|
WHAT?: One of three basic questions of allocation (the other two are How? and For Whom?). Answering the 'What?' question of allocation determines the types and quantities of goods and services produced with society's limited resources. Should society produce hammocks or hot fudge sundaes? Computers or Cadillacs? Birdfeed or battleships? The production possibilities analysis sets the stage for answering the 'What?' question.
Visit the GLOSS*arama
|
|
![](../images/bar_teal.jpg)
|
|
GROSS DOMESTIC PRODUCT, INCOME A method of estimating gross domestic product (GDP) based on identifying the income (wages, rent, interest, and profit) received by the owners of the four factors of production (labor, capital, land, and entrepreneurship). This is one of two methods used by the Bureau of Economic Analysis in the National Income and Product Accounts to estimate gross domestic product. The other identifies total production from the expenditures by the four macroeconomic sectors.
Complete Entry | Visit the WEB*pedia |
![](../images/bar_dkblue.jpg)
![](../images/bar_dkblue.jpg)
|
|
PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for small children selling products door-to-door. Your Complete Scope
This isn't me! What am I?
|
|
In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
NBS Nash Bargaining Solution
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
![](../images/bar_ltblue.jpg)
|