Answer;
Who will consume the goods and services?
What goods and services will be produced?
Explanation;
There are three key economic questions every society must answer. These are;
- What goods and services should be produced?
- How should these goods and services be produced?
- Who consumes these goods and services?
The role of a consumer (or of consumers in general) is important in an economic system because it is consumers who demand goods and services. When they do this, they make it so that other people can have jobs making the goods and services the consumers want.
Answer:
Real GDP
Explanation:
A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called "Real GDP"!
Real GDP measures the values of the output adjusted for price changes. It reflects the value of all goods and services which are produced in a particular year.
It is also known as "constant-price" GDP. Mathematically, Real GDP = nominal GDP/ deflator.
Answer:
<u>increasing real output and reducing unemployment</u>
Explanation:
The expansionary phase of the cycle is business characterized by the i<em><u>ncreasing real output and reducing unemployment.</u></em>
<em> Business cycle refers to that cycle in which there is increase and decrease or fall and rise of output of goods and services.</em>
<em> Business cycle has main four stages expansion ,peak , contraction and trough.</em>
The main cause of business cycle is the forces of supply and demand , expectation of future and it availability of the capability may also cause the business cycle.
Economic cycle is another name of Business cycle . Business cycle plays a crucial rule in the economy as it influence the demand of the consumer.
Answer: people with similar ideas gather in the same place.
Explanation:
According to the convergence theory, like minded people or economies are always together and gather in the same place. It is the assumption that over time, the group members will be more alike and have the same behavior.
In an organization, it can be referred to as company culture because the employees typically have identical behavios, characteristics, and philosophies.
Answer:
Target cost per unit= $2.64
Explanation:
The target cost is arrived at by subtracting the a desired profit margin from a competitive selling price.
The target cost per unit =
((selling price × qty) - (cost of capital(%) × initial cost))/No of units
=( (3× 1,000,000) - (18%×2,000,000) )/ 1,000,000
= 2.64
Target cost per unit= $2.64