Production is the creation of goods and services. It is used to help deliver what consumers need and want through consumption.
A barter system, where people trade their goods and services for other goods or services as opposed to trading goods and services for money.
what is a lack of goods and services called
Efficiency
This is the barter system.
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'.
A barter system, where people trade their goods and services for other goods or services as opposed to trading goods and services for money.
what is a lack of goods and services called
Efficiency
A business that produces goods or services is called an industry.
This is the barter system.
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'.
It's called TRADE BY BARTER.
The three economic resources used for making, selling, and using goods and services are land, labor, and capital. Entrepreneurship is also a factor in making, selling, and using goods and services.
Capital Goods.
The hiring of labor power only results in the production of goods or services.
* Exchange * Exchange * Exchange * Exchange * Exchange
The exchange of goods and services within a single country is called domestic trade.