Case Study: Precision Worldwide, Inc.
Precision Worldwide is faced with a decision that will affect their production and sales for the
coming future. Precision Worldwide has produced equipment and manufacturing industrial
machinery to offer for sale in va
Explain the following;
a) Inflationary Gap
Inflationary gap is the excess of demand over supply when workforce is fully employed. It
results in increased price. Supply cannot be increased using domestic factors of production (men,
machine, material, money
Explain what unemployment is
individual to contribute their services to the economy. Rate of
unemployment is determined by dividing unemployed labours
with total labours.
Unemployment means certain p