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Answer:
The branch of knowledge concerned with the production, consumption, and transfer of wealth.
Explanation:
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. The building blocks of economics are the studies of labor and trade.
Answer:
A consumer co-operative
Explanation:
A consumer co-operative is a type of retail business owned by an association of consumers. The consumers who form the venture manage it and share in its profits. The main objective of starting a consumer co-operative is to eliminate intermediaries.
A consumer co-operative has the benefit of economies of scale as it purchases in bulk. It can afford to offer its members more competitive prices. Members of the co-operative share profits in the ratio of capital contribution. Their liability is limited to share contribution. Membership is voluntary, and they usually transact on a cash basis.
Good evening, Benedettoanna24!
The point where P1 and Q1 intersects represent the equilibrium (Q) price, a price that represents the same amount of supply and demand in the market of that product.
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