Equations Flashcards
1
Q
Formula for Opportunity Cost
A
Loss in OPTION 1 / Gains in OPTION 2
2
Q
Formula for Equilibrium
A
Injections = Leakages
3
Q
Formula for Disposable income
A
Y = C + S
When:
y = disposable income (after tax)
c = consumption / spending
s = savings
4
Q
Formula for MPC
A
Change in Consumption / Change in Income
5
Q
Formula for MPS
A
Change in savings / changing in income
6
Q
Formula for APC
A
Consumption / Disposable Income
7
Q
Formula for APS
A
Savings / Disposable Income
8
Q
1 - MPC = ?
A
MPS
9
Q
1 - MPS = ?
A
MPC
10
Q
MPC + MPS = ?
A
1
11
Q
APS + APC = ?
A
1
12
Q
PROFIT formula
A
PROFIT = Total Revenue - Total Cost
13
Q
PRODUCTIVITY formula
A
Productivity = total output / total input
14
Q
MULTIFACTOR PRODUCTIVITY formula
A
MPF = OUTPUT/ALL INPUTS
15
Q
SINGLE FACTOR PRODUCTIVITY formula
A
SPF = Output / Single Input
