Question

definition of products, goods and services

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Economics

Related Economics Q&A

Find answers to questions asked by students like you.

Q: Fixed Investments include new construction and new capital goods. How do I do GDP Calculation on a s...

A: GDP:GDP calulation can be shown as follows:

Q: Foreign aid: definition, pro & contra from the perspectives of recipients

A: Foreign aid:Foreign aid is a money, food or other resources that one country transfer voluntarily to...

Q: Which of these situations would give rise to the free-rider problem? ltems (6 items) (Drag and drop ...

A: Free rider prolem arises due to high consumption of a good or services.  It is condition when any pe...

Q: 1 – The equation for the change in the capital stock (per worker) is given by the following: (Kt+1/N...

A: Let us first define the Solow model and its implications that give the equation for change in capita...

Q: If the Federal Reserve conducts a $10 million open-market sale and the reserve requirement is 20%, t...

A: Monetary base:Monetary base can be calculated as follows:

Q: in International Relations, what is ‘Dominance’ in IR Theory?  Instruments of  dominance? Concept of...

A: International relations (IR) theory is an analysis of IR from a theoretical point of view where IR m...

Q: Assess the potential impact of the four (CAGE) culture, administrative, geographic, economic dimensi...

A: The CAGE framework was developed by Pankaj Ghemawat, the renowned professor of GLOBAL STRATEGY, at t...

Q: In the RBC model, assume we start from a point of long run equilibrium, then the effect of the natur...

A: The correct options are A and C.

Q: The Fed has increased the target rate of the federal funds rate nine times since December 2015.  An ...

A: The federal funds rate refers to the interest rate that one commercial bank charge other commercial ...

Q: What forces shaped the culture in the country of UAE and Dubai in particular? How similar or differe...

A: Part 1Dubai is one of the emirates of UAE following Islam as an official religion and Arabic languag...

Q: Suppose that the dynamic aggregate demand curve in Swaziland is determined by the equation M + U-6%....

A: The quantity theory of money:The quantity theory of money equation can be written as follows:

Q: 5. The graph below shows the Price, Marginal Cost, and Average Total Cost curves for the production ...

A: STEP 1It is given that,MC cut ATC from below at 6 units of Bennie Weenie Dogs where its price is $14...

Q: . Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and both states ar...

A: If Wisconsin spends 1,200 to clean the lake, then the Wisconsin receives benefit of 1,100 and Illino...

Q: Transmission and Amplification Mechanisms- Ask FRED ALFRED ty Percent of Value of Loans Secured by C...

A: a.Transmission and amplification mechanisms:From the given graph, the approximate average percent of...

Q: 2. As an employee of the Rays-R-Us Corporation (a solar panel company), you have been asked to deter...

A: a.Total cost and long run average cost for quantity 1:Total cost and long run average cost for quant...

Q: not sure hot to get to final answer

A: Part1.The Effect of valentines's day is the change in demand for roses. The demand for roses has ris...

Q: If the MPC is 0.8 and government spending decreases by $50 million, then equilibrium GDP will decrea...

A: The equilibrium GDP:The equilibrium GDP can be calculated as follows:

Q: The Federal Reserve System and Open Market Operations_ Ask FRED The accompanying graph depicts the v...

A: Mortgage Backed Securities (MBS) held by Fed before 2009 is 0. As we can see from the dynamic chart,...

Q: loui's preferences over pizza (x) and other goods (y) are given by U(X,Y)=XY^2, with associated marg...

A: The given information:

Q: Principles of Microeconomics Name: Homework #3 Prof. R. Harris DUE: Wednesday, April 17, 2019 at the...

A: Let us  first understand what the following costs mean:Total Cost (TC): Total costs are the total ou...

Q: please help

A: Marginal Product:Marginal product refers to the change in output due to the change in inputs. Altern...

Q: 9See Hint Suppose seven individuals enjoy going to the comedy club. Their demand is as follows Perso...

A: Given:Table -1 shows the seven individuals willingness to pay:

Q: GDP and the Measurement of Progress _ Ask FRED The accompanying graph depicts quarterly Real GDP in ...

A: Gross Domestic Price:It is the primary indicator which shows the health of an economy. It depicts th...

Q: How do you do number 1

A: It is given that,The above table depicts the demand and cost structures of foreign language translat...

