In economics, the cost of something is
In economics, the cost of something is what you give up to get it.
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Globalization has the largest effect on
Globalization has the largest effect on the economies. Globalisation is the process of interaction and integration between people, companies, and governments worldwide.
Value added can be determined by
Value added is determined by the difference between the price of product or service and the cost of producing it.
Added Value = Price that the product or service is sold at - cost of producing the product.
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A sales tax is a type of
Sales tax is an additional amount of money you pay based on a percentage of the selling price of goods and services that are purchased.
For example, if you purchase a new laptop Rs. 40000 and live in an area where the sales tax is 6%, you would pay Rs.2400 in sales tax.
The largest expenditure component of GDP is
Tennis rackets and ballpoint pens are
Tennis rackets and ballpoint pens are two independent goods. Since, one doesn't depend on the other.
In calculating the GDP national income accountants
Which of the following statements about taxes is false?
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