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Q. What is Gross Domestic Product Per Capita?
Gross Domestic Product, Per Capita: Level of GDP divided by the population of a region or country. Changes in real GDP per capita over time are often interpreted as a measure of changes in the average standard of living of a country though this is misleading (since it doesn't account for differences in the distribution of income across factors of production and individuals, and it doesnot consider the value of unpaid labour).
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Building up a Stable and Viable Export Production Base: It is necessary to make a deliberate production plan and to earmark a part of production for export even if there is a
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Derived demand and Demand schedule: D erived demand is where the demand for a final product leads to the demand for a second product which is used to produce this final p
Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
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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. Expen
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