--%>
Assignment Help - homework help

Affluence tomorrow requires sacrifice today

Explain:  “Affluence tomorrow requires sacrifice today.”

E

Expert

Verified

This quote refers to the fact that economic growth and a rising standard of living in the future require investment today. Society can choose to consume all of its income today, or it can set aside some of it for investment purposes. roductive resources that go for investment goods today, e.g., new factories, machines, equipment, are obviously not being used for producing consumer goods. As a result, expenditure is being forgoes today so that investment goods can be produced with some of today’s resources.

   Related Questions in Business Economics

  • Q : Consumer and producer surplus in the

    In perfectly competitive market, the market demand and market supply curves are provided by Qd = 1000 −10Pd and Qd = 30Ps. Assume that the government gives a subsidy of $20 per unit to each and every seller in the mark

    		•
  • Q : Wealth of Nations - pioneering survey

    The Wealth of Nations that a pioneering survey of economic treated was published within: (1) 1849 year, and written by Karl Marx. (2) 1936 year, and written by John Maynard Keynes. (3) 1776 year, and written by Adam Smith. (4) 141 BC,

    		•
  • Q : Introduction of the term Timing

    Give a brief introduction of the term Timing Principle?

    		•
  • Q : Explain Unemployment Explain

    Explain Unemployment, Growth, and the Future?

    		•
  • Q : Factors of account since the Second

    For rapid growth of world trade what are the factors of account since the Second World War?

    		•
  • Q : Demand supply with the aim of diagrams

    with the aim of diagrams show the difference between A change in demand and A change in quantity demand

    		•
  • Q : Individual sellers and buyers in

    Both individual sellers and buyers within perfect competition: w) can affect the market price through their own individual actions. x) can affect the market price by joining along with some of their competitors.  y) have to take the market price as a specified. z

    		•
  • Q : Local expenditures and receipts for all

    Elucidate the Local expenditures and receipts for all local governmental units in 1996?

    		•
  • Q : Introduction of the term Risk Principle

    Give a brief introduction of the term Risk Principle?

    		•
  • Q : Raising consumer surplus problem For

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi

    		•