The available quantity of a product is the amount of that product available, or currently available in the store. Generally, the available quantity is equal to the on-hand quantity minus any quantities set aside for open orders. The available quantity is the quantity of an item that is currently available for sale.
What do we call a payment to the government on the production or sale of a good or service?
Excise Tax. a payment to the government on the production or sale of a good.
What is the amount of goods and services a producer is willing and able to offer at various prices during a given time period?
1. Economists define supply as the quantity of a good or service that producers are willing and able to offer for sale at each possible price during a given time period.
What is the amount of income that consumers have available to spend on goods and services called?
ECONOMICS UNIT 2 REVIEW
| A | B |
|---|---|
| an example of government influence on supply? | subsidies |
| The amount consumers have available to spend on goods and services | Purchasing Power |
| The tendency of consumers to replace a relatively more expensive product with a similar, lower-priced product is called | substitution effect |
What is a table showing how much a producer will supply at all possible prices called?
Market supply curve. the supply curve that shows the quantities offered at various prices by all firms that offer the product for sale in a given market. Supply Schedule. is a listing of various quantities of a particular product supplied at all possible prices in the market.
Is food a good or service?
A doctor consultation is an example of a service. Some goods are consumed, which means that they are gone, ineffective or unusable after they have been used once. Food is one example of a good that is consumed and must be replaced.
What are the risks of payment in international trade transactions?
Here are some of the main risks commonly faced by any global business involved in international trading and the most-sorted ways to deal with them:
- Credit Risk –
- Foreign Exchange Risk –
- Shipping Risks.
- Intellectual Property Risk –
- Country And Political Risks –
