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Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure.
Surplus, Economic: For the economy as a whole, surplus equals the amount of production over and above what is essential for the reproduction of existing economic system (including essential consumption required to reproduce population, and depreciation on existing stock of capital). An economy's aggregate surplus can be consumed (to allow for a standard of consumption higher than mere subsistence, or to finance wasteful projects such as wars or monument-building) or re-invested to expand future production.
Water Meter Replacement Program: Typically water providers install meters at each service address, read meters monthly and charge customers according to their usage. In resid
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Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
What is the difference between 'scarcity' and 'shortage'? 'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce go
Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
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