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Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
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What does q stand for in economics?
the q stands for output
What is a slump in regards to economics?
it is a period of low output and low employment
What is considered an optimal mix of output?
The optimal mix of output is known in economics as the most desirable combination of output attainable with available resources, technology, and social values.
What is the method to calculate average fixed cost in economics?
To calculate average fixed cost in economics, you divide total fixed costs by the quantity of output produced. This gives you the average fixed cost per unit of output.
What is productivity in economics?
Productivity in Economics is simply the ratio of how much you can produce (Output), based on the resources available (Inputs). This is usually linked to production theory.
What does q stand for in economics?
the q stands for output
What is a slump in regards to economics?
it is a period of low output and low employment
What is considered an optimal mix of output?
The optimal mix of output is known in economics as the most desirable combination of output attainable with available resources, technology, and social values.
What is the method to calculate average fixed cost in economics?
To calculate average fixed cost in economics, you divide total fixed costs by the quantity of output produced. This gives you the average fixed cost per unit of output.
What is Mirco Economics?
Micro economics is a branch of economics. It is a study of individual person, household, firm or industry. It involves determination of prices, quantity demanded and supplied, prices and output, etc.
What has the author Edwin S Mills written?
Edwin S. Mills has written: 'Price, output, and inventory policy' 'Urban economics' -- subject(s): Urban economics 'The economics of environmental quality'
What is productivity in economics?
Productivity in Economics is simply the ratio of how much you can produce (Output), based on the resources available (Inputs). This is usually linked to production theory.
How is the average fixed cost determined in economics?
The average fixed cost in economics is determined by dividing the total fixed costs by the quantity of output produced. This calculation helps businesses understand the cost per unit of production that remains constant regardless of the level of output.
What is national income accounting in economics?
is the measurement of the flows of output (goods and services) of an output (factors of production) that pass through the market in an economy during a specific period
What are input and output decisions in economics?
it basicly means 'BLAH BLAH BLAH!' cos it is such useless information!
Economics can best describe as the study of?
Economic efficiency describes how well a system generates desired output.
What is the difference between internal economics and external economics in managerial economics?
There's a lot of difference between Internal Economics And Managerial Economics. Internal Economics: It is economics related to an individual firm...where it is the practice of day to day operations in medium of puting various amount of inputs for a desireable output. Managerial Economics:It is the economics which is the practice of managing the firm,by divsion of labour and application of certain principles of management in day to day work.
