Do you have answer choices?
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.
Professionals working in virtual teams claim that the main difficulty with virtual team meetings is the lack of time for relationship-building.
A virtual team, often referred to as a geographically dispersed team, distributed team, or remote team, is a group of people that work together remotely and rely on communication tools like email, instant messaging, and audio and video conferencing services to interact.
The phrase may also be used to describe teams or groups who collaborate asynchronously or across organizational levels. Virtual teams are described by Powell, Piccoli, and Ives (2004) as "groups of geographically, organizationally, or time dispersed workers brought together by information and telecommunication technology to complete one or more organizational tasks."
To know more about virtual team meetings
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Answer: Personality
Explanation: In simple words, personality refers to a group of attributes and qualities that builds and influences the behavior of an individual. These factors are build up on the basis of life time experiences.
In the given case, Ryan has a calm and satisfactory nature and does not believe in competition.
Hence from the above we can conclude that the correct option is B .
Nominal GDP and Real GDP are described below
Explanation:
The nominal value of a good is its value in terms of money. The real value is its value in terms of some other good, service, or bundle of goods.
Examples:
Nominal: That CD costs $18. Japan’s science and technology spending is about 3 trillion yen per year.
Real: A year of college costs about the value of a Toyota Camry. Those tickets to see Van Halen cost me three weeks’ worth of food!
2.Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output. Trends in the GDP deflator are similar to changes in the Consumer Price Index, which is a different way of measuring inflation.
3.. Therefore, nominal GDP will include all of the changes in market prices that have occurred during the current year due to inflation or deflation. ... In order to abstract from changes in the overall price level, another measure of GDP called real GDP is often used.
4.The main difference between nominal GDP and real GDP is the adjustment for inflation. Since nominal GDP is calculated using current prices it does not require any adjustments for inflation. This makes comparisons from quarter to quarter and year to year much simpler to calculate and analyze.
5.Real Gross Domestic Product or real GDP is a measure of the value of economic output like inflation or deflation of prices . Nominal GDP on the other hand is a figure which has not been adjusted for any inflation.
