Q: Meaning of economic
A: Like the other social sciences, Economics also involves the study of human interactions with each…
Q: three types of business activities? Distinguish one from the other
A: Business activity can be considered as an economic activity and a profession at the same time.…
Q: Discuss Israf and Tabzeer in detail
A: Consumerism takes place when human focuses more on his wants than his needs. It can be seen as a…
Q: What are the single - use goods and the durable goods in economics with examples
A: In simple words economic services or the goods are those goods which are initially produced by the…
Q: GST was first introduced in which country ?
A: GST was introduced in many countries to reduce the tax evasion.
Q: Name any two types of consumption goods with examples
A: Those goods which have the tendency to satisfy the wants of the consumer are said to be as Consumer…
Q: why it is less likely to people to migrate from urban to rural?
A: Migration is an economic process where people move from a city/place to another in search of better…
Q: Represent the following data by rectangular diagram showing percentage of Income spent by two…
A: Every individual/family is constrained by a certain budget, which is made up of the income and also…
Q: Services are tangible product; activities provided by other people, such as doctors, dentists,…
A: In economics, goods are objects that are obtained at the end of the production process. A producer…
Q: What might the impact of a flat world be on your standard of living?
A: When talking about flat world, it refers to the changing scenario of markets of different nations…
Q: A healthy economy that is working properly is called
A: full work as an economy in which the joblessness rate approaches the nonaccelerating expansion pace…
Q: With the help of appropriate examples, explain the concept of value added.
A: Product or value added method is a method of calculating Gross Domestic Product.
Q: ch the economy with its definition
A: Mixed Economy - It is the economy in which the decisions related to the economy (mainly consumption…
Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…
A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…
Q: difference between Primary and secondary markets.
A: Meaning of Financial Assets: The term financial assets refer to the situation, under which these…
Q: The main reason the cost of living varies acrossregions of the country is differences in the price…
A: The cost of living refers to the required amount of money to meet the basic expenses of a family…
Q: What is meant by the cost of living? Describe the cost of living in the state of New Jersey.
A: Cost of living can be explained as the money required for the expenses incurred on the basic…
Q: Explain with graphics) A consumer, who is initially a lender, remains a lender even after a decline…
A: Even if interest rates fall, a customer who was formerly a lender remains a lender. This customer…
Q: Definition of micro
A: In economics we study the decision of societies in the condition of scarcity, people has to choose…
Q: Calculate : a. GDI b. GNI c. NNI d. NI e. Personal income f. Disposable income
A: Income from employment & self employment = 25000 Income from rent, dividend & interest =…
Q: Compare and contrast time and place utility, and explain how they contribute to the value of…
A: The utility is the want satisfying power of the commodity. The value of the products or the various…
Q: Describe the service economy briefly, and the nine supersectors.
A: According to the United States Census Bureau, the service sector produces intangible goods, more…
Q: How does the LAC fit in the picture and what are the implications for the region?
A: Latin America and the Caribbean were formally recognized by Beijing as a "natural extension of the…
Q: Which category of household expenditures does the U.S. government consider to be a component used in…
A: A minimum standard of living refers to ability of an individual to acquire food, clothing and…
Q: Examine the role and contribution of the services sector to GDP of Ghana in the year 2020
A: Ghana borders Togo, Cote d’Ivoire, and Burkina Faso on the Atlantic Ocean. It has a population of…
Q: What would be the value of APC if consumption is $2000 and income is $5000
A: (Q) What would be the value of APC if consumption is $2000 and income is $5000?
Q: How do you think the U.S. economy will change as we move closer to a technology-driven service…
A: U.S economy is allready at a development stage.It is a developed country.It has become master in…
Q: Why is microfinancing an unsuitable concept, according to some critics?
A: Microfinance was first launched in the 1970s as a means of assisting individuals in lifting…
Q: How might the economy in the United States change as it moves closer to a technology-driven service…
A: The technological innovation has made all the developed economies like the United States more…
Q: What are the factors used to measure economic well being?
A: The economics is derived from the GREEK word OKIONOMIA meaning management of household. It give the…
Q: In India what are the goods or services which do not comes under GST
A: GST stands for Goods and service taxes, in India it is effective from 1 July 2017. There are five…
Q: it is possible for any economy to be based entirely on services
A: A service economy is an economic system that is characterized by the dominance service sector…
Q: (b) Lori is a student who teaches golf on the weekend and in a year earns $20,000 after paying…
A: The income of an individual refers to the total amount which is earned from all the sources over a…
Q: Define economy
A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…
Q: What are the relationships between health and education, on the one hand, and productivity and…
A: The basic goals of development are education and health. Both are necessary for improving human life…
Q: Illustrate the purpose of using the data in business?
A: Data can be used in various fruitful ways for earning higher returns from a business. In fact in the…
Q: Households play a role in the circular flow of goods by: A. providing natural resources to…
A: A circular flow of goods is an economic concept to describe the scenario of goods market where firms…
Q: What is the role of services sector as Facilitator and as an information processor. Write their…
A: The service sector is the third tier in the economy of three sector. Instead of the product…
Q: What elements of happiness do wealth and productivity miss? What elements of happiness do they…
A: Self survival, well-being, good governance etc. are the components of satisfaction that wealth and…
Q: Which category of household expenditures does the U.S. government consider to be a component used in…
A:
Q: If savings are at $1300 and income is worth $2200, what would the value of consumption be
A: According to neoclassical economists, ingestion serves as the ultimate goal of economic activity; as…
Q: What is the relationship between the rising cost of living and low-income communities’ standard of…
A: The cost of living is the average amount of money that people in a certain location require in order…
Q: In terms of Islamic Economic, what is the Muslim Consumer Behavior and why it is related to the…
A: The behaviour of a consumer is a complex phenomenon that is influenced by multiple diverse forces…
Q: Need urgently What might the impact of a flat world be on your standard of living?
A: The impacts of flat world on the standard of living are as follows :-
Discuss the importance of services to the economy
Economy is the inter connection of different economic activities such as production, planning, manufacturing, packaging, distribution of goods and services ensure optimization of the resources available in the market during the given period of time.
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