The answer is: Market
In the market model, each indviduals have the chance to predict the type of product that the majority of people need / desire. (which they commonly called as 'market demand').
After knowing the market demand, individuals who want to obtain an economic profit need to develop the products in order to answer the market demand. (products that given to the consumers by the sellers is what usually called as market supply)
Ranges are 6-mile increments measured (and described) from the north-south meridian running "East and West."
<h3>What are meridian?</h3>
meridian, imaginary north–south line on the Earth’s surface that connects both geographic poles; it is used to indicate longitude. The 40th meridian, for example, has a longitude of 40° E or 40° W. See latitude and longitude.
<h3>What is Greenwich meridian?</h3>
The Greenwich meridian, also known as the prime meridian, is an imaginary line that was last established in 1851 and was employed to suggest 0° longitude.
Some key feature regarding the north-south Greenwich meridian are-
- It runs through Greenwich, a London borough, and ends at the North and South poles.
- It was known as the prime meridian since it indicated 0° longitude. It was the globally renowned prime meridian from 1884 to 1984, when it was replaced by International Reference Meridian (IRM), which differed only slightly from it.
- A longitudinal line, or meridian, is any imaginary line connecting the North and South poles that is employed to locate a position on the Earth's surface in an east-west direction.
To know more about Greenwich meridian/prime meridian, here
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Answer:
local governments.
Explanation:
These forms of government are closest to the everyday lives of people and have a great effect on their daily activities.
Answer:
False.
Explanation:
In the context of economics, a marketplace or a market is a place where people used to gather to sell and purchase goods or services of their needs. There are different terms used to refer to the marketplace such as Bazaar in Persian, Souk in Arabic etc. there are different kinds of the market such as Permanent markets, regular markets and weekly markets. However, the main activities that take place in a market are the selling and buying of various products and services.
Therefore, the given statement is False.
