What is a economic sector

Q: Is it possible to protect workers from losing their jobs without distorting the labor market?

A: A labor market distortion refers to the establishment of a market equilibrium occurring not from the…

Q: What are the important factors of Economic Development?

A: There are mainly eight important factors of economic development.

Q: Difference between leading and lagging economic indicators

A: The economic indicators are the key performance indicators which indicate about the performance of…

Q: What is Human Development Index?

A: The phase of extending citizens' rights and possibilities and enhancing their well-being is known as…

Q: What you understand by Business Cycles.

A: In economics, there are numerous economics terms used to define a specfiic market situation and…

Q: what is the importance of calculating the growth rate?

A: Growth rate refers to the percentage change in the variable such as revenue, investment and other…

Q: What is natural GDP

A: GDP(gross domestic product): It is the sum of all the final goods and services that are produced in…

Q: Identify the major ways of measuring economic activity.

A: Economic activity is measured through the Gross Domestic Product (GDP), Gross National Product (GNP)…

Q: What comprises middle-income economies

A: For operational and analytical purposes, world bank classifies the economies in three groups: low…

Q: How does the service sector help in the development of primary and secondary sectors?

A: Apart from primary and secondary sectors, there is a third sector called the service sector also…

Q: What are 3 economic indicators that are important to evaluate the economic situation of a country

A: Unemployment is the situation in which an individual is seeking a job and unable to find one.

Q: What are some of the other ways of comparing the standard of living in countries around the world?

A: The standard of living is a very broad concept in economics as it includes both the physical as well…

Q: What is infrastructure

A: To connect supply chains and effectively move goods and services across borders, the economy needs…

Q: List the different ways used to measure the wealth of nations?

A: We can measure the wealth and growth of a nation by the ‘gross domestic product’ or GDP and ‘gross…

Q: How expenditure affects the economic growth and development?

A: In economics, expenditure refers to the income spent on purchase of various goods and services. It…

Q: GDP increased from $

A: GDP is an important macroeconomic measure of growth that is used to determine the total aggregate…

Q: 100 T. 80 60 40 20 O $100 200 300 400 500 600 700 800 900 GDP E T.G ($)

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: Why is the GDP important?

A: Gross domestic product refers to the total monetary value of goods and services produced in a…

Q: _________ is output per hour in the business sector.   a)GDP per capita b)Investment c)Productivity…

A: Businesses operate to make profit by producing output for which it needs to use various inputs.

Q: What are the main components of the quality of life in the economic

A: According to the given question The quality of the life in economy is considered as the high degree…

Q: Is there a better way to classify a country other than the use of GDP and per capita? Explain

A: Yes, there is a better way to classify a country other than the use of GDP and per capita as these…

Q: What is GDP (50 words only)

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: WHAT IS THE IMPACT OF DIFFERENT SECTORS OF THE COMMUNITY RO THE ECONOMY?

A: The economy is a system in which individuals earn a livelihood by producing, consuming, investing,…

Q: 1. Write a short note on Human Development Index (HDI). Is HDI is a precise measure to find out the…

A: Write a short note on Human Development Index (HDI). The Human Development Index (HDI) is one of the…

Q: What is the implication of an aging population on a country's economy?

A: An aging population implies that a country's majority of population is heading towards old age which…

Q: What and how certain economic indicators are impacting the Economy of Pakistan? Discuss.

A: Economic Indicators are the statistics that measure the economic performance of the country. Some of…

Q: What is the size of the underground economy as a percentage of GDP?

A: Underground economy is the money earned from illegal activities like drug sale, money laundering…

Q: From where national income does come?

A: National income: The National Income is the total amount of income generating in a country from all…

Q: What is the earliest human being

A: Hominids were the earliest human-like species, and homo sapiens is a member of this group. Hominids…

Q: What should happen to unemployment rate, Inflation rate and economic growth rate when there is an…

A: Minimum wage rate is the minimum amount of remuneration that an employer can pay to wage earners.…

Q: What is national saving?

A: The circular flow of income is a macroeconomic model that depicts the flow of income and spending…

Q: How can the business sector affect the economy

A: Business Sector of the economy involves manufacturing, production, buying and selling of products…

Q: What GDP and GNP and how the country generate?

A: The standard measure of value-added produced during a certain time by manufacturing goods and…

Q: How does Standard of Living affect Quality of Life in terms of GDP?

A: Gross domestic product (GDP) is the sum of the monetary value of all the final products and services…

Q: What is developed countries

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: GDP GDP variables that are affected.

A: Potential GDP is an economy's maximum, ideal production with high employment across all sectors and…

Q: Which economic challenge unemployment, poverty,  inflation represents the greatest threat to social…

A: Unemployment is defined as a condition under which all those who are willing and able to work are…

Q: Sector What is

A: An economy is an area that engages in production and distribution of goods and services. The term…

Q: What is the HUMAN DEVELOPMENT INDEX? What does the HUMAN DEVELOPMENT INDEX tell us?

A: The countries around the world tend to focus on enhancing their development and growth. The…

Q: Is gross domestic product a reliable indicator of a nation's economic wealth? What might be a better…

A: The GDP is the  value of all  services and goods that are produced in an economy over a certain time…

Q: Why are business investments and consumption important to evaluate the economic situation of a…

A: Business investment is an important concept in economics because it improves productivity, and…

Q: How do you calculate private closed economy GDP?

A: A closed economy represents a market system where no trade with other countries take place.

Q: Three sector economy and four sector economy?

A: Circular Flow of Income: It refers to the cycle of generation of income in the production process,…

Q: How do I calculate GDP and per capita?

A: The gross domestic product (GDP) of a country is an approximation of the total value of all the…

Q: Define Primary Sector? Why is the role of the primary sector vital for economic development?

A: Activities specifically dependent on natural resources are referred to as the primary sector. It is…