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Services that are performed for us are considered consumed?
They are consumed goods.
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
What kind of good is consumed together like peanut butter and jelly?
Complementary goods are consumed together.
How do indifference curves for complementary goods illustrate the relationship between the quantities of two goods that are consumed together?
Indifference curves for complementary goods show that as the quantity of one good consumed increases, the quantity of the other good consumed also increases to maintain a certain level of satisfaction. This illustrates the interdependence between the quantities of two goods that 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.)
Services that are performed for us are considered consumed?
They are consumed goods.
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).
Two goods that are used together are called?
Complementary goods. These goods are typically consumed or used together, as the use of one good complements the use of the other. Examples include peanut butter and jelly, and computers and software.
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
What kind of good is consumed together like peanut butter and jelly?
Complementary goods are consumed together.
How do indifference curves for complementary goods illustrate the relationship between the quantities of two goods that are consumed together?
Indifference curves for complementary goods show that as the quantity of one good consumed increases, the quantity of the other good consumed also increases to maintain a certain level of satisfaction. This illustrates the interdependence between the quantities of two goods that 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.
What layer depleted in the 80s?
Ozone layer depleted. It is because of use of CFC's.
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 are some examples of nondurable goods and how do they differ from durable goods in terms of longevity and consumer usage?
Nondurable goods are items that are consumed or used up quickly, such as food, toiletries, and clothing. They have a short lifespan and are typically purchased frequently. In contrast, durable goods, like appliances, furniture, and electronics, are designed to last for an extended period of time and are not consumed quickly. Consumers use durable goods over a longer period before needing to replace them.
