One current consumer trend is consumers who allow others to borrow a good or service for a small fee, usually done on an on-line platform. this is referred to as Sharing Economy.
The sharing economy is an economic model defined as peer-to-peer (P2P)-based activities of obtaining, providing, or sharing access to goods and services, often facilitated through online community-based platforms.
Under capitalism, the sharing economy is a socio-economic system built around the sharing of resources. It often involves a way of purchasing goods and services that differs from the traditional business model of a company that employs people to manufacture the products it sells to consumers.
It will decrease
because the marginal productivities of workers will decrease. Diminishing marginal product occurs when the
marginal product of an input goes down as the quantity of the input goes up. The transformation in product resulting from
employing one more unit of a particular input for instance, the change in
output when a firm's labor is mark up from five to six units, assuming that the
mass of other product are kept constant is
called The input of marginal product or marginal physical product.
B. they involve the use of expert judgement do develop forecasts
Explanation:
A time series is a series of events that is spaced equally in time. It is a statistical technique used to identify a time based trend of events and them make forecast using data from the trend/time series.
Time series requires certain processes which include discovering of a pattern in the historical data, projection of the historical data into the future, assumption that the pattern will remain the same(constant) as the time goes by, etc.
In time series method, since historical data is the point of reference for making a forecast, no expert judgements is required to develop forecasts. This is because once the data of the series from the past has been taken and a trend/pattern has been identified, that becomes the basis for future forecasts.
If short-run equilibrium output equals 20,000 and full employment equals 25,000, then this economy has <u>recessionary.</u>
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There have been 48 recessions in the United States dating back to the Articles of Confederation, and economists and historians determine that the 19 recessions before the Great Depression were bigger than since the end of World War II.
The health of the country's agricultural and industrial production, consumption, business investment, and banking sectors contributed to these declines.
The US recession is weighing more heavily on economies around the world, especially as national economies become more and more interdependent.
