Answer:
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Explanation:
GDP is an acronym for Gross Domestic Products (GDP) and it can be defined as a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
On a related note, Gross Domestic Products (GDP) is a measure of the production levels of any nation.
Basically, the four (4) major expenditure categories of GDP are;
I. Consumption (C).
II. Investment (I).
III. Government purchases (G).
IV. Net exports (N).
In conclusion, GDP is a measure of the total amount of finished goods and services produced by a country.
For a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
<h3>Why is the relationship between demand and price of prestige products direct?</h3>
The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.
And when the quantity demanded increases, the price tends to increase.
An example of a prestige product is an old car.
Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
Learn more about the demand for prestige products at brainly.com/question/6374886
The worlds most largest national economy in nominal terms. Is the second largest in purchasing power parity (ppp).
representing 22 percent of nominal global gpd and 17 percent of gross world product (gwd)
Answer:
- The balance in the subsidiary ledger will equal the balance of its supported account in the general ledger.
- The account which the subsidiary ledger supports in the general ledger is called a control account.
- It is a supporting ledger that contains detailed information about a general ledger account.
- Two of the most common subsidiary ledgers are for Accounts Payable and Accounts Receivable.
Explanation:
A subsidiary ledger is defined as a supporting ledger that contains details of an account on the general ledger.
It gives a breakdown of the single amount that reflects in a general ledger account.
For example if the accounts payable account has a balance of $50,000, the subsidiary ledger will show the individual transactions that make up the $50,000.
Therefore the balance of the subsidiary ledger will equal the amount in the general ledger account.
