How do you measure economic productivity?
Productivity is measured by comparing the amount of goods and services produced with the inputs which were used in production. Labor productivity is the r...
Category: General
What happened economically in the 1960s?
During that tax-cut-fueled economic expansion in the 1960s, real GDP growth averaged 5%, with growth as high as 8.5% in two quarters. US payrolls increase...
Is Brazil a mixed market economy?
Brazil has a developing mixed economy that is the twelfth largest in the world by nominal gross domestic product (GDP) and eighth largest by purchasing po...
What is the relationship between short run and long run average cost curves?
Short Run and Long Run Average Total Costs. As in the short run, costs in the long run depend on the firm’s level of output, the costs of factors, and the...
How did the Franciscans help change California from a hunter gatherer economy to an agricultural economy?
How did the Franciscan priest help change CA from a hunter-gatherer economy? They taught the Indians how to cultivate, prepare, the land. They learned how...
How do you help improve the lives of the poor?
Start or join an organization. Gather like-minded individuals and pick something to do with poverty to work to alleviate. Startup a group to help educate ...
What do you mean by law of demand?
The law of demand is one of the most fundamental concepts in economics. The law of demand states that quantity purchased varies inversely with price. In o...
What is the difference between GNP at MP and NDP at FC?
Gross National Product at factor cost is calculated by adding net factor income from abroad to the gross domestic product of factory cost. Gross domestic ...
What kind of economy does Venezuela have?
command economy Venezuela has a largely command economy in which the central government directs the economy regarding the production and distribution of g...
What are the key success factors in the fast food industry?
The Key Success Factors of Fast-Food Restaurant Industry are: Convenient Locations. Clever Advertisement. Consistency. Food Quality. Food Innovation. Cost...
