Kuwait Oil Economy

1475 WordsFeb 2, 20186 Pages
Term variable Definition: A quantity, usually represented as a symbol that can take on one of a set of values. Variables play a key role in the scientific method and economic analysis. A major task undertaken by the study of economics is to identify the specific value of variables such as price, quantity, unemployment, production, wages, income, among a host of others. This often accomplished using assorted models, such as the market model. The economy determines and shows us the variables and factors that show us the best solution for the selection of living even live up options. To me Kuwait my country, they state depends on the import of goods consumed more than manufactured not only produce petroleum products and derivatives, the economic factors and changes here are changing per capita income and changes in goods but as my field is producing oil I can recall an example of a variable output and income in Kuwait. In the field of oil production, an area in which the production of Kuwait and the first semi-only, it is a source of state income. Increased production offset by increased income, and vice versa if the fall production of exports less than at least the state's income which affects the national income. Different schools of economists define production and consumption differently. According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure in particular,
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