What Are the Two Dimensions Used to Classify Business Goods

question 79

Essay

What are the two dimensions used to classify business goods into three broad areas? What are these three broad areas?

---

Definitions:

Canadian Dollar Appreciates

An increase in the value of the Canadian dollar relative to another currency.

Foreign Currency

Currency used in a country other than one's own, involved in international trade and investment.

Deficit Trade Balance

A situation where a country's imports exceed its exports, resulting in a negative trade balance.

Free Market

An economic system where prices for goods and services are determined by the open market and by consumers, with minimal government intervention.