What is difference between goods and services?

Q: What do you mean by an inferior goods give some examples?

A: According to the given question A good is basically said to be a inferior in a generally related…

Q: What examples do you have of goods and services that were once luxuries, which have become…

A: Luxury goods are those whose demand increases as people's income increases.

Q: e price is

A: Price floor depicts the situation where price is set above the equilibrium level price. Price…

Q: whats the differences between basic, producers’ and purchasers’ prices?

A: Basic price :- This is the amount producer receive from the sale of product, which includes…

Q: What is the relationship between MR and Price?

A: Microeconomics refers to the branch of economics that deals individually instead of aggregates a…

Q: What is the market price (market value) of the product?

A: Market price occurs at the point where the market demand and market supply curve intersect each…

Q: How the demand factors is impacting the consumer market. Illustrate and give 3 examples of each…

A: The demand for a decent depends on several factors, like price of the nice, perceived quality,…

Q: unit. At what price will he demands 45 kg of a commodity?

A:

Q: What is Supplies?

A: Supplier: A provider is an element that provisions products and enterprises to another association.…

Q: What are user's benefits?

A: A benefit is an advantage gained by an individual from an economic transaction. It is often…

Q: Goods that can be used to replace one another are called What?

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Difference between Tu and Mu?

A: Utility gets used to measure the satisfaction level or benefit obtained from consuming a good or…

Q: Price works as a ration device in outdoor recreation method”, explain with help of diagram?

A: Price as rationing device Price is used by government as rationing device. Whenever there is…

Q: Think back to a purchase that you made recently. How  would you describe your thinking before you…

A: Individual’s should make decisions based on rational calculations to achieve the potential outcome.

Q: Draw a supply and demand curve for your favorite product. You get a massive raise at work, what…

A: Demand curve is a curve showing the quantity demanded by the consumer willing to buy at…

Q: Is buying a steak at the restaurant considered a good or service?

A: Answer: Introduction: Goods: goods are those things that have a physical presence. In other words,…

Q: what is the main problem in demand and supply

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: Which is NOT the stage that customers go through in the process of adopting a new product?

A: The 5 stages are: product awareness, product interest, product evaluation, product trial, and…

Q: What are the impacts of throwaway lifestyle to the environment and to the poor?

A: The economics as a study is based upon the idea that the resources which are present with the…

Q: What are good market?

A: Goods market: Goods market is a marketplace where producers and consumers interact with each other…

Q: Types of consumer goods

A: Consumer good is a final good purchased by a consumer.   Generally, there are 3 type of consumer…

Q: Do you think that you could consume less by refusingto buy some of the things you regularly buy? If…

A: Consumption refers to the process by which people spend their income on the purchase of goods and…

Q: The question asked for percentage and not price. Can you explain how to get to the percentage?

A: The demand function gives a functional relationship between prices and quantity demanded. It is…

Q: Serious natural disasters like hurricanes and tornadoes cause widespread and extensive damage to…

A: When natural disasters like hurricanes and tornadoes cause widespread and extensive damage to…

Q: What refers to the amount of the satisfaction derived from the consumption of the commodity Help•••

A: It is the UTILITY which refers to the amount of the satisfaction derived from the consumption of the…

Q: Goods that satisfy humans wants though their direct use or consumption are called _______?

A: According to the given question In simple words the consumption in economics is basically known as…

Q: What are goods and services

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: What is supplied

A: Demand is the quantity of an item or service that consumers buy at various prices during a specific…

Q: which technology change affect consumer taste

A: The Law of Demand states that as price rises, demand declines keeping tastes and preferences…

Q: How do you determine a budget for personal consumption?

A: A monthly budget is a structured financial planning tool that assists you in determining how much…

Q: difference between goods and services?

A: Economics refer to the study of allocation of scarce resources in the most optimal way, when the…

Q: Do consumers always make rational consumer decisions when buying economic goods?

A: Rational action applies to a choice - formation mechanism focused on the making of decisions that…

Q: Price is 500 Quantity is 4 Find TR

A: It has been provided that  Price is 500 Quantity is 4

Q: What is good and services

A: Economics is the study of individual behavior and concern with how they earn their living in the…

Q: What is beautiful?

A: Beautiful is a term related to the attractiveness of a place or person.

Q: d) There is an increase in income e) taste increase for the good

A: Answer to the question is as follows :

Q: What is the likely demand for the product?

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: Adjust each graph to show the indicated change. In each graph, click on the line or its midpoint to…

A: As per the law of demand, price has an inverse relationship with quantity demanded.

Q: What examples do you have of goods or services that are both consumer goods and resources depending…

A: A good can be consumer goods or intermediate goods ( ie the goods which are used as inputs for other…

Q: a. an increase in the price of the good.

A: The supply curve shows the movement that occurred due to the increase in price. More quantity will…

Q: Write a few sentences from the point of view of a first-time buyer when home appliances became…

A: The following problem has been solved as follows:

Q: Roberta Y Clothing C. Anta X Food

A: In the commodity as well as factor market, the Edgeworth box is used to find out the contract curve.