The Correct Order in the Good-Services Continuum Is

question 58

Multiple Choice

The correct order in the good-services continuum is

• A) pure services - core Services - core goods - pure goods.
• B) pure goods - pure services - core services - core goods.
• C) pure goods - pure services - core goods - core services.
• D) pure goods - core goods - core services - pure services.
• E) core goods - core services - pure goods - pure services.

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Definitions:

Money Supply

The sum of all funds available in an economy, including cash, coins, and checking and savings account balances, at a particular point in time.

Foreign Exports

Products or services that are manufactured in one nation and purchased by consumers in a different country.

Say's Law

Say's Law, also known as the law of markets, is an economic principle which suggests that production creates its own demand, positing that a supply of goods will ultimately lead to the creation of an equivalent demand.

Demand Prices

Prices of goods and services determined by the demand for them, often influenced by consumers' willingness and ability to pay.