periodoftime 3transferpayment(G)referstothereliefincomeallowance providedbythegovernmenttoresidents Nationalincome(NI)referstothetotalincomeofacountry fortheproductionofvariousproductionfactorswithinone year,i.e.,thesumofwages,profits,interestandlandrent. 5marginalpropensitytoconsume:increaseordecreasethe ratioof...
consider all of the variables that contribute to the unemployment rate. This can include a wide range of influences, from macroeconomic conditions to minor details like weather patterns. As an indicator, theunemployment ratemay not fully encapsulate all the factors contributing...
Economic efficiency is when all goods and factors of production in an economy are distributed or allocated to their most valuable uses and waste is eliminated or minimized. A system is considered economically efficient if thefactors of productionare used at a level at or near their capacity. In ...
The meaning of FACTORY is a station where factors reside and trade. How to use factory in a sentence.
Definition: Ineconomics, factors of production, as the name signifies are the inputs or say resources acquired by the firm to use them in the production of goods or services, so as to earn a profit. The word‘production‘ refers to a systematic process of converting the inputs, into finis...
Factors of production Land:any natural resources. Labour:any mental & physical human labour. Capital:man made resources used in the production of another good. Enterprise:the financial risk-takers, organizing other 3 factors of production toget...
Related to etiological factors:etiology e·ti·ol·o·gy alsoae·ti·ol·o·gy(ē′tē-ŏl′ə-jē) n.pl.e·ti·ol·o·giesalsoae·ti·ol·o·gies 1. a.The study of causes or origins. b.The branch of medicine that deals with the causes or origins of disease. ...
The meaning of CIRCUMSTANCE is a condition, fact, or event accompanying, conditioning, or determining another : an essential or inevitable concomitant. How to use circumstance in a sentence. Synonym Discussion of Circumstance.
SRAS(short run aggregate supply):is the total output of an economy that will be supplied when there has not been enough time for the prices of factors of production to change. The cost effect:although wage and cost of raw materials do ...
socioeconomic Encyclopedia Wikipedia Related to socioeconomic:Socioeconomic class so·ci·o·ec·o·nom·ic (sō′sē-ō-ĕk′ə-nŏm′ĭk, -ē′kə-, -shē-) adj. Of or involving both social and economic factors. American Heritage® Dictionary of the English Language, Fifth Edition...