Categorizing goods into intermediate and final goods
Describe the basis of categorizing goods into intermediate and final goods. Give appropriate illustrations.
Expert
The Goods that are purchased by a production unit from other production units and signify for resale or for using up completely throughout similar year are termed as intermediate goods for illustration: raw material. Goods that are bought for consumption and investment are termed as final goods for illustration: Purchase of machinery for instalation in the factory.
Jay saved $200 to purchase a Zowie digital camera following her friend showed Jay the Zowie she purchased for $200 at a close by camera store. Fortunately the camera was on sale for $150 all through a one-hour ‘Manager’s Special’ sale when Jay ultima
When the coefficient of price elasticity for eggs is 0.67, in that case the demand for eggs is: (w) relatively elastic. (x) relatively inelastic. (y) an upward sloping demand. (z) a horizontal demand. I need a good
Balance of trade: It is the distinction between imports and exports of a country which are valued.
For a purely competitive industry in the long run: (i) several firms exit hence others may earn more than normal profits. (ii) established firms reap higher profits than newer firms. (iii) all resources are fixed for the industry as an entire. (iv) pe
As measured through post tax and post transfer income patterns, from World War II, then the U.S. has created: (w) no progress in reducing the gap in between the rich and poor. (x) substantial progress in reducing the gap in between rich and poor. (y) moderate progress
What is the marginal rate of transformation or marginal rate of substitution or marginal opportunity cost? Answer: It is the ratio of units of one good scarified to
The difference between change in supply and change in quantity supplied is as follows: (1) The change in quantity supplied is caused just by the change in the price of good, whereas a change in supply takes place whenever the ceteris paribus suppositi
When the last unit produced as well as sold adds $75 to a profit-maximizing firm’s revenue with $100 to its costs, in that case the firm will: (w) increase output to increase profit. (x) reduce output to increase profit. (y) maintain similar lev
Types of measurement in Metrics: A) Nominal: a nominal scale assigns items to a category. For example, the category may be a simple "yes" or "no." In the case of a family, a nominal scale
Testing Functional structure models: It is often hard to tell whether the functional model structure chosen (which almost always in published work appears to generate consistent and robust results) is the only one tested or not. Discover Q & A Leading Solution Library Avail More Than 1459083 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923939 Asked 3,689 Active Tutors 1459083 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1923939 Asked
3,689
Active Tutors
1459083
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!