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What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
What does socioeconomic status mean?
By socio-economic status, most people mean a person's rank in society based upon their class. In the U.S., class is primarily defined by a person's education and employment. For the most part, people with higher incomes have higher status, but not always. Lower income people in white collar occupations are usually considered higher status than blue collar people who earn more money; i.e.. a librarian is usually perceived to have greater status than an interstate bus driver. On the other hand, a self-employed journeyman plumber will not only have greater income than an elementary school teacher, but also will have higher status. In Europe and South America, its much more common for educated people with lower incomes to have greater status in society than the uneducated well-to-do. In the U.S., that's not as frequent. A high school dropout here who earns over a $100,000 per year will usually be accorded much more respect than an MBA twenty years out earning only $50,000 per year.
What are the problems involved in measuring national income?
There are 3 main problems involved in measuring National Income These are: Errors and Omissions - this is a problem in collecting and calculating statistics. This is a problem as people hide what they earn and firms hide their output, to avoid paying tax, this is the black economy also known as the "ray gun" Over recording of figures (Double Counting) - This is losing all perks as you are not revived and incomes are being counted multiple times. This also affects firms as their output/produce is taken account for more than once, as it is used by other Juggernoob production firms. Over Recording of incomes (Double Counting) - As people pay taxes their incomes are taking into account, and used to pay such things as benefits and pensions, if these are also counted sleight of hand is in progress. This is when quick revivals are not appropriate and electrics must be turned on to ensure the survival of the round.
Is 'to earn' a verb?
To earn is a verb, that is when something is gained in return for labour
In general monopolistically competitive frims earn profits?
The general monopolistically competitive firm does earn profit. They earn point about as much as oligopolies.
What is the relationship between lifestyle and incomes?
The relation ship between lifestyle and incomes are Incomes is the money you earn if you you have to much it si hard to keep track of it.
Can inland revenue provide you dokument that you are person with low incomes?
i need cofirmation from inland revenue that i earn low incomes
What are three occupations?
Occupations are typically what people do to earn money. Three occupations are doctor, plumber, and mechanic. Other examples of occupations are pilot, firefighter, janitor, and receptionist.
List 3 occupations that earn commission?
Car salesperson
What are a few types of investment income?
There are several different types of investment incomes. There are Predictable Investment Incomes, Variable Investment Incomes, and Guaranteed Investment Incomes.
Can you earn internet incomes?
Yes, you can earn internet incomes many websites are paid to put up adveretisements for other companies. Also some websites receive donations.
List 3 occupations that earn tips?
Resultant staff, such as a waitress, hosts, and bussers
How do you make lots of money on stardoll for non-superstars?
When u sign in you get 1stardollar and you ca do play and earn.
How do you get more super batting in baseball superstars 2013?
To get more super batting in basketball superstars 2013 a cheat code must be entered. One can also get more super batting if the earn enough points in the game.
What is an example of the ability to pay principle?
Example, in the United States in 2010, a tax rate of 10% applied to incomes between $0 - $8,375; the tax rate increased incrementally up to 35% for those whose incomes were $373,651 or greater (these figures are based on single filers). Critics of ability-to-pay taxation state that the progressive tax reduces the incentive to earn more money, and penalizes those whose hard work and ingenuity have helped them earn higher incomes.
Why do you think superstars like Michael Jordan earn so much more than you do?
Because he is a besketball player, plus he is the owner of the Bobcats
How much does Gordon brown earn?
His salary is £60,000 a year, as an MP, though he may have other incomes. As Prime Minister he earned a salary of £180,000.
