Business, 28.08.2019 01:20 makayladurham19

On the demand side of gdp, consumption by is the largest component of gdp, accounting for about two-thirds of the gdp in any year.

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Answer from: MorallyGray

The correct answer is households.

Explanation:

The final consumption expenditure of households (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines and personal computers), purchased by households. Home purchases are excluded, but includes the imputed income of the homes occupied by their owners. It also includes the amounts and fees paid to governments to obtain permits and licenses. In this case, household consumption expenditure includes the expenses of nonprofit institutions that provide services to households, even when the country reports them separately. This item also includes any statistical discrepancy in the use of resources in relation to the supply of resources.

Answer from: Quest

answer is i don't know

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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On the demand side of gdp, consumption by is the largest component of gdp, accounting for about two...

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