1. Questions

Economics

How to explain the differences in prices of "homogeneous" goods among sellers.

  1. 👍
  2. 👎
  3. 👁
Alice

  1. Think about why similar goods cost different amounts.
    -- Is there some level of service or services involved?
    -- Is location a factor? (e.g., one seller is next to a major highway or railroad)
    -- Is financing typically involved?
    -- What about legal protections? (e.g., is one sellor in a juristiction where legal contracts are enforced)?

    1. 👍
    2. 👎
    economyst

Respond to this Question

First Name

Your Response

Similar Questions

  1. History

    1. Why was the presidency of George Washington considered to be so significant? A His actions would define the role of the Supreme Court B His actions would set precedents for all future presidents C His actions would determine

  2. social studies

    2.) Why were Northern States in favor of Hamilton's protective tariff? *The tariff protected North from paying any additional fees when exporting their goods. *The tariff allowed manufactures in the North to charge higher prices

  3. Economics

    Buyers will opt out of markets in which: A. there are significant negative externalities. B. standardized products are being produced. C. there is inadequate information about sellers and their products. D. there are only foreign

  4. social studies

    How do nearby businesses with similar products usually compete? a. offering deals and low prices** b. changing to different product types c. lowering the level of service to save costs d. establishing a minimum price for everyone

  1. Social studies

    1. Why do businesses seek an equilibrium price? A. It ensures that competitors cannot offer lower prices B. It attracts the largest possible number of consumers to the business •• C. It provides the highest possible prices

  2. History on Middle Ages(PLEASE HELP NOW)

    I am back AGAIN. 1. Guilds did all of the following except a. vote on religious issues that affected trade. b. set prices and prevented outsiders from selling goods in town. c. set standards for the quality of their goods. d. pay

  3. SS

    What is the main purpose of a market? a. to allow people to exchange goods and services b. to set prices for goods and services c. to help producers get human resources d.to increase competition between buyers and sellers A A

  4. Social Studies

    1. Why do businesses seek a equilibrium price? A)It ensures that competitors cannot offer lower prices B)It attracts the largest possible number of consumers to the business C)It provides the highest possible prices that consumers

  1. Social studies

    Why do businesses seek an equilibrium price? A:it ensures that competitors cannot offer lower prices B:it attracts the largest possible number of consumers to the business C:it provides the highest possible prices that consumers

  2. social studies

    When do the laws of supply and demand have less effect on prices? a) when a good or service is new b)when outside factors cause changes (my choice) c) when buyers dislike the prices that sellers change d) when sellers want to make

  3. Social Studies

    Why was inflation a problem after World War II? A)Many people went into debt buying on credit without the income to pay in cash. B)Many men came home from the war without being able to get a job. C)Government controls ended,and

  4. social studies

    drag and drop the reasons for widespread discontent around the world in the early 1900s. Which of the following were reasons for the Great Depression? Select the three correct answers. A. shortage of workers B. scarcity of goods

You can view more similar questions or ask a new question.