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Simple Inventory Model
Firstly, the product level initiates a demand, which generates a demand at the component level and then in turn at the raw material level. Think of an amplifier for an audio system. Firstly, the finished product. This is disassembled into its major components and in turn the major components are constructed from raw materials.
Increase in Productivity and Real Wage Earnings: Labour has been charged that whereas it presses for higher wages through trade unions, it has failed to raise productivity. Sh
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central problems of capitalist economy
in the keynesian model, the price is assumed to be what?
unique product
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