The given statement isTRUE. Goods and services are scarce because the... Learn more about this topic: Natural Resources | Definition, Types & Examples from Chapter 1/ Lesson 16 1.1M What are natural resources?
Explain the meaning of consumpton goods and capital goods . 04:05 Distinguish between : (i) intermediate goods and final goods (... 05:30 Give the meanings of : (i) NDP(FC) (ii) NDP(MP) (iii)GDP(MP) 04:21 Distinguish between : (I) domestic income and natinal income (ii)... ...
Answer to: Explain in detail the meaning of substitute goods. By signing up, you'll get thousands of step-by-step solutions to your homework...
International trade involves the exchange of goods between two or more countries or regions. The importance of international trade lies in its role as a global economic trend. By engaging in international trade, a country can leverage itscomparative advantagesand benefit, achieving a win-win outcome...
Explain the meaning of nominal interest rate and real interest rate. How are they related 答 :名义利率是银行所支付 的利率 ,实际利率是根据通货膨胀校正后 的利率 。名义利率、实 际利率之间的关系可写为下式: 实际利率=名义利率一通货膨胀 PROBLEMS AND APPLICATIONS 1. Suppose that people consume only ...
The ability to control emotions helps to change the perception of an event and its meaning (Averill et al., 2018). Thus the farmers with faster mental recovery may be better able to reassess their initial reaction and consider additional relevant information, which helps to transform their ...
In economics, the law of diminishing marginal utility states that the added benefit of consuming more of a product or service declines as its consumption increases.
Briefly explain the meaning of the t-test for regression analysis. Explain the trend projection method of demand forecasting. Describe the difference between observational and experimental data. 9)In conducting a hypothesis test, we always assume in the procedure that: a)th...
Meaning:A tuhao is someone who became rich virtually overnight, and usually refers to the type of bling luxury consumer who likes to show off that new wealth. Many people view the tuhao as having spawned a culture of uneducated, tasteless extravagance. ...
Explain the term derived demand. Demand: Demand relates to the number of goods and services that a particular population is able and willing to consume within a particular period. The demand for a particular good or service is impacted by different economic factors like price and income. The de...