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When inquiring on the nature of a nation's economy statistics such as the Gross Domestic Product and the Consumer Price Index are important measures What is the difference between these?
Wiki User
∙ 12y ago
GDP measures the production of a country, while CPI measures the change over time of price. Hope you're having fun with Study Island :) sucks for you
Wiki User
∙ 12y ago
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When was the Consumer Price Index created?
1919. Created by the Bureau of Labor Statistics.
The most important determinant of consumer spending is?
consumer expectations
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
What is consumer welfare?
Consumer welfare also known as consumer surplus refers to the difference between what consumers are willing to pay and what they actually pay.
Consumer surplus and producers surplus?
Consumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare. Producer surplus - the difference between what a producer is willing to sell their product for and what they actually receive. Aggregate producer surplus measures producer welfare
What is the importance of statistics to business?
usinesses rely heavily on statistics to determine consumer trends and calculate important economic data. The data that is collected and the information derived from that data is useful in planning...
What is the use of the statistics?
To manipulate the consumer with numbers because statistics can be worded however in favor of the advertiser without the consumer actually knowing the data or group size bell curve and various other techniques.
What can a person expect to read on consumer reports of treadmills?
Consumer reports of treadmills include statistics gathered from people who own and use treadmills. These statistics include how much they get used, convenience of having a treadmill, and more.
What is the use of statistics in advertising?
To manipulate the consumer with numbers because statistics can be worded however in favor of the advertiser without the consumer actually knowing the data or group size bell curve and various other techniques.
What is the importance of consumer surplus?
The consumer surplus is important as a measure of the level of consumer benefit from different types of economic transactions. Since it measures the difference between willingness-to-pay and cost, it is a measure of utility (usefulness; happiness) profit.
What are the statistics on unemployment growth consumer spending and interest rate?
zac efron
When was the Consumer Price Index created?
1919. Created by the Bureau of Labor Statistics.
What kind of book or journal have statistics of automobiles?
Consumer Reports is a book or journal that offers statistics regarding automobiles. Many magazines that feature cars also offer those types of statistics.
Difference legislation that tend to protect consumer interest in advertising?
"Difference legislation that tend to protect consumer interest in advertising?"
What is the difference between a herbivore and a consumer?
The difference between a herbivore and a consumer, is that a consumer is a generic term for an animal that feeds on plants and other animals. A herbivore strictly feeds on plants.
What is the difference between industrial and consumer promotion?
industrial is work. Consumer is buy.
What is a difference between producer consumer and predator?
preaditores are fidel and consumer are spre
