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National income:
The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either for consumption or for addition to wealth. GDP is the monetary value of final goods and services produced in an economy (for example within the four walls of Ghana) in a given time period, say one year.
National Income estimates are very useful to economists, policy makers, business people and investors. However, some problems are faced in accounting for national income.
for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
What is International Trade Economics, Explain study area of international trade economics.
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
Consider a non-renewable resource. There are two periods, now and later. The demand curve in each period (t = 1, 2) is Qt = 10 - Pt. The stock of the resource is 10 units. Extracti
discuss how the price mechanism allocate resources in a free market system
Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will
how to write an assignment on Human development index
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
Find the highest interest rate: There are 2 entrepreneurs, Sally and Paul. The return to their projects are given by: To finance the project, each entrepreneur needs
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