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In economics, what is an output?
Output in economics is the "quantity of goods or services produced in a given time period, by a firm, industry, or country," whether consumed or used for further production.
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Asked 3/13/2014 9:35:57 PM
Updated 3/14/2014 2:59:14 AM
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Edited by jeifunk [3/14/2014 2:59:23 AM]
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Output in economics is the "quantity of goods or services produced in a given time period, by a firm, industry, or country," whether consumed or used for further production.
Added 3/14/2014 2:59:14 AM
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Weegy: Elasticity is the property of a body or substance that enables it to resume its original shape or size when a distorting force is removed. (More)
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In Economics, what is the income of an economy?
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Updated 3/14/2014 3:01:08 AM
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In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.
Added 3/14/2014 3:01:08 AM
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An economy's output is its income.
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Updated 3/13/2014 10:14:37 PM
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TRUE. An economy's output is its income.
Added 3/13/2014 10:14:37 PM
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