The System of _____ Helps Consumers Identify and Purchase a Product

question 37

Short Answer

The system of _____ helps consumers identify and purchase a product or service because its nature and quality, indicated by its sign, meets their needs.

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Definitions:

Volume of Trade

The total amount of stocks, securities, or commodities that are bought and sold over a specific period of time.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, indicating economic benefit.

Export Sector

The segment of an economy's industry involved in producing goods or services for sale in foreign countries.