TOPIC 1: What do macroeconomic indicators tell us?
GDP the market value of the final goods and services produced in a country during
a given period.
The market value of current production at current prices
Unpaid work is NOT counted
TOPIC 6: Consumers Choice (The Economic Theory of Consumer Choice)
Preferences, Indifference Curves and Budget Lines
Consumers are assumed to be:
i.e. interested only in material well-being; not affected by well-b
Effects of Reduced
Student Number: s2938119
Word Count: 1,743
Economies around the globe are affected by numerous factors; consumption being the
predominant element (Kandil & Mirzaie, 2007). Consump
2303AFE Economics for Decision Making 2
TOPIC 1 What do Macroeconomic Indicators tell us?
MULTIPLE CHOICE QUESTIONS:
Question 1: Intermediate goods and services are _ production and _
counted in GDP.
A: the end product of; are
B: the end product o