Answer:
The correct answer is letter "E": economies of scale.
Explanation:
Economies of scale mean productivity becomes more efficient as the number of goods produced increases. In most cases, companies that achieve economies of scale lower the average cost of their products by increasing production which is due to the spread of fixed costs required to produce the product among a large number of goods. Lower production costs typically represent lower prices for consumers.
Answer:
flexible and increases in AD will increase unemployment.
Explanation:
Keynesian economics can be regarded as macroeconomic theory that base on effects of total spending in the economy as well as its effects on inflation, output and employment. With regards to this theory, Keynes serve as advocate that speak that about increased government expenditures as well as lower taxes in order to stimulate demand as well as saving the global economy from depression.
It should be noted that Economists who advocate the Keynesian theory of economics would say that flexible and increases in AD will increase unemployment.
<span>rapidly; physical conditions; economic development; material possessions. This discusses the differences between folk customs and popular customs. The dissemination of information and knowledge about culture can be spread very quickly depending on the above factors, which include total population, proximity, environment, and abilities.</span>
Answer:
Your study partner is correct that the distinction between government’s budget deficit and debt is similar to the distinction between consumer savings and wealth.
Savings and deficits are actions that take place over time, they dont happen overnight . When any government is spending more than it receives in tax revenue in a particular time period, this governmemt will be running a budget deficit. On the other hand, when consumers spend less than their disposable income in a particular time period, they are saving.
However, both debt and wealth are measured at one point in time. When the government runs a budget deficit, the deficit is almost always financed by borrowing, which adds to its debt. This is also Similar to consumers who accumulate wealth by saving.
We can also say that your study partner is wrong in that the government can run a large budget deficit and have a small debt if it hasn’t run large deficits in the past.
Explanation:
See answer for the detailed explaination
Answer:
Value
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.
According to the economist Philip Kotler in his book titled "Marketing management" he stated that, there are five (5) levels of a product. This includes;
1. Core benefit.
2. Generic product.
3. Expected product.
4. Augmented product.
5. Potential product.
The core benefit of a product can be defined as the basic (fundamental) wants or needs that is being satisfied, met and taken care of when a customer purchase a product.
In Economics, value is a subjective assessment of benefits by a customer with respect to costs in determining the worth of a product.
For example, a hotel provides a comfortable and convenient bed to spend the night (sleep) when you travel for a vacation at a price.