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What was true about both credit and layaway plans?
They made it easier for consumers to spend money - Apex
When do banks create money?
by making loans and other products for consumers
What term refers to the amount of money loaned to consumers and businesses?
credit
What was true about credit and layaway plans?
They made it easier for consumers to spend money - Apex
Banks pay their costumers interest on the money in their accounts for what reason?
Banks pay their consumers interest on their money in their accounts because, the same money is what the bank use to lend loans to other customers. As they are going to earn an income through the interest they charge the loan customers, banks give a portion of that interest as interest for the customers who have deposited their money with them.
How is aeropostale clothes related to math?
consumers purchase clothing, we use money to purchase items
Was it true about both credit and layaway plans?
They made it easier for consumers to spend money - Apex
When you use paper money to pay for food the money is a?
When you use paper currency to pay for food items, the money is considered a medium of exchange which is an accepted form of exchange for goods and services offered to consumers.
When you use paper money to pay for food the money is a .?
When you use paper currency to pay for food items, the money is considered a medium of exchange which is an accepted form of exchange for goods and services offered to consumers.
What are the similarities and differences between how both producers and consumer use money?
Producers and consumers both use money as a medium of exchange to facilitate transactions, enabling the buying and selling of goods and services. However, producers typically focus on using money to invest in resources, pay for labor, and expand their businesses, while consumers use money primarily to purchase goods and services for personal consumption. Their motivations differ, with producers aiming for profit and growth, while consumers prioritize value, satisfaction, and utility. Overall, both roles are essential in driving economic activity but approach money from distinct perspectives.
What was true about both credit and layaway plans?
They made it easier for consumers to spend money - Apex
When consumers get more money they tend to substitute normal goods for goods?
inferior
How is the similarities and differences between how both producers and consumer use money.?
Producers and consumers both use money as a medium of exchange, but their purposes differ. Producers use money to acquire resources, pay for labor, and invest in technology to create goods or services, focusing on maximizing profits. In contrast, consumers use money to purchase goods and services to satisfy their needs and desires, aiming for utility and value in their consumption. While both groups navigate the market with financial transactions, their motivations and outcomes are distinct.
When consumers get more money they tend to substitute what kind of goods for normal goods?
Consumers with more money are more likely to purchase luxury goods.
Who is consumers Explain?
Consumers are the Creatures that use up products.
What category of support consumers the most money?
housing
When consumers get more money they tend to substitute normal goods for what goods?
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
