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Scrat [10]
3 years ago
10

Because different nations have vastly different numbers of people living in them, Gross Domestic Product (GDP) is a very poor wa

y to compare the economic well-being of people in different countries. What economic statistic is used by economists in its place? A. GNP B. per capita GDP C. wealth total D. life expectancy.
Business
1 answer:
fiasKO [112]3 years ago
3 0
I think the correct answer from the choices listed above is option A. Gross National Product or GNP is used by economists in place with GDP. Gross National Product is an expression used to measure economic growth and wealth. It includes the value of all goods and services in a given period of time.
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4 years ago
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Tamiku [17]

I believe the answer is: c. guaranteeing the fulfilment of needs and wants


By assessing the factors of production, we could gauge the amount of supply that we can make from the remaining factors of production and how much time we can expect to do it.

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babymother [125]

Answer:

The correct answer is letter "B": demand tends to be inelastic.

Explanation:

Inelasticity is a characteristic that goods and services have by which their demand does not change in front of fluctuations in price.<em> Consumer staples are considered inelastic goods since people need them to cover basic needs. </em>

Inelasticity is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is lower than one (1) the demand for that good or service is inelastic.

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You do the reverse here of what you did in the other question.

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