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Q. Explain about Gross Domestic Product?
Gross Domestic Product:Value of all the services and goods produced for money in an economy, evaluated at their market prices. Excludes the value of unpaid work (like caring reproductive labour performed in the home). GDP is calculated by adding up the value-added atevery stage of production.
What is utility maximization according to consumer behavior? Consumer Behavior: Utility Maximization A foundational hypothesis onto individual behavior within modern econ
central problems of capitalist economy
Sources of Divergence The principal cause of extraordinary variation in output per worker between countries today are differences in their corresponding steady-state capital-ou
Students at XSU cannot register for english classes. Is this a situation of shortage or surplus of classes? Explain. Also would you expect market forces to do to tuition?
Illustrate the measurement of inputs and outputs in production technology? Measurement of Inputs and Outputs in Production Technology This is generally most satisfactory to
There are two individuals in town, one is high risk and the other is low risk. 1 The probabilities of having an accident for the low risk individual and high risk individual are p
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
what to produce of capitalism
What is law of combination
what is chemical combination
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