We usually take Gross Domestic Product , also commonly known as GDP,to measure a nation’s income more accurately and it is widely used.
GDP is a monetary value of all the final goods and services provided in a country, which also include private and public consumptions, goverment expenditures and investments etc.
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Answer:
D) involves higher coordination costs due to more complex tasks of managing a globally integrated enterprise.
Explanation:
A global strategy means that a plan that involves a number of different companies, departments and people from various cultures and nationalities having different first languages. Also, the question asks 'primary drawback'. The option A and B has no drawbacks or disadvantages in them so they can't be the answer. Having a global strategy decreases tariff issues and production costs as you have access to local production techniques and can produce locally so no need to import. Now option D focuses on 'higher coordination costs due to more complex tasks' which is true as a global strategy will require a lot of communication and information transfer. Hence, D is the correct answer.
Welfare economics seeks to evaluate the costs and benefits of changes to the economy and guide public policy toward increasing the total good of society, using tools such as cost-benefit analysis and social welfare functions.
Answer:
Movies are 'good' good.
Explanation:
'Good' is a good as per micro economic concept : which is desirable, liked by the consumer & command a price for being consumed.
Example : Damon likes watching movies, pays for it from his weekly allowance spending. So, movies are a 'good' for Damon.
'Bad' is a good as per micro economic concept : which is undesirable, not liked by consumer & command a price for being eliminated.
Example : Damon's mother doesn't like Trash. He pays Damon extra bonus weekly allowance, for getting trash removed. So, trash is a 'bad'