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What are the taxes levied by Indian union government and appropriated by the states?
passenger and goods taxes
What impact did technological advances have on the production goods?
production of goods was increased
What is last factor of production?
The factors of production are resources that are the building blocks of any economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, entrepreneurship and IT.
What goods used in the production of final goods?
Intermediate Goods
Difference between basic goods capital goods intermediate goods and consumer goods?
Basic goods is anything tangible, i.e. not services. Capital goods have value retention as assets, e.g. a building used for offices. Intermediate goods are objects used in the production of a final good, whether its the label on a can of paint sold in a store or the sign of an arrow pointing to the Restrooms in a building. Consumer goods are those that end up being consumed, like an ice cream sundae or a slingshot. bicycle
What kind of goods are used in the production of final goods?
Intermediate goods are used in the production of final goods. They consist of the materials used to create the final product.
What type of resource is a factory building?
A factory building is a physical resource used for manufacturing goods. It is considered a capital resource as it contributes to the production process and adds value to the final product.
What are manufactured goods used in the production process?
Capital Goods
Economics is about the allocation of resources for the production and distribution of goods?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
What is the distinction between final goods and intermediate goods in the production process?
Final goods are products that are ready for consumption by end-users, while intermediate goods are used in the production of other goods and are not meant for final consumption.
The increased use of machinery in production of goods was seen in the .?
The increased use of machinery in production of goods was seen in the industrial revolution.
Which person studies the production .distribution and consumption of goods and services?
An Economist studies the production distribution and consumption of goods and services
