called complementary goods.
When is demand when absolute price elasticity of demand equals 2.5?
Meaning that if prices change by 1%, the change in quantity would be 2.5% (at $100/piece, 1000 goods are consumed. if the price rises to $101, only 975 goods are consumed. And if the price falls to $99, 1025 goods are consumed.)
What is the term for goods that when consumed by one individual cannot be consumed by another.?
A private good (as opposed to a public good).
What is the term for goods that when consumed by one individual cannot be consumed by another?
A private good (as opposed to a public good).
Why you called fast moving customer goods as fast moving consumer goods?
It purchased frequntly and consumed faster
Why is production complete when it get to the final consumer?
because goods are produced to be consumed
What effect does a complementary goods price have on the demand of another good?
Complementary goods are consumed in conjunction with each other, this means their demand moves in the same direction. An increase in price of one good lowers it's demand, less of it is consumed and less of the complement good is also consumed. The opposite occurs when price falls, demand for both goods increases.
Difference of consumer goods and durable goods?
Consumer Goods: whatever the things used or consumed by human is called consumer goods Durable goods: The goods which can be used for more than 3 years or which cannot be destroyed by one use is called Durable goods
Define complementary goods and substitutes?
A and B are said to be complementary goods if the price of A decreases (increases) will result an increase (decrease) of the demand of B. In addition, they are goods usually consumed together.
