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How do economists differ from accountants in the use of the term profit ?
Definition of rev and accounting costs
a) foregone interest
b) foregone wages
c) risk premium
state the demand theory.
What does Rostow predict? For Rostow: • Savings and capital accumulation (formation) are central to the procedure of growth therefore development • The solution to de
the basic assumption of the static model
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
Accountants prepare income statements typically in terms of historical costs, in terms of the purchase price, rather than in terms of the current price. The reasons given for this
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
Scenario: A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions
What is structural change? Structural change: Structural change arises while the associate share of GDP and employment accounted for through the primary, secondary and te
QUESTION Organisations have long been concerned with attracting and retaining talented employees. The primary reason is that they depend on the skills and talent of their workf
which product we choose
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