Answer:
Option 2 is only correct.
Explanation:
The reason is that the physical capital is the physical assets used for production of goods and services whereas the Technological knowledge refers to the knowledge of increasing the productivity by utilizing physical capital. So these two statements were incorrect.
The second statement is correct because the better tools or technology we have the better we can produce. This means these technological tools helps workers to produce more so the statement is correct.
Answer:
The correct answer is letter "C": average person in the economy.
Explanation:
The Gross Domestic Product (GDP) measures the level of output of a country given a certain period -by quarter and year, usually. It considers <em>government expenditures, private investments, consumer spending, </em>and <em>net exports </em>(exports minus imports).
The GDP per capita represents the GDP per person and is calculated by dividing the GDP by the population of a country. GDP per capita represents an approximate of the expenses of an individual. Smaller richer countries such as Luxembourg or Switzerland tend to have higher GDP per capita.
Answer:
It is the sum of the fixed costs and variable costs.
Hope this helps!
Answer:
The correct answer is letter "C": sales minus costs of intermediate goods.
Explanation:
Value Added is used to describe the extra something a company does to a product that makes it worth more than the cost of its underlying parts. For economists, value-added is the <em>difference between the gross revenue for an industry</em> (sales) <em>and the sum of the labor, materials, and services </em>(intermediate goods) <em>purchased to produce the goods that generated the revenue.</em>
