5. There are four major forms which are the following: Merchandise exports and Imports, Service Exports and Imports, Investment and Multinational Enterprise. 6. It is the account which is a summary statement of the flow of all international economic and financial transactions between one nation (...
An economic sector is a type of business activity in an economy. There are various ways of dividing the sectors of an economy, but...
Business Economics Break-even (economics) What are economic profits at the short-run break-even price?Question:What are economic profits at the short-run break-even price?Fixed and Variable Cost:The fixed and variable costs refer to the types of costs that occur while manufacturing the pro...
uses depends on its level of technological advancement, population, trade relations with other societies, and level of natural resources. Three main types of economic systems exist in the modern world. Although students learn the three systems are capitalism, communism and socialism, this is ...
I wonder if some of these economic indicators are really as dependable as we think they are. My family and I often comment on retail sales and make an assumption on how the economy is doing. When I don't see as many people at the mall as previous years during holiday season, I know...
while both terms are related to resources and finance, "economical" is more about the efficient and thrifty use of resources, whereas "economic" is about the larger system of production, distribution, and consumption of goods and services. These two terms are not interchangeable and are used in...
What types of economic consequences may arise from accrual accounting for OPEBs in SFAS No. 106? What is the effect on the accounting equation when a business pays an account payable? What are the negative consequences, if any, that an account can expect who fails to follow GAAP?
Policy makers are also aware of a nation’s balance-of-payments (BOP) position. A nation is said to be an in external balance when it realizes neither BOP deficits nor BOP surpluses. In practice, policy makers usually express external balance in terms of a BOP sub account, such as the ...
An economy is a complex system of interrelated production, consumption, and exchange activities, which ultimately determine how resources are allocated among participants. The production, consumption, and distribution of goods and services combine to fulfill the needs of those living and operating within ...
Sectors are used by economists to classify economic activity by grouping companies that are engaged in similar business activities. For example, some sectors are engaged in activities that involve the earliest stages of the production cycle, such as extractingraw materials. Other sectors involve the m...