What happens in the product markets
What happens in the product markets?
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a. Households are on the buying side of these markets, purchasing goods and services.
b. Businesses proposes products for sale are on the selling side of these markets
c. Interaction of these buyers and sellers determines the price of each product.
d. Flow of consumer expenditures constitutes sales receipts for businesses.
How did producers decide on the best combinations of resources to use? Who made these resources available, and why?
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What are the determinants of demand?
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Illustrate the rate of exchange of two products?
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For rapid growth of world trade what are the factors of account since the Second World War?
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