excludes value added from the underground economy, such as tips taken "under the table.
Because output generates income.
That is true :)
law of comparative advantage(Kaylop)
haw the amount of output an economy produces can be determinis?
The mix of output to be produced, the resources to be used in the production process, and for whom the output is produced
Because output generates income.
That is true :)
The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost.
haw the amount of output an economy produces can be determinis?
haw the amount of output in economy produces can be detreminis?
law of comparative advantage(Kaylop)
The mix of output to be produced, the resources to be used in the production process, and for whom the output is produced
A growth in the total output produced.
Output is what is produced. Outcomes are the result of the output
The information produced by a computer is called output.
Market Economy
The factors of production and the production technology determine the economy's output of goods and services. An increase in one of the factors of productionor a technological advance raises output.