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In the contract of sale of goods, the goods supplied must be reasonably fit for the purpose for which the buyer wants them. Discuss.
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- Cost of a commodity together with ________ determines price of the commodity:Contrast similarities and differences between the two classification for goods and servicesRalph usually buys one Pizza and 2 colas from the local pizzeria. The pizzeria announces a special: all pizzas after the first one are half priced. Show the original and the new budget lines
- _______________ refers to the willingness and ability of buyers to purchase different quantities of a good at different prices during a specific time period whereas __________________ refers to a specific number of units buyers want to buy at a specific price.These goods that are consumed in lieu of a particular product. * substitute goods consumable goods complementary goods consumer goodsA voluntary exchange between Mike (the purchaser) and Wayne (the seller) occurs because Mike stands to gain and Wayne to lose they had no choice Mike stands to lose and Wayne to gain they both gain from the transaction
- Please see the question belowA grocery store sells a bag of potatoes at a fixed price of $2.30. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? marginal revenue gross earnings pure profit marginal costs net benefitAttached is an example
- do explain shortly.ally's airfryersWhat is the difference between a goods contract (e.g., retail) from a forward contract? a.The parties pay money at the start for a forward contract but not under a goods contract. b.Under a forward contract neither party pays any money at the start of the contract, but not under a goods contract. c.Under a goods contract neither party pays any money at the start of the contract, but not under a forward contract. d.Under a forward contract and goods contract, neither party pays any money at the start of the contract.