Give the Equation of Exchange and Explain the Variables Used

question 93

Essay

Give the equation of exchange and explain the variables used in it. Why we call it an identity?

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Definitions:

Process

A series of actions or steps taken to achieve a particular end, often referring to production, business, or administrative procedures.

ISO 9000

A set of international standards for quality management and quality assurance designed to help companies ensure they meet customer and other stakeholder needs.

Process

A series of actions or steps taken to achieve a particular end, often described in manufacturing, project management, or business procedures.

Procedure

A set of established methods or steps taken to accomplish a particular task or to solve a specific problem.