0
What else can I help you with?
How can one determine deadweight loss in a market?
Deadweight loss in a market can be determined by comparing the quantity of goods or services that are actually traded to the quantity that would be traded in a perfectly competitive market. This difference represents the loss of economic efficiency due to market distortions such as taxes, subsidies, or monopolies. The deadweight loss is the area of the triangle between the supply and demand curves, up to the point where they intersect in a perfectly competitive market.
Difference between normal goods and inferior goods?
Normal goods are everyday things that the average person would own. Inferior things are more of a low quality item that is considered for poor people.
Why did the New England colonists' prosperity threaten England's mercantilism goals?
New England had many products/goods that England didn't have. If they traded with other places, they would become richer because they would sell them for a cheaper price than England.
Why is the distinction between intermediate and final goods important for measuring GDP?
The distinction between intermediate and final goods is important for measuring GDP because only the value of final goods should be included in GDP. Including the value of intermediate goods would result in double counting, as their value is already accounted for in the final goods they are used to produce. By focusing on final goods, GDP accurately reflects the total value of goods and services produced in an economy.
What would happen if public goods were marketed like private goods?
public goods would be overproduced
What goods would have been traded between Byblos and Punt?
Byblos, an ancient Phoenician city, and Punt, a legendary land known for its wealth, primarily traded luxury goods. Byblos would have exported high-quality cedar wood, glassware, and textiles, while Punt was famous for its gold, ivory, myrrh, and exotic animals. This exchange facilitated not only economic prosperity but also cultural interactions between the two regions. The trade routes between them were crucial for the development of maritime commerce in the ancient world.
What were the interactions between the first nations and Henry Hudson?
they traded goods and sometimes would not be friendly with one another.
Who would be most likely to analyze a tablet with cuneiform to determine what goods were traded by the merchants of Ur?
A historian would be most likely to analyze a tablet with cuneiform to determine what goods were traded by the merchants of Ur.
What did the Cheyenne traded?
the Cheyenne Indians usually traded corn/maize for goods such as salt to season the buffalo. but once in a while they would make necklaces to trade.
Who would be most likely to analyze a tablet to cuneiform to determin what goods were traded by the merchants of Ur?
A historian would be most likely to analyze a tablet with cuneiform to determine what goods were traded by the merchants of Ur.
How did the English colonies make money?
They would sell the stuff that they would make and sell it to the locals by them
What did the Antioch people trade along the silk road?
there were many thing traded along the silk road since it was one of the major trade routes but the main thing they traded would be goods such as... gold or salt was a huge one the people mostly traded . but over all it couldve traded any goods.
Did Ferdinand Magellan trade goods with anybody?
No because he didnt make it to Spice Island because he died if he didnt die and made it back in time with the spices. The spices were what he would of traded.
How did trade promote cultural exchages between ancient civilizations?
Trade lead to cultural exchange because one piece of culture was traded for another which would be traded for another and another, etc. Also, people would travel to different cities to trade their goods which would expose one culture to another
Did increased trade contribute to the Renaissance?
Yes, the renaissance was a gathering of all sorts of new ideas throughout Europe at the time. And naturally trade between these countries would only act as a catalyst for the renaissance, because the trade of goods between so many of these different cultures also helped to share the characteristics of each culture that was attached to the goods being traded.
How far did traders have to travel to go from Memphis to Byblos to Mycenae?
Oh, dude, traders back in the day had to put in some serious mileage to go from Memphis to Byblos to Mycenae. We're talking about a journey that could take weeks or even months, depending on the mode of transportation and how many snack breaks they took along the way. Like, these ancient traders were the original road trip warriors, cruising through deserts and over mountains just to swap goods and maybe catch a cool sunset or two.
What did the osage Indians trade?
the Sioux Indians traded buffaloes for corn. they traded with their linguistic cousins the Mandan and Hidatsa
