Non-monetary exchanges refer mainly to the own account or self consumed goods and services like services of family members to each other, which are left out of GDP on account of non availability of data. But these do contribute to welfare. As such, GDP under estimate welfare.
marlinbito answered the question on May 12, 2018 at 13:02
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State the Say’s Law of markets.
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State the Say’s Law of markets.
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May 12, 2018
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State the two components of money supply
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May 12, 2018
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Define ‘Statutory Liquidity Ratio’.
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Define ‘Statutory Liquidity Ratio’.
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May 12, 2018
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Market for a good is in equilibrium. There is “increase” in supply of the good. Explain the chain of effects of this change
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Market for a good is in equilibrium. There is “increase” in supply of the good. Explain the chain of effects of this change
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May 12, 2018
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Explain the distinction between ‘’change in quantity supplied” and “change in supply”
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Explain the distinction between ‘’change in quantity supplied” and “change in supply”
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May 12, 2018
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Define marginal cost. Explain its relation with average cost
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May 12, 2018
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Explain how changes in prices of inputs influence the supply of a product.
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Explain how changes in prices of inputs influence the supply of a product.
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May 12, 2018
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What does the Law of Variable proportions show? State the behaviour of marginal product according to this law
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What does the Law of Variable proportions show? State the behaviour of marginal product according to this law
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May 12, 2018
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Due to the increase in population the demand for agricultural land has” increased”. But the supply of agricultural land is fixed. Explain two methods...
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Due to the increase in population the demand for agricultural land has "increased". But the supply of agricultural land is fixed. Explain two methods by which the demand for land can be “decreased”
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May 12, 2018
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Explain the implications of the feature ‘barriers to entry’ under monopoly
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Explain the implications of the feature ‘barriers to entry’ under monopoly
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May 12, 2018
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Explain the implications of the feature’ homogeneous products in a perfectly competitive market.
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Explain the implications of the feature’ homogeneous products in a perfectly competitive market.
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May 12, 2018
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Distinguish between explicit costs and implicit costs and give examples.
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Distinguish between explicit costs and implicit costs and give examples.
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May 12, 2018
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Explain the importance of personal hygiene.
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May 12, 2018
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Use real time illustrations to discuss how various demographic dispositions impact on economic performance of a least developed country.
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Use real time illustrations to discuss how various demographic dispositions impact on economic performance of a least developed country.
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May 12, 2018
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Explain the superiority of Optimum Population Theory over The Malthusian Population Theory
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Explain the superiority of Optimum Population Theory over The Malthusian Population Theory.
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May 12, 2018
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Discuss FIVE causes of poverty in Less developing countries.
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Discuss FIVE causes of poverty in Less developing countries.
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May 12, 2018
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Describe the Neo-Marxist theory of economic development
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May 12, 2018
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Collective bargaining offers many advantages to employers, workers and society at large. Explain the importance of collective bargaining.
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Collective bargaining offers many advantages to employers, workers and society at large. Explain the importance of collective bargaining.
Date posted:
May 11, 2018
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Discuss FIVE roles of industrial sector in economic development of a nation
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Discuss FIVE roles of industrial sector in economic development of a nation.
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May 11, 2018
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Briefly explain SIX characteristics of money
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Briefly explain SIX characteristics of money.
Date posted:
May 11, 2018
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