Answer:
(D) private goods.
Explanation:
Goods is a material that, in economic theory, satisfies people's wishes and provides usefulness. Goods and services are different. In economic theory all goods are considered material, but in reality such goods as information (or information) are non-material goods. For example, although Apple is a tangible asset among other commodities, news is related to non-material class goods and can only be perceived through tools such as Computer and Printing. Material goods such as apples differ from non-material goods as information in terms of the impossibility of a person to keep the other physically, while the former occupies a certain physical area. Intangible goods differ from services in the sense that they are transferable or sold. Price elasticity also differentiates the types of goods. Elastic goods are commodities where there are major changes in quantities due to small changes in the price and, therefore, relate to the family of substitute goods; For example, consumers will prefer to buy pencils, such as pencil shields. Intangible goods are few and no substitutes, such as racing tickets, artist's original work, and medical supplies such as insulin. Complementary goods are more elastic than substitutes. It depends on which commodity is substituting or complementary to other goods.
Private goods are both excludable and rival in consumption. Most goods in the economy are private goods. A private commodity or goods is a product to be purchased for consumption and prevents the consumption of another by one person. In other words, when there is competition between people for the sake of good, good is something special or private, and consuming good prevents one from consuming it.
Answer:
Market introduction
Explanation:
One of the stages of a product life cycle is introduction. Infact, it is the very first stage of a product life cycle.
Market introduction from the name can be said to be the stage of a product that involves quite a lot of advertising. The advertising is aimed at informing the populace about the availability of the product and the usefulness of such product.
Simply put, product introduction is giving awareness about the availability of a new product and its benefits.
Cheers.
C: Personal loans offer lump sums of money, while credit cards set a maximum amount a person can borrow.
Explanation:
Answer:
Tim can easily determine that the price of the computer is more than the price of the vacation = Unit of Account
Tim has $1,537 in his checking account = Store of value
Tim writes a check for $1,299 = Medium of Exchange
