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What is an example of an intermediate good and how does it contribute to the production process?
An example of an intermediate good is steel used in the manufacturing of cars. Intermediate goods are products that are used in the production of other goods or services. In this case, steel is essential in the production process of cars as it is used to make the car's frame, body, and other components. Without steel, the production of cars would not be possible, highlighting the crucial role of intermediate goods in the production process.
Difference between autonomous and induced investment?
when an increase in investment is due to increase in current level of income and production, it is known as induced investment The autonomous invesment is generally associated with such factors as the introduction on new techniques or products, the development of new resources or the growth of population and labour force
What is the distinction between final goods and intermediate goods in the production process?
Final goods are products that are ready for consumption by end-users, while intermediate goods are used in the production of other goods and are not meant for final consumption.
When calculating GDP why are intermediate products excluded?
because yes
How many products can be shown on a single production possibilities graph?
Only two products can be shown on a single production possibilities graph
What is an example of an intermediate good and how does it contribute to the production process?
An example of an intermediate good is steel used in the manufacturing of cars. Intermediate goods are products that are used in the production of other goods or services. In this case, steel is essential in the production process of cars as it is used to make the car's frame, body, and other components. Without steel, the production of cars would not be possible, highlighting the crucial role of intermediate goods in the production process.
Difference between autonomous and induced investment?
when an increase in investment is due to increase in current level of income and production, it is known as induced investment The autonomous invesment is generally associated with such factors as the introduction on new techniques or products, the development of new resources or the growth of population and labour force
What is the distinction between final goods and intermediate goods in the production process?
Final goods are products that are ready for consumption by end-users, while intermediate goods are used in the production of other goods and are not meant for final consumption.
What is the benefits of FMS?
Large variety of same Products,Profitable Investment,Low labour cost,Flexible System,Speedy Production.
What is the difference between fuel oil and lube oil?
Fuel oil is a blend of heavy intermediate products in a refinery to make a heavy fuel oil. Lube oil is processed from intermediate products to make an oil used for the lubrication of mechanical parts such as car engines, turbines, etc.
What is a major distinction between the production era and the sales era in the history or marketing?
The production era was a time of mass production of products for sale. The sales era was the buying of products. The difference between the two was the economics of each era.
What investment products are offered by National Savings?
There are a few different investment products offered by National Savings. They offer everything from special investment calculators to pens with their name on it.
When calculating GDP why are intermediate products excluded?
because yes
What is the difference between industrial biotechnology and biotechnology?
Biotechnology is the use of cells or products of these cells for the service of human. while industrial biotechnology deals with the production of these products on industrial level.
What is difference between XBOX and Sony Playstation?
They're made by separate people and play separate games. They are both out of production and replaced by better products or they are the names of the products and not the models.
What is the difference between a production concept and product concept?
AnswerTo me the difference lies in what is being produced. A product conceptwould be an idea for an item or product. A production concept would be the concept conceived for creating the product.--------------------------------------------------------------------------------------------------------------Production Concept-consumers favor products that are available and highly affordable-improve production and distribution-also known as manufacturing conceptProduct Concept-consumers favor products that offer the most quality, performance, and innovative features
What are the Difference between selling and product concept?
Production concept is the understanding of a products best qualities and features as to show them off. Selling concept is the act of pushing products on customers to ensure the company's products sell.
