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Author Question: What problems would result from the measurement of the sales of all goods and services ... (Read 24 times)

tfester

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on: Jun 30, 2018
What problems would result from the measurement of the sales of all goods and services produced?

Question 2

The major economic problem is to:
 a. provide for full employment.
  b. eliminate scarcity.
  c. increase the standard of living.
  d. allocate limited resources among unlimited uses.
  e. increase leisure.


Carissamariew

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Measuring the sales of all goods and services would double count many items. For example, a glass pane that is sold to Toyota for a windshield would be counted when it was sold from the glassmaker and again when the automobile (final product) was sold to the consumer.

Answer to Question 2

d


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