Think from a rubber tree to tires on your car. From a silk worm to your blouse. From a cow in the field to Baskin-Robbins. This should get you on the right path .
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
Cheese
Labor
People cannot be excluded from using goods while they can be excluded from using individual goods.
Public goods are non-excludable and non-rival in consumption whereas Private goods are excludable and rival in consumption.
Inventory management is a science primarily about specifying the shape and percentage of stocked goods.
The difference between intermediate goods and final goods is in their nature. Intermediate goods are finished goods which can be used to make other good like wool. The final goods are sold to consumers like a woolen coat.
the color
Difference between revenue from sales and cost of goods sold is called "Gross profit".
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
Yes
Cheese
Manufacturing takes raw materials and creates goods from them. Processing is taking existing items or materials and making them ready for further use or sale. Minerals and food are processed, not manufactured.
With distribution the receiver of goods is the end user, whereas transport means goods can be moved to shippers as well.
How do you calculate cost of goods sold for a manufacture company
Labor
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