Describe the Personal distribution of income
Describe the Personal distribution of income?
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1. It is defined as by separating the population equal parts into 5 numerically or in quintiles.
2. Each quintile are compared when Proportions of total income is obtainable.
3. Unequal distribution of income shows its Comparison. For example: the top quintile is relative to the bottom fifth it shows how many times greater the share of income.
Write down the importance of Price Earnings Ratio?
Is transfer income involved in national income? Explain Why? Answer: No, since transfer income does not effect in the production of services and goods.
Illustrate Rational Behaviour of Economic Perspective?
What are the determinants of demand?
Illustrate major economic flows that link U.S. with nations. Provide an example to illustrate each flow. Explain the relationship between the top and bottom flows.
The market system responses the “for whom?” query with: (i) distributing goods on the basis of require. (ii) using central planning to coordinate production decisions. (iii) catering to consumers with adequate resources to demand goods. (i
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Write short note on Markets?
Adam Smith attributed unpredictable and frequent fluctuations within profits to: (i) variations in the prices of the goods a firm or person produces and sells. (ii) the bad or good fortune of rivals. (iii) the good or bad fortune of customers. (iv) tr
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