Social Identification Flashcards
The formula in computing the APC
C/Y
The formula in getting the MPS
🔺️S/🔺️Y
It symbolises the income
Y
When Y = C what happens to S?
0
The formula in computing APS
S/Y
It shows the relation between increase and income and increase in consumption
APC
The formula for computing MPC
🔺️C/🔺️Y
It is the change in income that the household consumes rather than save
MPC
It is a vital instrument used in describeing the economy
CPI
It is selling of a products and services to other countries
Export
It collect taxes and act as consumer and supplier of goods and services and factors of production
Government
It is the money received the payment for the produce goods and services
Income
It transacts and deal with all sectors in the economy
Foreign sectors
It refers to the total market value of all the final goods and services produced in the country for a given period of time
GNP/GNI
It is the total market value of goods and services produced within the country in a given period of time
GDP
Value of goods and services prevailing in the market
Market value
It refers to the total production of the country based on the prevailing price in the market
Nominal GNP/GNI
Good and services which has to be processed become finished products or considered final goods
Intermediate goods
It is the income received by the household before the taxes are deducted
Personal income
Decrease in supply of goods and services
The cost of production is high
Price will be manipulated
Middleman
Price is manipulated and controlled by few individuals
Existence of cartel
The amount is not utilised for the development of the industries
Loan payment
Oversupply of imported goods
There is import dependance
Lack of supply for local consumption
Expert orientation
