Which of the following correctly describes a final good?
i. A final good is bought by its final consumer.
ii. A final good can be used by a firm as a component of another good or service.
iii. Investment goods cannot be a final good.
A) ii and iii B) i and iii C) i and ii D) i, ii and iii E) i only
E
Economics
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A normal good is a good for which demand increases as:
a. the income of consumers increases. b. its own price increases. c. the price of close substitutes decreases. d. the total number of consumers increases. e. a reflection of changing consumer tastes.
Economics
If you go to Europe to work and send funds home to your family living in the United States, this is known as a
A) service import. B) merchandise import. C) service export. D) unilateral transfer.
Economics