Distinction between cost and expenditure, Microeconomics

Distinction Between Cost and Expenditure

As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expenditure is the money equivalent of resources needed to access a good or service. Accessing a good or a service implies that one has to pay

(i) The cost of producing it

(ii) The profits expected by the producer as determined by market conditions for the same

(iii) The time and efforts required to purchase it.

Posted Date: 12/17/2012 4:39:31 AM | Location : United States







Related Discussions:- Distinction between cost and expenditure, Assignment Help, Ask Question on Distinction between cost and expenditure, Get Answer, Expert's Help, Distinction between cost and expenditure Discussions

Write discussion on Distinction between cost and expenditure
Your posts are moderated
Related Questions
Determinants of the Income Elasticity of the Demand: The determinants of income elasticity of demand are given below: The Degree of necessity of the commodity.

Determine the indirect utility function in brief. Indirect Utility Function: The ordinary utility function, u(x), is described over the consumption set X and thus to as the

Mrs Holt, 85 years old, has been admitted to acute care following a fall resulting in a fractured femur. She is a widow and lives alone with her three cats for company. a) What

Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc

determination of rent

I need to write an essay about industrial and labour relations ( at most 5 pages ) Deadline is in a month. I would like to know if your tutor can do that and how much it costs.

Sally recently finished her full-time training and received certification as a nurse’s aid at the end of August. She sent out applications to prospective employers during the last

What is ceteris Paribus?  Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa

Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations:  1) For any level of K, output increases with L.  2) For any

boumal''s single product modelwith out advertisment