Chat with AI
Economics: The Basics 1st Edition by Mike Mandel
Edition 1ISBN: 978-0071316026Economics: The Basics 1st Edition by Mike Mandel
Edition 1ISBN: 978-0071316026 Exercise 3
Suppose you have been making earrings as gifts for your family and friends.
a) Are those gifts market transactions? Why or why not?
b) Now suppose you turn your jewelry hobby into a business and start selling earrings. Are those sales market transactions?
c) Once you start selling earrings, will that change the type of earrings you make? ( Hint: Think about what customers might want.)
a) Are those gifts market transactions? Why or why not?
b) Now suppose you turn your jewelry hobby into a business and start selling earrings. Are those sales market transactions?
c) Once you start selling earrings, will that change the type of earrings you make? ( Hint: Think about what customers might want.)
Explanation
Verified
Verified
Market transaction: It refers to activit
Economics: The Basics 1st Edition by Mike Mandel
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
