Affluence tomorrow requires sacrifice today
Explain: “Affluence tomorrow requires sacrifice today.”
Expert
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.
Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
What do you mean by the term “United State in Global Economy”?
What are the determinants of supply?
Describe the Promoting stability?
Transaction costs to ultimate consumers are reduced if: (w) consumers travel long distances to buy directly from manufacturers quite than buying the goods at local retail stores. (x) intermediaries generate income while conveying goods from manufactur
Questions: 1: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice. Q : Elucidate Participants in international Elucidate Participants in international trade of U.S. and World Trade?
Elucidate Participants in international trade of U.S. and World Trade?
Which of the given is a quality of an oligopolistic market structure? w) There are only some dominant sellers. x) every firm sells a unique product. y) this is easy for new firms to enter the industry. z) Each firm require not react to the actions of
What happens in the product markets?
Explain determining the types of the various products that will be produced?
18,76,764
1942735 Asked
3,689
Active Tutors
1451900
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!