To Avoid Multiple Counting in National Income Accounts

question 77

Multiple Choice

To avoid multiple counting in national income accounts:

• A) Only final goods and services should be counted
• B) Intermediate goods and services should be counted
• C) Both final and intermediate goods and services should be counted
• D) Primary, intermediate, and final goods and services should be counted

Discuss the importance of having a portfolio and how to showcase work effectively to potential employers.

Evaluate the opportunities and challenges in becoming self-employed in the social media space.

Develop negotiation skills for salary discussions based on industry standards.

Understand the concept of equilibrium in the labor market and the factors that can shift demand and supply.

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Definitions:

Repeat Purchases

Instances where customers buy the same product or service from a business more than once.

Supplier Performance Index (SPI)

A metric used to assess, measure, and manage the performance and effectiveness of suppliers in meeting predefined goals.

Preferred Supplier

A vendor that has been vetted and approved by a company due to their reliability, quality of products, or services, often given priority over other suppliers.

Activity Costs

Activity costs are the expenses associated with specific activities in a business, including manufacturing, marketing, or any other operational function, used in activity-based costing methods.