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What is importance of microeconomics?
The importance of microeconomics is to understand the working of the free market economy. It shows how the prices of the products and the factors of production are determined. It shows how the goods and services produced are distributed among the various people for consumption through market mechanism.
What is meant by the term trade?
Trade is the transfer of ownership of goods and services from one person to another
What is meant by derived demand and how does this demand characteristic impact freight demand?
Derived demand is the demand to transport goods or services to location depend on demand to consume a goods or services to location. Freight of product is derived from the customer demand of product.
What are the four fundamental economic questions?
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?
What are public goods and private goods?
Public goods are goods meant for everyone to share. Private goods are goods meant for one person or one small group of people.
What is meant by the term provide a services?
goods
What is importance of microeconomics?
The importance of microeconomics is to understand the working of the free market economy. It shows how the prices of the products and the factors of production are determined. It shows how the goods and services produced are distributed among the various people for consumption through market mechanism.
What is meant by online shopper?
Consumers who shop online and buy or pay for goods or services
What is meant by the term trade?
Trade is the transfer of ownership of goods and services from one person to another
What is meant by saying a proposed payment?
That funds and supporting documents are available, and goods or services have been received.
What is meant by a proposed payment is proper?
That funds and supporting documents are available, and goods or services have been received.
What is meant by trading?
Trading is the exchange of goods and services from one person to another by getting something in exchange from the buyer.
What is meant by saying a proposed payment proper?
That funds and supporting documents are available, and goods or services have been received.
How do you place a value on money?
By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it. By the amount of goods or services you can buy for it.
What services are offered by FreeBay?
The services offered by Free Bay are for people who have goods or excess goods they don't need or use anymore. They have also introduced the Swop Shop page where a person can trade goods for goods, goods for services, services for goods, and services for services.
Match the role with the actions taken by players in that role.?
consumer- Purchasing goods and services producers-Providing goods and services worker-Making goods and services
What is meant by heterogeneous goods in economics?
Goods or services that pertains to the same function. They are close substitutes with distinguishable features i.e. different packaging, shape size etc, unlike Homogenous goods which are undifferenciated
