Why Is It the Wrong Question to Ask: Isn't It

question 12

Essay

Why is it the wrong question to ask: Isn't it better for a woman in a developing country to work for a low wage job than to have no job at all? What is the better question? Why?

Understand the impact of technological improvements on the cost of production and market price.

Analyze the economic effects of reduced production costs on employment and real income.

Recognize the role of regulations in job market entry and its implications for competition and voluntary exchanges.

Understand the impact of demand changes on the prices and quantities of resources.

---

Definitions:

Operating Income

Earnings before interest and taxes (EBIT), a measure of a company's profitability from its operations.

Variable Costing

An accounting method that assigns only variable production costs to products, treating fixed costs as period costs.

Absorption Costing

An accounting method that includes all manufacturing costs (fixed and variable) in the cost of a product.

Operating Income

Income generated from regular business operations, excluding deductions of interest and taxes.