1. Illegal and unreported economic activity: While goods such as illegal drugs, gambling, and prostitution are sold in markets, the transactions are hidden for obvious reasons.
2. Home production and bartered goods/services: If cash doesn't change hands, the transaction will not be included in GDP. One of the somewhat misleading aspects of GDP is that whether certain things are included depends not on the nature of the good or service, but whether it was (openly) exchanged for cash.
Answer:
It is either Human Resources Managment or Business Information Management
Answer:
Productivity is measured by the amount of output per unit of input.
In this case, the inputs will be the hours spent doing research and writing their essays. Output will equal the amount of pages written.
Marci spent 8 hours and wrote a 26 page long report, so her productivity = 26 pages / 8 hours = 3.25 pages per hour
Jack spent 20 hours and wrote a 26 page long report, so his productivity = 26 pages / 20 hours = 1.3 pages per hour
Marci is much more productive in terms of hours spent doing and writing, and how long the report is.
The problem with this type of analysis is that we do not know if Marci's report was good or bad, and the same applies to Jack's. Since we do not know what grade they got, we cannot be sure how effective their work was.
The nation of alpha does not bring seriously the gathering and publishing of its economic statistics. This forms uncertainty about forecasts, causing business firms to invest less.
<h3>What is meant by Business Forecasts?</h3>
Business forecasting is the process of predicting future market circumstances by analyzing historical data using business intelligence tools and forecasting techniques. Forecasting in business can be qualitative or quantitative. The process of predicting changes in a firm, such as sales, expenses, profits, and losses, is known as business forecasting.
Business forecasting aims to create better plans based on these knowledgeable projections, assisting in the prevention of probable failure or losses. The gathering, processing, compilation, dissemination, and analysis of economic data are the topics of applied statistics and applied economics. It has a close connection to econometrics and business statistics.
Hence, The nation of alpha does not bring seriously the gathering and publishing of its economic statistics. This forms uncertainty about forecasts, causing business firms to invest less.
To learn more about Business forecasting refer to:
brainly.com/question/21445581
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Answer:
Winston took a very good decision.
Explanation:
If Winston is making economic profit then the decision is good
Economic profit=Total revenue-implicit cost - explicit costs
where,
implicit cost= opportunity cost of best alternative and explicit cost is accounting costs
=150000-(60000+4000)-8000
=78.000
The economic profit is positive, a good indicator that Winston took a good decision.
