The term BUSINESS CYCLE is a popular way to describe the rescission-expansion pattern followed by the economy.
Answer:
Price elasticities of demand and supply
Explanation:
Tax is a compulsory amount levied on goods and services by the government or an agency of the government.
taxes increases the prices of goods and services
Deadweight loss of tax refers to a reduction in quantity demanded and supplied as a result of tax.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of supply measures the responsiveness of quantity supplied to changes in price of the good.
If demand or supply is elastic, the deadweight loss of tax is higher. If demand or supply is inelastic, the deadweight loss of tax would be lower.
Descriptive analytics is best described with a report that includes charts and graphs explaining the data.
<h3>What Is Descriptive Analytics?</h3>
The interpretation of historical data through descriptive analytics helps to better comprehend changes that have taken place in a firm. The process of using a variety of historical data to make comparisons is known as descriptive analytics.
In contrast to the complicated calculations required for predictive and prescriptive analytics, descriptive analytics typically uses simple math and statistical methods, such as arithmetic, averages, and percent changes. Since results are presented using visual tools like line graphs, pie, and bar charts, descriptive analytics may - and should - be easily comprehended by a broad corporate audience.
Therefore, a report with charts and graphs illuminating the data is the best way to describe descriptive analytics.
To know more about prescriptive analytics refer to: brainly.com/question/14392964
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Answer:
the gross domestic product or GDP would be 1.382,675 Rupees
Explanation:
