Answer:
The correct answer is letter "C": the relationship between a country's GDP and its factors of production.
Explanation:
The Aggregate Production Function describes the relationship between a country's Gross Domestic Product (GDP) and the factors of production involved in it. Aggregate Production functions are considered physical and human capital, labor, knowledge, social infrastructure, and natural resources. Production increases as a result of increases in capital, natural resources, and labor.
Answer:
Full Business Considerations
Efficient Facilities
A Cost-Effective Advertisement
He must Define his Services
He must outline his Service Prices
Carry out interviews for New Clients
With all of these steps being adhered to, Philippe's business will indeed be great!
False.
If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD.
An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
Marginal analysis is to examine the added benefits versus the added cost of an activity. Consumers use marginal analysis unknowingly for their decisions everyday. While producers use marginal analysis as a tool for making a decision that will help them maximize their financial gain.
