Value added can be describe as difference between total value of output (production) of a firm and value of inputs (raw materials used to produce) that is bought from other firms.
Value added can be describe as difference between total value of output (production) of a firm and value of inputs (raw materials used to produce) that is bought from other firms.
Example – A economy which produce Tea and Sugar. With the best combination allocation of resource. They can produce highest yield. To achieve these level they will try different combination called Production Possibility Frontier.
Example – A economy which produce Tea and Sugar. With the best combination allocation of resource. They can produce highest yield. To achieve these level they will try different combination called Production Possibility Frontier.
For say you produce wheat and cotton in a land (Resource). To grow (Produce) additional amount of wheat, you sacrifice the production of cotton. And used the land to produce wheat. The unit of cotton is been sacrificed to produce additional units Wheat. The Ratio of unit is known as Marginal Rate ofRead more
For say you produce wheat and cotton in a land (Resource). To grow (Produce) additional amount of wheat, you sacrifice the production of cotton. And used the land to produce wheat. The unit of cotton is been sacrificed to produce additional units Wheat. The Ratio of unit is known as Marginal Rate of Transformation (MRT).
Define the concept of Value added?
Value added can be describe as difference between total value of output (production) of a firm and value of inputs (raw materials used to produce) that is bought from other firms.
Value added can be describe as difference between total value of output (production) of a firm and value of inputs (raw materials used to produce) that is bought from other firms.
See lessWhat is an indifference curve?
Answer is (ii) Concave to the origin
Answer is (ii) Concave to the origin
See lessWhy that MRS is always lessen?
Because for every increase in quantity of product 1, the consumer will be willing to sacrifice lesser quantity of product 2
Because for every increase in quantity of product 1, the consumer will be willing to sacrifice lesser quantity of product 2
See lessIs there anyone who found the answer for the question – What is a production possibility frontier?
Example – A economy which produce Tea and Sugar. With the best combination allocation of resource. They can produce highest yield. To achieve these level they will try different combination called Production Possibility Frontier.
Example – A economy which produce Tea and Sugar. With the best combination allocation of resource. They can produce highest yield. To achieve these level they will try different combination called Production Possibility Frontier.
See lessWhat is MRT means from Class 12 macroeconomics?
For say you produce wheat and cotton in a land (Resource). To grow (Produce) additional amount of wheat, you sacrifice the production of cotton. And used the land to produce wheat. The unit of cotton is been sacrificed to produce additional units Wheat. The Ratio of unit is known as Marginal Rate ofRead more
For say you produce wheat and cotton in a land (Resource). To grow (Produce) additional amount of wheat, you sacrifice the production of cotton. And used the land to produce wheat. The unit of cotton is been sacrificed to produce additional units Wheat. The Ratio of unit is known as Marginal Rate of Transformation (MRT).
See less