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Is economic growth necessary for economic development?
Economic growth is necessary for economic development but not a sufficient proof of economic development. The improvement of people's living condition is a greater assessment of economic development.
How can one determine the economic surplus on a graph?
To determine the economic surplus on a graph, calculate the area between the supply and demand curves up to the equilibrium point. This area represents the total economic surplus in the market.
What is the difference between social infrastructure and economic infrastructure?
Infrastructure means the basic facilities which are necessary for the development of a nation. Economic infrastructure is the combination of basic facilities which is helpful in economic development of an economy and businesses. It includes facilities of telecommunication, electricity, transportation, energy etc. Social infrastructure is the combination of basic facilities which are necessary for human development. It includes health (hospitals), education (school, colleges etc.) and housing. Both of these infrastructures are complementary to each other and are necessary for the overall development of an economy.
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
What is surplus economic unit?
An economic unit having access of funds and wants to lend his funds
Is economic growth necessary for economic development?
Economic growth is necessary for economic development but not a sufficient proof of economic development. The improvement of people's living condition is a greater assessment of economic development.
What has the author Anders Danielson written?
Anders Danielson has written: 'The economic surplus' -- subject(s): Economic conditions, Economic development, Surplus (Economics) 'The political economy of development finance' -- subject(s): Economic policy, Fiscal policy
A necessary precondition for a neolithic village to become a civilization in prehistory was the?
development of agriculture and the ability to produce surplus food.
What has the author Worthley Dodd McCourtie written?
Worthley Dodd McCourtie has written: 'The potential role of foreign agricultural surplus in the economic development of Jamaica' -- subject(s): Surplus agricultural commodities, Economic assistance in Jamaica, Economic conditions
What was the necessary precondition for a neolithic village to become a civilization?
Agriculture was the necessary precondition for a Neolithic village to become a civilization. The ability to practice agriculture allowed for the production of surplus food, leading to population growth, social stratification, specialization of labor, and the development of social, political, and economic structures characteristic of civilizations.
How can one determine the economic surplus on a graph?
To determine the economic surplus on a graph, calculate the area between the supply and demand curves up to the equilibrium point. This area represents the total economic surplus in the market.
How did the Neolithic Revolution contribute to the development of more complex economic and social systems?
The Neolithic Revolution marked the shift from hunter-gatherer societies to settled agricultural communities, leading to surplus food production. This surplus allowed for the specialization of labor, development of trade, and the emergence of social hierarchies. The need to manage resources, trade goods, and organize labor led to the development of more complex economic and social systems.
What is the difference between social infrastructure and economic infrastructure?
Infrastructure means the basic facilities which are necessary for the development of a nation. Economic infrastructure is the combination of basic facilities which is helpful in economic development of an economy and businesses. It includes facilities of telecommunication, electricity, transportation, energy etc. Social infrastructure is the combination of basic facilities which are necessary for human development. It includes health (hospitals), education (school, colleges etc.) and housing. Both of these infrastructures are complementary to each other and are necessary for the overall development of an economy.
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
Distinguish between domestic and international finance?
Finance is the process of transferring fund from surplus economic unit to deficit economic unit. Domestic finance is the process of transferring fund from surplus economic unit to deficit economic unit within a country. And International finance is the process of transferring fund from surplus economic unit to deficit economic unit when any of these units is located outside a national country.
What is surplus economic unit?
An economic unit having access of funds and wants to lend his funds
How do you calculate economic surplus?
I do not know. Try asking Jeeves.
