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What does in increase in productivity mean?
It means an increase in the ability to produce more at a quicker rate.
What is the primary determinant of a country's standard of living?
a country's ability to produce goods and services
Distinguish between actual and potential growth?
• Potential growth is the change in the ability of the economy to produce goods and services.•Actual growth is a rise in the quantity of goods and services produced
How economic growth of a country is measured?
Economic Growth can be defined as an increase in output produced by an economy in a period of time (usually a year) or an increase in the ability of an economy to produce goods and services. Economic Growth itself can be measured by measuring an increase in GDP, Real GDP (GDP adjusted for inflation), or Real GDP per capita (a measure of standard of living) which means the increase in real output per person.
How marketing help in increasing national income?
marketing helps to add value in goods and services produce thus an increase in the national output
What does in increase in productivity mean?
It means an increase in the ability to produce more at a quicker rate.
What is called the power to produce or provided?
The ability to produce goods or services is known as productive capacity.
What is the primary determinant of a country's standard of living?
a country's ability to produce goods and services
What good and services to produce?
What good and services to produce?
Distinguish between actual and potential growth?
• Potential growth is the change in the ability of the economy to produce goods and services.•Actual growth is a rise in the quantity of goods and services produced
How economic growth of a country is measured?
Economic Growth can be defined as an increase in output produced by an economy in a period of time (usually a year) or an increase in the ability of an economy to produce goods and services. Economic Growth itself can be measured by measuring an increase in GDP, Real GDP (GDP adjusted for inflation), or Real GDP per capita (a measure of standard of living) which means the increase in real output per person.
How marketing help in increasing national income?
marketing helps to add value in goods and services produce thus an increase in the national output
What type of machine advantage describes the ability of a machine to increase output force?
mechanical advantage
What are the four basic questions of economy?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
Is man a social being or an economic being?
Man is a social being with a social contract with the society but with economic ability to produce good and services for his economic human wants and needs.
What is increases productivity lead to?
It means an increase in the ability to produce more at a quicker rate.
What are the functional characteristics of life?
Functional characteristics of life include metabolism (the ability to obtain and use energy), growth (ability to increase in size or complexity), reproduction (ability to produce offspring), response to stimuli (ability to react to the environment), and homeostasis (ability to regulate internal conditions).
