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Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
Define the using influences of contract staff for IS project. Use of contract staff: Such are frequently an unknown quantity. It is reasonable to assume that people who
What are economic sectors? For the functions of analysis the production of goods and services can be classified in four groupings as given below: a. Primary sector b. Se
what are the factors that affect the volume of production in economy
1. (classical monopoly pricing) A monopolist faces a demand curve q (p) = 100 p: (a) If its cost function is C (q) = 2q; what is the optimal level of price and quantity? (b
what are the resources of economics development
What are institutions? Institutions are formal organisations as like: • Government : the group of some people and institutions who control and manage a country Civic socie
Expansionary fiscal policy happens when the government cuts spending. How?
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