The transportation, used day to day, of goods, whether food goods, or materialistic goods, are important because we need to eat, and we need materials for homes to have decent shelter. Televisions and computers are both important forms of communication. We need communication to offer trade agreements between countries, and to keep communication with our nation... displayed 300 characters
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We need communication to offer trade agreements between countries, and to keep communication with our nation.
So what would it be like without communications, transportation, or sports?
Hopefully or nation is not one to find out, especially in a word of today, where it seems almost a necessity to have things of this manner... displayed next 300 characters
The theory of the mercantile system is to keep the home country strong and the colonies dependent upon their home country. Under the mercantile system, the colony provides raw materials for the home country and the home country provides manufactured goods for the colony...
The automobile has enabled people to travel and transport goods farther and faster, and has opened wider market areas for business and commerce. The auto industry has also reduced the overall cost of transportation by using methods such as mass production (making several products at once, rather than one at a time), mass marketing (selling products nationally rather than locally), and globalization of production (assembling products with parts made worldwide)...
On the other hand, some people use the case of luxury goods, which in my eyes it's invalid, to refute the law. They suggested that the higher the prices, the higher the quantity demanded of luxury goods, because the buyers want to show their wealth off by buying higher prices luxury goods...
External goods are a means to bodily goods, and both these goods are required for goods of the soul. Without food we become physically ill. A sick or dying person is not interested in studying or going out with friends...
1) Public Goods
The market usually does not function very well when it comes to public goods as the public goods have no price in them. Price can be assigned when there are property rights attached to the goods...
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