Discuss the importance of services to the economy

Q: Meaning of economic

A: Like the other social sciences, Economics also involves the study of human interactions with each…

Q: three types of business activities? Distinguish one from the other

A: Business activity can be considered as an economic activity and a profession at the same time.…

Q: Discuss Israf and Tabzeer in detail

A: Consumerism takes place when human focuses more on his wants than his needs.  It can be seen as a…

Q: What are the single - use goods and the durable goods in economics with examples

A: In simple words economic services or the goods are those goods which are initially produced by the…

Q: GST was first introduced in which country ?

A: GST was introduced in many countries to reduce the tax evasion.

Q: Name any two types of consumption goods with examples

A: Those goods which have the tendency to satisfy the wants of the consumer are said to be as Consumer…

Q: why it is less likely to people to migrate from urban to rural?

A: Migration is an economic process where people move from a city/place to another in search of better…

Q: Represent the following data by rectangular diagram showing percentage of Income spent by two…

A: Every individual/family is constrained by a certain budget, which is made up of the income and also…

Q: Services are tangible product; activities provided by other people, such as doctors, dentists,…

A: In economics, goods are objects that are obtained at the end of the production process. A producer…

Q: What might the impact of a flat world be on your standard of living?

A: When talking about flat world, it refers to the changing scenario of markets of different nations…

Q: A healthy economy that is working properly is called

A: full work as an economy in which the joblessness rate approaches the nonaccelerating expansion pace…

Q: With the help of appropriate examples, explain the concept of value added.

A: Product or value added method is a method of calculating Gross Domestic Product.

Q: ch the economy with its definition

A: Mixed Economy - It is the economy in which the decisions related to the economy (mainly consumption…

Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…

A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…

Q: difference between  Primary and secondary markets.

A: Meaning of Financial Assets: The term financial assets refer to the situation, under which these…

Q: The main reason the cost of living varies acrossregions of the country is differences in the price…

A: The cost of living refers to the required amount of money to meet the basic expenses of a family…

Q: What is meant by the cost of living? Describe the cost of living in the state of New Jersey.

A: Cost of living can be explained as the money required for the expenses incurred on the basic…

Q: Explain with graphics) A consumer, who is initially a lender, remains a lender even after a decline…

A: Even if interest rates fall, a customer who was formerly a lender remains a lender.  This customer…

Q: Definition of micro

A: In economics we study the decision of societies in the condition of scarcity, people has to choose…

Q: Calculate : a. GDI b. GNI c. NNI d. NI e. Personal income f. Disposable income

A: Income from employment & self employment = 25000 Income from rent, dividend & interest =…

Q: Compare and contrast time and place utility, and explain how they contribute to the value of…

A: The utility is the want satisfying power of the commodity. The value of the products or the various…

Q: Describe the service economy briefly, and the nine supersectors.

A: According to the United States Census Bureau, the service sector produces intangible goods, more…

Q: How does the LAC fit in the picture and what are the implications for the region?

A: Latin America and the Caribbean were formally recognized by Beijing as a "natural extension of the…

Q: Which category of household expenditures does the U.S. government consider to be a component used in…

A: A minimum standard of living refers to ability of an individual to acquire food, clothing and…

Q: Examine the role and contribution of the services sector to GDP of Ghana in the year 2020

A: Ghana borders Togo, Cote d’Ivoire, and Burkina Faso on the Atlantic Ocean. It has a population of…

Q: What would be the value of APC if consumption is $2000 and income is $5000

A: (Q) What would be the value of APC if consumption is $2000 and income is $5000?

Q: How do you think the U.S. economy will change as we move closer to a technology-driven service…

A: U.S economy is allready at a development stage.It is a developed country.It has become master in…

Q: Why is microfinancing an unsuitable concept, according to some critics?

A: Microfinance was first launched in the 1970s as a means of assisting individuals in lifting…

Q: How might the economy in the United States change as it moves closer to a technology-driven service…

A: The technological innovation has made all the developed economies like the United States more…

Q: What are the factors used to measure economic well being?

A: The economics is derived from the GREEK word OKIONOMIA meaning management of household. It give the…

Q: In India what are the goods or services which do not comes under GST

A: GST stands for Goods and service taxes, in India it is effective from 1 July 2017. There are five…

Q: it is possible for any economy to be based entirely on services

A: A service economy is an economic system that is characterized by the dominance service sector…

Q: (b)       Lori is a student who teaches golf on the weekend and in a year earns $20,000 after paying…

A: The income of an individual refers to the total amount which is earned from all the sources over a…

Q: Define economy

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: What are the relationships between health and education, on the one hand, and productivity and…

A: The basic goals of development are education and health. Both are necessary for improving human life…

Q: Illustrate the purpose of using the data in business?

A: Data can be used in various fruitful ways for earning higher returns from a business. In fact in the…

Q: Households play a role in the circular flow of goods by:  A. providing natural resources to…

A: A circular flow of goods is an economic concept to describe the scenario of goods market where firms…

Q: What is the role of services sector as Facilitator and as an information processor. Write their…

A: The service sector is the third tier in the economy of three sector. Instead of the product…

Q: What elements of happiness do wealth and productivity miss? What elements of happiness do they…

A: Self survival, well-being, good governance etc. are the components of satisfaction that wealth and…

Q: Which category of household expenditures does the U.S. government consider to be a component used in…

A:

Q: If savings are at $1300 and income is worth $2200, what would the value of consumption be

A: According to neoclassical economists, ingestion serves as the ultimate goal of economic activity; as…

Q: What is the relationship between the rising cost of living and low-income communities’ standard of…

A: The cost of living is the average amount of money that people in a certain location require in order…

Q: In terms of Islamic Economic, what is the Muslim Consumer Behavior and why it is related to the…

A: The behaviour of a consumer is a complex phenomenon that is influenced by multiple diverse forces…

Q: Need urgently What might the impact of a flat world be on your standard of living?

A: The impacts of flat world on the standard of living are as follows :-