How can we define "production" in economics? What is total output in economics? What is the economic model that brings about economic growth faster than that of capitalism? In economics, what is production? Differentiate between capital and labor. What is the meaning of labor as used...
Cloud economics is the study of the cost, resource usage, and business impact of a cloud IT platform for an organization. A cloud economics analysis examines whether the benefits of a cloud platform outweigh the cost and hassle of migration, in both the short and long term. A sound business...
What is the definition of inflationary gap?An inflationary gap is always related to a business-cycle expansion and arises when theequilibrium levelof an economy’s aggregate output is greater than the output that could be produced at full employment. ...
Ecommerce is the business of buying and selling goods and services over the internet. Ecommerce customers can make purchases from their computers as well as other touchpoints including smartphones, smartwatches, and digital assistants such as Amazon’s E
What is productivity in economics? We’ve touched on labor productivity, but economists measure other types of productivity, too.Capital productivityis a measure of how well physical capital—such as real estate, equipment, and inventory—is used to generate output such as goods and services. (Ca...
Suppose the economy faces a recessionary gap. Answer the following: (a) What fiscal policy can bring the economy to full potential output? What changes in G and/or T'? (b) Using the AD-AS graph, sho What are the determinants of productivity in macro ...
A waiver is a legally binding provision where either party in a contract agrees to voluntarily forfeit a claim without the other party being liable.
Although many people talk about the widening gap between rich and poor in the United States, plutocracy is more an implicit concept than a formal governing model in any modern country. Author and former Harvard Business School professor David Korten believes that plutocracy "describes our situation...
Indeed, the late Chicago School Economics expert, Milton Friedman, laid the basis for such criticisms when he flatly proclaimed that the “Business of business is business” and hence, the “Responsibility of business is business” and nothing else. Thus, in one stroke, the debate is dead in...
In some areas, China is likely to achieve goals quickly, for example, as China still represents nearly a quarter of global manufacturing output; taking leadership in smart factories should be a no-brainer. China is turning its cities into large-scale pilots for 5G-enabled smart cities at a ...