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Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the?
product market
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the .?
product market
What do you call in economic terms buying and selling of goods?
Demand and Supply. Demand= buying goods and services. Supply=selling goods and services.
Households pay firms for goods and services Firms supply households with goods and services the purchase and supply of goods and services takes place in the?
It's Product Market.
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
What do you call the amount of goods or services available to us?
The amount of available goods or services is called supply.
What are the components of Aggregate Supply?
aggregate supply is the total number of good and services produced in a country. The components are GOODS and SERVICES
What is the amount of a goods or services that an producer is offers for sale?
supply
The market supply curve is?
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.
Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the economy.
What is the meaning of supply?
of Supply
What is The amount of goods and services available for sale called?
justified in terms of profitability.
