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How do egyptians transport their goods?
The Ancient Egyptians transported their goods by boat. They had the good fortune of having a river flowing north, to the Mediterranean Sea and its trade partners.
Substitution between domestic and foreign goods?
Substitution between domestic and foreign goods occurs when consumers choose to replace one product with another based on factors like price, quality, or availability. For instance, if the price of a foreign good decreases, consumers might opt for that over a more expensive domestic alternative. This behavior can affect domestic industries, as increased competition from foreign goods may lead to a shift in demand and potentially impact local production. Ultimately, substitution plays a crucial role in shaping market dynamics and consumer preferences in an interconnected global economy.
Prior to the protective tariff why did many Americans prefer to purchase British goods instead of American goods?
Prior to the protective tariff, many Americans preferred British goods due to their established reputation for quality and craftsmanship. British manufacturers had a head start in industrialization, resulting in a wider variety of products at lower prices compared to American goods. Additionally, the allure of imported goods was often associated with status and sophistication, leading consumers to favor British items over domestic alternatives. This preference posed challenges for American manufacturers who struggled to compete without government support.
Money has three functions which is the weakest function of money?
There are four functions of money, # Medium of exchange: value for the use of factors of production, make transaction process easier. # Standard Unit of Account: Money is used as a numeric to determine the value of goods and services, i.e. cloth/meter, sugar/kg, oil/liter is not unique but the value of the goods and services can be express in units of dollars. # Store of value: value refers to the power that's able to satisfy the consumers by buying goods and services. Value can increase or decrease if interest rate is higher or lower than inflation. # Standard of deferred payment: Transaction can be take place over a period of time, it is necessary for a standard unit to pay such deferred payment. Ø Installment Ø On Credit Ø Down payment I am editing this part, because he did not answer your question, but the weakest is the third because it changes so often and erratically. Also most economics courses only cover the first three, since the fourth is merely a form of the first.
Historical development of money?
Over the centuries many different objects e.g. feathers, shells and precious metals have been used as currency in exchange for goods and services. There was a time when goods were exchanged for other desirable goods and this was called barter trade. Problems were encountered with this form of trade, as a farmer could not find one supplier of all goods and services he desired in exchange for his cow. When the barter trade collapsed it gave way to the use of precious metals as a form of exchange.Then this form of payment also experienced problems because the value of the gold compared to the goods and services had to be established. During this period only goldsmiths had safes.So the people in town would deposit their precious metals and valuables with them for safekeeping.For every deposit, a receipt would be issued. The receipts were promissory notes payable on demand and became a convenient means of payment. This was the origin of bank notes. The bank notes obtained their value for the gold they presented in the deposits.The Promissory notes were used as a form of payment.
Over 80 of the goods and services purchased by US consumers each are made in?
the united states
Over 80 percent of the goods and services purchased by us consumers each year are made in?
the united states
What refers to a measure of the average change over time in the prices paid by urban consumers for a market basket of goods and services?
Consumer Price Index (A+)
In a country where the government has some control over the economy and buisnesses also provice goods and services that consumers want how do you describe their economic system?
self sustained
Why is there such a wide variety of desired goods and services?
people have unlimited needs and wants, economics change over time, products are improved to satisfy consumers needs and wants because of the diversity of goods wanted this is why such a wide variety of goods is in the market.
How do producer and consumer depend on each other?
Producers rely on consumers to purchase their goods or services in order to generate revenue and sustain their business. Conversely, consumers depend on producers to provide them with the products or services they need or desire. This interdependence forms the foundation of a healthy economy.
Companies that sell goods to consumers over the Internet are engaging in?
iou transaction
How does the CPA help calculate inflation rate of a country?
We mean cpi and it helps calculate the inflation rate of the country by tracking the changes over time in the prices paid by consumers for a basket of goods and services
What market situations in an industry results in the lowest prices for consumers?
Over supply of the goods in question
What market situation in an industry result in the lowest prices for consumers?
Over supply of the goods in question
How can one determine the inflation rate?
To determine the inflation rate, one can calculate the percentage change in the Consumer Price Index (CPI) over a specific period of time. The CPI measures the average change in prices of goods and services commonly purchased by consumers. By comparing the current CPI to the CPI from a previous period, one can calculate the inflation rate.
History of marketing in the Philippines?
The history of marketing in the Philippines dates back to the olden days when trade started. The marketing trends have changed over the years but the concept remains the same; to persuade consumers to buy goods or services.
