A very simple but confusing puzzle. A lady buys goods worth rs.200 from a shop. (shopkeeper selling the goods with zero profit).
The lady gives him 1000 rs note. The shopkeeper gets the change from the next shop and keeps 200 for himself and returns rs.800 to d lady. Later the shopkeeper of the next shop comes with the 1000rs note saying "duplicate" and takes his money back. "How much LOSS did the shopkeeper face
Manufacturers offer discounts usually to large quantity or bulk buyers. this encourages buyers to buy more because the businesses give them an opportunity to save more money. usually, it is the retailers who would buy from manufacturers in bulk orders
When a local regulator calculates the average cost of production for the public water utility or any other service and allow an adjustment for the normal rate of profit the firm should expect to earn, and then set the price that consumers can be charged accordingly, this is known as cost-plus regulation.
Self-interest of course! Though you gave us no clue as to who is Adam... You can tell it's mostly self-interest due to the fact that he hasn't taken any class or anything on it. Looks to me that he genuinely just loves cooking!
A command Economy stresses the equality of all citizens.e. g Cuba and North Korea
A closed economy aims to be self sufficient with all activities confined to its economy.e.g Brazil's economy.
A traditional economy being the oldest form of economy upholds culture and history and as such relies more on bartering than money. It is mostly common in emerging markets and developing countries.
A mixed economy encourages private businesses with a degree of state monopoly.Example is the USA's economy.
