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the number of telephones it has in relation to its population.
Wiki User
∙ 11y ago
Wiki User
∙ 9y agoEconomists sometimes measure physical capital by looking at the non-human assets that are made by humans. Such assets are used for purposes of production.
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What Economists use per capital GDP to measure and compare nations relative?
Population
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
How do economists measure the consumption of a good?
the amount of a good that is bought
How 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 Economists use per capital GDP to measure and compare nations relative?
Population
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
How do economists measure the consumption of a good?
the amount of a good that is bought
Which statistic do economists use to measure the business cycle?
price indicator
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.
How 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.
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)
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 is the tool that economists often use as a rough measure of a nations prosperity?
Per Capita GDP
What do economists look at to measure a nation's overall performance in the global economy?
i believe its balance of trade
What concept do economists use to measure the satisfaction a person gets from the use or consumption of goods and services?
The concept of utility is a measure of consumer satisfaction.
