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What is the economic term for the money that is received from the sale of goods and services?
Wiki User
∙ 9y ago
Revenue is the economic term for the money that is received from the sale of goods and services.
Wiki User
∙ 9y ago
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What is the exchange of goods and services without the use of money?
That is the economic practice of "bartering". Trading goods or services you have for the goods or services someone else has.
When market governments decide how to distribute wealth money goods and services what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
What is it called when you have money to buy goods or services?
If you have money to buy goods and services you are said to be 'solvent'. When you have no money to by goods and services you are said to be 'insolvent'.
What were the Economic benefits of the triangle trade?
The shippers, buyers, and sellers all made money on the goods and slaves they sold and received.
The circular flow of economic activity is characterized by?
How people produce (make money) and consume (spend money).
What is the exchange of goods and services without the use of money?
That is the economic practice of "bartering". Trading goods or services you have for the goods or services someone else has.
When market governments decide how to distribute wealth money goods and services what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
What are the 2 basic natural resources that economic systems allocate?
Money, goods & services
What is it called when you have money to buy goods or services?
If you have money to buy goods and services you are said to be 'solvent'. When you have no money to by goods and services you are said to be 'insolvent'.
What were the Economic benefits of the triangle trade?
The shippers, buyers, and sellers all made money on the goods and slaves they sold and 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 are deferred items?
Deferred items are those where money has either been paid out in advance of goods being received/work being done, or where money has been received in advance goods being sold/work being done. If the money has been paid out before receiving the goods or services, this is known as a deferral of expense. If the money has been received before it is earned, this is known as a deferral of revenue.
The circular flow of economic activity is characterized by?
How people produce (make money) and consume (spend money).
Should economic growth be sacrificed if necessary in order to reduce poverty?
No. Economic growth is the best way to reduce poverty. Economic growth creates jobs. Economic growth should not be sacrificed, it should merely be more inclusive. More people should experience the benefits of it. Economic growth is a good thing. When economic growth slows or stops, people start worrying about themselves and stop worrying about others. When economic growth is good and people have jobs and money, they are more interested in helping others. When corporations make money, they expand and hire more people. Then those people have money to purchase goods and services. The companies who sell those goods and services hire people to produce those goods and provide those services.
In the circular flow of goods and services what does the government use money payment to provide?
Goods and services
What is an economic system that does not use money for trade?
Here are two: In the "barter system, one trades goods or services for goods or services in lieu of money exchanges. Another non-monetary system is a Resource Based Economy. Originated by Jacque Fresco, it is a whole factor socio-economic system in which all goods and services are available without the use of money, credits, barter or any other system of debt or servitude. All resources become the common heritage of all of the inhabitants, not just a select few.
Self-interest helps achieve society's economic goals because of what?
Self interest helps achieve society's economic goals because people have a desire to purchase services and goods. In order to do this they must generate an income, meaning they have to work. This money is then funneled back into the economy when they purchase these goods and services.
