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The theory of production deals with the relationship between the factors of production and the output of goods and services
The market supply curve shows the amount of goods/services produced at any given price. There is a direct relationship between output and price. That is, if the price of goods and services is high, then sellers will produce a large number of goods and services. Conversely, if the price of goods/services is low, then output will also be low.
goods are physical. services are something you do for someone.
Goods are consumer wants and needs that are produced. Services are things that people pay for once and receive something. Consumers spend money on both.
Labor
The theory of production deals with the relationship between the factors of production and the output of goods and services
The market supply curve shows the amount of goods/services produced at any given price. There is a direct relationship between output and price. That is, if the price of goods and services is high, then sellers will produce a large number of goods and services. Conversely, if the price of goods/services is low, then output will also be low.
goods are physical. services are something you do for someone.
Goods are consumer wants and needs that are produced. Services are things that people pay for once and receive something. Consumers spend money on both.
The exchange of goods and services between countries is called international trade.
Labor
Manufacturing produces goods. Services provide services.
Marketing services are services that are offered to market products. Tangible goods are actual, physical goods that are sold by businesses.
you buy goods and services you buy from a marketer ?
trade is the exchange of goods or services business is a transaction where goods and services are exchanged so they are the same
goods are tangible and transferable , services are not
gooods are tangible while services are not