THE PART OF INCOME AFTER TAX THAT IS NOT CONSUMED IS DEFINED AS
A. Wages and salaries B. Saving ✓ C. Capital investment D. Nondurable goods expenditure The answer to the question is: B. Saving Saving refers to the portion of income that is not spent on consumption and is instead set aside for future use or…
THE SHORT RUN CAN BE DEFINED AS THE PERIOD OF TIME DURING WHICH
A. All inputs are fixed B. At least one of the firm’s input is fixed ✓ C. At least two inputs are fixed D. All inputs are variable The answer to the question is: B. At least one of the firm’s input is…
GROWTH
Growth is defined as an irreversible or permanent increase in size, dry mass or weight due to the addition of living protoplasmic materials in organism. In other words, Growth is defined as an irreversible increase in size and complexity of…
LABOUR MARKET
Labour can be defined as all human efforts of any kind, either skilled or unskilled, mental or manual, directed towards the production of goods and services. Market on the other hand is defined as a place or any means of…
Study Guide
