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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.
Orval Kuphal
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∙ 12y agoOutput of production is the amount of goods or services produced in a given period of time. In other words, it's the result of an economic process which has used input for production.
Wiki User
∙ 11y agoGoods or services produced by a company in a given duration.
Wiki User
∙ 12y agoOutput in Micro economics is a measure of quantity pruduced by firms.
In Macro economics output is more regarded as a measure of GDP.
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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 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 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 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 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.
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
Economics can best describe as the study of?
Economic efficiency describes how well a system generates desired output.
What are input and output decisions in economics?
it basicly means 'BLAH BLAH BLAH!' cos it is such useless information!
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.
What is pcc in economics?
An economic model that illustrates full output and opportunity cost for a nation using all of its resources.
What is TP in economics?
The abbreviation for total product, which is the total quantity of output produced by a firm for a given quantity of inputs.
