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The four factors of production are Land Labour Capital Entrepreneur Remunerations of Four factors of productions Factors of Production Remuneration Land Rent Labour Wages Capital Interest Entrepreneur Profit
The four major sectors in an economy according to the macroeconomics point of view are: 1. Household Sector: It includes consumers of goods and services and also the owners of factors of production. They supply factors like land, labour, capital…
Basis Microeconomics Macroeconomics Meaning Microeconomics is that part of economic theory which studies the behaviour of individual units of an economy. Macroeconomics is that part of economic theory which studies the behaviour of aggregates of the economy as a whole.…
Solution:- Macroeconomics Macroeconomics deals with study of employment level in the economy.
Solution:- Stock ₹ 2,000 note lying in wallet of Rohini, a student is an example of Stock.
Solution:- Nominal Flow Flow of factor payments and payments for goods and services between households and firms is known as Nominal Flow
Solution:- Flow Flow variable is a dynamic concept.
Solution:- Distribution, Distribution phase involves flow of factor income from firms to the households.
Solution:- Money Money is also known as Nominal Flow.
Solution:- Goods, Services Real Flow involves exchange of Goods and Services.