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the number of telephones it has in relation to its population.

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13y ago

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What Economists use per capital GDP to measure and compare nations relative?

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How do economists sometimes measure human capital in an economy?

Economists cannot measure human capital as such because it refers to the stock of knowledge and skills, embodied in the ability to perform labour. However they measure the labour force by looking at the amount of people able to work between the ages of 18-65, and they can also look at the qualifications that these people hold, so they may be able to make a rough analysis of human capital, measured upon the number people in the labour force and comparing this to the level of education they have received.


How do economists measure consuption?

on a historical basis


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Which statistic do economists use to measure the business cycle?

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Economists measure a nation's standard of living: by calculating GDP per person by calculating per capita income (the best indicator) by calculating average personal income.


Why do economists measure the cost of things when opportunity cost is what you actually are considering we when decide whether or not to purchase something?

it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)


Do economists measure a nation's standard of living?

Economists measure a nation's standard of living: by calculating GDP per person by calculating per capita income (the best indicator) by calculating average personal income.


What are the advantages and the disadvantages of return on capital employed?

This is used to measure the amounts of returns they get from their employees. It can sometimes show an inaccurate number.


What do economists look at to measure a nation's overall performance in the global economy?

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What concept do economists use to measure the satisfaction a person gets from the use or consumption of goods and services?

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WHAT Economists Use The Concept Of To Measure The Satisfaction A Person Gets From The Use Or Consumption Of Goods And Services.?

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