A product in business can be sold to people to meet their wants or needs. Products are often called “merchandise” by retailers, but for producers, they are just “raw materials” that will be used to make finished goods in the future. Items and services can both be thought of as types of goods. Any extra thing that comes from making something useful but is not the primary goal is called a sub-product.
Alan Greenspan: Brief Bio, Policies, and Legacy
6 min read
Alan Greenspan: Brief Bio, Policies, and Legacy American economist Alan Greenspan presided over the Federal Reserve’s Board of Governors from 1987 to 2006, serving as the country’s central bank. He also held the position of chair of the Federal Open Market group (FOMC), the Fed’s main group for formulating monetary policy and controlling the nation’s... Read more
