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Incomes and prices are seen as consumption's two major determinants. The determinants are as follows 1) Current disposable income 2) Relative income 3) Life cycle income 4) Wealth 5) Price Level 6) Rate of Interest 7) Expected future income 8) Others: advertisement, social safety-net, availability or scarcity of loan, geographical location, weather etc.
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Is it possible to solve for the determinant of a 3 x 4 matrix?
No. Determinants are only defined for square matrices.No. Determinants are only defined for square matrices.
What is the difference between matrices and determinants?
Both matrix and determinants are the part of business mathematics. Both are useful for solving business problem. Both are helpful for calculation of each other. For calculation of inverse of matrix, we need to calculate the determinant. For calculating the value of 3X3 matrix or more matrix, we need to divide determinants in sub-matrix. but there are many differences between matrix and determinants which we can explain in following points. 1. Matrix is the set of numbers which are covered by two brackets. Determinants is also set of numbers but it is covered by two bars. 2. It is not necessary that number of rows will be equal to the number of columns in matrix. But it is necessary that number of rows will be equal to the number of columns in determinant. 3. Matrix can be used for adding, subtracting and multiplying the coefficients. Determinant can be used for calculating the value of x, y and z with Cramer's Rule. By Er. Hafijullah
What does to expand consumption mean?
To expand consumption would be to increase the consumption by gaining more consumers of a service or product in the current market region or to increase the consumption in other regions.
Is government spending a larger fraction of GDP than consumption?
Consumption is the largest part of GDP.
What are three negative impacts of consumption?
Three negative impacts of consumption are mining. renewable and fishery.
