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National income accounting:
Final Goods: Final goods are goods and services which are being purchased for final use and not for resale or further processing or manufacturing.
Value Added: It is the extra worth that a firm or a producer adds to a product in the course of its production. If a gari processing firm purchases cassava for hundred thousand cedis and later turns it into gari which is sold or valued at hundred and fifty thousand cedis, then, the value added is fifty thousand cedis (i.e. 150,000 - 100,000 = 50,000).
Current Output: It refers to goods and services produced in the accounting period. This is so because under national income we are accounting for output within a defined time or accounting period say for 1st January 2000 to 31st December 2000. Factor Cost: The net price, that is, the market price minus indirect taxes or plus subsidies, is the factor cost, which is the amount received by the factors of production in that productive activity.
(a) Reasons of Urban Growth (b) Characteristics of Urban Growth (c) Economic Life of a Building (d) Zone of Transition (e) Location Theory (f) Patterns of Growth Theory (g) Growth
WHAT ARE THE PRACTICAL IMPORTANCE OF INCOME ELASTICITY OF DEMAND?
Elastic and Inelastic Demand can be understood as follows: Slope and elasticity of demand have an inverse relationship between them. When slope is high elasticity of demand bec
Specific Monopolist: Suppose a monopolist firm, I-Tech, pays $500,000 in short-run costs for its capital and unskilled labor. Its only short-run decision, th
Suppose a government uses an expansionary fiscal policy to get out of a recession. Use the IS/LM model and the IS-PC-MR model to explain what monetary policy to pursue.
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Q. Describe Labour Market Segmentation? Labour Market Segmentation: Deep and systematic differences among various groups of workers, in which different types of workers are eff
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Production: - Firms should choose how much of each to produce. - The alternative quantities can be illustrated by using product transformation curves. Product Transforma
Write a 1-2 page summary on markey failure
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