Economic Resources

These are semi-processed goods that are not ready for final use by the consumer.

An economy sells goods to other countries

It is under the service sector.

Agriculture and Fishery are the competitive due to:

The top grosser in the service sector

It states that as additional units of a good are consumed, the additional utility derived from each additional unit tends to diminish.

Consumer Theory describes how consumers make decisions on what to buy.

The significance of production theory in business is to minimize output within limited quantities of output available.

It is the term used for satisfaction.

Production Function

It means that more foreign currencies are being sold for pesos that those being bought with pesos.

It is the rising of local prices.

Foreign currency inflow less outflow payments

It is the additional output produced by an additional unit of the input.

What sector is electricity, gas, and water under?

The Economy's Producing Sectors

Find the simple interest given the following:

P = 50,000

R = 11%

T = 6 months

Find the amount after the simple interest given the following:

P = 42,500

R = 5%

T = 1 year