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Transfer Payments
Are any payments made to households by the government that are not made in return for the services of factors of production i.e. there is no Quid pro Quo. Such payments do not lead directly to any increase in output and for this reason they are not included in the nation GNP.
Explain the importance of managerial economics.
What is the goal of a firm?
Other Determinants 1. Rate of Interest Is contained in the argument of the classified economists who argued that rational consumers will save more and consume les
TYPES OF BUDGETS 1. Deficit budget If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget defic
Q. Illustrate Internal Economies of Scale? Internal economies of scale are the benefits of large scale production. They are enjoyed by the firm when it increases its scale of p
Jeremy is an economics learner who loves hamburgers. He could eat any number of them for dinner, but he gets a really bad stomach ache after eating a certain amount. In fact, his u
In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you w
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
Define the term forecasting As the term 'forecasting' may appear technical, planning for future is a critical aspect of managing any business or anorganisation. The long-term
1. The price of a U. S. produced hammer is $5. The exchange rate with Malaysia is 3 Ringgit/1$. What is the current price of the hammer in Malaysia? (Assume no transportation cost.
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