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how does volume of goods and services affect the value of money
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[QUOTE="King bell, post: 267392, member: 75687"] The volume of goods and services affects the value of money because if there is a high volume of goods and services, then the cost to make each good or service will also be high. This makes goods and services pricey for consumers. The cost of living is higher with more goods and service available, so it takes more money to purchase those same items. Therefore, the volume of goods and services affect the value or worth of money in society because when there are large volumes available for purchase, then it becomes expensive to buy each individual good or service. As demand goes down due to a lack in need for products, prices go down as well since there is less demand on companies who produce these items. This makes the value of money go up in comparison to the amount of goods and services that are being sold. The lack of goods and services is called an economic crisis, which is created by a high volume of goods and services. The value or worth of money will also go down. This means that it will become more hard to buy things as prices go up, which in turn means that more people will start borrowing money because they have to pay back more money than their used income from previous months. If a person needs 50 dollars but only has 40 dollars to use, then they can only afford so much which creates a lack in wants for products that take money for the purchase. [/QUOTE]
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how does volume of goods and services affect the value of money
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