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Is a haircut an example of a final good or service?

Yes


What is an example of a collective good or service?

Food


What is an example of a ritual?

A religious service (of any religion) is a good example of a ritual.


What is a example of a ritual?

A religious service (of any religion) is a good example of a ritual.


Difference between expenditure on final goods and expenditure on intermediate goods?

The difference between intermediate goods and final goods is in their nature. Intermediate goods are finished goods which can be used to make other good like wool. The final goods are sold to consumers like a woolen coat.


What is a goods market and a factor market?

Markets used to exchange final good or service.


Which of the following is a good example of a good with elastic supply in the short run?

Passenger Airplanes


What are some examples of superior goods?

A superior good is a good/service that you are more likely to purchase as your expendable income increases. Example: A New Car An inferior good is a good/service that you may purchase in substitute of a superior good when your expendable income is limited. Example: A Used Car


Which of the following is shown by the intersection of the supply curve and the demand curve?

the equilibrium price of a good or service


Is a self- serve gas station an example of a good or a service or both?

Goodgoodgoodsgood


What is a good example of customer service in Mcdonalds?

giving you extra napkins and straws.


What are the four classes of consumer goods?

service is classify in the following way, 1. market segment 2. according to degree of tangibility a) tangible good service ex. food service b) intangible service ex. coaching c) rental good service ex. hotel, vehicle d) own good service ex. laundry, clinic e) non good service ex. personal experiences