The Value of Final Goods and Services Equals

question 47

Multiple Choice

The value of final goods and services equals:

• A)total business profits.
• B)the sum of the value added by all firms.
• C)total business spending.
• D)the sum of revenues from all sales.

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Definitions:

Price Decrease

A reduction in the monetary value or cost of goods and services.

Demand

A relation between the price of a good and the quantity that consumers are willing and able to buy per period, other things constant.

Willing and Able

The readiness and capability of individuals or groups to engage in a particular activity.

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or production.