Q: What is the difference between a feasible production plan in the short run and in the long run? Give...

A: Feasible production plan in the short run: In the short run, even though the firm is facing loss, it...

Q: If the Marginal Propensity to Consume (MPC) is .90, estimate the total (multiplied) effect of govern...

A: Multiplier:Multiplier can be calculated as follows:

Q: Imagine the government of California has proposed a new tax on vehicles based on the amount of emiss...

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,...

Q: Hi, can I please get help with the picture in the attachements its true and false. I’m not so good a...

A: The statement “Japan’s economy met its expected growth rate of 2%” is false. Reason: Even though the...

Q: Transmission and Amplification Mechanisms- Ask FRED When a borrower fails to make a scheduled paymen...

A: a.Transmission and amplification mechanisms:From the given graph, the approximate delinquency rate i...

Q: Use the table to answer the questions. In relation to taxes, Ramone will be filing as married filing...

A: Tax with marriage filling jointly can be calculated as follows.

Q: 10. Why might economists be quite concerned if the annual interest payments on the debt sharply incr...

A: If the annual interest payments on debt increased sharply, government spending on debt will increase...

Q: Comment on the Fed's current monetary policy based on Powell's testimony.

A: The monetary policy is policy which is adopted by the monetary authority (central bank of the countr...

Q: From the perspective of consumers and society overall, monopolies are worse than perfectly competiti...

A: In economics, there are majorly four forms of the market out of which the perfect competition and mo...

Q: b bMy Question X WMonop HW X Σ Σ G + f G Office Editing for Docs, Sheets & Slides chrome-extension:/...

A: Profit maximization:Profit maximization point will occur at where the marginal revenue and marginal ...

Q: If the price level doubled and someone wanted to maintain the same level of purchasing power, the no...

A:  Nominal quantity of money demanded:When the price level is doubled in the market, if someone wants ...

Q: Import-substitution and export orientation: arguments pro

A: Import substitution refers to substituting imported goods with home production.Export orientation im...

Q: Suppose the accompanying graph depicts a monopolistically competitive firm earning positive economic...

A: It is given that the following graph belongs to a monopolistically competitive market that earns a p...

Q: 1-What is the general relationship between a country's price level and the quantitiy of it's domesti...

A: 1-What is the general relationship between a country's price level and the quantitiy of it's domesti...

Q: Suppose the Fed sells $300 billion in government securities and the reserve ratio is 0.2 Calculate t...

A: Money supply is the stock of money in circulation in an economy in a given time period.Monetary base...

Q: Could you please briefly explain the purpose of present worth analysis? And how it pertains to prese...

A: The present value (PV) is defined as a current value which is related to a future sum of money and i...

Q: The accompanying graph depicts the marginal revenue (MR), demand (D), and marginal cost (MC) curves ...

A: Monopoly Market:Monopoly market is a market condition where single firm reaping largest market share...

Q: Why and when might a company wish to use a strategic alliance for international expansion?

A: A strategic alliance refers to an agreement between two companies that have decided to collaborate t...

Q: 6. Two copies of a contract were mailed to Los Angeles. One was sent Air Mail; the other First Class...

A: Given information:Probability of air mail letter arriving in 2 days is P (A) = 0.65    Probability o...

Q: What issues do the online businesses face?  How are they similar to offline competition?  How are th...

A: Before analyzing the issues related to online businesses, firstly we need to know what is an online ...

Q: Student pricing at the movie theater is a common example of third degree price discrimination. What ...

A: Third-degree price discrimination is one of the forms of price discrimination that a firm or an indu...

Q: Suppose that the United States cracks down on illegal immigrants and returns millions of workers to ...

A: Mexican labor supply and labor demand curve:

Q: please help

A: Let assume that the cost of capital is r and cost of labor (wages) is wTo obtain maximization condit...

Q: 19) when total utility, U(X) is maximized, marginal utility, MUx is  a)constant b)rising c)maximized...

A: Total utility and marginal utility:When a consumer goes on to consume the units of good continuously...

Q: The country of Freeland has an aggregate demand curve determined by the equation Freeland also has a...

A: The quantity theory of money:The quantity theory of money equation can be written as follows:

Q: Fiscal Policy- Ask FRED The accompanying graph depicts the unemployment insurance benefits paid by t...

A: Fiscal policy:From the given graph, the year spend more GDP on unemployment insurance is