Chapter 11 - Resource Markets
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Last updated 10:52 PM on 4/12/22
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5 Terms
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voluntary trade
Any disparities between businesses 'profit- maximizing aims and families 'utility- maximizing goals are resolved via ________ in markets.
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hazardous materials
People should be paid more for tasks that are nasty, dangerous, dull, tiring, unlawful, low status, have no future, no benefits, and involve ________, hours than for occupations that are clean, safe, fascinating, stimulating, lawful, and high- paying.
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remuneration
The ________ is determined by the demand for goods transportation.
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intermediate goods
The demand and supply for ________ and services are similar to the demand and supply for final goods and services.
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Derived demand
demand that arises from the demand for the product the resource produces
Flashcards (33)